Key facts
- Amgen reported a 9% increase in second-quarter sales to $10.1 billion.
- Gilead Sciences reported an 8% sales rise to $7.8 billion in the second quarter.
- Eli Lilly and Co. raised its full-year revenue forecast to between $85 billion and $87 billion.
- Kraft Heinz lowered its annual sales and profit forecasts.
- Kraft Heinz expects 2025 organic net sales to decline between 3% and 3.5%.
- Wynn Resorts announced its first UAE casino resort is slated to open in September 2027.
- Thomson Reuters reported a 9% rise in second-quarter revenue to $1.95 billion.
- Thomson Reuters raised its full-year organic revenue forecast to around 8%.
- CVS Health shares fell nearly 6% after its earnings report.
- CVS Health set its 2027 earnings per share at least at $8.44.
Amgen reported a 9% increase in second-quarter sales, reaching $10.1 billion, with demand for its cholesterol and bone drugs driving the growth. Similarly, Gilead Sciences experienced an 8% rise in sales to $7.8 billion, primarily due to its HIV medications. Both pharmaceutical companies surpassed analyst expectations for the quarter. Eli Lilly and Co. has revised its full-year revenue forecast upwards to a range of $85 billion to $87 billion, attributing this to the ongoing strong demand for its weight-loss drug Zepbound and diabetes drug Mounjaro. This upward revision follows a similar adjustment by competitor Novo Nordisk.
Wynn Resorts exceeded Wall Street's expectations for both second-quarter profit and revenue, largely propelled by the strong performance of its operations in Macau. The company also provided an update on its international expansion, announcing that its first casino resort in the United Arab Emirates is scheduled to open in September 2027. Prudential Financial announced an increase in its second-quarter profit, which was bolstered by significant gains from its global investment management arm, PGIM, and its individual life insurance business. The company also reported growth in its assets under management.
Thomson Reuters reported a 9% increase in second-quarter revenue, amounting to $1.95 billion, which exceeded market estimates. Consequently, the company has raised its full-year organic revenue forecast to approximately 8%. This positive outlook is supported by growth in its legal, corporates, and tax and accounting segments, and the company is also making investments in artificial intelligence. In contrast, Kraft Heinz has lowered its annual sales and profit forecasts, citing persistent weakness in consumer demand and challenging operating conditions. The company now anticipates a decline in 2025 organic net sales ranging from 3% to 3.5%.
CVS Health reported second-quarter results that surpassed expectations, but its updated profit outlooks for 2026 and 2027 disappointed investors, leading to a nearly 6% drop in its shares. The company did increase its 2026 earnings forecast and established a minimum earnings per share target of $8.44 for 2027.