Novartis, Boston Scientific Shares Decline; Intel Rises Amid Price Hike Report
Shares of Novartis (NOVN.SW) fell after the pharmaceutical giant faced its third clinical-trial setback in a week. A treatment for a rare muscle-wasting disease failed to meet expectations in late-stage trials, raising concerns about future product development and revenue potential. Boston Scientific's (BSX) stock also declined as it reported that a cybersecurity incident has disrupted operations, affecting the company’s ability to ship products and leading to expected misses on annual sales growth and earnings estimates. The impact of this disruption is likely to weigh heavily on investor sentiment in the near term. In contrast, Intel Corporation's (INTC) shares rose following reports suggesting the chipmaker may increase computer chip prices next month. This potential move could signal improved pricing power amid ongoing supply chain challenges.
Topics: clinical trial failure cybersecurity incident price increase speculation