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Amgen AMGN is one of the several drug makers racing to develop an innovative weight-loss drug and take a share of the booming weight loss drug market. The global obesity drug market is projected to grow dramatically, reaching nearly $95 billion by 2030 and potentially $125 billion by 2035, according to Goldman Sachs estimates.

Amgen is developing MariTide, a GIPR/GLP-1 receptor, as a single dose in a convenient autoinjector device with a monthly and maybe less frequent dosing. This key feature differentiates it from Eli Lilly’s LLY and Novo Nordisk’s NVO popular GLP-1-based obesity drugs, Zepbound (tirzepatide) and Wegovy (semaglutide), respectively, which are weekly injections. A monthly therapy like MariTide may help reduce treatment burden for patients and improve persistence on treatment over time.

Amgen is evaluating MariTide in type II diabetes, obesity and obesity-related conditions as part of its comprehensive MARITIME phase III program. Amgen has nine global phase III studies underway with MariTide in obesity and other obesity-related conditions like obstructive sleep apnea, cardiovascular disease and heart failure. Three phase III studies of MariTide in type II diabetes will be initiated in 2026.

In clinical studies, it has shown predictable and sustained weight loss and a clinically meaningful impact on cardiometabolic parameters.

In phase II studies, MariTide resulted in up to approximately 20% average weight loss over 52 weeks without reaching a weight loss plateau in people who were obese or overweight but without type II diabetes. In patients with type II diabetes who were obese or overweight, the weight loss reduction was approximately 17% at 52 weeks.

An interesting study is a new phase III switch study that will assess patients transitioning from weekly tirzepatide or semaglutide therapy to MariTide administered once every eight weeks or once every 12 weeks. In other words, the study will evaluate switching from Zepbound and Wegovy injections given 52 times a year to a medicine that can be injected 4 or 6 times a year.

MariTide is by far Amgen's most important obesity asset. However, Amgen’s obesity pipeline also includes earlier-stage oral and injectable candidates like AMG 513 and AMG 786.

Can AMGN Take Share from LLY and NVO in the Obesity Space?

MariTide is a closely watched drug in the obesity market. However, with MariTide, Amgen is entering a market that is heavily dominated by Lilly and Novo Nordisk. LLY and NVO already have a massive first-mover advantage in the obesity space and enjoy strong brand recognition.

Story Continues

Moreover, to maintain their prowess in the lucrative obesity market, both Novo Nordisk and Lilly are developing several next-generation, more powerful and more convenient GLP-1–based treatments, including oral options and multi-acting candidates.

Lilly's next-generation candidate, retatrutide, has demonstrated approximately 28% weight loss in late-stage studies, significantly above MariTide's approximately 20%.

This will make it difficult for Amgen to capture rapid market share on a weight-loss efficacy basis, even with a differentiated product like MariTide. However, from another perspective, the obesity market is huge and can support multiple players, and even a modest market share could translate into billions of dollars in annual revenues. MariTide’s less frequent dosing is its biggest competitive advantage, and if successfully developed and launched, MariTide could become the preferred option for patients who value convenience and durable weight maintenance.

Competition Heating Up in the Obesity Space

While Lilly and Novo Nordisk currently dominate this space, smaller biotechs like Structure Therapeutics and Viking Therapeutics are also developing oral GLP-1 drugs for treating obesity.

Others, such as Roche, Merck, AbbVie, and, more recently, Pfizer PFE, have strengthened their obesity pipelines through licensing deals and acquisitions involving smaller biotechs. Pfizer has strengthened its obesity presence with last year’s licensing of YP05002 from YaoPharma and the acquisition of Metsera. AbbVie entered the obesity field by licensing GUB014295 from Gubra. Roche strengthened its obesity presence through the acquisition of Carmot Therapeutics and its obesity assets, such as CT-388, as well as the exclusive collaboration with Zealand Pharma.

AMGN’s Price Performance, Valuation and Estimates

Amgen’s stock has risen 5.3% so far this year compared with an increase of 4.0% for the industry.Zacks Investment Research

Image Source: Zacks Investment Research

From a valuation standpoint, Amgen is reasonably priced. Going by the price/earnings ratio, the company’s shares currently trade at 15.05 forward earnings, which is lower than 17.59 for the industry. The stock is also trading above its five-year mean of 13.81.Zacks Investment Research

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for earnings has declined from $22.29 per share to $22.26 per share for 2026 over the past 60 days. For 2027, the consensus mark for earnings has risen from $23.43 to $23.70 per share over the same timeframe.Zacks Investment Research

Image Source: Zacks Investment Research

Amgen has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pfizer Inc. (PFE) : Free Stock Analysis Report

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Amgen Inc. (AMGN) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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Die AMGN-Aktie ist im letzten Quartal um 12,6% gefallen. Investoren sind besorgt über die Mischung aus kurzfristiger Umsatzdruck, Patentablauf und Wettbewerb in der Adipositas-Industrie sowie Unsicherheit über zukünftige Wachstumsantriebe – trotz relativ soliden ersten Quartalsergebnissen. Die jüngste Korrektur im Wert von AMGN könnte Investoren dazu bringen, die Aktie zu verlassen oder ihre Positionen zu halten oder den Dip als Gelegenheit zum Aufbau von Aktien zu nutzen.

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Yachtman Asset Management veröffentlichte seinen ersten Quartalsbericht 2026 für sein AMG "Yacktman Focused Fund". Der Fonds erzielte einen Rückstand von 10,37% im ersten Quartal und übertraf sowohl den Russell 1000 Value Index als auch den S&P 500 Index, der jeweils 2,10% bzw. -4,33% auswies. Die US-Märkte setzen neue Höchststände auf, wobei der S&P 500 bei einem Rückstand von 25% pro Jahr von 2023 bis 2025 komponiert wurde. Der Bericht erwähnte keine Anzeichen einer Abschwächung des US-Marktes trotz bedeutender geopolitischer Ereignisse. Der Fonds bleibt diszipliniert und investiert in Unternehmen, um ein Portfolio mit starken, risikoadjustierten Renditen über den gesamten Marktzyklus hinweg zu bilden, wobei eine langfristige Strategie für differenzierte Renditen betont wird. Darüber hinaus sollten die Top-Fünf-Holdings des Fonds geprüft werden, um seine besten Picks im Jahr 2026 zu kennen. In seinem ersten Quartalsbericht 2026 erwähnte Yacktman Focused Fund Aktien wie Diamondback Energy, Inc. (NASDAQ:FANG). Diamondback Energy, Inc. (NASDAQ:FANG) ist ein führendes Öl- und Gasunternehmen, das unkonventionelle, aufshore Öl- und Gasreserven erwerbt, entwickelt, erkundet und ausbeutet. Am 22. Mai 2026 schloss Diamondback Energy, Inc. (NASDAQ:FANG) bei $200,71 pro Aktie. Der monatliche Rückstand von Diamondback Energy, Inc. (NASDAQ:FANG) betrug 2,18%, und seine Aktien stiegen um 47,73% über die letzten 52 Wochen an. Diamondback Energy, Inc. (NASDAQ:FANG) hat eine Marktkapitalisierung von $56,46 Milliarden. Yacktman Focused Fund erklärte in seinem Q1 2026-Bericht: "Die Energieunternehmen im Portfolio trugen stark zu der Leistung des Quartals bei: Canadian Natural Resources Limited (CNQ), ConocoPhillips Company, Diamondback Energy, Inc. (NASDAQ:FANG) und EOG Resources, Inc. Alle waren Begünstigte der Ölpreisschocks in Verbindung mit dem Konflikt im Nahen Osten. Im Jahr 2022 fügten wir die anderen Energieunternehmen hinzu, als das Marktkapital des gesamten Sektors nur ein Bruchteil des Gesamtmarktes betrug. Diese Energieinvestitionen wurden teilweise dazu entworfen, als natürliche Absicherung gegen geopolitische Risiken zu dienen, sollten sie auftreten."

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Yachtman Asset Management veröffentlichte seine ersten Quartal 2026-Investorbrief für sein AMG-Fonds "Yacktman Focused Fund". Der Fonds erzielte einen Rückstand von 10,37 % im ersten Quartal und übertraf sowohl den Russell 1000 Value Index als auch den S&P 500 Index, der jeweils 2,10 % bzw. -4,33 % auswies. Die US-Märkte setzen neue Höchststände auf, wobei der S&P 500 bei mittleren Zwanzigprozentrenditen von 2023 bis 2025 komponiert wurde. Der Brief führte an, dass keine Anzeichen für eine Abschwächung des US-Marktes vorhanden seien, trotz bedeutender geopolitischer Ereignisse. Der Fonds bleibt diszipliniert und investiert in Unternehmen und baut ein Portfolio von starken, risikoadjustierten Renditen auf, betont eine langfristige Strategie für differenzierte Renditen. Darüber hinaus sollten die Top-Fünf-Holdings des Fonds überprüft werden, um seine besten Picks im Jahr 2026 zu kennen.

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Der Automobilhersteller Mercedes hat seinen neuen Elektrosportwagen, den Mercedes-AMG GT vier-türigen Coupé, vorgestellt. Der Wagen verfügt über drei Motoren und soll eine Reichweite von über 160 km haben. Der Preis wird auf etwa 160.000 Euro geschätzt. Der Mercedes-AMG GT ist ein Konkurrent für den Tesla Model S, der Porsche Taycan und den Lucid Air.

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Im Januar gab Tesla bekannt, die Produktion der hochpreisigen Model S und X einzustellen und das Produktionskapazität in Fremont, Kalifornien, in eine Linie umzuwandeln, die sich auf die Herstellung humanoider Roboter konzentriert. Die Autoherstellung wurde im Mai eingestellt. Tesla liefert seine letzten "Signature"-Versionen von S und X dieses Monat aus. Am Dienstagabend schloss der deutsche Automobilhersteller Mercedes einen Teil einer Los Angeles Highway, um sein Mercedes AMG GT vier-türiges Coupé vorzustellen.

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The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.02%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.62%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.98%.  June E-mini S&P futures (ESM26) rose +1.01%, and June E-mini Nasdaq futures (NQM26) rose +0.95%.

Stock indexes rallied sharply on Thursday, with the S&P 500 and Nasdaq 100 posting new all-time highs and the Dow Jones Industrials posting a 1-week high.  Better-than-expected earnings results from Alphabet and Qualcomm supported gains in the broader market.  Alphabet rallied more than +9% after reporting Q1 revenue ex-TAC of $94.57 billion, above the consensus of $91.57 billion.  Qualcomm surged more than +15% to lead chipmakers higher after reporting stronger-than-expected Q2 adjusted revenue.  In addition, lower crude oil prices on Thursday lowered inflation expectations and bond yields, both of which are supportive of stocks. The 10-year T-note yield fell -5 bp at 4.38%. Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

On the negative side, Meta Platforms fell more than -8% after issuing a capital expenditure forecast that was higher than expected.  Also, Microsoft closed down more than -3%, despite reporting Q3 results that beat expectations, as analysts expressed concern about the pace of growth in the company’s Azure cloud-computing business.

Stocks maintained their gains on Thursday after mixed US economic news. Weekly jobless claims fell to a 57-year low, while Q1 US GDP grew at a slower-than-expected pace.

US weekly initial unemployment claims fell -26,000 to a 57-year low of 189,000, showing a stronger labor market than expectations of 212,000.  Weekly continuing claims fell -23,000 to a 2-year low of 1.785 million, showing a stronger labor market than expectations of 1.815 million.

US Mar personal spending rose +0.9% m/m, right on expectations. Mar personal income rose +0.6% m/m, stronger than expectations of +0.3% m/m.

The US Mar core PCE price index, the Fed's preferred inflation gauge, rose +0.3% m/m and +3.2% y/y, right on expectations, with the +3.2% y/y gain being the largest increase in 2.25 years.

The US Q1 employment cost index rose +0.9%, stronger than expectations of +0.8%

US Q1 GDP rose +2.0% (q/q annualized), weaker than expectations of +2.3%.  The Q1 core PCE price index rose +4.3%, stronger than expectations of +4.1% and the largest increase in 3 years.

The US Apr MNI Chicago PMI unexpectedly fell -3.6 to a 4-month low of 49.2, weaker than expectations of an increase to 54.9.

US Mar leading indicators fell -0.6% m/m, weaker than expectations of -0.2% m/m and the biggest decline in 11 months.

WTI crude oil prices (CLM26) fell from a 3-week high on Thursday and closed down by more than -1% amid concerns that higher oil prices are starting to weigh on economic growth, which could further depress demand for crude.  Crude prices initially rose on Thursday after Axios reported that President Trump will be briefed on new military options for action in Iran, signaling the potential for fresh escalation in the war.  US Central Command has prepared a plan for a "short and powerful" wave of strikes on Iran, likely infrastructure targets.   The US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire.  The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis, as flows of crude, natural gas, and oil products from the Persian Gulf have been cut off since the war began in late February.  The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait.  Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.

Kevin Warsh won the banking confirmation vote of the Senate Banking Committee on Wednesday, putting him on track to be confirmed as Fed Chair by the full Senate before Jerome Powell’s term ends on May 15.  Fed Chair Powell said after Wednesday’s FOMC meeting that he will continue to serve as Fed Governor “for a period of time to be determined.”  Mr. Powell’s seat on the Board of Governors doesn’t expire until 2028.

The markets are discounting an 8% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.

Earnings season ramps up this week with several Magnificent Seven technology stocks reporting.  Earnings results thus far have been supportive of stocks.  As of Thursday, 80% of the 247 S&P 500 companies that reported Q1 earnings have beaten estimates.  Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence.  Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.

Overseas stock markets settled mixed on Thursday.  The Euro Stoxx 50 recovered from a 3-week low and closed up +1.12%.  China's Shanghai Composite climbed to a 1.5-month high and closed up +0.11%.  Japan's Nikkei Stock Average closed down -1.06%.

Interest Rates

June 10-year T-notes (ZNM6) on Thursday closed up by +7.5 ticks.  The 10-year T-note yield fell -5.0 bp to 4.380%.  T-note prices found support on Thursday amid a -1% decline in WTI crude oil prices, which lowered inflation expectations.  Also, weaker-than-expected US Q1 GDP is supportive for T-note prices.

Gains in T-notes were limited on Thursday after US weekly jobless claims fell to a 57-year low, and the Q1 employment cost index rose more than expected, hawkish factors for Fed policy.  Also, Thursday’s rally in the S&P 500 to a new record high reduced safe-haven demand for T-notes.

European government bond yields moved lower on Thursday.  The 10-year German bund yield fell from a 15-year high of 3.133% and finished down -7.4 bp to 3.037%.  The 10-year UK gilt yield fell from a 1-month high of 5.088% and finished down -5.9 bp to 5.012%.

Eurozone Apr CPI rose +3.0% y/y, right on expectations and the strongest pace of increase in 2.5 years.  Apr core CPI rose +2.2% y/y, right on expectations.

The Eurozone Mar unemployment rate fell -0.1 and matched a record low of 6.2%, right on expectations.

Eurozone Q1 GDP rose +0.1% q/q and +0.8% y/y, weaker than expectations of +0.2% m/m and +0.9% y/y.

German Mar retail sales fell -2.0% m/m, weaker than expectations of -0.2% m/m and the biggest decline in nearly 3.5 years.

The German Apr unemployment change rose by +20,000, showing a weaker labor market than expectations of 4,300.  The Apr unemployment rate was unchanged at 6.4%, showing a weaker labor market than expectations of 6.3%

The ECB, as expected, kept the deposit facility rate unchanged at 2.00% and said, "The upside risks to inflation and the downside risks to growth have intensified."

ECB President Christine Lagarde said, "The economic growth outlook is highly uncertain and will depend on how long the war in the Middle East will last, how strongly it affects energy and other commodity markets, as well as global supply chains."  She added, "Incoming information suggests the conflict is weighing on economic activity, surveys point to slowing growth, and consumers and businesses have become less confident about the future."

Bloomberg reported that several ECB officials said they are likely to raise interest rates at their June meeting unless there are positive developments on energy prices and an end to the Iran war.

The BOE, as expected, kept its key interest rate unchanged at 3.75% in an 8-1 vote.  BOE Governor Bailey said that unchanged interest rates are "a reasonable place."

Swaps are discounting an 89% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.

US Stock Movers

Qualcomm (QCOM) closed up more than +15% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted revenue of $10.60 billion, above the consensus of $10.56 billion, and saying it was “excited” by its entry into data centers, where a “leading hyperscaler custom silicon engagement is on track for initial shipments later this year.”  Other chipmakers and AI-infrastructure stocks rallied on the news, with Western Digital (WDC), Advanced Micro Devices (AMD), and Marvell Technology (MRVL) closing up more than +5%, and ARM Holdings Plc (ARM) and Texas Instruments (TXN) closing up more than +4%.  Also, Lam Research (LRCX), Applied Materials (AMAT), Analog Devices (ADI), ASML Holding NV (ASML), and Microchip Technology (MCHP) closed up more than +3%.

Quanta Services (PWR) closed up more than +15% to lead gainers in the S&P 500 after reporting Q1 revenue of $7.87 billion, well above the consensus of $7.02 billion.

Teradyne (TER) closed up more than +12% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $400.

Caterpillar (CAT) closed up more than +9% to lead gainers in the Dow Jones Industrials after reporting Q1 adjusted EPS of $5.54, well above the consensus of $4.63.

Alphabet (GOOGL) closed up more than +9% after reporting Q1 revenue ex-TAC of $94.57 billion, above the consensus of $91.57 billion.

Eli Lilly (LLY) closed up more than +9% after raising its full-year revenue forecast to $82 billion to $85 billion from a previous forecast of $80 billion to $83 billion.

O’Reilly Automotive (ORLY) closed up more than +7% after reporting Q1 operating income of $841.6 million, higher than the consensus of $807.9 million.

Royal Caribbean Cruises Ltd (RCL) closed up more than +3% after reporting Q1 adjusted EPS of $3.60, stronger than the consensus of $3.21.

Wayfair (W) closed down more than -13% after reporting Q1 adjusted EPS of 26 cents, weaker than the consensus of 30 cents.

Willis Towers Watson Plc (WTW) closed down more than -11% to lead losers in the S&P 500 after reporting Q1 revenue of $2.41 billion, below the consensus of $2.42 billion.

International Paper (IP) closed down more than -9% after reporting Q1 adjusted operating EPS of 15 cents, below the consensus of 17 cents.

Meta Platforms (META) closed down more than -8% to lead losers in the Nasdaq 100 despite reporting better-than-expected Q1 earnings as it raised its full-year capital expenditure forecast to $125 billion to $145 billion from $115 billion to $135 billion, above the consensus of $123.11 billion.

Nvidia (NVDA) closed down by more than -4% to lead losers in the Dow Jones Industrials after Goldman Sachs said investors should favor big spending “hyperscalers” over chipmakers.

Microsoft (MSFT) closed down more than -3% despite reporting Q3 results that beat expectations, as analysts expressed concern about the pace of growth in the company’s Azure cloud-computing business.

Smurfit Westrock (SW) closed down more than -3% after reporting Q1 adjusted Ebitda of $1.08 billion, weaker than the consensus of $1.15 billion.

Earnings Reports(5/1/2026)

AES Corp/The (AES), Affiliated Managers Group Inc (AMG), Aon PLC (AON), Ares Management Corp (ARES), AutoNation Inc (AN), Brookfield Renewable Corp (BEPC), Cboe Global Markets Inc (CBOE), Chevron Corp (CVX), Church & Dwight Co Inc (CHD), Colgate-Palmolive Co (CL), Dominion Energy Inc (D), Estee Lauder Cos Inc/The (EL), Exxon Mobil Corp (XOM), Federal Realty Investment Trust (FRT), Gates Industrial Corp PLC (GTES), HF Sinclair Corp (DINO), Lazard Inc (LAZ), Lear Corp (LEA), Liberty Global Ltd (LBTYA), Linde PLC (LIN), LyondellBasell Industries NV (LYB), Madison Square Garden Sports Corp (MSGS), Moderna Inc (MRNA), Newell Brands Inc (NWL), nVent Electric PLC (NVT), OneMain Holdings Inc (OMF), Summit Therapeutics Inc (SMMT), TPG Inc (TPG). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

More news from Barchart

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.02%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.62%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.98%.  June E-mini S&P futures (ESM26) rose +1.01%, and June E-mini Nasdaq futures (NQM26) rose +0.95%.

Stock indexes rallied sharply on Thursday, with the S&P 500 and Nasdaq 100 posting new all-time highs and the Dow Jones Industrials posting a 1-week high.  Better-than-expected earnings results from Alphabet and Qualcomm supported gains in the broader market.  Alphabet rallied more than +9% after reporting Q1 revenue ex-TAC of $94.57 billion, above the consensus of $91.57 billion.  Qualcomm surged more than +15% to lead chipmakers higher after reporting stronger-than-expected Q2 adjusted revenue.  In addition, lower crude oil prices on Thursday lowered inflation expectations and bond yields, both of which are supportive of stocks. The 10-year T-note yield fell -5 bp at 4.38%.

More News from Barchart

AMD Stock Just Got a New Street-High Price Target. Should You Buy Shares Here? Warren Buffett Says the 2026 Stock Market Dip Isn’t Big Enough: ‘If There is a Big Decline, We Will Deploy’ Capital Stocks Rise Before the Open as Investors Weigh Big Tech Earnings, Iran War News Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now!

On the negative side, Meta Platforms fell more than -8% after issuing a capital expenditure forecast that was higher than expected.  Also, Microsoft closed down more than -3%, despite reporting Q3 results that beat expectations, as analysts expressed concern about the pace of growth in the company’s Azure cloud-computing business.

Stocks maintained their gains on Thursday after mixed US economic news. Weekly jobless claims fell to a 57-year low, while Q1 US GDP grew at a slower-than-expected pace.

US weekly initial unemployment claims fell -26,000 to a 57-year low of 189,000, showing a stronger labor market than expectations of 212,000.  Weekly continuing claims fell -23,000 to a 2-year low of 1.785 million, showing a stronger labor market than expectations of 1.815 million.

US Mar personal spending rose +0.9% m/m, right on expectations. Mar personal income rose +0.6% m/m, stronger than expectations of +0.3% m/m.

The US Mar core PCE price index, the Fed's preferred inflation gauge, rose +0.3% m/m and +3.2% y/y, right on expectations, with the +3.2% y/y gain being the largest increase in 2.25 years.

Story Continues

The US Q1 employment cost index rose +0.9%, stronger than expectations of +0.8%

US Q1 GDP rose +2.0% (q/q annualized), weaker than expectations of +2.3%.  The Q1 core PCE price index rose +4.3%, stronger than expectations of +4.1% and the largest increase in 3 years.

The US Apr MNI Chicago PMI unexpectedly fell -3.6 to a 4-month low of 49.2, weaker than expectations of an increase to 54.9.

US Mar leading indicators fell -0.6% m/m, weaker than expectations of -0.2% m/m and the biggest decline in 11 months.

WTI crude oil prices (CLM26) fell from a 3-week high on Thursday and closed down by more than -1% amid concerns that higher oil prices are starting to weigh on economic growth, which could further depress demand for crude.  Crude prices initially rose on Thursday after Axios reported that President Trump will be briefed on new military options for action in Iran, signaling the potential for fresh escalation in the war.  US Central Command has prepared a plan for a "short and powerful" wave of strikes on Iran, likely infrastructure targets.   The US and Iran are locked in a battle for control of the Strait of Hormuz, with both sides blocking the waterway to gain leverage during an extended ceasefire.  The Strait of Hormuz remains essentially closed, threatening to deepen the global energy crisis, as flows of crude, natural gas, and oil products from the Persian Gulf have been cut off since the war began in late February.  The ongoing blockade could exacerbate global oil and fuel shortages, as about a fifth of the world’s oil and liquefied natural gas transits through the strait.  Goldman Sachs estimates that crude output in the Persian Gulf has been curtailed by about 14.5 million bpd, or more than 50%, so far in April, and that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, which could hit a billion bbl by June.

Kevin Warsh won the banking confirmation vote of the Senate Banking Committee on Wednesday, putting him on track to be confirmed as Fed Chair by the full Senate before Jerome Powell’s term ends on May 15.  Fed Chair Powell said after Wednesday’s FOMC meeting that he will continue to serve as Fed Governor “for a period of time to be determined.”  Mr. Powell’s seat on the Board of Governors doesn’t expire until 2028.

The markets are discounting an 8% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.

Earnings season ramps up this week with several Magnificent Seven technology stocks reporting.  Earnings results thus far have been supportive of stocks.  As of Thursday, 80% of the 247 S&P 500 companies that reported Q1 earnings have beaten estimates.  Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence.  Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.

Overseas stock markets settled mixed on Thursday.  The Euro Stoxx 50 recovered from a 3-week low and closed up +1.12%.  China's Shanghai Composite climbed to a 1.5-month high and closed up +0.11%.  Japan's Nikkei Stock Average closed down -1.06%.

Interest Rates

June 10-year T-notes (ZNM6) on Thursday closed up by +7.5 ticks.  The 10-year T-note yield fell -5.0 bp to 4.380%.  T-note prices found support on Thursday amid a -1% decline in WTI crude oil prices, which lowered inflation expectations.  Also, weaker-than-expected US Q1 GDP is supportive for T-note prices.

Gains in T-notes were limited on Thursday after US weekly jobless claims fell to a 57-year low, and the Q1 employment cost index rose more than expected, hawkish factors for Fed policy.  Also, Thursday’s rally in the S&P 500 to a new record high reduced safe-haven demand for T-notes.

European government bond yields moved lower on Thursday.  The 10-year German bund yield fell from a 15-year high of 3.133% and finished down -7.4 bp to 3.037%.  The 10-year UK gilt yield fell from a 1-month high of 5.088% and finished down -5.9 bp to 5.012%.

Eurozone Apr CPI rose +3.0% y/y, right on expectations and the strongest pace of increase in 2.5 years.  Apr core CPI rose +2.2% y/y, right on expectations.

The Eurozone Mar unemployment rate fell -0.1 and matched a record low of 6.2%, right on expectations.

Eurozone Q1 GDP rose +0.1% q/q and +0.8% y/y, weaker than expectations of +0.2% m/m and +0.9% y/y.

German Mar retail sales fell -2.0% m/m, weaker than expectations of -0.2% m/m and the biggest decline in nearly 3.5 years.

The German Apr unemployment change rose by +20,000, showing a weaker labor market than expectations of 4,300.  The Apr unemployment rate was unchanged at 6.4%, showing a weaker labor market than expectations of 6.3%

The ECB, as expected, kept the deposit facility rate unchanged at 2.00% and said, "The upside risks to inflation and the downside risks to growth have intensified."

ECB President Christine Lagarde said, "The economic growth outlook is highly uncertain and will depend on how long the war in the Middle East will last, how strongly it affects energy and other commodity markets, as well as global supply chains."  She added, "Incoming information suggests the conflict is weighing on economic activity, surveys point to slowing growth, and consumers and businesses have become less confident about the future."

Bloomberg reported that several ECB officials said they are likely to raise interest rates at their June meeting unless there are positive developments on energy prices and an end to the Iran war.

The BOE, as expected, kept its key interest rate unchanged at 3.75% in an 8-1 vote.  BOE Governor Bailey said that unchanged interest rates are "a reasonable place."

Swaps are discounting an 89% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.

US Stock Movers

Qualcomm (QCOM) closed up more than +15% to lead gainers in the Nasdaq 100 after reporting Q2 adjusted revenue of $10.60 billion, above the consensus of $10.56 billion, and saying it was “excited” by its entry into data centers, where a “leading hyperscaler custom silicon engagement is on track for initial shipments later this year.”  Other chipmakers and AI-infrastructure stocks rallied on the news, with Western Digital (WDC), Advanced Micro Devices (AMD), and Marvell Technology (MRVL) closing up more than +5%, and ARM Holdings Plc (ARM) and Texas Instruments (TXN) closing up more than +4%.  Also, Lam Research (LRCX), Applied Materials (AMAT), Analog Devices (ADI), ASML Holding NV (ASML), and Microchip Technology (MCHP) closed up more than +3%.

Quanta Services (PWR) closed up more than +15% to lead gainers in the S&P 500 after reporting Q1 revenue of $7.87 billion, well above the consensus of $7.02 billion.

Teradyne (TER) closed up more than +12% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $400.

Caterpillar (CAT) closed up more than +9% to lead gainers in the Dow Jones Industrials after reporting Q1 adjusted EPS of $5.54, well above the consensus of $4.63.

Alphabet (GOOGL) closed up more than +9% after reporting Q1 revenue ex-TAC of $94.57 billion, above the consensus of $91.57 billion.

Eli Lilly (LLY) closed up more than +9% after raising its full-year revenue forecast to $82 billion to $85 billion from a previous forecast of $80 billion to $83 billion.

O’Reilly Automotive (ORLY) closed up more than +7% after reporting Q1 operating income of $841.6 million, higher than the consensus of $807.9 million.

Royal Caribbean Cruises Ltd (RCL) closed up more than +3% after reporting Q1 adjusted EPS of $3.60, stronger than the consensus of $3.21.

Wayfair (W) closed down more than -13% after reporting Q1 adjusted EPS of 26 cents, weaker than the consensus of 30 cents.

Willis Towers Watson Plc (WTW) closed down more than -11% to lead losers in the S&P 500 after reporting Q1 revenue of $2.41 billion, below the consensus of $2.42 billion.

International Paper (IP) closed down more than -9% after reporting Q1 adjusted operating EPS of 15 cents, below the consensus of 17 cents.

Meta Platforms (META) closed down more than -8% to lead losers in the Nasdaq 100 despite reporting better-than-expected Q1 earnings as it raised its full-year capital expenditure forecast to $125 billion to $145 billion from $115 billion to $135 billion, above the consensus of $123.11 billion.

Nvidia (NVDA) closed down by more than -4% to lead losers in the Dow Jones Industrials after Goldman Sachs said investors should favor big spending “hyperscalers” over chipmakers.

Microsoft (MSFT) closed down more than -3% despite reporting Q3 results that beat expectations, as analysts expressed concern about the pace of growth in the company’s Azure cloud-computing business.

Smurfit Westrock (SW) closed down more than -3% after reporting Q1 adjusted Ebitda of $1.08 billion, weaker than the consensus of $1.15 billion.

Earnings Reports(5/1/2026)

AES Corp/The (AES), Affiliated Managers Group Inc (AMG), Aon PLC (AON), Ares Management Corp (ARES), AutoNation Inc (AN), Brookfield Renewable Corp (BEPC), Cboe Global Markets Inc (CBOE), Chevron Corp (CVX), Church & Dwight Co Inc (CHD), Colgate-Palmolive Co (CL), Dominion Energy Inc (D), Estee Lauder Cos Inc/The (EL), Exxon Mobil Corp (XOM), Federal Realty Investment Trust (FRT), Gates Industrial Corp PLC (GTES), HF Sinclair Corp (DINO), Lazard Inc (LAZ), Lear Corp (LEA), Liberty Global Ltd (LBTYA), Linde PLC (LIN), LyondellBasell Industries NV (LYB), Madison Square Garden Sports Corp (MSGS), Moderna Inc (MRNA), Newell Brands Inc (NWL), nVent Electric PLC (NVT), OneMain Holdings Inc (OMF), Summit Therapeutics Inc (SMMT), TPG Inc (TPG).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Mercedes-Benz (MBG.DE) plantet bis 2030 4 Milliarden US-Dollar in seine Anlage in Alabama zu investieren, die die erste US-Produktionsstätte des deutschen Automobilherstellers ist.

Bei einer Zeremonie diese Woche wurde die Produktion von 5 Millionen Fahrzeugen seit der Eröffnung im Jahr 1997 gefeiert.

Vance, die 5.800 Mitarbeiter beschäftigt, ist eine von zwei MB-Anlagen, die von der Norfolk Southern (NYSE: NSC) bedient werden. Die andere ist eine Van-Produktionsanlage in North Charleston, S.C., unter den 26 Automobilmontagestützpunkten der Eisenbahn.

Vance exportiert etwa 60 % seiner jährlichen Produktion, wie die Alabama Department of Commerce berichtet.

"Vor 30 Jahren veränderte Mercedes-Benz die Landschaft Alabamas, und es gibt keinen Zweifel, dass die Alabamians die Landschaft von Mercedes-Benz verändert haben", sagte Gouverneurin Kay Ivey bei der Zeremonie. "Wir freuen uns und sind stolz zu sehen, dass diese transformierende Partnerschaft in die nächste Dekade geht, während unser Staat Innovation und Fortschritt in der globalen Automobilindustrie anführt."

"Diese Anlage hat etwas Außergewöhnliches geschaffen, nicht nur Autos, sondern ein Vermächtnis", sagte Michael Schiebe, Mitglied des Mercedes-Benz-Vorstands. "Wir glauben an Tuscaloosa. Wir bleiben, wir wachsen und wir sind entschlossen."

Auch Honda, Hyundai und Mazda-Toyota haben mit ihren eigenen Montageanlagen in Alabama gefolgt, wobei die kombinierten Produktionszahlen mehr als 1 Million Fahrzeuge pro Jahr betragen.

Mercedes produziert die GLE-, GLS- und GLE-Coupé-SUVs in Vance sowie AMG-Leistungsvarianten und die Mercedes-Maybach-GLS. Die vollelektrischen EQE-, EQS- und Mercedes-Maybach-EQS-SUVs werden dort ebenfalls zusammengebaut. Der GLC-SUV soll in den kommenden Jahren den Montagebändern der Anlage beitreten.

Would you like me to adjust the translation to a specific tone or add any particular elements?

Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

Okay, here's a summary of the text, followed by a German translation, aiming for the 600-word limit:

Summary (approx. 580 words)

Broad Arrow Auctions, in partnership with Hagerty, is hosting its fourth annual Amelia Concours Auction on March 6-7 at the Ritz-Carlton, Amelia Island, Florida. This prestigious event will feature over 175 exceptional vehicles, including a highly sought-after 1972 Lamborghini Miura P400 SV, estimated at $3.5 million - $4 million. The auction is the official sale for the renowned Amelia Concours, attracting serious collectors and enthusiasts.

The centerpiece of the auction is a remarkably preserved 1972 Lamborghini Miura P400 SV (chassis number 4976). This car represents a crucial step in supercar development – widely considered the world’s first true supercar. Designed by Marcello Gandini, it featured a transversely mounted V12 engine, a bold design, and innovative engineering. Only 150 examples were produced, with just 21 delivered to the U.S., and this particular vehicle is one of the rarest – a fully evolved split-sump model with factory air conditioning.

The Miura’s history is fascinating. Chassis 4976 underwent a series of modifications, including a power upgrade to 385 horsepower, reflecting the iterative design process of the Miura model. It was initially delivered in Argento Indianapolis Metallizzato with gold lower trim and alloy wheels, and retains its original black leather and grey carpet interior, showing a beautiful patina. The car is replete with desirable factory options – seat belts, hexagonal wheel nuts, a radio, and the Borletti Air Conditioning system.

The car's provenance is particularly noteworthy. It was purchased by Dr. Hector A. Escamilla in 1973 and remained in his collection for over 50 years, meticulously maintained. Despite a repaint in 1978, the car is remarkably original, with only 18,212 miles recorded. The engine has been expertly rebuilt by Motion Products Inc., and the interior, gauges, and switches are all original. Crucially, the engine and bodywork retain their original numbers, confirming its authenticity and condition.

Beyond the Miura, the Amelia Concours Auction offers a diverse collection of supercars and hypercars, catering to a range of collector interests. Highlights include a stunning 2008 Bugatti Veyron EB 16.4 Coupe (estimated $1.9-2.2 million), one of only 76 produced for the U.S., and a 1988 Porsche 959 SC Reimagined by Canepa, a highly desirable recreation of the first Porsche supercar. Other notable vehicles include a 2021 McLaren Elva and a 2019 Ford GT Carbon Series.

The event is more than just an auction; it's an immersive experience. Alongside the vehicles, there will be an elegant evening of bespoke experiences at Reverie, marking the opening night of the Amelia Concours d’Elegance. Broad Arrow Auctions emphasizes the significance of these vehicles, positioning them not just as collector’s items but as iconic symbols of automotive innovation.

German Translation (approx. 615 words)

Zusammenfassung der Broad Arrow Amelia Concours Auktion 2026

Broad Arrow Auctions, in Partnerschaft mit Hagerty, veranstaltet am 6. und 7. März 2026 seine vierte jährliche Amelia Concours Auktion am Ritz-Carlton, Amelia Island, Florida. Diese prestigeträchtige Veranstaltung präsentiert über 175 außergewöhnliche Fahrzeuge, darunter ein hoch begehrtes Exemplar des Lamborghini Miura P400 SV aus dem Jahr 1972, dessen Wert zwischen 3,5 Millionen und 4 Millionen Dollar liegt. Die Auktion ist der offizielle Verkauf der renommierten Amelia Concours und zieht ernsthafte Sammler und Enthusiasten an.

Das Herzstück der Auktion ist ein bemerkenswert gut erhaltenes 1972er Lamborghini Miura P400 SV (Chassis-Nummer 4976). Dieses Fahrzeug stellt einen entscheidenden Schritt in der Entwicklung von Supercars dar – weithin als das weltweit erste wahre Supercar angesehen. Entworfen von Marcello Gandini, verfügte es über ein transversal angeordnetes V12-Motor, ein kühnes Design und innovative Technik. Nur 150 Exemplare wurden produziert, von denen nur 21 in die USA geliefert wurden, und dieses spezielle Fahrzeug ist eines der seltensten – ein voll entwickelter Split-Sumpf-Modell mit werkseitiger Klimaanlage.

Die Geschichte des Miura ist faszinierend. Chassis 4976 wurde einer Reihe von Modifikationen unterzogen, darunter ein Leistungsupgrade auf 385 PS, was den iterativen Designprozess des Miura-Modells widerspiegelt. Es wurde ursprünglich in Argento Indianapolis Metallizzato mit goldfarbenen unteren Verkleidungen und Aluminiumrädern ausgeliefert und bewahrt sein originales schwarzes Lederohren- und graues Teppichinterieur, das einen schönen Patina aufweist. Das Fahrzeug ist mit begehrten Werkselementen ausgestattet – Sicherheitsgurte, Schrauben für Aluminiumräder, ein Radio und das Borletti-Klimaanlagen-System.

Die Herkunft des Fahrzeugs ist besonders bemerkenswert. Es wurde 1973 von Dr. Hector A. Escamilla erworben und blieb über 50 Jahre in seiner Sammlung, sorgfältig gewartet. Trotz einer Lackierung im Jahr 1978 ist das Fahrzeug erstaunlich original, wobei nur 18.212 Meilen erfasst wurden. Der Motor wurde von Motion Products Inc. fachmännisch überholt, und das Interieur, die Instrumente und Schalter sind alle original. Entscheidend ist, dass der Motor und die Karosserie ihre ursprünglichen Nummern behalten, was seine Authentizität und den Zustand bestätigt.

Neben dem Miura bietet die Amelia Concours Auktion eine vielfältige Sammlung von Supersportwagen und Hypercars, die den Interessen einer breiten Palette von Sammlern gerecht werden. Zu den Highlights gehören eine atemberaubende 2008er Bugatti Veyron EB 16.4 Coupe (geschätzt 1,9-2,2 Millionen Dollar), eines von nur 76 für den US-Markt produzierten, und ein 1988er Porsche 959 SC Reimagined by Canepa, eine hoch begehrte Neuinterpretation des ersten Porsche Supercars. Weitere bemerkenswerte Fahrzeuge sind eine 2021er McLaren Elva und ein 2019er Ford GT Carbon Series.

Die Veranstaltung ist mehr als nur eine Auktion; es ist ein immersives Erlebnis. Neben den Fahrzeugen wird es eine elegante Abendveranstaltung mit maßgeschneiderten Erlebnissen im Reverie geben, die die Eröffnungsnacht der Amelia Concours d’Elegance markiert. Broad Arrow Auctions betont die Bedeutung dieser Fahrzeuge und positioniert sie nicht nur als Sammlerstücke, sondern auch als ikonische Symbole der Automobilinnovation.

Let me know if you'd like any specific changes or variations!