🥵 Earnings Heat & Biotech Nerves 🔎
Markets are frozen mid-day as two verdicts loom: Nvidia’s earnings call that could swing trillions, and Outlook Therapeutics’ FDA ruling that could redefine eye care. Inside: the stock playbook for the rest of the week.
Market Snapshot
Midday Wednesday, the market is walking a tightrope. Two catalysts dominate risk:
- Nvidia’s post-close earnings, a verdict on the AI mania and tech valuations.
- Outlook Therapeutics’ (OTLK) FDA decision window for LYTENAVA (ONS-5010), a binary event that could remake the retinal therapy market.
The S&P 500 and Dow are modestly higher (~+0.2%) while the Nasdaq drifts red (~−0.3%), reflecting caution in tech. Treasury short yields are sliding, signaling that rate-cut hopes remain alive.
Why Today Matters
- Nvidia (NVDA):
- Reports after today’s close (fiscal Q2).
- Analysts expect ~$46B revenue, nearly +50% YoY.
- Options imply a ~6% swing (≈$260B+ market cap shift).
- At $4T market value, Nvidia is the world’s most valuable company. A strong print could reignite AI momentum; a stumble could drag the entire sector.
- Outlook Therapeutics (OTLK):
- FDA PDUFA date is today (Aug 27) for LYTENAVA, the first ophthalmic-grade bevacizumab.
- Already approved in the EU (May 2024) and launched in Germany/UK with $1.5M Q3 revenue. Cash on hand: $8.9M.
- U.S. approval would secure 12 years of exclusivity under BPCIA.
- The stock is volatile: morning spike, then −11% mid-day as traders square positions.
- Other Movers:
- Kohl’s (KSS) +20% after raising full-year EPS guidance (Q2 EPS $0.56 vs $0.29 est).
- MongoDB (MDB) +34% on strong quarter and higher guidance.
- EchoStar (SATS) surged +70% yesterday on AT&T’s $23B spectrum deal; today consolidating around +13%.
- Cracker Barrel (CBRL) rebounded after reverting to its original logo amid customer backlash.
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