Abbvie Inc
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Health Care : Biotechnology | Large Cap Value
Company profile

AbbVie Inc. is a research-based biopharmaceutical company, which is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. It offers products in various therapeutic categories, including immunology products, which include Humira, Skyrizi and Rinvoq; oncology products, which include Imbruvica and Venclexta; aesthetics products that include Botox Cosmetic, Juvederm Collection and others; neuroscience products, such as Botox Therapeutic, Vraylar, Duopa and Duodopa, and Ubrelvy; eye care products consists of Lumigan, Alphagan and Restasis; women's health products include Lo Loestrin, Orilissa and others; and other products, which includes Mavyret, Creon, Lupron, Linzess and Synthroid. Its products are sold to wholesalers, government agencies, health care facilities and independent retailers. It also discovers and develop antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs).

Closing Price
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-1.12 (-0.76%)
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Cars and videogames: Nvidia rolls out $799 gaming card, partners with Foxconn on EVs

4:32 pm ET January 3, 2023 (MarketWatch)

By Wallace Witkowski

GeForce game service to be streamed to cars among announcements at CES 2023

Nvidia Corp. shares dragged on the broader chip sector on the first day of 2023 trading Tuesday as the chip maker rolled out a slew of announcements targeted at the videogame and auto markets.

Nvidia (NVDA) shares fell as much as 3.5%, and closed down 2.5% at $143.15. In comparison, the S&P 500 index finished down 0.4%, the tech-heavy Nasdaq Composite Index declined 0.8%, and the PHLX Semiconductor Index shed 1.2%.

The chip maker confirmed rumors from over the weekend and announced at CES 2023 the launch of its RTX 4070 Ti gaming chip at a manufacturer's suggested retail price of $799, following last year's CES announcement of the "big ferocious graphics processing unit" RTX 3090 Ti for $2,000, and was selling for half of that by September.

Read: 'Fundamental bottom' is coming for chips, and this stock could be the biggest winner, analyst says

The 4070 Ti delivers faster performance than the 3090 Ti for nearly half the power, Nvidia said. That follows a holiday shopping season that was the polar opposite of last year's when it was near impossible to find a top-end gaming card much less one remotely close to the MSRP. This past season, Nvidia launched its 40-series of cards, while both Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD) launched their new cards, and plenty of them were available just days before Christmas.

For instance, new cards from Nvidia went on sale Oct. 12, and the mid-tier $1,200-listed RTX 4080 cards, which had been released just before earnings, and sold out quickly

Read: Wall Street places more bets on chip sector's soft landing in 2023

Nvidia also announced it was partnering with Hon Hai Technology Group , or Foxconn, which is usually associated as the maker of Apple Inc.'s (AAPL) iPhone manufacturer, to make electronic control units based on Nvidia's Drive Orin system on a chip, and to make electric vehicles that use Drive chips and sensors.

And why not just put the two together? Nvidia also announced it was bringing its GeForce Now streaming games service to a host of new cars.

The company said that auto makers Hyundai Motor Group , BYD , and Swedish EV maker Polestar will be bringing GeForce Now to their onboard entertainment systems.

-Wallace Witkowski


(END) Dow Jones Newswires

January 03, 2023 16:32 ET (21:32 GMT)

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