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Quick Summary Earnings beats and upgrades are driving sharp upside gaps Weak guidance and regulatory risk are triggering heavy sell-offs Tech, healthcare and AI-linked names dominate volatility Gapping Up  Quince Therapeutics +81.7% Appointed LifeSci Capital to explore  strategic alternatives and restructuring Credo Technology +14.5% Issued  preliminary Q3 revenue well above guidance Ferrari +10.8% Q4 earnings beat  and order book now stretches to  end-2027 Entegris +9.5% Beat Q4 results and  guided Q1 above consensus Spotify Technology +8.5% Earnings beat , strong premium subscriber growth, and  margin improvement Datadog +7.0% Q4 beat and  Q1 revenue guidance topped estimates Oscar Health +6.6% Issued  strong FY26 revenue and operating earnings outlook Vistra Energy +4.2% Upgraded to  Buy  by Jefferies Unity Software +3.6% Oppenheimer upgrade to  Outperform Astera Labs +3.5% Ahead of earnings and announced  new AI design...

IHH Seen as Sector Leader CIMB Securities has reaffirmed  IHH Healthcare Bhd (KL:IHH)  as its top choice in the healthcare sector, citing the group’s diversified international operations as a key strength against Malaysia’s regulatory headwinds. In a note on Friday, the research house highlighted IHH’s  attractive valuation , resilient earnings profile, and strong recovery prospects, particularly in Singapore. The division is expected to deliver a meaningful rebound in  4Q2025 , following the completion of renovation works at Mount Elizabeth by the third quarter. “We like IHH for its execution strategy, established regional footprint, and focus on high-income clients, which collectively support earnings resilience,” CIMB said. Regulatory Pressures in Malaysia Malaysia’s private healthcare sector has faced  margin pressure in 1H2025 , driven by tighter insurer reimbursement terms. Inpatient visit growth contracted to low single digits, with CIMB expecting payor p...

Positive fundamentals, easing bets, and innovation trends drive investor interest China’s healthcare sector is regaining investor attention, buoyed by  improving liquidity ,  stronger fundamentals , and a favorable macro backdrop. Analysts remain optimistic, citing  a potential earnings beat in 3Q25  and a sustained recovery in  in-hospital prescription volumes . Macro Tailwinds: Policy & Liquidity Shifts Support Upside Weaker US jobs data  has raised expectations for global monetary easing in 2H25, offering further support for defensive growth sectors like healthcare. US drug pricing concerns , including the potential return of the  Most Favored Nation policy , and  centralized biosimilar procurement in Anhui , are viewed as manageable, with limited near-term sector impact. Uncertainty surrounding  US Treasury markets  may trigger a shift in global capital flows toward  healthcare equities , especially those linked to innovatio...

When former President Donald Trump threatened a  200% tariff on imported pharmaceuticals , the natural expectation was a sell-off in healthcare stocks. Instead? The  NYSE Arca Pharmaceutical Index rose 1% over the past week , outperforming the S&P 500. Why?  Investors are betting the blow will be delayed, softened — or sidestepped entirely.  Trump’s Tariff Threat — But with a Long Runway Trump proposed a  1 to 1.5-year grace period , which could effectively push implementation out to  2027 , with companies possibly stockpiling enough to delay impact until  2028 . According to Jefferies: “If firms stockpile effectively, the earnings hit could be milder than expected — even better than past projections for a 25% tariff.” Pharma Already Taking Action Two key moves are underway: Stockpiling : Hormone treatment imports from Ireland more than  doubled YoY  (US$36 billion YTD). U.S. Manufacturing Shift : Eli Lilly : Announced a  US$27B inve...

  Market Movers Verona Pharma ($VRNA) :  +20% after Merck announced a ~US$10B acquisition Merck ($MRK) : Edged higher as investors welcomed strategic move ahead of  Keytruda’s 2028 patent cliff Why it matters: Merck strengthens its pipeline with  Ohtuvayre , a treatment for COPD (Chronic Obstructive Pulmonary Disease), aiming to cushion future revenue shocks. Meanwhile in the sector… UnitedHealth ($UNH)  faces a criminal probe over alleged Medicare billing practices. DOJ is investigating use of clinicians to gather revenue-boosting diagnoses. Measles alert : U.S. reports its  highest case count since 1992 , with over six months still to go, per CDC data. Health care remains volatile but full of opportunity — with deal flows and regulatory headlines shaping sentiment.