Bloomberg Shares of AstraZeneca Plc, the UK’s biggest drugmaker, started trading on the New York Stock Exchange on Monday following a listing upgrade to replace its American Depositary Receipts that were on Nasdaq. The drug and vaccine maker is seeking to attract more investors by tilting further toward the US, where it makes almost half of its revenue. It has said the move will give equal weight to its UK, Swedish and US listings. AstraZeneca shares opened at $187.50 apiece in New York, rising in early ...

Summary of Key Points from the Conference Call Industry and Company Overview - The conference call focuses on thematic investing strategies and predictions for 2026, led by Morgan Stanley Research, emphasizing four key themes: Tech Diffusion, The Future of Energy, The Multipolar World, and Societal Shifts [3][22]. Core Themes and Predictions 1. **Key Themes for 2026**: - **Tech Diffusion**: Continued acceleration in AI capabilities and adoption across various sectors [3][35]. - **The Future of Energy**: Anticipated growth in energy demand, particularly driven by AI infrastructure, with a projected 10% increase in US energy consumption over the next decade [36]. - **The Multipolar World**: Shift towards localized supply chains and reduced dependency on global trade, with significant implications for national security and economic policies [32][34]. - **Societal Shifts**: Evolution of the Longevity theme to encompass broader societal impacts, including AI-driven job displacement and changing consumer preferences [4][38]. 2. **Performance Metrics**: - In 2025, thematic stock categories achieved an average price increase of 38%, outperforming the S&P 500 and MSCI World by 16% and 27%, respectively [8][23]. 3. **Thematic Predictions for 2026**: - Non-linear improvements in large language models (LLMs) and a systematic shortage of computational power due to rising demand [15][16]. - An aggressive US policy agenda aimed at reducing dependency on China for critical materials and enhancing domestic manufacturing capabilities [18]. - Increased focus on energy costs and their implications for data center growth and local energy policies [18]. Additional Insights - **AI and Employment**: The theme of Societal Shifts includes a focus on re-skilling initiatives and policy interventions to address job losses due to AI adoption [21][38]. - **Investment Opportunities**: The intersection of themes presents new investment opportunities, particularly in sectors that align with the evolving geopolitical landscape and technological advancements [39]. - **Regional Performance**: APAC stocks have shown strong thematic alpha across various categories, while North American stocks excelled in AI and defense-related themes [26]. Conclusion - Morgan Stanley's thematic investing framework is positioned as a powerful tool for identifying attractive investment opportunities amid market volatility, with a comprehensive focus on the interplay between technology, energy, geopolitics, and societal changes [3][8][22].

Group 1 - The Bank of America Corp. strategists recommend investors combine AI stocks with cheaper economy-linked stocks, particularly in commodities, to capitalize on the AI frenzy [1][2] - The development of AI data centers is increasing demand for energy and commodities, especially copper, which is essential for various applications including electric vehicles [2] - The UK market provides exposure to defensive sectors, such as healthcare, which can mitigate risks associated with potential overvaluation in technology stocks [3] Group 2 - The strategists observe "frothy" market conditions characterized by price action, valuations, and speculation, while noting that inflation indicators are rising [4] - Despite the high investor interest in AI stocks, with a BofA basket of AI leaders surging over 450% since the start of 2023, no central bank has raised interest rates in the last two months [5]

Nearly nine years ago, when Emma Walmsley was preparing to take over as CEO of GSK Plc, she wrote in her diary that Luke Miels — then an executive at rival AstraZeneca Plc — would be “a dream appointment for this adventure.” https://t.co/rGKpAHk9Fn ...