Axsome Therapeutics, Inc., a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea. It is also developing AXS-05, which is in Phase III clinical trial to treat Alzheimer's disease agitation, as well as that has completed phase II clinical trial for the treatment of smoking cessation; AXS-07, an investigational medicine that has completed Phase III trials for the acute treatment of migraine; AXS-12, an investigational medicine, which is in Phase III trial to treat narcolepsy; AXS-14, a selective and potent norepinephrine reuptake inhibitor that has completed Phase III trial for the treatment of fibromyalgia and other conditions; and solriamfetol, a dual-acting dopamine and norepinephrine reuptake inhibitor, which has completed a Phase 2 trial for treating attention-deficit/hyperactivity disorder, and is in phase 2 major depressive, binge eating, and shift work disorder. Axsome Therapeutics, Inc. has a research collaboration agreement with Duke University for evaluating AXS-05 in smoking cessation. The company was incorporated in 2012 and is based in New York, New York.

Axsome Therapeutics, Inc.

In trading on Tuesday, shares of Axsome Therapeutics Inc (Symbol: AXSM) crossed below their 200 day moving average of $104.07, changing hands as low as $102.54 per share. Axsome Therapeutics Inc shares are currently trading down about 6.5% on the day. The chart below shows the one year performance of AXSM shares, versus its 200 day moving average:
Looking at the chart above, AXSM's low point in its 52 week range is $72.21 per share, with $139.1299 as the 52 week high point — that compares with a last trade of $102.55.
Also see:
Dividend Bargains You Can Buy Cheaper Than Insiders Did
CERT Split History
Funds Holding QCON
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Axsome Therapeutics Breaks Below 200-Day Moving Average - Notable for AXSM

In trading on Monday, shares of Axsome Therapeutics Inc (Symbol: AXSM) crossed below their 200 day moving average of $102.28, changing hands as low as $101.01 per share. Axsome Therapeutics Inc shares are currently trading down about 1.9% on the day. The chart below shows the one year performance of AXSM shares, versus its 200 day moving average:
Looking at the chart above, AXSM's low point in its 52 week range is $72.02 per share, with $139.1299 as the 52 week high point — that compares with a last trade of $101.44.
Click here to find out which 9 other stocks recently crossed below their 200 day moving average »
Also see:
ETFs Holding WSFS
CBRE Insider Buying
PSI Dividend History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

AXSM Makes Notable Cross Below Critical Moving Average

Written by Keith Speights, David Jagielski, Prosper Junior Bakiny for The Motley Fool->
Many investors love the "big mo." That's short for "big momentum." Stocks that are on a roll often keep the good times going.
Three Fool.com contributors think they've found high-flying biotech stocks that could soar even more. Here's why they picked Alnylam Pharmaceuticals (NASDAQ: ALNY), Axsome Therapeutics (NASDAQ: AXSM), and Summit Therapeutics (NASDAQ: SMMT).
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
Exciting times for this biotech innovator
Keith Speights (Alnylam Pharmaceuticals): In her comments during Alnylam Pharmaceuticals' first-quarter update, CEO Yvonne Greenstreet said, "2025 is off to a remarkable start." She was exactly right.
Alnylam's share price has jumped close to 23% year to date. The stock has almost doubled over the last 12 months. Alnylam reported 28% year-over-year revenue growth in Q1, driven largely by its U.S. transthyretin amyloidosis franchise.
On March 20, 2025, the U.S. Food and Drug Administration (FDA) approved Alnylam's Amvuttra in treating cardiomyopathy of wild-type or hereditary transthyretin-mediated amyloidosis (ATTR-CM). Only two days earlier, Sanofi won FDA approval of Qfitlia for treating hemophilia. Alnylam licensed the drug to Sanofi and stands to receive tiered royalties of 10% to 15% on all sales.
Amvuttra captured roughly 70% of new patient starts in Q1 despite only receiving a thumbs-up from the FDA late in the quarter. Alnylam expects the drug's U.S. momentum to build in the second half of 2025. It also hopes to win approvals in Japan in Q2 and in the European Union in Q3. Analysts think Amvuttra will become a huge blockbuster drug for Alnylam, with peak annual sales in the ballpark of $7.9 billion by 2035.
More good news could be on the way. Alnylam plans to announce results from a phase 2 study evaluating zilebesiran in treating hypertension later this year. The company hopes to advance the drug to phase 3 testing in the second half of 2025. It also intends to move nucresiran into late-stage testing as a treatment for ATTR-CM within the next month or so.
Wall Street is largely bullish about this stock, with 24 of the 33 analysts surveyed by LSEG rating it as a "buy" or a "strong buy." I agree with this optimism. Alnylam should have plenty of room to run.
There is plenty of upside left for this stock
Prosper Junior Bakiny (Axsome Therapeutics): Share prices of Axsome Therapeutics, a mid-cap biotech, are up by 234% in the past three years thanks to solid clinical and regulatory progress. Notably, the company earned FDA approval for Auvelity, a therapy for major depressive disorder, in 2022. Then there is Symbravo, a migraine treatment, that earned the nod in January.
Axsome Therapeutics' top line is growing rapidly, with Auvelity leading the charge. In the first quarter, the company's revenue came in at $121.5 million, up 62% year over year.
The good news is that there are more catalysts ahead that could jolt the stock price. Axsome Therapeutics has a large late-stage pipeline that should lead to more approvals and label expansions. For example, AXS-05, the generic name for Auvelity, aced late-stage clinical trials in treating Alzheimer's disease agitation. The company will soon seek approval for the medicine in this indication.
The company is also inching closer to a regulatory submission for AXS-12, an investigational medicine for cataplexy in narcolepsy patients. That only scratches the surface of Axsome Therapeutics' pipeline. The drugmaker should see over half a dozen late-stage clinical trial readouts, regulatory submissions, or approvals in the next two years.
And as the company makes progress, its financial results will improve. Axsome Therapeutics is slowly establishing itself as a notable player in the biotech industry. So, despite its shares crushing the market over the past three years, it's not too late to buy the stock.
This stock may not have reached its peak just yet
David Jagielski (Summit Therapeutics): After soaring a staggering 440% in the past 12 months, you might think that Summit Therapeutics stock might be running out of steam. But while its near-$18 billion valuation is high, especially for a company which doesn't even have an approved product yet, it's possible that it could still go higher.
Everything hinges on whether its cancer treatment, ivonescimab, is in fact the real deal or not. In a recent clinical trial, ivonescimab showed that it was able to reduce the risk of death or disease progression in patients with metastatic or locally advanced non-small cell lung cancer by 49%, when compared to Merck's top-selling cancer drug, Keytruda.
The problem, and what may be limiting the healthcare stock from even more gains right now, is that the study was based in China. For regulators in the U.S. to approve the drug, they'll likely want to see a more diverse study, which can confirm its effectiveness.
Summit is working on global trials involving ivonescimab, and if the data proves to be encouraging, then it might not be a surprise to see the stock surge even higher in value. Keytruda has generated tens of billions of dollars for Merck over the years, and if Summit is sitting on a potentially better drug than that, it's easy to see why investors may still have a lot of reasons to remain bullish.
Investors, however, should tread carefully because there is considerable risk with the stock, as the business isn't generating revenue and there's not much else to fall back on right now besides ivonescimab; if clinical trial results prove to be underwhelming from a wider and more diverse group of participants, then a significant sell-off could ensue.
Should you invest $1,000 in Alnylam Pharmaceuticals right now?
Before you buy stock in Alnylam Pharmaceuticals, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Alnylam Pharmaceuticals wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $640,662!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $814,127!*
Now, it’s worth noting Stock Advisor’s total average return is 963% — a market-crushing outperformance compared to 168% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of May 19, 2025
David Jagielski has no position in any of the stocks mentioned. Keith Speights has no position in any of the stocks mentioned. Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alnylam Pharmaceuticals, Axsome Therapeutics, Merck, and Summit Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 High-Flying Stocks That Could Soar Even More

(RTTNews) - Biopharmaceutical company Axsome Therapeutics, Inc. (AXSM) announced that it has entered into a $570 million term loan and revolving credit facility with funds managed by Blackstone Life Sciences and Blackstone Credit & Insurance (Blackstone). Concurrent with this new facility, Axsome has retired its previous term loan with Hercules Capital.
The company noted that the improved financial terms and expected use of the new facility are expected to result in a significant reduction in interest expense.
The new agreement with Blackstone simultaneously expands Axsome's total available credit facility by more than $200 million, and significantly reduces our cost of capital.
The new $570 million facility consists of a $500 million term loan facility and a $70 million revolving credit facility. Upon closing of the agreement, the Company drew down a total of $120 million from the term loan facility which was used to retire the previous term loan with Hercules Capital.
Under the terms of the new term loan facility, an additional $250 million may be drawn at the Companys option, with an additional $200 million available subject to the approval of Blackstone.
The new facility bears interest at a calculated SOFR variable rate plus 4.75% for the term loan, and SOFR variable rate plus 4.0% for the revolving credit facility. The facility matures in May 2030 and has an interest-only payment period of 60 months.
Concurrent with the closing of the agreement, Blackstone purchased $15 million of Axsome common stock at the 30-day volume weighted average price per share equal to $107.14.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Axsome Enters $570 Mln Term Loan And Revolving Credit Facility With Blackstone

Regardless of how stocks are performing right now, history tells us that the market tends to generate solid returns over long periods. Investors can do even better than the average market performance by buying shares of companies likely to beat broader equities.
Two excellent candidates are Vertex Pharmaceuticals (NASDAQ: VRTX) and Axsome Therapeutics (NASDAQ: AXSM). Here's what makes these stocks solid candidates to outperform the market in the next half-decade.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
1. Vertex Pharmaceuticals
Vertex Pharmaceuticals has made significant clinical progress recently. Over the past six months, it has earned approval for two new medicines. The first is Alyftrek, a next-gen medicine for cystic fibrosis (CF), the area Vertex has dominated for over a decade. The second is Journavx, an oral, non-opioid pain inhibitor -- the first of its kind. These new approvals help strengthen and diversify Vertex's product lineup.
The company still has room to grow in its core CF area; only about 75% of CF patients in its core geographies and 33% in other regions are currently benefiting from its medicines. Meanwhile, Journavx fills an unmet need: Opioid-based pain therapies can have significant adverse side effects. Vertex estimates a market of 80 million patients in acute pain. According to some projections, the medicine could generate $2.9 billion in revenue by 2030.
Revenue and earnings should continue growing at a good clip in the next five years, even before we account for Casgevy, a gene-editing medicine that earned approval in late 2023 and early 2024 for a pair of rare blood diseases. Administering gene-editing therapies is a complex and lengthy process, so Casgevy isn't yet contributing much to the top line. However, it boasts blockbuster potential and will eventually be a meaningful growth driver for the company.
Lastly, Vertex has an attractive pipeline. It's running clinical trials for brand-new products that could be breakthroughs. One is inaxaplin, a potential medicine for APOL1-mediated kidney disease. There are no drugs that address the underlying causes of this disease; Vertex aims to launch the first. And that's just the tip of the innovation iceberg with this biotech.
Its shares recently fell post-earnings due to several issues that hardly change its long-term prospects. Vertex Pharmaceuticals' solid business and more diversified lineup will allow it to bounce back, and still provide superior returns through 2030 and beyond.
2. Axsome Therapeutics
Axsome Therapeutics' top line is growing fast. Revenue in the first quarter was $121.5 million, 62% higher than the year-ago period. The company owes much of this performance to Auvelity, a medication for major depressive disorder (MDD) approved in 2022. The drug's sales should continue increasing at a good clip, but there's more for investors to look forward to. Auvelity, also known as AXS-05, recently completed a clinical trial in treating agitation associated with Alzheimer's disease (AD).
Axsome plans a regulatory submission in the third quarter. There are more than 4 million patients in the U.S. who suffer from AD agitation, but there's only one approved therapy. An approval here would significantly expand Auvelity's addressable market, and jolt its already impressive sales growth.
In January, Axsome earned approval for Symbravo, a migraine therapy that will be another growth driver for the company. And the biotech has several more brand-new approvals or label expansions on the way. Solriamfetol, a medicine it markets as Sunosi in treating narcolepsy, recently produced positive results in phase 3 studies for MDD and ADHD (attention-deficit/hyperactivity disorder). Another candidate, AXS-14, completed phase 3 studies last year and could soon reach the desk of regulators for approval in treating fibromyalgia.
Axsome Therapeutics' lineup will look much stronger within a few years. In the meantime, the biotech will continue to grow its revenue at a good clip. The stock has crushed the market so far this year. It may or may not maintain its momentum in the next few weeks, but it looks likely to perform well through the end of the decade.
Should you invest $1,000 in Vertex Pharmaceuticals right now?
Before you buy stock in Vertex Pharmaceuticals, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vertex Pharmaceuticals wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $714,958!*
Now, it’s worth noting Stock Advisor’s total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of May 5, 2025
Prosper Junior Bakiny has positions in Vertex Pharmaceuticals. The Motley Fool has positions in and recommends Axsome Therapeutics and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: These 2 Stocks Will Outperform the Market in the Next Five Years

Think of some of the biggest and most successful stocks on the market. Now, go back 20 or 30 years. Some of them didn't even exist that long ago. Others were only a fraction of their current size.
What if you could buy potential huge winners of the future while they have relatively small market caps? Three Motley Fool contributors believe you can. Here's why they think Axsome Therapeutics (NASDAQ: AXSM), Iovance Biotherapeutics (NASDAQ: IOVA), and Viking Therapeutics (NASDAQ: VKTX) are monster stocks in the making.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »
A growth stock that's already started to take off in 2025
David Jagielski (Axsome Therapeutics): One stock that's been picking up steam this year is Axsome Therapeutics. Entering trading this week, shares of the mid-cap biotech stock were up more than 35% since January. And there may be a bigger rally to come after the company recently reported strong earnings.
Through the first three months of the year, the company's revenue soared by 62% to $121.5 million. Leading the way was its potential blockbuster drug, Auvelity, which regulators approved in 2022 as a treatment for major depressive disorder. Revenue for Auvelity rose 80% in the most recent quarter, climbing to $96.2 million. Narcolepsy drug Sunosi also reported strong 17% growth as its sales totaled $25.2 million for the period.
And there's more growth ahead. Earlier this year, the company announced approval for its migraine treatment, Symbravo, which can enable people to recover from migraine pain within two hours. At its peak, analysts believe the drug could generate around $341 million in the U.S., by 2035.
Axsome is building up a promising portfolio of assets that could help drive up its value in the future. While it isn't profitable today, the company's net loss of $59.4 million this past quarter was an improvement from the $68.4 million loss it incurred a year ago. As the business continues to develop more drugs, scale its operations, and make progress toward breaking even, the stock could have a lot more upside.
Poised to change how solid tumors are treated
Keith Speights (Iovance Biotherapeutics): Several drugmakers have achieved success with chimeric antigen T-cell (CAR-T) therapies targeting blood cancers. But around 91% of cancers are solid tumors. One company is in the lead position to address those indications with a CAR-T-like approach: Iovance Biotherapeutics.
Iovance is pioneering tumor-infiltrating lymphocyte (TIL) therapies. The TIL process is similar to that of CAR-T therapies. A sample is collected from a patient's tumor. TILs are isolated and amplified in a specialized facility. They're then put back into the patient's body to target and kill cancer cells.
The company already has one TIL therapy on the market. The U.S. Food and Drug Administration (FDA) approved Amtagvi in February 2024 as a treatment for advanced melanoma. The drug's sales topped $164 million last year and are growing rapidly.
Melanoma should be only the tip of the iceberg for Iovance, though. The company is also evaluating Amtagvi in pivotal clinical studies targeting cervical cancer and non-small cell lung cancer. It's working with Merck to test the drug in combination with blockbuster immunotherapy Keytruda in treating multiple types of cancer. Iovance is conducting phase 2 clinical trials of Amtagvi targeting endometrial cancer and head and neck squamous cell carcinoma.
Amtagvi isn't Iovance's only promising pipeline program. The drugmaker has second- and third-generation TIL therapies in clinical development as well.
For now, Iovance is small with a market capitalization of around $600 million. The company disappointed investors with lower-than-expected first-quarter results, which stemmed from lower production capacity due to maintenance work at its cell therapy center. It is also unprofitable. However, I think those dynamics will likely change as Amtagvi gains market share and advances in clinical trials targeting other types of cancer.
A small player taking on giants
Prosper Junior Bakiny (Viking Therapeutics): The anti-obesity market is the hottest therapeutic area in the biopharma industry right now. Though the field is dominated by two of the largest drugmakers on the planet, Viking Therapeutics, a mid-cap biotech, hopes to make some noise. The company's leading candidate, VK2735, has delivered encouraging phase 2 results. It is working on starting phase 3 studies for this product.
Elsewhere, Viking Therapeutics is developing an oral version of its crown jewel, which is undergoing mid-stage studies. Current GLP-1 leaders and many in development are administered via subcutaneous injection once weekly. But an oral formulation would give patients more choices and attract a reasonable number.
Though Viking doesn't have a single drug on the market, its progress in the past year is exemplary and points to the company's strong innovative capabilities, especially when we look beyond its anti-obesity drugs. Viking aced phase 2 studies for VK2809, an investigational therapy for metabolic dysfunction-associated steatohepatitis (MASH). The company's VK0214, a potential treatment for a rare nervous system disease called X-linked adrenoleukodystrophy (X-ALD), is also making strides.
Despite showing strong promise, there are some risks involved with the stock, including the usual ones clinical-stage biotech companies have to deal with, such as potential clinical or regulatory setbacks. However, Viking Therapeutics could generate incredible returns provided it can deliver approvals across weight management, MASH, and X-ALD. Those who get in on the stock now could be glad they did so down the line.
Should you invest $1,000 in Axsome Therapeutics right now?
Before you buy stock in Axsome Therapeutics, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Axsome Therapeutics wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $614,911!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $714,958!*
Now, it’s worth noting Stock Advisor’s total average return is 907% — a market-crushing outperformance compared to 163% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of May 5, 2025
David Jagielski has no position in any of the stocks mentioned. Keith Speights has no position in any of the stocks mentioned. Prosper Junior Bakiny has positions in Viking Therapeutics. The Motley Fool has positions in and recommends Axsome Therapeutics, Iovance Biotherapeutics, and Merck. The Motley Fool recommends Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Monster Stocks in the Making

The S&P 500 Index ($SPX) (SPY) Monday closed down -0.64%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.67%. June E-mini S&P futures (ESM25) are down -0.66%, and June E-mini Nasdaq futures (NQM25) are down -0.71%.
Stock indexes closed lower Monday due to US trade uncertainty. President Trump said on Sunday that he had no plans to speak to Chinese President Xi Jinping, although Mr. Trump said there could be trade deals with some US trading partners as soon as this week. Stock indexes recovered from their worst levels on Monday after the US Apr ISM services index unexpectedly increased, which dampened concern that the economy might be sliding into recession.
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Energy producers sold off Monday, with the price of WTI crude down -2% at a 3-1/2 week low after OPEC+ on Saturday agreed to raise its crude production level by 411,000 bpd in June, threatening to add to a global crude oil glut. Saudi Arabia also signaled that further similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and punish overproducing OPEC+ members, such as Kazakhstan and Iraq.
The US Apr ISM services index unexpectedly rose +0.8 to 51.6, stronger than expectations of a decline to 50.2. Also, the Apr ISM services prices paid sub-index rose +4.2 to a 2-1/4 year high of 65.1, higher than expectations of 61.4.
This week, the market will focus on tariffs and any changes to US trade policy. On Tuesday, the March trade deficit is expected to widen to -$136.7 billion. On Wednesday, the FOMC is expected to keep its federal funds target range unchanged at 4.25%-4.50%. Post-FOMC comments on Wednesday from Fed Chair Powell will also be studied for any clues as to the future of Fed policy. Thursday brings weekly initial unemployment claims, Q1 nonfarm productivity (expected 0.7%), and Q1 unit labor costs (expected +5.2%).
The markets are discounting the chances at 2% for a -25 bp rate cut after the 2-day FOMC meeting that ends on Wednesday.
Q1 earnings reporting season remains in progress. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 365 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets on Monday settled lower. The Euro Stoxx 50 closed down -0.04%. China’s Shanghai Composite was closed for the Labor Day holiday. Japan’s Nikkei Stock 225 was closed for the Children’s Day holiday.
Interest Rates
June 10-year T-notes (ZNM25) Monday closed down -3 ticks. The 10-year T-note yield rose +3.0 bp to 4.338%. June T-notes fell to a 1-week low Monday, and the 10-year T-note yield rose to a 1-week high of 4.369%. T-note prices retreated Monday after the Apr ISM services index rose more than expected, and the Apr ISM service prices-paid sub-index jumped to a 2-1/4 year high, bolstering inflation concerns. T-notes were also pressured by caution ahead of Wednesday’s FOMC decision, where the FOMC appears unlikely to lay out a dovish tone. In addition, tepid demand for the Treasury’s $58 billion 3-year T-notes auction was bearish for T-notes price as the auction had a bid-to-cover ratio of 2.56, below the 10-auction average of 2.61.
T-notes had some support from safe-haven demand with Monday’s slump in stocks. T-notes also had carryover support from strength in 10-year German bunds.
European government bond yields on Monday moved lower. The 10-year German bund yield fell -1.6 bp to 2.517%. The 10-year UK gilt yield did not trade on Monday, with markets in the UK closed for the May Day holiday.
The Eurozone May Sentix investor confidence index rose +11.4 to -8.1, stronger than expectations of -11.5.
Swaps are discounting the chances at 97% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
Energy stocks and energy service providers were under pressure Monday, with the price of WTI crude down more than -2% at a 3-1/2 week low. As a result, Apa Corp (APA) closed down more than -5%, and Occidental Petroleum (OXY) closed down more than -4%. Also, ConocoPhillips (COP) and Haliburton (HAL) closed down more than -3%. In addition, Diamondback Energy (FANG), Exxon Mobil (XOM), Chevron (CVX), Schlumberger (SLB), and Devon Energy (DVN) closed down more than -2%.
Media stocks fell Monday after President Trump said he plans to impose a 100% tariff on films produced overseas. As a result, Netflix (NFLX), Paramount Global (PARA), and Warner Bros Discovery (WBD) closed down more than -1%.
Zimmer Biomet Holdings (ZBH) closed down more than -11% to lead losers in the S&P 500 after cutting its full-year adjusted diluted EPS estimate to $7.90-$8.10 from a previous estimate of $8.15-$8.35.
ON Semiconductor (ON) closed down more than -8% to lead losers in the Nasdaq 100 despite reporting better-than-expected Q1 revenue after forecasting Q2 adjusted gross margins of 36.5% to 38.5%, below the consensus of 39%.
Tyson Foods (TSN) closed down more than -7% after reporting Q2 sales of $13.07 billion, below the consensus of $13.12 billion.
Apple (AAPL) closed down more than -3% to lead losers in the Dow Jones Industrials as the company prices a 4-part debt offering today.
Berkshire Hathaway (BRK.B) closed down more than -5% after CEO Buffet announced that he would step down at the end of the year.
Gold Fields (GFI) closed up more than +7% to lead gold-mining stocks higher after gold prices jumped more than +2% on Monday. Also, AngloGold Ashanti Plc (AU) closed up more than +4%, and Newmont (NEM) closed up more than +2%.
Howard Hughes Holdings (HHH) closed up more than +3% after entering into an agreement where Pershing Square Capital will invest $900 million to acquire 9 million shares of the company.
Freshpet (FRPT) closed up more than +3% after reporting Q1 net sales of $263.2 million, above the consensus of $259.9 million.
Axsome Therapeutics (AXSM) closed up more than +3% after reporting Q1 cash and cash equivalents of $300.9 million, above the consensus of $255.5 million.
EQT Corp (EQT) closed up more than +2% after UBS upgraded the stock to buy from neutral with a price target of $64.
Henry Schein (HSIC) closed up more than +1% after reporting Q1 adjusted EPS of $1.15, better than the consensus of $1.11, and forecast full-year adjusted EPS of $4.80-$4.94, the midpoint above the consensus of $4.86.
Earnings Reports (5/6/2025)
Advanced Micro Devices Inc (AMD), American Electric Power Co Inc (AEP), Archer-Daniels-Midland Co (ADM), Arista Networks Inc (ANET), Assurant Inc (AIZ), Ball Corp (BALL), Constellation Energy Corp (CEG), Corpay Inc (CPAY), Devon Energy Corp (DVN), DoorDash Inc (DASH), Duke Energy Corp (DUK), Electronic Arts Inc (EA), Expeditors International of Washington (EXPD), Fidelity National Information (FIS), Gartner Inc (IT), Gen Digital Inc (GEN), Global Payments Inc (GPN), International Flavors & Fragrances (IFF), IQVIA Holdings Inc (IQV), Jack Henry & Associates Inc (JKHY), Jacobs Solutions Inc (J), Leidos Holdings Inc (LDOS), Marathon Petroleum Corp (MPC), Marriott International Inc/MD (MAR), Mosaic Co/The (MOS), Super Micro Computer Inc (SMCI), TransDigm Group Inc (TDG), Waters Corp (WAT), WEC Energy Group Inc (WEC), Wynn Resorts Ltd (WYNN), Zoetis Inc (ZTS).
On the date of publication, Rich Asplund 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. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Close Lower on US Trade Policy Uncertainty

The S&P 500 Index ($SPX) (SPY) today is down -0.37%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.47%. June E-mini S&P futures (ESM25) are down -0.36%, and June E-mini Nasdaq futures (NQM25) are down -0.46%.
Stock indexes today are trading lower, weighed down by US trade uncertainty. President Trump said on Sunday that he had no plans to speak to Chinese President Xi Jinping, although Mr. Trump said there could be trade deals with some US trading partners as soon as this week. Stock indexes recovered from their worst levels today after the US Apr ISM services index unexpectedly increased, which was a sign of strength in the economy.
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Energy producers are sliding today, with the price of WTI crude down more than -2% at a 3-1/2 week low after OPEC+ on Saturday agreed to raise its crude production level by 411,000 bpd in June, threatening to add to a global crude oil glut. Saudi Arabia also signaled that further similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and punish overproducing OPEC+ members, such as Kazakhstan and Iraq.
The US Apr ISM services index unexpectedly rose +0.8 to 51.6, stronger than expectations of a decline to 50.2. Also, the Apr ISM services prices paid sub-index rose +4.2 to a 2-1/4 year high of 65.1, higher than expectations of 61.4.
This week, the market will focus on tariffs and any changes to US trade policy. On Tuesday, the Mar trade deficit is expected to widen to -$136.7 billion. On Wednesday, the FOMC is expected to keep its federal funds target range unchanged at 4.25%-4.50%. Post-FOMC comments on Wednesday from Fed Chair Powell will also be studied for any clues as to the future of Fed policy. Thursday brings weekly initial unemployment claims, Q1 nonfarm productivity (expected 0.7%), and Q1 unit labor costs (expected +5.2%).
The markets are discounting the chances at 2% for a -25 bp rate cut after the 2-day FOMC meeting on Wednesday.
Q1 earnings reporting season is in full swing. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 332 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.05%. China’s Shanghai Composite is closed for the Labor Day holiday. Japan’s Nikkei Stock 225 is closed for the Children’s Day holiday.
Interest Rates
June 10-year T-notes (ZNM25) today are down -5 ticks. The 10-year T-note yield is up +2.7 bp to 4.336%. June T-notes tumbled to a 1-week low today, and the 10-year T-note yield rose to a 1-week high of 4.355%. T-note prices dropped today after the Apr ISM services index rose more than expected, and the Apr ISM service prices-paid sub-index jumped to a 2-1/4 year high, bolstering inflation concerns. T-notes are also being pressured by caution ahead of Wednesday’s FOMC decision, where the FOMC appears unlikely to lay out a dovish tone. In addition, supply pressures are negative for T-notes as the Treasury’s quarterly refunding begins today with a $58 billion auction of 3-year T-notes as part of the week’s $125 billion auction package of T-note sand T-bonds.
T-notes have support from some safe-haven demand with today’s slump in stocks. T-notes also have carryover support from strength in 10-year German bunds.
European government bond yields today are moving lower. The 10-year German bund yield is down -0.7 bp to 2.526%. The 10-year UK gilt yield is not trading today, with markets in the UK closed for the May Day holiday.
The Eurozone May Sentix investor confidence index rose +11.4 to -8.1, stronger than expectations of -11.5.
Swaps are discounting the chances at 97% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
Energy stocks and energy service providers are under pressure today, with the price of WTI crude down more than -2% at a 3-1/2 week low. As a result, Apa Corp (APA) and Occidental Petroleum (OXY) are down more than -3%. Also, ConocoPhillips (COP), Diamondback Energy (FANG), Exxon Mobil (XOM), and Haliburton (HAL) are down more than -2%. In addition, Baker Hughes (BKR), Chevron (CVX), Schlumberger (SLB), and Devon Energy (DVN) are down more than -1%.
Media stocks are falling today after President Trump said he plans to impose a 100% tariff on films produced overseas. As a result, Netflix (NFLX) and Paramount Global (PARA) are down more than -1%. Also, Warner Bros Discovery (WBD) is down -0.70%, and Disney (DIS) is down -0.28%.
Tyson Foods (TSN) is down more than -10% to lead losers in the S&P 500 after reporting Q2 sales of $13.07 billion, below the consensus of $13.12 billion.
ON Semiconductor (ON) is down more than -7% to lead losers in the Nasdaq 100 despite reporting better-than-expected Q1 revenue after forecasting Q2 adjusted gross margins of 36.5% to 38.5%, below the consensus of 39%.
Zimmer Biomet Holdings (ZBH) is down more than -9% after cutting its full-year adjusted diluted EPS estimate to $7.90-$8.10 from a previous estimate of $8.15-$8.35.
Apple (AAPL) is down more than -3% to lead losers in the Dow Jones Industrials as the company prices a 4-part debt offering today.
Berkshire Hathaway (BRK.B) is down more than -4% after CEO Buffet announced that he would step down at the end of the year.
EQT Corp (EQT) is up more than +3% to lead gainers in the S&P 500 after UBA upgraded the stock to buy from neutral with a price target of $64.
Howard Hughes Holdings (HHH) is up more than +4% after entering into an agreement where Pershing Square Capital will invest $900 million to acquire 9 million shares of the company.
Freshpet (FRPT) is up more than +3% after reporting Q1 net sales of $263.2 million, above the consensus of $259.9 million.
Axsome Therapeutics (AXSM) is up more than +5% after reporting Q1 cash and cash equivalents of $300.9 million, above the consensus of $255.5 million.
Wendy’s (WEN) is up more than +2% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $15.
Earnings Reports (5/5/2025)
Clorox Co/The (CLX), Coterra Energy Inc (CTRA), Cummins Inc (CMI), Diamondback Energy Inc (FANG), Ford Motor Co (F), Henry Schein Inc (HSIC), Loews Corp (L), ON Semiconductor Corp (ON), Palantir Technologies Inc (PLTR), Realty Income Corp (O), Tyson Foods Inc (TSN), Vertex Pharmaceuticals Inc (VRTX), Williams Cos Inc/The (WMB), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund 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. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Trade War Risks Weigh on Stocks

The S&P 500 Index ($SPX) (SPY) today is down -0.82%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.49%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.81%. June E-mini S&P futures (ESM25) are down -0.88%, and June E-mini Nasdaq futures (NQM25) are down -0.87%.
Stock indexes today are trading lower, weighed down by US trade uncertainty. President Trump said on Sunday that he had no plans to speak to Chinese President Xi Jinping, although Mr. Trump said there could be trade deals with some US trading partners as soon as this week.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Energy producers are sliding today, with the price of WTI crude down more than -1% at a 3-1/2 week low after OPEC+ on Saturday agreed to raise its crude production level by 411,000 bpd in June, threatening to add to a global crude oil glut. Saudi Arabia also signaled that further similar-sized increases in crude output could follow, which is viewed as a strategy to reduce oil prices and punish overproducing OPEC+ members, such as Kazakhstan and Iraq.
This week, the market will focus on tariffs and any changes to US trade policy. Later today, the Apr ISM services index is expected to fall -0.5 to 50.3. On Tuesday, the Mar trade deficit is expected to widen to -$136.7 billion. On Wednesday, the FOMC is expected to keep its federal funds target range unchanged at 4.25%-4.50%. Post-FOMC comments from Fed Chair Powell will be also studied for any clues as to the future of Fed policy. Thursday brings weekly initial unemployment claims, Q1 nonfarm productivity (expected 0.7%), and Q1 unit labor costs (expected +5.2%).
The markets are discounting the chances at 2% for a -25 bp rate cut after the 2-day FOMC meeting on Wednesday.
Q1 earnings reporting season is in full swing. According to data compiled by Bloomberg Intelligence, the market consensus is for Q1 year-over-year earnings growth of +6.7% for the S&P 500 stocks, down from expectations of +11.1% in early November. So far, of the 332 companies in the S&P 500 companies that have reported quarterly results, 78% have beaten estimates. Full-year 2025 corporate profits for the S&P 500 are seen rising +9.4%, down from the forecast of +12.5% in early January.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.25%. China’s Shanghai Composite is closed for the Labor Day holiday. Japan’s Nikkei Stock 225 is closed for the Children’s Day holiday.
Interest Rates
June 10-year T-notes (ZNM25) today are up +1 tick. The 10-year T-note yield is up +1.8 bp to 4.326%. June T-notes are little changed and the 10-year T-note yield rose to a 1-week high of 4.334%. T-note prices are being pressured by caution ahead of Wednesday’s FOMC decision where the FOMC appears unlikely to lay out a dovish tone. Also, supply pressures are negative for T-notes as the Treasury’s quarterly refunding begins today with a $58 billion auction of 3-year T-notes as part of the week’s $125 billion auction package of T-note sand T-bonds.
T-notes have support from some safe-haven demand, with today’s slump in stocks. T-notes also have carryover support from strength in 10-year German bunds.
European government bond yields today are moving lower. The 10-year German bund yield is down -1.2 bp to 2.521%. The 10-year UK gilt yield is not trading today, with markets in the UK closed for the May Day holiday.
The Eurozone May Sentix investor confidence index rose +11.4 to -8.1, stronger than expectations of -11.5.
Swaps are discounting the chances at 97% for a -25 bp rate cut by the ECB at the June 5 policy meeting.
US Stock Movers
The Magnificent Seven stocks are under pressure today, weighing on the overall market. Tesla (TSLA), Amazon.com (AMZN), and Apple (AAPL) are down more than -2%. Also, Nvidia (NVDA) is down -0.46%, and Meta Platforms (META) is down -0.18%.
Energy stocks and energy service providers are under pressure today, with the price of WTI crude down more than -1% at a 3-1/2 week low. As a result, Apa Corp (APA) and Occidental Petroleum (OXY) are down more than -3%. Also, Baker Hughes (BKR), ConocoPhillips (COP), Diamondback Energy (FANG), Devon Energy (DVN), Chevron (CVX), and Exxon Mobil (XOM) are down more than -2%. In addition, Haliburton (HAL) and Schlumberger (SLB) are down more than -1%.
Media stocks are falling today after President Trump said he plans to impose a 100% tariff on films produced overseas. As a result, Warner Bros Discovery (WBD) and Netflix (NFLX) are down more than -2%. Also, Disney (DIS) and Paramount Global (PARA) are down more than -1%.
ON Semiconductor (ON) is down more than -9% to lead losers in the S&P 500 and Nasdaq 100 despite reporting better-than-expected Q1 revenue after and forecasting Q2 adjusted gross margins of 36.5% to 38.5%, below the consensus of 39%.
Zimmer Biomet Holdings (ZBH) is down more than -8% after cutting its full-year adjusted diluted EPS estimate to $7.90-$8.10 from a previous estimate of $8.15-$8.35.
Tyson Foods (TSN) is down more than -6% after reporting Q2 sales of $13.07 billion, below the consensus of $13.12 billion.
Berkshire Hathaway (BRK.B) is down more than -5% after CEO Buffet announced that he will step down at the end of the year.
CNA Financial (CNA) is down more than -1% after reporting Q1 core EPS of $1.03, weaker than the consensus of $1.16.
Howard Hughes Holdings (HHH) is up more than +4% after entering into an agreement where Pershing Square Capital will invest $900 million to acquire 9 million shares of the company.
Freshpet (FRPT) is up more than +2% after reporting Q1 net sales of $263.2 million, above the consensus of $259.9 million.
Axsome Therapeutics (AXSM) is up more than +2% after reporting Q1 cash and cash equivalents of $300.9 million, above the consensus of $255.5 million.
Wendy’s (WEN) is up more than +1% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $15.
Earnings Reports (5/5/2025)
Clorox Co/The (CLX), Coterra Energy Inc (CTRA), Cummins Inc (CMI), Diamondback Energy Inc (FANG), Ford Motor Co (F), Henry Schein Inc (HSIC), Loews Corp (L), ON Semiconductor Corp (ON), Palantir Technologies Inc (PLTR), Realty Income Corp (O), Tyson Foods Inc (TSN), Vertex Pharmaceuticals Inc (VRTX), Williams Cos Inc/The (WMB), Zimmer Biomet Holdings Inc (ZBH).
On the date of publication, Rich Asplund 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. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slide on US Trade Uncertainty

(RTTNews) - Axsome Therapeutics, Inc. (AXSM) released Loss for first quarter that decreased from the same period last year and beat the Street estimates.
The company's bottom line totaled -$59.413 million, or -$1.22 per share. This compares with -$68.357 million, or -$1.44 per share, last year.
Analysts on average had expected the company to earn -$1.35 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 59.8% to $121.463 million from $75.999 million last year.
Axsome Therapeutics, Inc. earnings at a glance (GAAP) :
-Earnings: -$59.413 Mln. vs. -$68.357 Mln. last year. -EPS: -$1.22 vs. -$1.44 last year. -Revenue: $121.463 Mln vs. $75.999 Mln last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Axsome Therapeutics, Inc.

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