Investing

Shares of Summit Therapeutics, whose cancer drug candidate turned heads after it outperformed a blockbuster drug from Merck, have been on fire. Now both of its co-CEOs are billionaires.

One analyst said the “highly anticipated leadership change will inject a much-needed sense of urgency” to Nike, whose share price remains down 50% from its 2021 peak.

While generative AI is still a relatively new technology, 2024 is emerging as a defining year as users explore powerful ways to apply it in their workday.

A rally from the “magnificent seven” tech stocks perhaps predictably fueled the rally, but this surprise name was the S&P 500’s biggest gainer Thursday.

The Tesla CEO wrote in a since-deleted post that “no one is even trying to assassinate” Biden or Harris.

Melbourne co-founders Phoebe Simmonds and Kate Casey started The Memo as an e-commerce store in 2019 with a mission to disrupt the parenting category. Three (soon-to-be four) retail locations later, the pair report 45% year-to-date sales growth – with expansion plans on the horizon.

Knight Frank’s chief economist says there is opportunity for those who can ‘value engineer’ construction constraints. He also sees prospects in build-to-sell, build-to-rent, and Brisbane.

The Meta-owned company has faced accusations of failing to protect children on the social media platform.

One analyst estimated iPhone preorders fell 13% annually during the first weekend of preorders.

James Callinan’s Osterweis Opportunity Fund has trounced its Russell 2000 benchmark by applying specific P/E limits for buying–and holding–small cap growth stocks.