Benzinga Market Summary: Chip Stocks Fall On Fears Over China Restrictions And Soft Guidance From ASML, Roche Reports Weight Loss Data, Dragging Down Lilly And Novo Nordisk
Portfolio Pulse from Benzinga Newsdesk
Chip stocks fell due to concerns over potential China restrictions and weak guidance from ASML. Roche reported weight loss data, negatively impacting Eli Lilly and Novo Nordisk.
July 17, 2024 | 1:33 pm
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NEGATIVE IMPACT
ASML's weak guidance has contributed to a decline in chip stocks.
ASML's guidance is a key indicator for the semiconductor industry. Weak guidance suggests potential challenges ahead, leading to a negative impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Roche's weight loss data has negatively impacted Eli Lilly's stock.
Roche's weight loss data may pose competitive challenges for Eli Lilly, leading to a negative impact on its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Novo Nordisk's stock is down due to Roche's weight loss data.
Similar to Eli Lilly, Novo Nordisk may face increased competition from Roche's weight loss data, negatively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The semiconductor ETF SMH is affected by fears over China restrictions and ASML's weak guidance.
SMH, which tracks semiconductor stocks, is impacted by broader industry concerns including potential China restrictions and weak guidance from ASML.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60