Institutional Shareholder Services recommended on Friday that shareholders should approve Kimberly-Clark’s (KMB) plans to buy Kenvue (KVUE). Shares in Kevnue, best known for Tylenol, slumped after the White House Administration (President Trump) claimed that the pain medicine increased the risk of autism if used during pregnancy.
Scrutiny on the self-driving offering from Tesla (TSLA) will not hurt the stock. The National Highway Traffic Safety Administration started a probe into its Full Self-Driving system, which potentially involved 8,313 potential traffic violations.
TSLA stock trades with a forward price-to-earnings ratio of nearly 270 times.
In the drug sector, Novo Nordisk (NVO) will try to break out above $60. Reuters reported this morning that its Wegovy pill (taken orally instead of injected) received 3,071 prescriptions in the U.S. market. Novo is charging just $149 per month for customers.
Amazon (AMZN) is also offering the drug.
Watch Lilly (LLY). Shares are showing strains at the $1,035 level. Its catalyst is on hold as shareholders wait for the company to get the Food and Drug Administration’s approval for its obesity pill in the second quarter. That puts LLY stock at a disadvantage and helps Novo.
Advertising firms are under pressure again today. Applovin (APP) traded below $600 after the stock indicated a bearish double top pattern at $720. The Trade Desk (TTD), which has a short float of 10.05%, is also fading. By comparison, Alphabet (GOOG) is holding its all-time high with a $3.995 trillion market capitalization.
