Organon & Co
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Health Care : Pharmaceuticals | Small Cap Value
Company profile

Organon & Co. (Organon) is a global healthcare company. The Company is engaged in developing and delivering health solutions through a portfolio of prescription therapies and medical devices within women's health, biosimilars and established brands (Organon Products). Organon has a portfolio of contraception and fertility brands, such as Nexplanon or Implanon NXT, NuvaRing, Follistim AQ, and Elonva. The Company’s Biosimilars portfolio spans immunology and oncology treatments. It also has a portfolio of established brands, including brands in cardiovascular, respiratory, dermatology and non-opioid pain management. The Company sells these products through various channels, including drug wholesalers and retailers, hospitals, government agencies and managed healthcare providers, such as health maintenance organizations, pharmacy benefit managers and other institutions. It operates its manufacturing facilities in Belgium, Brazil, Indonesia, Mexico, the Netherlands and the United Kingdom.

Closing Price
Day's Change
0.31 (1.59%)
B/A Size
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TSMC stock rides Nvidia's AI wave to best week in more than a year

6:26 pm ET May 26, 2023 (MarketWatch)

By Wallace Witkowski

Chip fabricator that partners with Nvidia likely to see more demand, but analyst says it will only be a 'slight positive' because Nvidia captures most of the revenue

U.S. shares of Taiwan Semiconductor Manufacturing Co. rode the wind behind Nvidia Corp.'s record revenue forecast to their best week in nearly a year and a half.

TSM (2330.TW) shares rose 12% Thursday as Nvidia Corp.'s stock (NVDA) soared in response to news of a wave on expected sales of chips used for generative artificial intelligence, then added another 2.2% Friday. The stock finished the week up 11.5%, the best percentage gain in a week since the one ending Jan. 14, 2022.

With a 22.4% gain month to date already, shares also aren't far from their best month since January, when shares finished up 24.5%. That follows a 34.8% gain in November 2022.

In April, the Chip fabricator, or "fab" -- industry parlance for the high-tech factories where billions of transistors are etched onto silicon wafers to make chips -- trimmed its outlook but kept its capex forecast intact.

Read: Nvidia stock soars toward all-time high as record revenue forecast backed by 'killer app' of AI

Wedbush analyst Matt Bryson who covers Nvidia, said he expects TSMC to get a "slight positive" from Nvidia. "TSMC certainly benefits from Nvidia's success, but the absolute revenue contribution to TSMC is more modest given Nvidia's elevated margins on its data center GPUs."

Those elevated margins from data-center sales are expected to help Nvidia bounce back from a tough inventory year, Nvidia Chief Financial Officer Colette Kress told MarketWatch in an interview late Thursday.

Nvidia sells data-center chips to cloud service providers, or "hyperscalers," such as Microsoft Corp.'s (MSFT) Azure, Inc.'s (AMZN) AWS, Alphabet Inc.'s (GOOGL)(GOOGL) Google Cloud Platform, and Oracle Corp.'s (ORCL) Cloud Infrastructure, as well as consumer-internet companies and large businesses. Those companies are all looking to leverage generative AI, and are looking for more compute power at lower energy levels.

While considered the GPU leader in the data center, Nvidia still dukes it out with rival Advanced Micro Devices Inc. (AMD) and Intel Corp. (INTC), and is attempting to challenge those companies in the CPU market as well.

Read: Broadcom stock streaks to record high on hopes for Apple deal

TSM shares are up 38.6% year to date, while the PHLX Semiconductor Index is up 40%, the S&P 500 index is up 9.5%, and the and the tech-heavy Nasdaq Composite Index has gained 24%. Nvidia shares, meanwhile, are up 166.5% year to date.

-Wallace Witkowski

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 26, 2023 18:26 ET (22:26 GMT)

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