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ProKidney, Meta & EssilorLuxottica, Apple COO: Trending Tickers

Published 2 days ago3 minute read

Pharmaceutical stocks surged during Tuesday's session, with ProKidney (PROK) leading the charge after the company reported promising drug trial results.

Ray Ban maker EssilorLuxottica (EL.PA) shares pop after reports that Meta (META) has taken a $3.5 billion stake in the company, according to Bloomberg.

Apple (AAPL) is in focus after announcing that COO Jeff Williams will transition out of his role, with Sabih Khan, Apple’s senior vice president of operations, replacing him.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief: Market Sunrise here.

00:00 Speaker A

Our first ticker today is not only trending, it's positively buzzing. It was up more than 1,000% at one point yesterday. Now, the Nasdaq listed ProKidney, aka Prock, ended the day at +515% on Tuesday. This incredible rise followed the release of positive results from a phase 2 clinical trial, raising hopes that the FDA may accelerate approval of Prock's cutting edge therapy for patients with chronic kidney disease and diabetes. The data exceeded expectations from both analysts and management, for this reason, City raised its price target for Prock to $9 from $6. So, they think the value of this stock can still roughly double from here. Now, let's move on to the Paris Stock Exchange for our second trending ticker. Essilor Luxottica, the maker of Ray-Ban, Oakley and many of the world's most popular eyewear brands jumped by as much as 6% this morning. Let's look at our live market data, it's now at 252.80 up around 5.6% there. Investors are reacting to reports that Meta has bought a minority stake in the company as it looks to make new inroads into wearable technology devices, such as the Ray-Ban smart glasses heavily advertised by Mark Zuckerberg. Touting the success of those Ray-Ban smart glasses earlier this year, the CEO of Luxottica, Francesco Milleri, said they aim to produce as many as 10 million units per year. New AI powered devices under the brands of Oakley and Prada are also in the works as well. Now, Bloomberg reported that Meta has now acquired shares in Luxottica for which are worth around three and a half billion dollars, and is considering further investments. And finally, I think you need to know about Apple. I'd ask my colleagues in the gallery to please show me the stock chart since January. Now look at this. Apple is down, here it is, more than 16% since the start of the year. It's not a dramatic fall, but a gradual, painful struggle for this blue chip stock which hasn't wowed customers with new products for a while, and which is facing challenges from tariffs and global tensions. And now, to make things even more challenging, Apple is going through a major changing of the guard. The company's long time number two COO, Jeff Williams, is retiring. Apple named Sabih Khan as its new chief operating officer. This is only one of several key staffing changes during this tumultuous time for Apple. I mean just yesterday, Bloomberg reported that Meta had poached one of its, one of Apple's top AI chiefs. Still, there might be some promising news for Apple on the horizon. Now according to the Financial Times, Apple is in talks to buy the US rights to screen Formula 1, which comes off the success of its Formula 1 film.

Origin:
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Yahoo Finance
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