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Astrazeneca Rises on Profit Beat; Paramount Pauses WBD Deal | Stock Movers

On this episode of Stock Movers: - Forte Bioscience (FBRX) is soaring as Argenx SE agreed to buy Forte Biosciences Inc. for about $2.2 billion in cash to expand its portfolio of immunology medicines. - Astrazeneca (AZN) shares rose after it reported higher-than-expected profit, buoyed by blockbuster cancer medicines, with earnings per share rising 21% to $2.63 last quarter. - Paramount Skydance (PSKY) shares are reacting to news that it paused its blockbuster deal for Warner Bros.

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Bloomberg

Economy 'Can Manage' Oil at $90, Plurimi Says

Plurimi Wealth CIO Patrick Armstrong discusses market moves as oil prices dropped after the US paused almost two weeks of daily strikes against Iran. "Even if we do get a relatively open Strait of Hormuz, it is going to be a restocking phase that'll support oil prices," Armstrong tells Bloomberg Television. He adds that oil around $90 a barrel is "a headwind for growth but not terribly so," but should prices go higher, it puts central banks in a "very difficult position."

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Bloomberg

AstraZeneca on Track for Reaching $80 Bln Sales Target, CFO Says

AstraZeneca Chief Financial Officer Aradhana Sarin says the company is "very much on track" to reach its $80 billion sales target by 2030. "From a pharma standpoint, we are probably one of the most diversified from a product and pipeline, as well as probably the most diversified geographically," Sarin says. She speaks on Bloomberg Television as the company reported higher-than-expected profit, buoyed by blockbuster cancer medicines.

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