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Kenvue rises in early trading, reversing some of yesterday’s drop, as scientists push back on Tylenol-autism link

Kenvue, the company behind pain relief medication Tylenol, is seeing shares rebound a little this morning as doctors push back against President Trump’s claims about the drug’s link to autism, per Reuters.

At a news conference yesterday, the president repeatedly warned pregnant women to avoid taking Tylenol, suggesting that the drug’s active ingredient (acetaminophen) is connected to rising autism rates in the US, sending shares in Kenvue, which was spun off from Johnson & Johnson just over two years ago, slumping to a record low.

A company spokesperson has since rejected the claims, scientists have started weighing in, and the FDA has confirmed that, while it will change warning labels on drugs containing acetaminophen, a causal relationship has not been established.

The company’s stock was up about 6% in premarket trading as of 6:20 a.m. ET.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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