Labcorp Holdings Inc (LH) News & EventsLHLabcorp Holdings Inc

Myriad Genetics Sells Prenatal Health Testing Business to Labcorp for $210M

After Myriad Genetics (MYGN) announced a deal to sell its Prenatal Health testing business to Labcorp (LH) for $210M in cash plus closing inventory, TD Cowen analyst Kyle Boucher said the proceeds came in ahead of expectations and that the deal "makes sense" as it simplifies the story and portfolio, should help growth and profitability, and allows more focus on the Cancer Care Continuum. The firm, which adds that gaining visibility on growth "is key," keeps a Hold rating and $4.50 price target on Myriad shares.

U.S. 10-Year Treasury Yield Falls to Near One-Month Lows

The yield on the U.S. 10-year Treasury note fell on Tuesday, hovering near one-month lows, following weaker housing data while investors also continued to assess persistent inflationary pressures ahead of the Fed's interest rate decision next week. Housing starts fell 5.2% in September, while pending home sales dropped to a record low, reflecting the continued strain of elevated mortgage rates on housing demand. The Fed is widely expected to leave interest rates unchanged next week, while markets anticipate a 25 basis point rate hike in December. Meanwhile, crude oil prices moved lower and stocks turned higher following an unconfirmed report from Qatari newspaper Al-Araby Al-Jadeed that Qatar and Pakistan presented a mediation proposal to address the demands of the U.S. and Iran.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:General Motorsreported better-than-expected Q3 sales and earnings and approved a new $20B share repurchase planGE Aerospace posted a "beat and raise" Q3 reportSalesforceagreed to acquire Brazefor $5.66B in enterprise value, or $47.50 per share in cashByteDance, Alibabaand Tencenthave ordered over 3M NvidiaRTX PRO 5500 graphics cards for over $35B, Reuters reportsIndustrial conglomerate 3Mlifted its annual profit forecast as cost-control initiatives and higher prices support margins2. WALL STREET CALLS:Loop Capital downgraded Appleto Hold on iPhone concernsAkamaiupgraded to Strong Buy at Raymond James following recent pullbackBarclays downgraded NuScale Powerto Underweight on commercial delaysBlackRockupgraded to Buy at TD CowenJefferies downgraded Elancoand Zoetisto Hold3. AROUND THE WEB:NRx Pharmaceuticalsis advancing Ketafree, a preservative-free ketamine formulation, and is seeking FDA approval while arguing that benzethonium chloride, a preservative used in most ketamine products, poses health risks, a claim it has not substantiated with evidence, NY Times saysTelesat'screditors have proposed a C$3.2B deal to help the company pay down a coming debt maturity and avert a default, WSJ reportsAustralia is set to sue Meta'sFacebook, TikTok, as well as other major digital platforms for not complying with the country's social media ban for children under 16, Bloomberg saysAlphabet'sWaymo, which currently operates about 4,000 cars, is looking to use the $5B it has recently borrowed to expand its fleet to 8,000 vehicles by the end of 2026 and grow that number to 20,000 by the end of 2027, Semafor reportsNetflixis overhauling its creative leadership in hopes of getting domestic audiences to watch more of its content, WSJ reports4. MOVERS:Myriad Genetics (MYRD) gains after announcing it will sell its Prenatal Health testing business to LabcorpHertzincreases after announcing Oro Mobility secured an $80M strategic equity investment from a consortium of investorsEquifaxhigher after reporting Q3 results, providing guidance for Q4, and narrowing its outlook for FY26Borr Drillinglower after Fearnley downgraded the stock to HoldBaxterfalls after the FDA issued a warning letter following an inspection of its facility5. EARNINGS/GUIDANCE:RTXreported Q3 results and raised its guidance for FY26Krogerbacked its guidance for FY26Ally Financialreported Q3 results, with EPS and revenue beating consensusValmontreported Q3 results and increased its outlook for FY26, with CEO Avner Applbaum commenting this was "another quarter of sales and earnings growth"Genuine Partsreported Q3 results and narrowed its guidance for FY26INDEXES:Near midday, the Dow was up 513.06, or 0.99%, to 52,479.09, the Nasdaq was up 76.22, or 0.29%, to 26,507.11, and the S&P 500 was up 35.46, or 0.46%, to 7,726.19.

Dow Rises 556.21 Points, Nasdaq Ends Little Changed

The Dow advanced and the Nasdaq finished little changed, but ended well off its worst levels, as concerns around overspending on AI led to underperformance in the tech-heavy index. Meanwhile, the producer price index rose 1.3% month over month, the largest increase since March 2022, following a 0.4% gain in August and exceeding economists' expectations for a 0.6% advance. On an annual basis, producer prices climbed 6.3%, up from 5.6% in August and the highest rate since December 2022.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Anthropic informed prospective investors that its Q3 revenue reached $16.8B, as the Claude maker forges ahead with plans for an IPO, Bloomberg reportsTSMCreported better-than-expected Q3 resultsPenske Automotiveagreed to be taken private in a $16.3B transactionCCC Intelligent Solutionsagreed to be acquired by GTCR and Elliott for $6.1BMetarolled out Muse Spark Open on AppleM5 Ultra Macs2. WALL STREET CALLS:Deutsche Bank upgraded Walmartto Buy on favorable 2027 setupSpotifydowngraded to Hold at StoneX on "tempered" gross margin viewQuantinuumupgraded to Overweight at Morgan StanleyPayPalreinstated at Underperform, down from Neutral, at BofACarMaxdouble upgraded to Buy from Underperform at BofA3. AROUND THE WEB:Appleclosed above a $5T market capitalization on Wednesday, ending the day at $5.005T, the second company after Nvidiato do so, WSJ reportsLone Star and Atlas Holdings are both exploring "multibillion-dollar bids" for International Paper'sEuropean packaging business, previously known as DS Smith, FT saysNvidia CEO Jensen Huang said the chipmaker "absolutely must" work with Chinese AI companies on monitoring risks, telling CNBC that AI is "potentially dangerous," and that he has ongoing "dialogues" with researchers in ChinaSpaceXhas restricted some Starlink services in Ukraine by disabling military-grade terminals traveling above 100 mph, Reuters reportsSignet Jewelersand Richemontare in talks to join the Global Diamond Consortium to buy diamond miner De Beers from Anglo American, Bloomberg says4. MOVERS:OPKO Healthgained after entering into an agreement for Labcorpto acquire select assets of OPKO Health subsidiary BioReference HealthEricssonincreased in New York after reporting Q3 results and announcing with Verizonthe completion of the first 6G field callRecursion Pharmaceuticalswas higher after reporting data from its REC-1245 and REC-4881 trials, announcing Sanofioptioned the first development candidate from their multi-program research collaboration, and pricing 61.54M shares of its stockCybersecurity companies including CrowdStrikeand Palo Alto Networkswere lower after Semafor reported that Perplexity is "giving away" its AI sandbox SPACEAquestive Therapeuticsfell after announcing the FDA acknowledged its resubmission of the NDA for Anaphylm sublingual film5. EARNINGS/GUIDANCE:FMCcut its Q3 revenue guidance, saying it is facing slower-than-expected demand from channel customers in key marketsPrologisreported Q3 results and raised its outlook for FY26, with CEO Daniel Letter saying the company "executed well" this quarter"ManpowerGroupreported Q3 results, with EPS in-line with consensusU.S. Bancorpreported Q3 results, provided guidance for Q4, and raised its outlook for FY26PNC Financialreported Q3 results with EPS beating consensusINDEXES:The Dow rose 556.21, or 1.08%, to 52,177.69, the Nasdaq gained 20.16, or 0.08%, to 26,713.03, and the S&P 500 advanced 25.12, or 0.33%, to 7,744.06.