3M Drops, Strategy Falls, ImmunityBio Drops After FDA Meeting Update
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Show Notes
On this episode of Stock Movers:
- 3M (MMM) drops after the company said its' profit outlook fell narrowly short of Wall Street’s expectations for this year. Adjusted earnings will be $8.50 to $8.70 a share in 2026, the manufacturer said Tuesday in a statement. The midpoint was slightly below the $8.64 average of analyst estimates compiled by Bloomberg. Adjusted sales will climb about 4%, the company said.
- Strategy (MSTR) shares fall after the company acquired almost $2.13 billion in Bitcoin over the previous eight days, marking the digital asset treasury company’s largest purchase of the original cryptocurrency since July.
- ImmunityBio (IBRX) shares rise after the drug developer said it held a Type B End-of-Phase meeting with the US FDA regarding its supplemental application for its drug to treat bladder cancer. The FDA recommended that the company provide additional information to support a potential resubmission of the supplemental Biologics License Application (sBLA) for Anktiva in combination with Bacillus Calmette-Guérin (BCG.)
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