
Mamdani Talks ‘Intifada', Taxes in Grilling by Business Leaders
Mamdani, the 33-year-old democratic socialist who shocked New York City's business and political establishment by beating Andrew Cuomo in last month's Democratic mayoral primary, met Tuesday with about 100 business leaders from the Partnership for New York City. The group is a 350-member coalition of the city's largest banks, media companies, and investment, real estate, and law firms.
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New York Post
23 minutes ago
- New York Post
Zohran Mamdani facing key Dems at DC breakfast hosted by AOC — after setting off political earthquake
New York City mayoral frontrunner Zohran Mamdani trekked to Washington DC Wednesday to try and rally support from fellow Democrats after his stunning primary win set off a political earthquake within the party. Mamdani was in the nation's capital for a breakfast hosted by fellow socialist, Rep. Alexandria Ocasio-Cortez, at the National Democratic Club, according to an event flier. Ocasio-Cortez, who loudly backed Mamdani during the primary, said she was eager for people in DC to meet her fellow lefty firebrand face-to- face to hear his plan for the Big Apple. Advertisement 'I think a lot of people just need to get to know folks before they issue an endorsement. I hope that this conversation can be constructive to bring the party together and rally behind our nominee,' Ocasio-Cortez said, according to Fox News. It wasn't immediately clear if other key congressional Dems — including House Minority Leader Rep. Hakeem Jeffries and Senate Minority Leader Sen. Chuck Schumer — would attend the event. Neither Jeffries nor Schumer, both New Yorkers, have publicly endorsed Mamdani yet. Advertisement 'I'm excited to go to Washington, DC, to speak with Congressman Jeffries, to speak with Senator Schumer, to speak with leaders of our party across the country,' Mamdani said on Tuesday. Jeffries and Schumer both signaled this week they planned to meet with Mamdani back in New York — and not in DC.


Forbes
25 minutes ago
- Forbes
Trading Business In Focus As Goldman Reports Q2
CHONGQING, CHINA - JULY 13: In this photo illustration, a smartphone displaying the logo of The ... More Goldman Sachs Group, Inc. (NYSE: GS), a leading American multinational investment bank and financial services company, is held in front of a screen showing the company's latest stock market chart on July 13, 2025 in Chongqing, China. (Photo illustration by) Goldman Sachs (NYSE:GS) is set to announce its Q2 2025 earnings on Wednesday, July 16, 2025. Consensus forecasts indicate that revenue is expected to rise by approximately 6% to $13.5 billion, while earnings are anticipated to be about $9.68 per share, reflecting an 11% increase compared to the previous year. While the overall economic forecast remains ambiguous due to persistent worries regarding tariffs affecting major trading partners—which may incite inflation and hinder growth—Goldman is projected to gain from robust performance in its trading division. Additionally, Goldman's asset and wealth management sector is likely to perform well, given the market's strength during Q2. The bank managed a record $3.17 trillion in assets in Q1, and this figure is expected to have increased further in Q2, supported by an approximate 10% rise in the S&P 500 index during the quarter. However, investment banking revenues at the bank are expected to stay under strain, as geopolitical tensions and tariff-induced uncertainties continue to impact mergers, acquisitions, and IPO activities. The company possesses a current market capitalization of $223 billion. Revenue over the past twelve months reached $54 billion, with net income recorded at $15 billion. Therefore, if you are looking for potential gains with lower volatility than individual stocks, the Trefis High Quality portfolio offers an alternative, having outperformed the S&P 500 and generated returns over 91% since its inception. View earnings reaction history of all stocks Goldman Sachs' Historical Chances of Positive Post-Earnings Return A few insights into one-day (1D) post-earnings returns: Further data regarding the observed 5-Day (5D) and 21-Day (21D) returns post-earnings, along with the associated statistics, are summarized in the table below. GS 1D, 5D, and 21D Post Earnings Return Correlation Between 1D, 5D, and 21D Historical Returns A relatively lower-risk strategy (although not efficient if the correlation is weak) involves examining the correlation between short-term and medium-term returns following earnings, identifying the pair with the highest correlation, and executing the suitable trade. For instance, if the correlation between 1D and 5D is the strongest, a trader could take a "long" position for the following 5 days if the 1D post-earnings return is positive. Below is some correlation data derived from 5-year and 3-year (more recent) history. Please note that the correlation between 1D and 5D refers to the relationship between 1D post-earnings returns and the subsequent 5D returns. GS Correlation Between 1D, 5D, and 21D Historical Returns Discover more about the Trefis RV strategy, which has outperformed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000), delivering strong returns for investors. Additionally, if you're seeking potential gains with a smoother experience than an individual stock like Goldman Sachs, consider the High Quality portfolio, which has surpassed the S&P and recorded returns exceeding 91% since its inception.
Yahoo
42 minutes ago
- Yahoo
This Blue-Chip Stock Is 20% Off Its Highs. Should You Buy the Dip?
Pfizer (PFE), a global pharmaceutical giant that was once a pandemic darling, is now facing turbulence. Following a period of extraordinary vaccine-driven revenue, the company now faces a more sobering reality. Declining pandemic-related sales and increased competition in key therapeutic areas have raised investor concerns about the company's future. Pfizer stock has fallen 15.5% in the last year. Investors are now wondering whether Pfizer's ambitious cost-cutting initiatives and new pipeline drugs will revive the company's declining stock price. Retirement Ready: 3 Dividend Stocks to Set and Forget Forget Chasing Yields: These 3 Dividend Stocks Are Built to Last Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. In the first quarter of 2025, Pfizer reported revenues of $13.7 billion, down 8% year-over-year. This decline stemmed from an expected drop in Paxlovid sales, as well as changes in U.S. Medicare Part D under the Inflation Reduction Act (IRA). Management emphasized that the decline in legacy blockbusters such as Paxlovid, Eliquis, Xeljanz, and Ibrance was offset by growth in products such as Vyndaqel, Comirnaty, Padcev, Nurtec, and Lorbrena. However, the company's bottom line showed encouraging growth. Adjusted diluted earnings per share (EPS) were $0.92, exceeding consensus expectations and representing a 12% from the prior-year period. This increase was driven by higher gross margins, tighter cost controls, and favorable tax resolutions. The adjusted gross margin increased to 81%, reflecting Pfizer's improved product mix and reduced royalty obligations. During the Q1 earnings call, Pfizer CEO Albert Bourla emphasized the company's ongoing transformation and discipline across all operations. He emphasized concentrating less on underperforming assets and more on late-stage, high-potential assets in oncology, vaccines, inflammation and immunology (I&I), and internal medicine. In April, Pfizer discontinued danuglipron, an obesity drug in its internal pipeline. While the decision appeared to be a setback for investors, it reflects Pfizer's renewed willingness to cut losses early and redirect efforts. Importantly, Pfizer anticipates total net savings of $7.7 billion by 2027, which it intends to reinvest in pipeline development. This includes at least $4.5 billion in total net cost savings by the end of 2025. These new savings will be primarily achieved through the use of automation, artificial intelligence (AI), and digital business process simplification. These savings could help boost both earnings growth and investment in innovation. While cost cuts have temporarily stabilized margins, investor sentiment ultimately depends on Pfizer's pipeline development. The company has around 108 clinical programs underway. 2025 is shaping up to be a turning point for pipeline milestones, with at least four regulatory decisions and up to nine Phase 3 readouts. While its pipeline includes several disease areas, oncology stands out as the most immediate and significant growth driver. One notable candidate is sasanlimab, which is being tested in non-muscle invasive bladder cancer (NMIBC). The Phase 3 CREST trial results were positive, indicating promise in a field where treatment has not advanced in over 30 years. Padcev, a key component of Pfizer's oncology portfolio, is another critical asset. Along with Merck's (MRK) pembrolizumab, it is currently the most commonly prescribed first-line treatment for locally advanced/metastatic urothelial cancer in the U.S. Additionally, Elrexfio is a therapy for relapsed/refractory multiple myeloma. A Phase 3 readout is expected this year, which could lead to a significantly larger patient pool and longer treatment durations. Pfizer's antibody-drug conjugates (ADCs), specifically PDL1 vedotin and sigvotatug vedotin (SV), are arguably the company's most promising candidates. Both are intended to treat non-small cell lung cancer (NSCLC), the world's most common and lethal cancer. If successful, these best-in-class ADCs could change the global standard of care in this critical area. Vaccines are another area of strategic investment. Pfizer hopes that its fourth- and fifth-generation pneumococcal conjugate vaccines (PCVs) will solidify its leadership in pneumococcal prevention. Despite recent revenue struggles, Pfizer continues to prioritize long-term shareholder value, proving its worth as a defensive dividend stock. In the first quarter, it returned $2.4 billion to shareholders through dividends. It offers an appealing yield of 7%, which is significantly higher than the healthcare average of 1.6%. On Wall Street, Pfizer stock is rated a 'Moderate Buy.' Out of the 22 analysts who cover PFE stock, six rate it a 'Strong Buy,' one says it is a 'Moderate Buy,' 14 rate it a 'Hold," and one suggests a 'Strong Sell.' Its average price target of $27.71 suggests that the stock can increase by 12.7% over current levels. However, its high target price of $33 implies upside potential of 34% over the next 12 months. Pfizer is clearly at a crossroads. With the COVID-19 tailwinds gone, the company must now show that it can reinvent itself as a leaner, innovation-driven pharma powerhouse. Its cost-cutting strategy is working well, and it has laid the groundwork for the next phase of growth, particularly in oncology, vaccines, and internal medicine. However, Pfizer's stock revival will depend on whether the maturing pipeline can generate significant new revenue streams. Investors with patience and a long-term outlook may find Pfizer's reset an appealing entry point, with its stock trading 22% lower than its 52-week high of $31.54. However, for risk-averse investors, Pfizer remains a biotech stock to watch from the sidelines. On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data