Quick Summary
- Alnylam Pharmaceuticals soared 18.4% during premarket hours, topping Thursday’s gainers list
- AstraZeneca plummeted 9% following disappointing Phase 3 heart drug trial results
- Levi Strauss declined 6% even after exceeding Q2 revenue projections, warning of tariff challenges
- Ampco-Pittsburgh rallied 14% on strong first-half order growth of 32% to $268M
- S&P 500 futures inched higher by 0.10% as Bitcoin gained 0.65% to reach $62,627
Alnylam Pharmaceuticals dominated premarket trading Thursday, climbing 18.4%. BridgeBio Pharma similarly posted strong gains, advancing 14% in early-session activity.
Alnylam Pharmaceuticals, Inc., ALNY
Kulicke & Soffa Industries, Advanced Energy Industries, and Cerebras Systems all recorded advances exceeding 6%.
S&P 500 futures showed modest upward movement at 0.10%. Dow Jones futures declined 0.15%. The Cboe Volatility Index futures climbed 3.99%.
Bitcoin increased 0.65%, reaching $62,627. Gold futures advanced 0.77% while Brent crude gained 0.82%.
The 10-Year Treasury yield positioned at 4.593%. During Wednesday’s session, the S&P 500 declined 0.28% and the Dow lost 1.09%.
AstraZeneca Plunges Following Unsuccessful Heart Treatment Trial
AstraZeneca emerged as Thursday’s most significant decliner, falling 9%. The sharp decline followed news that its Phase 3 CARDIO-TTRansform study for Wainua missed its primary endpoint.
The clinical trial evaluated the drug’s effectiveness in treating patients with transthyretin-mediated amyloid cardiomyopathy. Results showed no significant reduction in cardiovascular mortality or recurring cardiovascular events versus placebo throughout the 140-week study period.
AstraZeneca collaborated with Ionis Pharmaceuticals on Wainua’s development. In response to the announcement, Ionis stock tumbled 17.8%.
Both pharmaceutical companies indicated they will perform additional data analysis. Complete trial findings are scheduled for presentation at the European Society of Cardiology Congress in August.
Levi Strauss Exceeds Forecasts But Issues Tariff Warning
Levi Strauss declined 6% notwithstanding quarterly revenue of $1.56 billion, representing 7.6% year-over-year growth. Adjusted earnings of $0.28 per share surpassed Wall Street expectations.
Direct-to-consumer revenue increased 11% and gross margin improved to 62.7%. The quarterly performance demonstrated strength across key metrics.
Nevertheless, market participants reacted negatively to the company’s conservative full-year forecast. Levi’s projected EPS midpoint of $1.49 fell short of the $1.51 analyst consensus.
The denim manufacturer’s outlook incorporates assumptions of 30% U.S. tariffs on Chinese-sourced products and 20% tariffs on merchandise from other nations continuing throughout the fiscal year.
Ampco-Pittsburgh Rallies on Robust Order Book
Ampco-Pittsburgh surged 14% following disclosure that first-half 2026 customer orders increased 32% year-over-year to $268 million.
Orders for forged and cast engineered products climbed 25% to $153 million. Air and liquid processing orders jumped 42% to $116 million.
The industrial equipment manufacturer also revealed that its Buffalo Air Handling division obtained the largest air handling equipment contract in company history.
MDA Space dropped 6% after announcing an approximately 70% stake purchase in France-based CLS for €567 million. The aerospace firm simultaneously initiated a C$712 million equity offering, which market participants interpreted as dilutive.
Overseas markets posted gains overnight, with Japan’s Nikkei 225 advancing 1.38% and China’s Shanghai Composite climbing 1.65%.
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