On this episode of Stock Movers:
- Apple (AAPL) shares tumbled by the most in 16 months after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.
- Amazon (AMZN) shares surged after the company reported cloud-computing revenue accelerated for a fifth straight quarter, easing investors’ concerns that it won’t produce a return on huge expenditures to meet the booming demand for artificial intelligence.
- Novo Nordisk (NVO)'s experimental drug failed to reduce the risk of heart attacks and strokes in a large study, a blow to the drugmaker’s growth prospects beyond obesity and diabetes. The shot called ziltivekimab reduced the protein it was targeting in the body, but that didn’t translate into an impact on the risk of severe cardiovascular problems in the late-stage clinical trial, the Danish drugmaker said Friday. Analysts had widely expected at least some benefit, though there had been debate over how large it would be. Novo shares fell as much as 10.5%, the most since February.
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