Abbott Labs, Arm, Viking Therapeutics: Top Stocks
Abbott Labs (ABT) shares are rising after topping third-quarter estimates, citing strengthened demand for its diabetes care products amid the weight loss drug craze. KeyBanc analysts initiated coverage of chipmaker Arm Holdings (ARM) starting at an "Overweight" rating. Lastly, Viking Therapeutics (VKTX) seeks to enter the growing weight-loss space as its new drug enters into the early stages of a clinical trial.
Yahoo Finance Live takes a closer look at several of Wednesday morning's top trending stocks.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
SEANA SMITH: Welcome back to Yahoo Finance Live. I'm Seana Smith, alongside Brad Smith. We're coming to you live from the NASDAQ in New York City, just about 30 minutes into the trading day. And let's take a look at how things are shaping up.
Some broader pressure across the sectors today, but Abbott Labs-- the shares are on the move. They're actually moving to the upside. Now the health care company reporting its Q3 earnings today, tightening its forecast for the rest of the year. Abbott beating estimates for its third quarter. Now, it's citing strong demand for its diabetes care products.
BRAD SMITH: Now, looking at ARM shares KeyBank rating the company as overweight with a $65 price target. The firm saying that ARM will benefit from technology, becoming more demanding and complex, and the industry will rely on their processor designs. This comes after the US tightened chip exports to China in an effort to control the country's AI progress.
SEANA SMITH: All right. Viking therapeutics stock lower this morning. The drug developer, throwing its hat into the weight loss drug ring in early stage clinical study of a drug showing promise in weight loss and reducing liver fat levels. So you're seeing still though pressure, off just about 1 and 1/2%.