Market Today: CVS Exits Infusion Services, Tesla's Robot Controversy, Pfizer's FDA Approval

GuruFocus10-12

Weekly Market Overview The week saw a mix of ups and downs for stocks, with major indices eventually rallying on Friday. The S&P 500 and Dow Jones Industrial Average reached new record highs. Despite ...

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Despite ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2552912/market-today-cvs-exits-infusion-services-teslas-robot-controversy-pfizers-fda-approval\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Today: CVS Exits Infusion Services, Tesla's Robot Controversy, Pfizer's FDA Approval</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Today: CVS Exits Infusion Services, Tesla's Robot Controversy, Pfizer's FDA Approval\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-12 05:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2552912/market-today-cvs-exits-infusion-services-teslas-robot-controversy-pfizers-fda-approval><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Weekly Market Overview The week saw a mix of ups and downs for stocks, with major indices eventually rallying on Friday. The S&P 500 and Dow Jones Industrial Average reached new record highs. Despite ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2552912/market-today-cvs-exits-infusion-services-teslas-robot-controversy-pfizers-fda-approval\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1069347547.HKD","symbol_name":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","start_time":0,"source_url":"https://www.gurufocus.com/news/2552912/market-today-cvs-exits-infusion-services-teslas-robot-controversy-pfizers-fda-approval","article_id":"2474026100","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474026100","pubTimestamp":1728683892,"columns":[],"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"Weekly Market Overview The week saw a mix of ups and downs for stocks, with major indices eventually rallying on Friday. 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The S&P 500 and Dow Jones Industrial Average reached new record highs. Despite geopolitical concerns and the impact of Hurricanes Milton and Helene, the market's focus shifted to economic data and Federal Reserve policies. Economic Data Highlights September Consumer Price Index (CPI) was higher than expected: Headline CPI at 0.2% (expected 0.1%) and Core CPI at 0.3% (expected 0.2%). Year-over-year, Core-CPI rose to 3.3% from 3.2%, while Headline CPI decreased to 2.4% from 2.5%. Shelter component, a major driver of core inflation, saw its smallest increase (+0.2%) since June. Weekly jobless claims increased to 258,000 from the previous week's 225,000. September Producer Price Index and preliminary October consumer sentiment data suggested the Fed might continue rate cuts.Market Reaction to Fed and Earnings The market showed little reaction to the September 17-18 FOMC meeting minutes, which revealed diminished upside risks to inflation and increased downside risks to employment. Influential financial stocks like JPMorgan Chase (JPM), Wells Fargo (WFC), and BlackRock (BLK) received positive responses to their earnings results.Monday Monday's session had a negative bias, with major indices closing lower. The S&P 500 declined by 1.0%, Nasdaq Composite by 1.2%, Dow Jones by 0.9%, and Russell 2000 by 0.8%. The decline was attributed to profit-taking and geopolitical concerns, particularly between Israel and Iran, which also led to a rise in oil prices. Consumer credit increased by $8.9 billion in August, below the consensus of $12.7 billion, indicating consumer caution.Tuesday The market rebounded on Tuesday with a broad rally driven by mega caps, growth stocks, and chipmakers. NVIDIA (NVDA) was a standout performer. Calmer Treasury actions and a drop in oil prices also contributed to the gains. September NFIB Small Business Optimism was 91.5, slightly up from 91.2. August Trade Balance was -$70.4 billion, better than the consensus of -$71.3 billion, positively influencing Q3 GDP forecasts.Wednesday Wednesday saw the S&P 500 (+0.7%) and Dow Jones (+1.0%) reach new record highs, driven by momentum from the previous day's rally. Alphabet (GOOG) was affected by news of a potential breakup by the DOJ. Weekly MBA Mortgage Applications Index fell by 5.1%. August Wholesale Inventories were up by 0.1%. EIA crude oil inventories increased by 5.81 million barrels.Thursday The market had a negative bias with limited downside movement. Mixed economic data included a hotter-than-expected CPI report and an increase in weekly jobless claims, partially influenced by Hurricane Helene. The market remained optimistic about a potential Fed rate cut in November. Weekly Initial Claims were 258,000, up from 225,000. September CPI was 0.2%, with Core CPI at 0.3%.Friday Friday closed the week with a strong rally. The Dow Jones (+1.0%) and S&P 500 (+0.6%) hit all-time highs. The Nasdaq Composite gained 0.3%, while the Russell 2000 outperformed with a 2.1% rise. Tesla (TSLA, Financial) lagged following a disappointing robotaxi reveal.Today's NewsCVS Health (CVS) is reportedly planning to exit its core infusion services business, either selling or closing 29 related pharmacies. The company disclosed this in an internal memo dated October 8. A CVS spokesperson confirmed that they have stopped accepting new patients for certain treatments, citing a challenging environment for infused medication providers. This move is not related to the previously announced corporate job cuts.Speculation arose around Tesla's (TSLA, Financial) Optimus humanoid robots during a recent event, as it remains unclear whether they were operating autonomously or controlled by humans. Analysts present at the event expressed doubts about the robots' capabilities, with some suggesting it was a demonstration of remote control rather than true autonomy. CEO Elon Musk mentioned that at scale, the robots could cost between $20,000 and $30,000.Pfizer (PFE, Financial) announced FDA approval for its drug Hympavzi, designed to treat certain types of hemophilia. This marks the first FDA-approved once-weekly subcutaneous prophylactic treatment for hemophilia B and the first to be administered via a pre-filled pen or syringe for hemophilia A or B. Pfizer continues to expand its portfolio with innovative treatments.Kinder Morgan (KMI, Financial) saw a 3.9% increase in its stock price after Bank of America upgraded its shares to Buy from Neutral. The firm cited Kinder Morgan's potential to benefit from long-term growth due to demand from Gulf Coast LNG projects and utility electrification. The company's base business appears solid following the resolution of past issues.Uber (UBER, Financial) shares continued their upward trend, marking a seventh straight session of gains. Analysts are optimistic about Uber's future in the autonomous vehicle sector, supported by recent partnerships with companies like Waymo and Cruise. The stock has seen significant growth, outperforming the S&P 500 Index.Boeing's (BA, Financial) planned acquisition of Spirit AeroSystems (SPR, Financial) experienced a widened deal spread, following reports of Airbus facing supply chain issues with parts from Spirit. Concerns have been raised about the production of fuselage parts at Spirit's plant, with Airbus employees monitoring the situation on-site.Meta Platforms (META, Financial) is highlighted as a top mega-cap stock, with analysts predicting a 30% upside. The company is expected to increase its capital expenditures significantly, alongside other tech giants like Amazon (AMZN) and Microsoft (MSFT), reflecting confidence in their growth potential.Chinese stocks, including Alibaba Group (BABA, Financial), rose in anticipation of a potential economic stimulus package from China's Ministry of Finance. Investors are hopeful for measures that could support the property sector and overall economic growth.Apple (AAPL, Financial) faced allegations from the National Labor Relations Board regarding restrictions on employees' social media use, including firing an employee for advocating workplace changes. These accusations come amidst a broader scrutiny of the company's labor practices.McDonald's (MCD, Financial) is expanding its plant-based offerings in Europe with the introduction of Beyond Meat (BYND) McNuggets. The move reflects a strategic push to cater to the growing vegetarian and vegan market, particularly in regions like France.Wolfspeed (WOLF) saw a stock price increase after reports of the company finalizing agreements to supply 200mm wafers to major third-party customers. These agreements may include significant upfront cash payments, strengthening Wolfspeed's position in the semiconductor market.Humana (HUM) experienced a decline after the Centers for Medicare & Medicaid Services released 2025 Star Ratings for Medicare plans. The ratings can significantly impact the financial performance of health insurers, influencing their strategic planning.GuruFocus Stock AnalysisMatthews Japan Fund 3rd-Quarter Commentary: A Look Back by James LiNvidia Takes Center Stage at AI Summit with Pioneering Blackwell Platform by Nauman KhanHoneywell in Talks to Sell PPE Unit for $1.5 Billion as Strategic Shift Continues by Muslim FarooqueCarnival Corporation Stock Soars as Analysts Upgrade Forecasts After Stellar Q3 Earnings by Nauman KhanTesla Stock Plummets 8% After Lackluster Robotaxi Unveiling Disappoints Investors by Nauman Khan","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474026100"}