Diamonds and Dogs

5/3/24

Amgen (AMGN) having a good day on earnings and clinical trials for their weight loss drug. The biotech is up 12%, one of its best days in years as they beat expectations, but the better news was they are moving injectable obesity drug into a phase 3 trial. One analyst upgraded the stock on optimism their weight loss drug could become a blockbuster due to Amgen's capacity and expertise.

Expedia (EXPE) getting beat by Bookings.com. The travel site stock is down 13% even as they beat expectations. However, gross bookings for the company's platforms (Expedia.com, Hotels.com and Vrbo) came in lower than expected. Expedia also lowered its outlook for the rest of the year. Rival, Booking Holdings is higher on earnings as they grew notably faster than Expedia across the board in terms of room nights, bookings, and revenue, while maintaining much higher EBITDA .