Latest news with #BauschHealth
Yahoo
16 hours ago
- Business
- Yahoo
Bausch Health (BHC) Lags Q2 Earnings Estimates
Bausch Health (BHC) came out with quarterly earnings of $0.9 per share, missing the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -7.22%. A quarter ago, it was expected that this drugmaker would post earnings of $0.83 per share when it actually produced earnings of $0.59, delivering a surprise of -28.92%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Bausch, which belongs to the Zacks Medical - Generic Drugs industry, posted revenues of $2.53 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.42%. This compares to year-ago revenues of $2.4 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Bausch shares have lost about 15.4% since the beginning of the year versus the S&P 500's gain of 8.3%. What's Next for Bausch? While Bausch has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Bausch was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.13 on $2.57 billion in revenues for the coming quarter and $3.96 on $10 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Generic Drugs is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Amphastar Pharmaceuticals (AMPH), another stock in the same industry, has yet to report results for the quarter ended June 2025. The results are expected to be released on August 7. This specialty pharmaceutical company is expected to post quarterly earnings of $0.71 per share in its upcoming report, which represents a year-over-year change of -24.5%. The consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. Amphastar Pharmaceuticals' revenues are expected to be $169.84 million, down 6.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
17 hours ago
- Business
- Yahoo
Bausch (BHC) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2025, Bausch Health (BHC) reported revenue of $2.53 billion, up 5.3% over the same period last year. EPS came in at $0.90, compared to $0.89 in the year-ago quarter. The reported revenue represents a surprise of +2.42% over the Zacks Consensus Estimate of $2.47 billion. With the consensus EPS estimate being $0.97, the EPS surprise was -7.22%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Bausch performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Revenues- Diversified Products- Dentistry: $25 million versus the three-analyst average estimate of $24.59 million. The reported number represents a year-over-year change of 0%. Revenues- Bausch + Lomb- Surgical: $216 million compared to the $220.24 million average estimate based on three analysts. The reported number represents a change of +3.4% year over year. Revenues- Diversified Products- Ortho Dermatology: $55 million versus the three-analyst average estimate of $58.84 million. The reported number represents a year-over-year change of -25.7%. Revenues- Diversified Products- Neuro: $118 million versus the three-analyst average estimate of $122.87 million. The reported number represents a year-over-year change of -7.8%. Revenues- Diversified Products- Generics: $21 million versus $18.15 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change. Revenues- Salix: $627 million versus the three-analyst average estimate of $588.75 million. The reported number represents a year-over-year change of +12.4%. Revenues- International: $278 million versus $279.64 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change. Revenues- Solta Medical: $128 million compared to the $123.2 million average estimate based on three analysts. The reported number represents a change of +25.5% year over year. Revenues- Diversified Products: $219 million compared to the $224.52 million average estimate based on three analysts. The reported number represents a change of -12.8% year over year. Revenues- Total Bausch + Lomb revenues: $1.28 billion versus the three-analyst average estimate of $1.25 billion. The reported number represents a year-over-year change of +5.1%. Revenues- Total Bausch Health (excl. B+L): $1.25 billion versus the three-analyst average estimate of $1.22 billion. The reported number represents a year-over-year change of +5.5%. Revenues- Bausch + Lomb- Ophthalmic Pharmaceuticals: $309 million versus the three-analyst average estimate of $305.73 million. The reported number represents a year-over-year change of -0.3%. View all Key Company Metrics for Bausch here>>> Shares of Bausch have returned +0.4% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
2 days ago
- Business
- Yahoo
Bausch Health to Acquire DURECT Corporation, Strengthening Commitment to Developing Innovative Solutions for Patients with Liver Disease
DURECT's lead asset, Larsucosterol, is an epigenetic modulator with FDA Breakthrough Therapy Designation Potential to be the first FDA-approved therapeutic option for the treatment of patients with alcoholic hepatitis Proposed acquisition strengthens Bausch Health's commitment to hepatology and patients suffering with liver disease complications globally LAVAL, QC and CUPERTINO, Calif., July 29, 2025 /PRNewswire/ -- Bausch Health Companies Inc. (NYSE: BHC) (TSX: BHC), a global, diversified pharmaceutical company, and DURECT Corporation (NASDAQ: DRRX) today announced a definitive agreement under which Bausch Health will indirectly acquire DURECT Corporation, including a novel therapeutic molecule, larsucosterol, which can harness the power of epigenetic modulation. Larsucosterol, an endogenous sulfated oxysterol and an epigenetic modulator, has demonstrated promising results for the treatment of alcoholic hepatitis (AH) in Phase 2 trials. Bausch Health's hepatology development and commercial capabilities are well-suited to support the clinical development and potential commercialization of larsucosterol. AH is a life-threatening form of alcohol-associated liver disease (ALD), which can occur in individuals who chronically misuse alcohol. It is characterized by severe inflammation and destruction of liver tissue (i.e., necrosis). AH accounted for roughly 164,000 hospital admissions in the U.S. in 2021. There is currently no Food and Drug Administration (FDA) or European Medicines Agency (EMA) approved treatment for AH, and novel therapeutic strategies are needed to improve patient survival. "This announcement is fundamental progress on our Strategic Priority - Innovation, which is to intensify focus and operating rigor behind R&D and business development and demonstrates our commitment to hepatology and finding new ways to address unmet medical needs, living our purpose of enriching lives through our relentless drive to deliver better health outcomes for patients." said Thomas J. Appio, Chief Executive Officer, Bausch Health. "There is a significant unmet need in the treatment of patients with AH given the high mortality rate and that there are no currently approved treatments. We are very excited to add larsucosterol, an asset which has FDA Breakthrough Therapy Designation, to our pipeline, particularly as it builds on our existing expertise within the hepatology space. It is complementary to our ongoing Phase 3 program of soluble solid dispersion of rifaximin (rifaximin SSD) being studied in cirrhotic patients globally," stated Jonathan Sadeh M.D., as Executive Vice President, Chief Medical Officer and Head of R&D at Bausch Health. "AH, by our estimates, is responsible for about 100 deaths per day in the US and billions of dollars in healthcare costs," stated James E. Brown, D.V.M., President and CEO of DURECT. "Since we reported results from our Phase 2b AHFIRM clinical trial for larsucosterol in AH, our primary focus has been advancing larsucosterol towards the completion of clinical development. We chose this transaction with Bausch Health because we believe it provides significant value for our stakeholders, both immediately and in the long term, should larsucosterol be approved and achieve commercial success. We view Bausch Health as the right partner to advance larsucosterol due to their expertise in hepatology, commercial success with Xifaxan and experienced development team. We look forward to the potential impact larsucosterol could have for patients with AH and the medical community that cares for them. Thank you to our team at DURECT and our partners that have helped advance larsucosterol to this point." A registrational Phase 3 program to evaluate the safety and efficacy of larsucosterol for the treatment of patients with severe AH is being planned. The trial will be a randomized, double-blind, placebo-controlled, multi-center study. The primary endpoint will be 90-day survival. The trial design will incorporate feedback received from the FDA during a Type B meeting under Breakthrough Therapy Designation as well as learnings from the prior Phase 2b AHFIRM trial in AH. The acquisition of the clinical development program for larsucosterol in AH compliments the ongoing Bausch Health RED-C clinical program which is designed to assess the efficacy of a next generation therapeutic, rifaximin SSD, to delay onset of first overt hepatic encephalopathy (OHE) hospitalization and all-cause mortality. There are no medications globally approved for the primary prophylaxis and delay in decompensation to first episode of OHE in cirrhosis. Patient enrollment in two global Phase 3, randomized, double-blind, placebo-controlled studies is now complete with efficacy and safety results expected to be announced in early 2026. "The addition of larsucosterol to our pipeline is a strategic fit with our focus in hepatology and underscores our continued dedication to exploring and identifying new treatments for individuals who are suffering with liver disease and its complications," stated Aimee Lenar, Executive Vice President of US Pharma at Bausch Health. "We are excited to continue investment in bringing these breakthrough options to market, not just in the US, but also globally." Transaction Terms and Financial Considerations Under the terms of the definitive agreement, a wholly owned subsidiary of Bausch Health will commence a tender offer for all outstanding shares of DURECT Corporation. Under the terms of the definitive agreement, Bausch Health will pay $1.75 per share in an all-cash transaction for an upfront consideration of approximately $63 million at closing, with the potential for two additional net sales milestone payments of up to $350 million in the aggregate (subject to certain adjustments in respect of a retention plan) if the milestone is achieved before the earlier of the 10 year anniversary of the first commercial sale in the United States and December 31, 2045. The purchase price payable at closing represents a premium of approximately 191% to the 30-day volume-weighted average trading price of DURECT's common stock ended on July 28, 2025, the last trading day before the announcement of the transaction. This upfront consideration represents a premium of approximately 217% to the trading price of DURECT's common stock ended on July 28, 2025. The transaction is conditioned on a majority of the outstanding shares of DURECT Corporation's common stock being tendered into the tender offer and not withdrawn, as well as other customary closing conditions. The transaction is expected to close in the third quarter of 2025. Assuming the closing of the tender offer, Bausch Health will acquire any shares of DURECT not tendered into the tender offer through a merger of a wholly owned subsidiary with and into DURECT for the same per share consideration payable in the tender offer. Advisors Centerview Partners LLC is serving as exclusive financial advisor and Sullivan & Cromwell LLP is serving as legal advisor to Bausch Health. Locust Walk is serving as exclusive financial advisor and Orrick, Herington and Sutcliffe LLP is serving as legal advisor to DURECT. About Bausch HealthBausch Health Companies Inc. (NYSE: BHC) (TSX: BHC), is a global, diversified pharmaceutical company enriching lives through our relentless drive to deliver better health care outcomes. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, dentistry, aesthetics, international pharmaceuticals and eye health, through our controlling interest in Bausch + Lomb Corporation. Our ambition is to be a globally integrated healthcare company, trusted and valued by patients, HCPs, employees and investors. Our gastroenterology business, Salix Pharmaceuticals, is one of the largest specialty pharmaceutical businesses in the world and has licensed, developed and marketed innovative products for the treatment of gastrointestinal diseases for more than 30 years. For more information about Salix, visit and connect with us on Twitter and LinkedIn. For more information about Bausch Health, visit and connect with us on LinkedIn. About DURECT CorporationDURECT Corporation (Nasdaq: DRRX) is a late-stage biopharmaceutical company pioneering the development of epigenetic therapies that target dysregulated DNA methylation to transform the treatment of serious and life-threatening conditions, including acute organ injury. Larsucosterol, DURECT's lead drug candidate, binds to and inhibits the activity of DNA methyltransferases, epigenetic enzymes that are elevated and associated with hypermethylation found in AH patients. Larsucosterol is in clinical development for the potential treatment of AH, for which the FDA has granted a Fast Track and a Breakthrough Therapy designation; MASH is also being explored. For more information about DURECT, please visit and follow us on X (formerly Twitter) at Forward Looking StatementsThis news release may contain forward-looking statements about the proposed transaction with DURECT (the "Transaction") and the future performance of Bausch Health (Bausch Health and DURECT, collectively, "the Parties"), which may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "subject to" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results are subject to other risks and uncertainties that relate more broadly to the Parties' overall businesses, including those more fully described in the Parties' most recent annual reports on Form 10-K and detailed from time to time in the Parties' other filings with the U.S. Securities and Exchange Commission and, in the case of Bausch Health, the Canadian Securities Administrators, which factors are incorporated herein by reference. In addition, such risks and uncertainties include, but are not limited to, the following: uncertainties relating to the timing of the consummation of the proposed Transaction; the possibility that any or all of the conditions to the consummation of the Transaction may not be satisfied or waived; the failure to obtain requisite stockholder approval of DURECT, the effect of the announcement or pendency of the Transaction on Parties' ability to maintain relationships with customers, suppliers, and other business partners; the impact of the Transaction if consummated on Bausch's business, financial position and results of operations, including with respect to expectations regarding margin expansion, accretion and deleveraging; and risks relating to potential diversion of management attention away from the Parties' ongoing business operations. There can be no assurance that the conditions to closing the Transaction will be satisfied or that the tender offer and the Transaction will be consummated. Additional information regarding certain of these material factors and assumptions may be found in the Parties' filings described above as well as the filings made in connection with the Transaction described below. These forward-looking statements speak only as of the date hereof. The Parties undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. Additional InformationThis news release is for information purposes only and not intended to be a recommendation to buy, sell or hold securities and does not constitute an offer for the sale of, or the solicitation of an offer to buy, securities in any jurisdiction, including the United States. At the time the tender offer is commenced, we will file, or will cause to be filed, tender offer materials on Schedule TO with the SEC and DURECT will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC, in each case with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT, AS THEY MAY BE AMENDED FROM TIME TO TIME, WILL CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY WHEN THEY BECOME AVAILABLE AND CONSIDERED BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER. Those materials and all other documents filed by, or caused to be filed by, BHC and DURECT with the SEC will be available at no charge on the SEC's website at The tender offer materials and related materials also may be obtained for free (when available) under the "Corporate Governance—SEC Filings" section of our investor website at and the Solicitation/Recommendation Statement and such other documents also may be obtained for free (when available) from DURECT under the "SEC Filings" section of DURECT's investor website at View original content to download multimedia: SOURCE DURECT Corporation 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
Yahoo
22-07-2025
- Business
- Yahoo
SANDRIDGE ENERGY, INC. ANNOUNCES APPOINTMENT OF BRETT ICAHN TO THE BOARD OF DIRECTORS
OKLAHOMA CITY, July 22, 2025 /PRNewswire/ -- SandRidge Energy, Inc. (the "Company" or "SandRidge") (NYSE: SD) today announced that Brett Icahn will become a director of the Company effective August 1, 2025, increasing the Board size to six members. SandRidge Energy, Inc. logo. (PRNewsFoto/SandRidge Energy, Inc.) Brett Icahn (age 45) is a respected American investor and portfolio manager, currently serving as a member of the board of Icahn Enterprises L.P. and a Portfolio Manager at Icahn Capital LP, a subsidiary of Icahn Enterprises. Icahn Enterprises is a diversified holding company engaged in a wide range of sectors, including investment, automotive, energy, food packaging, metals, real estate, and home fashion. Since October 2020, Mr. Icahn has played a leading role in managing the investment strategy for Icahn Capital. Prior to that, from 2017 to 2020, he served as a consultant to Icahn Enterprises, where he provided exclusive investment advice to Carl C. Icahn, focusing on capital allocation across the firm's operating subsidiaries and investment portfolio. In addition to the board of Icahn Enterprises L.P., Mr. Icahn currently serves on the board of Bausch Health Companies Inc. (since March 2021), and on the board of Bausch + Lomb Corporation (since June 2022). In the last five years, Mr. Icahn has previously served on the boards of Dana Inc. and Newell Brands Inc. Prior to then, Mr. Icahn has previously served on the boards of American Railcar Industries, Inc., Cadus Corporation, Nuance Communications, Inc., Take-Two Interactive Software Inc., The Hain Celestial Group, Inc., and Voltari Corporation (previously known as Motricity Inc.). Known for his analytical rigor and long-term investment perspective, Brett Icahn has played a key role in numerous high-profile investment decisions and activist campaigns. His career reflects a deep commitment to shareholder value and responsible corporate governance. Mr. Vince Intrieri, Chairman of the Board of SandRidge commented, "We are so pleased to welcome Brett Icahn to our Board of Directors. His appointment reflects the strong commitment of our major shareholders to the long-term success of our company. We look forward to benefiting from his insight and experience as we continue to execute our strategy and create value for all stakeholders." Mr. Brett Icahn commented, "I am very pleased to be joining the Board and excited to work alongside such a talented leadership team. I look forward to contributing meaningfully to the Company's continued growth and success, and to representing the interests of all shareholders as we pursue long-term value creation."
Globe and Mail
30-06-2025
- Business
- Globe and Mail
North American stock markets rise on trade talk hopes
Canada's main stock index edged higher on Monday, on track to log its second consecutive monthly gain, while investors assessed the revival of trade talks between Washington and Ottawa. At 11:09 a.m. ET, the S&P/TSX composite index was up 36.72 points, or 0.14 per cent, at 26,729.18, set to log its fourth straight quarter in green. President Donald Trump had called off the trade talks on Friday over Canada's digital services tax targeting U.S. technology firms, calling it a 'blatant attack.' Canada late on Sunday scrapped the tax, hours before it was set to take effect, in a bid to restart the negotiations. Prime Minister Mark Carney and Trump will resume trade negotiations to agree to a deal by July 21, the Canadian finance ministry said. 'The biggest challenge for the market is to understand how quickly things will whipsaw and maybe not react quite as strongly to each individual step because we still haven't negotiated a trade agreement and there still could be some more challenges there,' Verecan Capital Management CEO Colin White said. With Trump's July tariff deadline looming, investors will monitor signs of progress on the trade front. Healthcare stocks led gains on the TSX, rising 2 per cent. Bausch Health and Sienna Senior were up 4.4 per cent and 1.2 per cent, respectively. Communication stocks gained 0.9%. On the flip side, energy stocks led sectoral losses, dropping 0.6 per cent as oil prices steadied with Middle East risks easing and markets weighing on a possible OPEC+ output increase in August. Baytex Energy lost 1.8 per cent, International Petroleum was down 1.7 per cent. In individual stocks, MDA Space rose 3.2 per cent after the space firm announced a contract extension with the Canadian government providing continuous space-based maritime awareness and security. U.S. stocks are adding to their records on Monday as Wall Street nears the finish of a second straight winning month. The S&P 500 was 0.2 per cent higher in its first trading after completing a stunning rebound from its springtime sell-off of roughly 20 per cent. The Dow Jones Industrial Average was up 146 points, or 0.3 per cent, and the Nasdaq composite was 0.2% higher. Stocks got a boost after Canada said it's rescinding a planned tax on U.S. technology firms and resuming talks on trade with the United States. On Friday, Mr. Trump had said he was suspending talks with Canada because of his anger with the tax, which he called 'a direct and blatant attack on our country.' One of the main reasons U.S. stocks came back so quickly from their springtime swoon has been hope that Trump will reach deals with other countries to lower his stiff proposed tariffs. Otherwise, the fear is that trade wars could stifle the economy and send inflation higher. Many of Mr. Trump's announced tariffs are currently on pause, and they're scheduled to kick back into effect in a little more than a week. In an interview with Fox News Channel's 'Sunday Morning Futures,' Mr. Trump said his administration will notify countries that the trade penalties will take effect unless there are deals with the United States. Letters will start going out 'pretty soon' before the approaching deadline, he said. The U.S. stock market being back at a record high could actually raise the risk of renewed escalations on tariffs, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha. They point to the pattern in 2018 and 2019 of rallies for the market prompting escalations for tariffs, which then drove market pullbacks followed by relents on tariffs that then sparked rallies again. 'Despite the rhetoric to the contrary, this dynamic looks alive and well,' the strategists wrote in a report. 'In our view, beyond the market reaction, if negative impacts of tariffs on growth, earnings or inflation start to materialize, we will get further relents.' On Wall Street, GMS' stock jumped 11.8 per cent after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay US$110.00 per share in cash. That would give it a total value of roughly US$5.5-billion, including debt. Less than two weeks ago, another company, QXO, said it was offering to buy GMS for US$95.20 per share in cash. After the announcement of the Home Depot bid, QXO's stock rose 1.9 per cent, and Home Depot's stock slipped 0.5 per cent. Hewlett Packard Enterprise rallied 13.1 per cent and Juniper Networks climbed 8.4 per cent after saying they had reached an agreement with the U.S. Department of Justice that could clear the way for their merger go through, subject to court approval. HPE is trying to buy Juniper in a US$14-billion deal. In the bond market, Treasury yields eased a bit ahead of major economic reports later in the week. The highlight will be Thursday's jobs report. It's often the most anticipated economic data of each month, and it will come a day earlier than usual because of the Fourth of July holiday. The job market has remained relatively steady recently, even in the face of tariffs, but hiring has slowed. Economists expect Thursday's data to show another slowdown in overall hiring, down to 115,000 jobs in June from 139,000 in May. Such data has kept the Federal Reserve on hold this year when it comes to interest rates. Fed Chair Jerome Powell has said repeatedly that it's waiting for more data to show how tariffs will affect the economy and inflation before resuming its cuts to interest rates. That's because lower rates can fan inflation higher, along with giving the economy a boost. Mr. Trump, meanwhile, has been pushing for more cuts to rates and for them to happen soon. Two of his appointees to the Fed have said recently they could consider cutting rates as soon as the Fed's next meeting in less than a month. The yield on the 10-year Treasury slipped to 4.27 per cent from 4.29 per cent late Friday. In stock markets abroad, indexes dipped modestly in Europe following a more mixed finish in Asia. Stocks fell 0.9 per cent in Hong Kong but rose 0.6 per cent in Shanghai after China reported its factory activity improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others' exports, though manufacturing remained in contraction. Reuters and The Associated Pres
