GSK said its CEO Emma Walmsley would step down and be succeeded by commercial chief Luke Miels, as the drugmaker works to replenish its product lineup https://t.co/UKeKwVC79o ...

Market Overview - U.S. stocks are rebounding, with the S&P 500 up 0.4%, Dow Jones Industrial Average up 0.1%, and Nasdaq composite up 0.6%, all near their all-time highs set a week ago [1] - Wall Street is experiencing gains despite concerns over a potential U.S. government shutdown [2][3] Economic Indicators - A key economic report, the September jobs report, is scheduled for release on Friday, which is crucial for understanding the labor market and economic conditions [4] - Inflation in the U.S. increased to 2.7% in August from 2.6% in July, raising hopes for continued interest rate cuts by the Federal Reserve [5] Company News - Electronic Arts shares rose 5.7% after the company confirmed it would go private in a $55 billion buyout, potentially the largest buyout by private-equity firms [1][7] - GSK's shares increased by 2.8% following the announcement of CEO Emma Walmsley's upcoming departure, with Luke Miels set to replace her [7] International Markets - European markets showed modest gains, with the CAC 40 up 0.2% and FTSE up 0.4%, while the German DAX remained unchanged [8] - Asian markets had mixed results, with Japan's Nikkei 225 down 0.7%, while Chinese markets advanced, with the Hang Seng and Shanghai Composite both up 0.9% [8] Commodity Prices - U.S. benchmark crude oil prices fell nearly 2% to $64.43 per barrel, while Brent crude declined to $67.97 per barrel amid concerns over potential oversupply [9] - Gold prices rose 1.2% to a record $3,854.60 per ounce [10]

GSK (GSK) said Chief Executive Emma Walmsley would step down and be succeeded by commercial chief Luke Miels, as the drugmaker works to replenish its product lineup. Walmsley will step down at the end of the year, having led the company through the Covid-19 pandemic, tensions with activist investor Elliott Management and a portfolio shake-up that included the spinoff of its consumer-healthcare business. Most Read from The Wall Street Journal The leadership change comes as GSK seeks to bring to market mo ...

GSK plc (NYSE: GSK) appointed Luke Miels as the CEO Designate of GSK. He will assume full responsibility as CEO and join the Board on January 1, 2026.Luke will succeed the current CEO, Dame Emma Walmsley.He joined GSK in 2017 and is currently Chief Commercial Officer, with worldwide responsibility for medicines and vaccines.He has been instrumental in building GSK’s specialty medicines portfolio, notably in oncology and respiratory.Luke has previously worked at senior levels in the US, Europe, and Asia, at ...

All three are near their all-time highs set a week ago. Electronic Arts climbed after the video-game maker confirmed rumors it would be taken private in what could become the largest-ever buyout funded by private-equity firms. A key economic report will arrive Friday when the government releases its monthly jobs survey.Wall Street pushed higher early Monday despite growing anxiety over a possible U.S. government shutdown later this week.Futures for the S&P 500 rose 0.5% before the bell, while futures for ...

GSK (GSK) stock jumped back into a buy zone Monday after announcing Chief Executive Emma Walmsley will step down at the end of the year. She will be succeeded by Luke Miels, the current chief commercial officer. Prior to joining GSK in 2017, Miels has worked across the globe at AstraZeneca (AZN), Roche (RHHBY) and Sanofi (SNY). Walmsley has led GSK for nine years and says it's time to hand the reins over to someone new. "2026 is a pivotal year for GSK to define its path for the decade ahead, and I believe t ...

Market Movements - US stock index futures are all up, with Dow futures rising by 0.42%, S&P 500 futures by 0.45%, and Nasdaq futures by 0.56% [1] - European indices also show positive movement, with Germany's DAX up 0.15%, UK's FTSE 100 up 0.55%, France's CAC 40 up 0.05%, and the Euro Stoxx 50 up 0.06% [2][3] Oil Prices - WTI crude oil has decreased by 1.90%, trading at $64.47 per barrel, while Brent crude oil has fallen by 1.70%, priced at $68.04 per barrel [3][4] Economic Data and Events - Investors are focusing on the upcoming non-farm payroll data, which is crucial for their expectations regarding the Federal Reserve's interest rate decisions in October and December [5] - The potential government shutdown starting October 1 may delay the release of key economic data, including the non-farm payroll report [5] Company News - BMO Capital Markets has raised its year-end target for the S&P 500 index to 7000 points, citing strong market performance and resilience [6] - Cleveland Fed President Loretta Mester expresses concerns about inflation remaining above target levels until 2028, opposing interest rate cuts [6] - Gold prices have surged by 1%, reaching a new high of over $3800, driven by strong demand from central banks and ETF investors [6] - OPEC+ is considering increasing oil production by at least 137,000 barrels per day in November, despite warnings of oversupply [6] Individual Company Updates - MoonLake Immunotherapeutics' stock plummeted over 87% after disappointing clinical trial results for its skin disease drug [7] - GlaxoSmithKline's CEO Emma Walmsley will step down after nine years, with Luke Miels set to take over in January 2026 [8] - Toyota's global sales rose for the eighth consecutive month, with a 2.2% year-over-year increase, driven by strong demand in the US market [9] - Uxin Group reported a significant increase in retail transaction volume, with a 153.9% year-over-year growth in Q2 [9]

Market Movements - US stock index futures are all up ahead of the market opening, with Dow futures rising by 0.42%, S&P 500 futures by 0.45%, and Nasdaq futures by 0.56% [1] - European indices also show positive movements, with Germany's DAX up 0.15%, UK's FTSE 100 up 0.55%, France's CAC 40 up 0.05%, and the Euro Stoxx 50 up 0.06% [2][3] Oil Prices - WTI crude oil has decreased by 1.90%, trading at $64.47 per barrel, while Brent crude oil has fallen by 1.70%, priced at $68.04 per barrel [3][4] Economic News - The US government shutdown risk and non-farm payroll data are major concerns for investors this week, especially after optimistic GDP and consumer spending data were released [5] - The upcoming non-farm payroll data is crucial for market sentiment regarding potential interest rate cuts by the Federal Reserve [5] Company News - BMO Capital Markets has raised its year-end target for the S&P 500 to 7000 points, citing strong market performance and resilience [6] - Cleveland Fed President Loretta Mester expressed concerns about inflation remaining above target levels, opposing interest rate cuts [6] - Gold prices have surged to a new high, exceeding $3800, driven by strong demand from central banks and ETF investors [6] - OPEC+ is considering increasing oil production by at least 137,000 barrels per day in November, despite warnings of oversupply [6] Individual Stocks - MoonLake Immunotherapeutics' stock plummeted over 87% after disappointing trial results for its skin disease drug [7] - GlaxoSmithKline's CEO Emma Walmsley will step down after nine years, with Luke Miels set to take over in January 2026 [8] - Toyota's global sales rose for the eighth consecutive month, driven by strong demand in the US, with an overall increase of 2.2% [9] - Uxin Group reported a significant increase in retail transaction volume, up 153.9% year-over-year for Q2 [9]

Core Viewpoint - GSK's CEO Emma Walmsley will step down after nine years due to lack of strong investor support, with Luke Miels set to take over on January 1, 2026 [1][2] Group 1: Leadership Transition - Luke Miels, currently the Chief Commercial Officer, has been with GSK since 2017 and is responsible for the global pharmaceuticals and vaccines business [1] - Miels is seen as a key figure in expanding GSK's drug portfolio, particularly in oncology, which is a focus area for the company [1] - The decision for Miels' appointment was made during succession planning, considering both internal and external candidates [1] Group 2: Performance and Investor Sentiment - During Walmsley's tenure, GSK's stock price has declined by approximately 11% [1] - Following the announcement of Walmsley's departure, GSK's stock rose over 3% in pre-market trading [1] - Investors have expressed concerns regarding GSK's ability to achieve its sales target of over £40 billion (approximately $54 billion) by 2031, particularly in light of new drug development pipeline issues [2] Group 3: Strategic Challenges - Walmsley faced pressure from investors regarding the company's strategic direction, especially after the launch of the RSV vaccine and the spin-off of the consumer health business into Haleon Plc [2] - Despite significant sales growth and a doubling of R&D investment, investor disappointment remains due to weak vaccine sales and inconsistencies in the oncology strategy [2] - GSK is also working to enhance its presence in the U.S. market, committing to invest $30 billion over the next five years [2]

Core Viewpoint - Shares of U.K. pharmaceutical giant GSK experienced a rally following the announcement of an insider being appointed as the next CEO [1] Company Summary - GSK is a major player in the pharmaceutical industry, and the recent leadership change is seen as a strategic move to stabilize and enhance company performance [1]