Gilead Sciences (GILD) broke out of a downtrend by rising 8.46% on Thursday. The firm reported Phase 3 trial data for its experimental therapy, lenacapavir.
Lenacapavir treats HIV/AIDS. The twice-yearly drug prevents HIV infection. The monitoring committee reviewed the study data and recommended that the drug be offered to all trial subjects through an open-label phase.
Accenture (ACN) added 7.3% after posting Q3/2024 results. For 2024, it expects revenue to grow by 1.5% to 2.5%. Markets are mistakenly bidding CAN stock higher after it lowered its EPS outlook below consensus.
EPAM Systems gained 6.78%, helped by Accenture’s rally. Corporate customers are likely cutting back on IT consulting spending. Instead, they are investing in AI-related projects.
Jabil (JBL) lost 11.44% after posting quarterly results. In Q3, non-GAAP EPS was $1.89, hurt by a 20.2% Y/Y decline in revenue. The weak business is a concern that investors should avoid JBL stock.
Enphase Energy (ENPH) lost 8.77% after J.P. Morgan analysts wrote that the European residential market for solar demand remains moribund. Analysts see elevated channel inventories. In effect, Enphase does not have the pricing power. Furthermore, the upcoming U.S. elections and policy changes are upcoming risks for ENPH stock.
