On this episode of Stock Movers:
- Home Depot (HD) shares have swung this morning despite reporting earnings that fell short of estimates. Home Depot's sales came in shy of expectations, with comparable sales dropping 0.3% in the three months that ended May 4. The company's CFO attributed the slowdown to weakening consumer sentiment and economic turbulence, with consumers deferring larger projects due to the rate environment.
- 3SBio (1530) shares have soared in Hong Kong after striking a licensing deal with Pfizer (PFE). Pfizer secrued exclusive global rights to 3SBio's cancer treatment candidate. It is a a licensing deal that could be worth $6.05 billion.
- UnitedHealth Group (UNH) shares are up after extending a rebound yesterday from lows last week, climbing as much as 8.3% on Monday after newly appointed CEO Stephen J Hemsley and CFO John F Rex bought about $30 million worth of the stock, according to SEC filings.
- Coinbase (COIN) is higher this morning in line with the Bitcoin trade. It comes as the US Senate overcame a procedural blockade on stablecoin legislation, paving the way for debate on the Senate floor, with a possible vote as soon as this week. The bill still faces opposition from progressive Democrats, who argue it lacks safeguards to prevent stablecoins from endangering the financial system and allowing criminals to exploit them.
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