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Friday, December 5, 2025

'Boom in AI remains highly theoretical at Hewlett Packard Enterprise'

 


The American hardware maker published its annual results yesterday, which included its best revenue in ten years.

You must read between the lines. This record comes at a favorable point in the cycle, turbocharged by the AI boom, with serial renewals of aging equipment and a peak in investments in the data center sector.

It also largely stems from the acquisition of Juniper Networks - which, by the way, has not been without hiccups - signed in 2024 and closed this year.

With a constant perimeter, HPE still faces a serious growth problem. Without Juniper, in 2025 its revenue would have been identical to what was achieved ten years ago.

That, despite a global cycle that is broadly favorable, volatile but helped by the advent of the cloud, which has indeed modestly benefited equipment makers. See for example Dell's case, which is managing better than HPE, but which also faces - or faced? - a structural growth problem.

Juniper was acquired for $14bn, i.e., a multiple of almost 3x its revenue and 30x its EBITDA. Note that HPE is valued at around 1x its expected revenue next year, and less than 10x its EBITDA.

Obviously, investors are not convinced about the group's ability to break with a decade of stagnation, AI boom or not. Despite the perimeter change and the Juniper integration, HPE's management also projects a flat free cash flow for the coming year.

In this context, the group, which now carries a deteriorated balance sheet and net debt that amounts to nearly seven years of free cash flow, will likely not be able to raise capital distributions to shareholders.

https://www.marketscreener.com/news/boom-in-ai-remains-highly-theoretical-at-hewlett-packard-enterprise-ce7d51dcde80f22c

SpaceX Starts Secondary Share Sale Valuing It at $800 Billion

SpaceX is kicking off a secondary share sale that would value the rocket-maker at $800 billion, people familiar with the matter said, surpassing OpenAI to make it the most valuable U.S. private company.

The company’s Chief Financial Officer Bret Johnsen told investors about the sale in recent days, the people said.

The $800 billion valuation is double the $400 billion value it fetched in a recent secondary share sale.


Novartis raises guidance and target price after strong execution



Novartis has recently raised its financial outlook and seen analysts lift price targets due to strong performance, especially in oncology drugs like Kisqali and Scemblix, and robust pipeline progress, signaling confidence in sustained growth despite some market caution. Key upgrades include higher mid-term sales growth targets (around 5-6% CAGR for 2025-2030) and boosted peak sales forecasts for specific drugs, supported by strong execution and strategic acquisitions.

https://www.marketscreener.com/news/novartis-raises-medium-term-growth-ambitions-as-target-price-is-lifted-ce7d51dcd18df722

Stoke, Biogen tout disease-modifying potential of Dravet med

 —Long-term Phase 1/2a and open label extension (OLE) data for zorevunersen on top of standard of care anti-seizure medicines (ASMs) demonstrate durable seizure reductions, including increases in seizure-free days, in addition to improvements in cognition, behavior and quality of life—

—Propensity score weighted analysis comparing the effects of zorevunersen to natural history showed reductions in seizures and improvements in cognition and behavior with dose levels and timepoints similar to and consistent with the ongoing Phase 3 EMPEROR study—

—Analysis of electroencephalogram (EEG) supports a disease-modifying mechanism of action—

Long-term results from the ongoing Phase 1/2a and open label extension (OLE) studies demonstrated durable seizure reductions, including increases in seizure-free days, in addition to improvements in cognition, behavior and quality of life in patients treated with zorevunersen on top of standard of care anti-seizure medicines (ASMs). A new propensity score weighted analysis provides the first direct comparison between patients with Dravet syndrome treated with zorevunersen and a matched cohort from the BUTTERFLY natural history study and showed reductions in seizures and improvements in cognition and behavior with dose levels and timepoints similar to and consistent with the ongoing Phase 3 EMPEROR study.

https://finance.yahoo.com/news/biogen-stoke-therapeutics-present-data-140000976.html

'Vaccine makers raise concerns on US panel's shift from hepatitis B shots for newborns'

 


Vaccine makers expressed concern on Friday's decision by a U.S. advisory panel to scrap its long-standing recommendation that all infants receive a hepatitis B vaccine at birth, a shift that public health experts fear will undermine decades of public health advances.

Merck, whose Recombivax HB has been a staple of the U.S. childhood immunization program, said it was "deeply concerned" by the decision of the CDC's Advisory Committee on Immunization Practices (ACIP), warning it "puts infants at unnecessary risk of chronic infection, liver cancer and even death." 

The company said the universal birth dose, which was instituted in 1991, has driven a 99% drop in acute hepatitis B cases in children and young adults and argued there is no evidence that delaying it provides any benefit. Infectious disease experts, as well as organizations representing pediatricians, pharmacists and public health professionals decried the move.

Hepatitis B, which can spread from mother to child during birth, can cause severe liver disease and early death, and has no cure. According to the National Foundation for Infectious Diseases, the universal hepatitis B birth dose has prevented more than 500,000 childhood infections, cut infant cases by 95% and averted an estimated 90,100 deaths.

Many of the committee members, which were appointed by U.S. Health and Human Services Secretary Robert F. Kennedy Jr., a longtime vaccine skeptic, criticized the vaccine safety data and said that the U.S. vaccine schedule was out of step with other countries, particularly Denmark, that have low hepatitis B rates.

GSK said it stands behind the science supporting its vaccine and is awaiting the CDC's formal adoption of the recommendation to assess its impact.

Its vaccine, Engerix-B, has been approved since 1989, with 1.4 billion doses administered worldwide.

Merck and GSK shares fell about 1% each following the vote. U.S.-listed shares of Sanofi, another maker of hepatitis B shots, rose about 0.7%.

The panel now recommends only infants born to mothers who test positive for hepatitis B should receive the birth dose. Parents of infants whose mothers test negative are advised to decide, in consultation with a healthcare provider, when or whether to begin the vaccine series.

Merck urged the committee to return liaison organizations and frontline clinicians to its work groups, calling discussions led by medical and scientific experts "essential to informing sound, evidence-based recommendations that safeguard public health."

https://www.marketscreener.com/news/vaccine-makers-raise-concerns-over-us-panel-s-shift-away-from-hepatitis-b-shots-for-newborns-ce7d51dcd089f226

CDC vaccine panel endorses change to newborn hepatitis b vaccine schedule

 A key vaccine panel at the Centers for Disease Control and Prevention voted 8-3 to nix a recommendation that all newborns be given a first dose of hepatitis B vaccine.

The Friday vote, which came after the panel heard presentations from vaccine skeptics, does away with guidance that has been in place since 1991. Scientists have credited it with helping drive down rates of hepatitis B infection, which can lead to liver damage, cancer and death.

The Advisory Committee on Immunization Practices, or ACIP, recommended that if an infant’s mother tests negative for hepatitis B, parents should consult a doctor about whether the baby needs an early vaccine dose. ACIP also suggested that infants who skip the birth dose shouldn’t receive their first dose until they are at least two months of age.

The recommendation from the committee—which was remade by Health Secretary Robert F. Kennedy Jr. earlier this year after he pushed out all the previous members—must be endorsed by the acting CDC director before it goes into effect.

Proponents of the change argued that not enough is known about potential risks of the vaccine and that most babies aren’t likely to contract the virus. One panel member, Dr. Evelyn Griffin, said the vaccine could lead to autoimmune conditions, while acknowledging no high-quality studies had shown that.

“Patients are unaware that their babies are getting a lot of interventions in the first few hours of life,” said Griffin, an obstetrician who voted for the change. “Parental rights are violated.”

Critics of the committee’s move argued that the safety of the birth dose is backed by randomized, controlled studies and more than three decades of use, with the nation’s vaccine-safety surveillance systems finding no unusual harms.

Panel member Dr. Joseph Hibbeln, a psychiatrist, voted against the change, saying the committee hadn’t reviewed science on why the recommendation should be two months. “This is unconscionable,” he said. “No rational science or discussion has been presented.”

Public-health experts have warned against delaying the vaccine or only immunizing the babies of infected women at birth. They note that because the hepatitis B test is typically done in the first trimester, women can still become infected later in pregnancy or some might not get tested at all. They also say that, beyond maternal transmission, the virus is often spread through shared surfaces such as washcloths and toothbrushes.

“The birth dose is critical to preventing hepatitis B, which is the leading cause of liver cancer worldwide,” said Chari Cohen, president of the Hepatitis B Foundation. “It is not a virus you want your baby to have.”

The committee heard presentations Thursday from ACIP member Vicky Pebsworth, a board member at the National Vaccine Information Center, which advocates against vaccines; CDC contractor Cynthia Nevison, a climate researcher who has worked with the antivaccine group SafeMinds and written for Children’s Health Defense, the nonprofit founded by Kennedy that has questioned vaccines; and Mark Blaxill, a longtime antivaccine activist who now works at the CDC.

The newly appointed acting director of the drugs division at the Food and Drug Administration, Dr. Tracy Beth Hoeg, suggested to the panel that hepatitis B vaccines shouldn’t be given to children at all. She pointed to other countries including Denmark that don’t recommend the hepatitis B vaccine for all newborns. CDC scientist Adam Langer said many of those other countries including Denmark have national health systems, in which it is easier to screen and track infected mothers.

Blaxill argued that vaccine-injury claims paid out by the National Vaccine Injury Compensation Program showed that the hepatitis B vaccine causes harm. But the federal government has said that such settlements shouldn’t be used to draw conclusions about vaccine safety.

Dr. Jason Goldman, president of the American College of Physicians, who has been a liaison to ACIP for more than a decade, accused the committee’s leadership of “promoting an antivaccine agenda.”

“Stop cherry-picking the data by individuals who do not have the scientific evidence and data-driven background to make those presentations,” he said.

The panel voted on the hepatitis B recommendation Friday after delaying the vote initially scheduled for Thursday, in an effort to give panel members time to consider the exact language on which they were voting. The CDC waited until hours before the meeting began on Thursday to post the vote language—but then changed the wording again, causing confusion for panel members and giving outside groups little time to opine on the potential impacts.

The ACIP’s recommendations guide what vaccines are covered at no cost to patients by many insurers and federal health programs. Private insurers in some states may drop coverage for the birth dose for some babies, said vaccine attorney Richard Hughes. A Centers for Medicare and Medicaid Services representative said the birth dose would continue to be covered by federal insurance programs.

The committee also voted 6-4, with one abstention, to recommend that parents consider antibody testing for children after a dose of hepatitis B vaccine to determine whether the child needs further doses, and that insurers cover those tests. Hepatitis B vaccines are typically given as a series of three doses.

https://www.msn.com/en-us/health/other/cdc-panel-remade-by-rfk-jr-votes-to-alter-hepatitis-b-vaccine-guidance/ar-AA1RN7gR

Humana raised to Buy at Jefferies on Medicare Advantage diversification strategy

Jefferies upgrades Humana stock rating to Buy on improved Stars diversification. Investing.com - Jefferies upgraded Humana (NYSE:HUM) from Hold to Buy on Friday, while raising its price target to $313.00 from $253.00.