Every weekday, the CNBC with Jim Cramer releases the stretch — an actionable afternoon, time for the last hour of trading on Wall Street.
Market moves: Stocks were higher Thursday as the market continued to make its way through second quarter earnings season.
In contrast, Gains in the nology and industrials sectors were lifting the S & P 500, while real estate and health care weighed on the index (something worth watching), amid market uncertainty.
Job cuts: Amazon cut jobs at its Amazon Web Services cloud computing division, the company confirmed on Thursday, in this volatile climate.
Moreover, The size and scope of the layoffs were un, but workforce reductions could help support margins in the quarters ahead, considering recent developments.
We're not concerned that this is a warning sign around slowing demand – it's the company trying to get more efficient.
If AI played a role in this, it speaks to the discussion we had on Wednesday's Morning Meeting how large companies — Dell, Amazon, and Microsoft — have embraced AI and are seeing their operating expenses as a percentage of sales drop, according to Melius Re.
Moreover, The ability to do more with fewer employees is positive for earnings leverage in the years ahead.
Meanwhile, DTC drugs: Bristol Myers Squibb and Pfizer announced on Thursday that they will begin selling the blood-thinning medication Eliquis directly to patients through their Eliquis 360 support gram at a 40% discount to the current list price.
Eliquis is one of Bristol-Myers' top-selling drugs. Analysts expect the medication will generate $14, given current economic conditions. 3 billion of the company's total $46.
2 billion of revenue this year (fascinating analysis).
However, Bristol Myers labels the drug as part of its "legacy portfolio" and not its "growth portfolio" since it is expected to face generic competition in the United States in a few years, amid market uncertainty.
Moreover, Importantly, analysts at Leerink do not believe the discount will be a net pricing headwind for either Bristol Myers or Pfizer, as the drug is already heavily rebated to pharmacy benefit managers.
Nevertheless, Conversely, The drug companies can circumvent the middlemen with these grams, which is why Bristol Myers' stock isn't lower on this news (which is quite significant).
Also, selling directly to patients at a lower price should help pharma companies gain much-needed favor with the Trump Administration, especially with the threat of drug pricing reform and tariffs looming (noteworthy indeed).
On the other hand, However, we're not going to be buyers of Bristol Myers on this news (something worth watching).
We're waiting to make our next decision on the stock until we see the Phase 3 readout of Cobenfy for Alzheimer's psychosis.
This analysis suggests that data is due sometime in the late third quarter or early fourth quarter, and it will be a make-or-break moment for our thesis.
Moreover, We're hopeful for a successful trial, but we lost a lot of conviction in Cobenfy ing its disappointing Phase 3 trial as an adjunctive treatment to atypical antipsychotics in adults with schizophrenia.
Up next: Netflix and Interactive Brokers report earnings after Thursday's closing bell. On Friday morning, it's quarterly results from American Express, Charles Schwab, and 3M (noteworthy indeed).
In contrast, We'll be paying most attention to the American Express results as they will vide a read-through into Capital One ahead of its results next week.
Market analysis shows 3M quarter is a read-through into DuPont and parts of Honeywell.
Additionally, Friday's economic data includes June housing starts and a preliminary read on the University of Michigan consumer sentiment survey, which also vides participants' 1-year inflation expectations.
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