Shares of Amylyx Pharmaceuticals surged 48.02%, or $10.29, to $31.72 as of 10:06 a.m. EDT Tuesday, extending a dramatic rally that began Monday evening after the biotechnology company announced positive topline results from a pivotal late-stage clinical trial of its lead experimental drug, avexitide.

The company said avexitide reduced Level 2 and Level 3 hypoglycemic events by 55% compared with placebo in its Phase 3 LUCIDITY trial studying post-bariatric hypoglycemia, a condition in which patients who have undergone weight-loss surgery experience dangerously low blood sugar. The statistical significance of the result was notably strong, with a reported p-value of 0.000003, and the trial met all of its predetermined secondary endpoints as well, according to the company’s announcement.

Tuesday’s gains built on a rally that had already been underway before the results were formally announced. Shares climbed roughly 14.5% in after-hours trading Monday after Amylyx first confirmed it would release the LUCIDITY trial’s topline results Tuesday morning, ahead of a scheduled conference call and audio webcast with senior management at 8 a.m. ET. The announcement refined the company’s previous guidance, which had pointed to a third-quarter 2026 timeline for the data release without specifying an exact date.

By Tuesday’s premarket session, shares had climbed further still, moving up approximately 21% to 27.5%, according to various market trackers, with the stock touching $27.32 in premarket trading and briefly reaching $26.76, pushing shares well above the company’s prior 52-week high of $24.60. According to Investing.com, the rally came against a challenging broader market backdrop, with the Nasdaq down 1.2% and the S&P 500 slipping 0.5% at the time, underscoring that Amylyx’s move was driven entirely by company-specific news rather than any broader market tailwind. The wider biotech sector faced similar headwinds Tuesday, making the stock’s outperformance even more pronounced relative to its peers.

The LUCIDITY trial itself was a 16-week, multicenter, randomized, double-blind, placebo-controlled study enrolling 78 participants, evaluating avexitide’s efficacy and safety in adults with post-bariatric hypoglycemia following Roux-en-Y gastric bypass surgery, according to Benzinga’s reporting on the trial design. The last participant was randomized and dosed in the trial in March, according to the company.

Avexitide is a first-in-class glucagon-like peptide-1, or GLP-1, receptor antagonist, meaning it works through a fundamentally different mechanism than the widely used GLP-1 receptor agonist drugs such as Wegovy and Zepbound that have driven much of the recent boom in weight-loss and metabolic medications. Rather than mimicking the hormone to promote weight loss, avexitide blocks a hormone that can trigger excessive insulin production and dangerously low blood sugar following bariatric surgery, a condition for which there is currently no FDA-approved treatment.

The drug has already received both FDA Breakthrough Therapy Designation and Orphan Drug Designation for post-bariatric hypoglycemia, regulatory designations intended to expedite the development and review of therapies addressing serious conditions with significant unmet medical need. According to Blockonomi’s coverage of the results, Amylyx’s management is now targeting a 2027 market introduction for the drug, with preliminary work on a New Drug Application submission already underway.

Wall Street analysts moved quickly to reflect the positive trial results in their outlooks. Investment firm Mizuho raised its price target on Amylyx shares to $30 from $24 while maintaining an Outperform rating following the announcement. That increase followed an earlier price target raise from Baird, which lifted its target to $28 from $19 on Aug. 7 ahead of the trial’s expected readout, reflecting growing analyst optimism in the weeks leading up to Tuesday’s data release.

Tuesday’s rally marks a significant milestone for a company that has faced considerable setbacks in recent years. Amylyx’s previously approved product, Relyvrio, a treatment for amyotrophic lateral sclerosis, was withdrawn from the market in 2024 after failing a confirmatory late-stage clinical trial, a setback that left the company without any FDA-approved therapies on the market as of this year. Following that failure, avexitide became the company’s lead development program, making Tuesday’s positive Phase 3 results a critical validation for Amylyx’s post-Relyvrio strategy.

Retail investor sentiment had shifted notably in the lead-up to the trial results. According to Yahoo Finance’s reporting citing data from the social investing platform Stocktwits, retail sentiment toward Amylyx shares moved from bearish to bullish territory over the roughly 24-hour period following the company’s Monday announcement, while overall message volume discussing the stock rose sharply from typically low levels to significantly elevated activity, reflecting growing anticipation among individual investors ahead of the results.

Amylyx has continued expanding its broader pipeline beyond avexitide in recent months. In January, the company announced the nomination of AMX0318, a novel, long-acting GLP-1 receptor antagonist developed through a collaboration with Gubra A/S, as a new development candidate targeting post-bariatric hypoglycemia and other rare diseases. The compound was identified using Gubra’s proprietary, AI-driven peptide optimization platform, and Amylyx has said it plans to begin IND-enabling studies for the candidate later this year, with a target of filing an investigational new drug application in 2027.

Ahead of Tuesday’s results, Bank of America had maintained a buy rating on Amylyx shares while noting that the company’s recent financing activities had secured its cash runway through 2028, providing the biotech with financial flexibility to continue advancing its pipeline regardless of the LUCIDITY trial’s outcome. That financial cushion is likely to take on renewed significance now that the company appears positioned to move toward a regulatory submission for avexitide following Tuesday’s positive results.

With shares trading at a fresh 52-week high well above their prior ceiling and multiple analysts revising price targets upward in the immediate aftermath of the announcement, Amylyx’s stock performance Tuesday reflects a significant shift in investor confidence for a company that had spent much of the past two years working to rebuild its pipeline and market credibility following the withdrawal of its only previously approved therapy. Investors are likely to continue closely monitoring the company’s regulatory submission timeline for avexitide in the coming months as Amylyx works toward its targeted 2027 commercial launch.

Shares of Pinterest Inc. climbed 2.40%, or 56 cents, to $23.64 as of 10:15 a.m. EDT Tuesday, extending a gradual recovery from the sharp selloff the stock experienced earlier this month following its second-quarter earnings report, even as the company’s shares remain down significantly for the year.

The visual discovery and search platform reported second-quarter results on Aug. 4 that beat Wall Street expectations on nearly every headline metric, yet still saw shares tumble 7% in after-hours trading that evening after the company issued sales guidance investors viewed as underwhelming relative to the strength of the quarter itself.

According to figures compiled by LSEG and reported by CNBC, Pinterest posted adjusted earnings per share of 43 cents, well ahead of the 36-cent consensus estimate, on revenue of $1.18 billion, topping expectations of $1.15 billion. Total revenue grew 18% year over year from $998.2 million in the same period last year. The company reported a net loss of $47 million, or 8 cents per share, compared with net income of roughly $38.76 million, or 6 cents per share, in the prior-year quarter.

Despite the earnings beat, Pinterest’s forward guidance drove the immediate negative reaction. The company projected third-quarter revenue of between $1.19 billion and $1.21 billion, with the midpoint of $1.2 billion falling in line with, but not meaningfully ahead of, analyst expectations, a signal that some investors interpreted as evidence of intensifying competition for digital advertising dollars from larger rivals, including Meta’s Instagram platform.

Pinterest CEO Bill Ready struck an upbeat tone in the company’s earnings release despite the guidance-driven stock reaction. “Our Q2 results reflect the scale and strength of our platform: more than $1.1 billion in revenue, growing 18%, and 640 million monthly active users, our 11th consecutive quarter of double digit user growth,” Ready said. He pointed specifically to the company’s growing investment in artificial intelligence as a driver of its underlying business momentum. “AI is at the heart of our momentum and is a clear accelerant for our business. It is trained on our unique human curation of style and taste, making Pinterest more personalized and actionable for users, while improving performance for advertisers,” Ready said.

Pinterest’s global monthly active users grew 11% year over year to 640 million during the quarter, extending what the company described as its 11th consecutive quarter of double-digit user growth. Adjusted EBITDA came in at $311 million, with an adjusted EBITDA margin that Simply Wall St reported had risen to 26% for the quarter, alongside robust free cash flow of $270 million and net cash from operating activities of $293 million.

According to Simply Wall St’s analysis of the results, bulls on the stock have pointed to Pinterest’s AI-driven personalization tools and shopping features as a path toward higher user engagement, stronger advertising performance and improved margins over time. The company’s user base skews increasingly young, with Generation Z now making up more than half of Pinterest’s total monthly active users, a demographic trend that supports the platform’s positioning as a discovery-focused, visually oriented service distinct from more traditional social media feeds. Revenue growth during the quarter was not driven by discounting, with ad impressions up 16% and average pricing per ad up 1%, according to Simply Wall St’s breakdown of the results.

The company has continued expanding its AI and advertising technology infrastructure through both internal development and acquisitions. Pinterest’s first-quarter results, reported earlier this year, highlighted the company’s acquisition of tvScientific, a connected television advertising platform, as part of a broader push to expand beyond its core mobile and desktop advertising business into new formats. Pinterest also signed a long-term cloud services agreement with Amazon Web Services valued at $4 billion through 2031, described by the company as the largest infrastructure commitment in its history, focused on supporting AI-driven visual search and recommendation capabilities for its expanding user base.

During the company’s second-quarter earnings call, Ready also addressed Pinterest’s growing use of freely available, open-weight artificial intelligence models, a topic that Reuters noted has drawn increasing attention from corporate boardrooms as companies weigh the high costs associated with proprietary AI infrastructure against more accessible, openly licensed alternatives.

Despite the underlying growth metrics, Pinterest shares have significantly underperformed over the course of 2026. According to Simply Wall St data from earlier this year, the stock was down roughly 23.7% year to date as of the first-quarter reporting period, even as current-quarter earnings estimates had been revised upward by nearly 19% over the same window, reflecting persistent investor concern about advertising demand, pricing pressure and competitive positioning despite continued growth in the company’s underlying user and revenue metrics.

Insider selling activity has also drawn some investor attention in recent months. Pinterest co-founder Benjamin Silbermann has continued a pattern of regular share sales through Charles Schwab & Co., according to SEC filings, including a planned sale of 46,875 shares valued at approximately $1.09 million disclosed earlier this month. Filings show a consistent pattern of similarly sized 46,875-share transactions occurring monthly between June and August, part of Silbermann’s ongoing disposition of Founders Shares originally dated from 2019, alongside smaller transactions such as an 8,414-share sale in May. Such planned, scheduled insider sales are common among long-tenured company founders and executives and do not necessarily signal a change in outlook regarding the company’s prospects.

Pinterest currently trades at a price-to-earnings ratio of roughly 53.1 times, according to Simply Wall St’s valuation analysis, a multiple that reflects continued investor expectations for future earnings growth even amid the stock’s underperformance so far this year. With Pinterest’s third-quarter earnings report not expected until early November, investors are likely to continue closely watching the company’s user growth trends, AI-driven advertising tools, and competitive positioning relative to larger platforms like Meta’s Instagram as key indicators of whether the stock can sustain its recent modest recovery from the post-earnings selloff earlier this month.

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The Claude chatbot maker’s proposed expansion of its so-called revolver is drawing a clutch of banks seeking to bolster their pitch for roles on the IPO, said the people, who asked not to be identified because the information isn’t public.

Discussions are ongoing and the company could decide to limit the size of the revolver to the target or even below, the people said.

Anthropic has asked the most active banks leading the credit line to lend about $1.25 billion, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, some of the people said.

Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid by a borrower. When a large capital market transaction is expected, a higher ranking in a loan is likely to correspond to a more active role in the upcoming deal.

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A representative for Anthropic declined to comment.
The AI developer’s race to go public gives it an opportunity to follow the lead of companies like SpaceX, which expanded its revolving credit facility to $5 billion in May from an earlier $1.5 billion, the prospectus showed, just a month before its record-breaking IPO. The bank lineup on that offering was substantially the same as those working on the IPO.A $10 billion-plus revolving credit line would be a substantial increase over a $2.5 billion five-year facility Anthropic secured last year, with participation from Morgan Stanley, Barclays Plc, Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Royal Bank of Canada and Mitsubishi UFJ Financial Group, according to a LinkedIn post at the time.

Anthropic is working with Morgan Stanley, Goldman Sachs and JPMorgan on the IPO, Bloomberg News has reported.

The expanded lending facility comes weeks after banks led by Morgan Stanley were in talks to line up $15 billion of debt for an Anthropic data-center project in Texas, backstopped by Alphabet Inc.’s Google, Bloomberg News reported. That package for data-center developer Nexus Data Centers would consist of a $14 billion bridge loan and a revolving credit facility, people familiar with the matter have said.

The AI race has fired up the IPO market, with listings this year raising $257 billion, excluding blank-check firms and other financial vehicles, according to data compiled by Bloomberg. That’s the most raised in a year since 2021, the data show.

Anthropic and its rival OpenAI have filed confidential paperwork to go public, with Anthropic expected to make its Wall Street debut as soon as this fall, ahead of OpenAI.

Bank of America Corp. handed a $520 million credit line to OpenAI earlier this summer as it joined an existing undrawn facility set up by competitors, Bloomberg News reported, boosting the capital available for OpenAI to more than $5 billion.

Anthropic’s run rate, a metric that projects full-year revenuefrom a shorter period, hit $65 billion by the end of July, Bloomberg News reported on Monday. The dramatic acceleration in revenue bolsters Anthropic’s plans for a public listing.

The company reported a preliminary revenue figure of more than $11.5 billion in its latest completed quarter, compared with $787 million in the corresponding period in 2025, according to documents seen by Bloomberg News. It also reported positive adjusted operating income for the quarter, the documents show.

Anthropic is meeting with investors ahead of its potential mega-IPO, people familiar with the matter said in July.

Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.

The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work over larger projects.

“Our second quarter results exceeded our expectations. We saw broad-based demand across the business as customers continued to engage in smaller projects,” Home Depot Chief Financial Officer Richard McPhail said.

Shoppers also spent more per transaction. Home Depot’s average ticket rose 2.8% from a year earlier to $92.50, while comparable customer transactions declined 1%.

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Customers shop at a Home Depot store on August 19, 2025, in Chicago, Illinois. (Scott Olson/Getty Images / Getty Images)

The spending pattern comes as the housing market remains constrained by affordability pressures, potentially limiting demand for larger renovations that are more likely to require financing.

Home Depot confirmed hundreds of job cuts tied to its Atlanta-based support center. (Mario Tama/Getty Images / Getty Images)

Existing-home sales fell 1.7% in July from the previous month to a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors. Meanwhile, the median existing-home price rose 2% from a year earlier to $434,100.

Borrowing costs also remain elevated. The average rate on a 30-year fixed mortgage was 6.67% as of Aug. 13, according to Freddie Mac, up from 6.58% a year earlier.

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High borrowing costs and home prices can raise the hurdle for home purchases and larger renovation projects, even as homeowners continue spending on smaller projects around the house.

Home Depot announced it will cut about 800 jobs tied to its Atlanta store support center as part of a corporate restructuring. (Brandon Bell/Getty Images / Getty Images)

Home Depot reported second-quarter net earnings of $4.8 billion, or $4.79 per diluted share. Adjusted earnings were $4.92 per share.

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Despite the uneven housing environment, the Atlanta-based retailer reaffirmed its fiscal 2026 outlook. Home Depot continues to expect total sales growth of approximately 2.5% to 4.5% and comparable sales growth ranging from flat to 2% for the year. The sales guidance is consistent with the outlook Home Depot issued earlier in fiscal 2026.

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New York’s business climate is back in the spotlight after Gov. Kathy Hochul’s pause on new hyperscale data centers added to a broader debate over whether the state’s energy and economic policies are pushing investment elsewhere.

Rep. Mike Lawler, R-N.Y., joined FOX Business’ Cheryl Casone on “Mornings with Maria” to discuss New York’s energy policies, business climate and continued taxpayer out-migration.

New York Gov. Kathy Hochul speaks during a press conference. (Michael M. Santiago / Getty Images)

Hochul announced a statewide moratorium of up to one year on July 14 on new hyperscale data centers while New York develops a regulatory framework intended to protect utility ratepayers and address the facilities’ energy and infrastructure demands. The pause applies to state environmental permits for new hyperscale data centers.

Lawler argued the move sends the wrong message to companies considering investing in New York.

“What she is saying is, don’t come here. Go do your business elsewhere, which is why New York State leads the nation in out-migration,” Lawler said. “It’s why it is a terrible place to do business and why people are expanding in Florida and Texas and Tennessee and North Carolina and South Carolina and elsewhere. We have the highest tax burden and the worst business climate.”

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New York has experienced net out-migration among part-year resident tax filers every year since 2015, according to state Comptroller Thomas DiNapoli’s office. In 2024, 134,913 part-year resident filers left the state while 121,251 moved in, resulting in a net loss of 13,662 filers. The pace, however, slowed considerably from the pandemic-era surge.

Lawler also tied the state’s business challenges to its energy policies, pointing to nuclear plant closures, restrictions on natural gas and pipeline projects and electrification requirements.

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“If you want to address these problems, you need to have a coherent economic and energy policy,” Lawler said. “And that is fundamental if New York is going to prosper moving forward.”

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