During this earnings season, Wall Street investors have been paying attention to stocks generating buzz in different sectors. Diversifying investments across the 11 sectors within the S&P 500 index could help weather short-term market volatility. Over the past 12 months, the best performing sector has been information technology, returning well over 30%. Consumer discretionary sector with nearly 20% follows it, and the health care sector holds over 6%. By comparison, the S&P 500 index, which represents the ...

GERMANY - 2024/04/03: In this photo illustration, an Amgen Inc. (formerly Applied Molecular Genetics ... [+] Inc.) logo seen displayed on a tablet. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesAmgen stock (NASDAQ NASDAQ : AMGN) has seen a solid 9% rise in a week, outperforming the broader S&P500 index, up 1.5%. The recent rise can be attributed to the progress with its weight-loss drug — MariTide and its upbeat Q1 results reported las ...

Picking income stocks can be challenging. Some companies pay dividends only to cut them in the future, and others are more focused on stock buybacks instead of dividends. However, research has shown that dividends provide investors with about 35% of their total returns over time. It varies year to year, but holding solid income stocks that consistently raise their annual payout has proven successful.The three dividend stocks to buy below have prioritized returning cash to shareholders and all have excellent ...

In this articleAMGNLLYNOVO.B-DKThe injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois.Scott Olson | Getty ImagesNovo Nordisk and Eli Lilly have long dominated the rapidly growing weight loss drug market, but their duopoly is closer than ever to facing a threat from a new rival. Amgen is among the leaders of a pack of drugmakers racing to join the market with their own weight loss treatments. As the company pushes forward with the trials ...

The stock market is where investors buy and sell shares of public companies. Among the various indexes, the Dow Jones Industrial Average (DJIA) is one of the most recognized. It consists of 30 prominent companies in the U.S., often referred to as “blue chips.” This index is a significant indicator of the market’s overall health and economic trends.Investing in Dow Jones stocks offers the advantage of stability and reliability. These companies are well-established and financially sound, often providing consi ...

Amgen, Inc. (NASDAQ:AMGN) Q1 2024 Earnings Conference Call May 2, 2024 4:30 PM ET Company Participants Justin Claeys - VP, IR Robert Bradway - Chairman, CEO & President James Bradner - EVP, Research and Development & Chief Scientific Officer Vikram Karnani - EVP & President, Global Commercial Operations & Medical Affairs (Rare Disease) Murdo Gordon - EVP, Global Commercial Operations Peter Griffith - EVP & CFO Conference Call Participants Salveen Richter - Goldman Sachs Group Michael Yee - Jefferies Terence ...

Financial Performance - Total revenues for the three months ended March 31, 2024, were $7,447 million, a 22% increase from $6,105 million in the same period of 2023[10]. - Product sales reached $7,118 million, up from $5,846 million, reflecting a 22% growth year-over-year[10]. - Operating income decreased to $991 million from $1,921 million, representing a decline of 48%[10]. - Net loss for the three months ended March 31, 2024, was $(113) million compared to a net income of $2,841 million in the same period of 2023[10]. - Basic and diluted loss per share for the current period was $(0.21), down from earnings of $5.32 and $5.28, respectively, in the prior year[10]. - The company reported a pretax loss of $68 million for Q1 2024, compared to a pretax income of $3,442 million in Q1 2023[45]. - The effective tax rate for the three months ended March 31, 2024, was (66.2)%, compared to 17.5% for the same period in 2023, primarily due to the earnings mix from the inclusion of the Horizon business[45][46]. Expenses and Investments - Research and development expenses increased to $1,343 million from $1,058 million, marking a 27% rise[10]. - Total operating expenses rose to $6,456 million, up from $4,184 million, indicating a 54% increase[10]. - The company reported depreciation and amortization expenses of $1,399 million for the quarter, compared to $900 million in the prior year[23]. - Amortization of finite-lived intangible assets for the three months ended March 31, 2024, was $1.2 billion, compared to $693 million for the same period in 2023, indicating a significant increase of approximately 73.2%[74]. - The total estimated amortization of finite-lived intangible assets for the remaining nine months of 2024 is projected to be $3.6 billion[74]. Cash and Assets - Cash and cash equivalents decreased to $9,708 million from $10,944 million[15]. - Total assets as of March 31, 2024, were $92,980 million, down from $97,154 million at the end of 2023[15]. - Total inventories decreased to $8,724 million as of March 31, 2024, from $9,518 million as of December 31, 2023, a decline of approximately 8.3%[67]. - The fair value of money market mutual funds decreased from $10,266 million as of December 31, 2023, to $9,099 million as of March 31, 2024[89]. - The fair value of equity securities decreased from $4,514 million as of December 31, 2023, to $3,985 million as of March 31, 2024[89]. Debt and Liabilities - Long-term debt decreased to $60,061 million from $63,170 million, reflecting a reduction of 5%[15]. - The total carrying value of debt decreased to $64,020 million as of March 31, 2024, from $64,613 million as of December 31, 2023[78]. - The company repurchased portions of various notes for an aggregate cost of $410 million during the three months ended March 31, 2024, resulting in a $133 million gain on extinguishment of debt[79]. - Total liabilities as of March 31, 2024, were $1,168 million, compared to $1,188 million as of December 31, 2023[89]. Acquisitions - The company completed the acquisition of Horizon Therapeutics for approximately $27.8 billion, enhancing its portfolio in rare diseases[31]. - The acquisition included cash consideration of $26.7 billion and additional costs related to options and equity awards totaling $523 million[33]. - The fair value of developed-product-technology rights acquired in the Horizon acquisition was estimated at $19,590 million[34]. - The estimated fair value of acquired inventory from Horizon was $5,025 million, with amortization expected over approximately 27 months[35]. Legal and Regulatory Matters - Legal proceedings and investigations may have outcomes that are difficult to predict, potentially affecting the company's financial position[116]. - The company is involved in patent litigation concerning Repatha and other products, with significant hearings scheduled in the coming years[118]. - Amgen's patent claims related to the '736 Patent were found valid and enforceable by the New Jersey District Court[121]. - Amgen successfully dismissed indirect purchasers' claims in the antitrust class actions in Delaware District Court[122]. Market and Investment Risks - The company recognized an unrealized loss of $454 million on its equity investment in BeiGene for the three months ended March 31, 2024, compared to an unrealized gain of $1.9 billion for the same period in 2023[60]. - The carrying value of the equity investment in BeiGene was $3.0 billion as of March 31, 2024, down from $3.4 billion as of December 31, 2023[60]. - The company incurred net changes in valuations of contingent consideration obligations of $2 million for the three months ended March 31, 2024[94].

Revenue Growth and Sales Performance - Total revenues increased 22% to $7.4 billion in Q1 2024, driven by 25% volume growth[2] - U.S. volume grew 29% and ex-U.S. volume grew 17% in Q1 2024[2] - Horizon Therapeutics acquisition contributed $914 million in sales, with products like TEPEZZA, KRYSTEXXA, and UPLIZNA driving growth[3] - Repatha sales increased 33% year-over-year to $517 million, driven by 44% volume growth[6] - TEZSPIRE sales increased 80% year-over-year to $173 million, primarily driven by volume growth[10] - TEPEZZA generated $424 million in sales, KRYSTEXXA $235 million, and UPLIZNA $80 million in Q1 2024[12] - Total revenues for Q1 2024 were $7.447 billion, compared to $6.105 billion in Q1 2023, representing a 22% increase[61] - Product sales for Q1 2024 were $7.118 billion, up from $5.846 billion in Q1 2023, a 21.8% increase[61] Operating Income and Margins - GAAP operating income decreased from $1.9 billion to $1.0 billion, with GAAP operating margin dropping 19.0 percentage points to 13.9%[3] - Non-GAAP operating income increased from $2.8 billion to $3.1 billion, but non-GAAP operating margin decreased 5.1 percentage points to 43.2%[4] - Operating Margin as a percentage of product sales decreased 19.0 percentage points in Q1 2024 to 13.9%[16] - GAAP operating income for Q1 2024 was $991 million, compared to $1,921 million in Q1 2023, with Non-GAAP operating income at $3,078 million, up from $2,821 million in the same period last year[65] - GAAP operating income as a percentage of product sales decreased to 13.9% in Q1 2024 from 32.9% in Q1 2023, while Non-GAAP operating income as a percentage of product sales was 43.2%, down from 48.3%[65] Free Cash Flow and Financial Position - Free cash flow decreased to $0.5 billion in Q1 2024 from $0.7 billion in Q1 2023, due to an $800 million tax deposit[4] - Free Cash Flow decreased to $0.5 billion in Q1 2024 from $0.7 billion in Q1 2023, impacted by an $800 million tax deposit[19] - Cash and investments totaled $9.7 billion, while debt outstanding was $64.0 billion as of March 31, 2024[19] - Net cash provided by operating activities decreased to $689 million in Q1 2024 from $1,064 million in Q1 2023, with free cash flow also declining to $459 million from $720 million[68] - Capital expenditures decreased to $230 million in Q1 2024 from $344 million in Q1 2023, contributing to the decline in free cash flow[68] - The company's cash and cash equivalents decreased by $1,236 million in Q1 2024, ending the quarter at $9,708 million, compared to an increase of $23,931 million in Q1 2023, ending at $31,560 million[68] Operating Expenses and Cost Structure - Total operating expenses increased 54% on a GAAP basis, driven by higher amortization and R&D expenses related to the Horizon acquisition[15] - Total Operating Expenses increased 33% on a non-GAAP basis, driven by higher R&D and SG&A expenses[16] - GAAP cost of sales for Q1 2024 was $3.200 billion, representing 45.0% of product sales, compared to $1.720 billion (29.4% of product sales) in Q1 2023[64] - Research and development expenses for Q1 2024 were $1.343 billion, or 18.9% of product sales, compared to $1.058 billion (18.1% of product sales) in Q1 2023[64] - Selling, general and administrative expenses for Q1 2024 were $1.808 billion, or 25.4% of product sales, compared to $1.258 billion (21.5% of product sales) in Q1 2023[64] - Adjustments to cost of sales increased significantly to 26.2% in Q1 2024 from 12.0% in Q1 2023, primarily due to noncash amortization of intangible assets and fair value step-up of inventory[65] Tax and Net Income - Tax Rate decreased 83.7 percentage points primarily due to GAAP net loss and the inclusion of the Horizon business[16] - Net loss for Q1 2024 was $113 million, compared to a net income of $2.841 billion in Q1 2023[61] - GAAP net loss for Q1 2024 was $113 million, compared to a net income of $2,841 million in Q1 2023, with Non-GAAP net income remaining stable at $2,140 million and $2,141 million respectively[65][67] - Net losses from equity investments were $510 million in Q1 2024, compared to net gains of $1,853 million in Q1 2023, primarily related to BeiGene, Ltd. equity fair value adjustments[65][67] - The GAAP tax rate guidance for 2024 is 9.5%, with the Non-GAAP tax rate guidance set at 15.0%[72] Debt and Assets - Long-term debt decreased to $60.061 billion as of March 31, 2024, from $63.170 billion as of December 31, 2023[63] - Total assets decreased to $92.980 billion as of March 31, 2024, from $97.154 billion as of December 31, 2023[63] - Cash and cash equivalents decreased to $9.708 billion as of March 31, 2024, from $10.944 billion as of December 31, 2023[63] Revenue and EPS Guidance - 2024 revenue guidance is projected to be in the range of $32.5 billion to $33.8 billion[21] - GAAP diluted EPS guidance for 2024 is projected between $7.15 and $8.40, while Non-GAAP diluted EPS guidance is expected to range from $19.00 to $20.20[70] Clinical Trials and Pipeline Updates - MariTide Phase 2 study in overweight or obesity with or without type 2 diabetes is ongoing, with topline data expected in late 2024[23] - Tarlatamab BLA for small cell lung cancer is under FDA priority review with a PDUFA date of June 12, 2024[27] - BLINCYTO supplemental BLA for early-stage B-ALL is under FDA priority review with a PDUFA date of June 21, 2024[28] - LUMAKRAS Phase 3 CodeBreaK 300 trial overall survival data will be presented at ASCO in June 2024[32] - FORTITUDE-101, a Phase 3 study of bemarituzumab in first-line gastric cancer, continues to enroll patients[33] - TEZSPIRE reduced the annualized rate of moderate or severe COPD exacerbations by 17% compared to placebo, with a 37% reduction in patients with baseline BEC ≥ 150 cells/μL[34] - The ROCKET Phase 3 program for rocatinlimab has enrolled over 2,800 patients, with three studies completed and data readout anticipated in H2 2024[36] - Otezla demonstrated sustained efficacy in pediatric patients with moderate to severe plaque psoriasis over 52 weeks in the SPROUT Phase 3 study[37] - The Phase 4 AGILE study of KRYSTEXXA with methotrexate showed a 67.2% response rate at a 60-minute infusion duration[43] - A Phase 3 study of UPLIZNA in myasthenia gravis is fully enrolled, with data readout expected in H2 2024[44] - Two Phase 3 studies of dazodalibep in Sjögren's disease are enrolling patients, with Phase 2 data accepted for publication in Nature Medicine[45] - A Phase 2 study of fipaxalparant in idiopathic pulmonary fibrosis has completed enrollment, with data readout anticipated in H2 2024[47] - The company initiated a Phase 3 study comparing ABP 234 to Keytruda in advanced or metastatic non-squamous non-small cell lung cancer[48] Non-GAAP Financial Measures - The company presented non-GAAP financial measures for Q1 2024, including Free Cash Flow (FCF), to enhance understanding of financial performance[50] Risks and Integration Challenges - The company faces risks related to the integration of Horizon, including potential delays, difficulties, and higher-than-expected costs[58]

Here are three prominent Dow stocks facing challenges that every investor should be aware of. Even with any business’s challenges, savvy investors can identify possible openings for strategic positioning.The first company, a mainstay in the aerospace sector, is grappling with cash flow issues and an uncertain future. However, amidst these challenges, there are opportunities to mitigate potential losses and steer the business through its current turbulent period. The second company, a major player in the bio ...

American stocks were mixed on Wednesday as the earnings season continued and as investors waited for the latest Federal Reserve decision. The Dow Jones rose by over 65 points while the S&P 500 and Nasdaq 100 indices fell by over 10 basis points. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Earnings season is continuingCopy link to sectionThe earnings season has been quite successful. Data by FactSet shows that 46% of all companies in the S&P 500 in ...