Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
People turn to apps to understand air quality
More people are turning to mobile apps to understand when air quality is improving or worsening, wherever they may be. The Airnow mobile app ranked as the sixth most downloaded free app on the app store for iPhone, outranking Tiktok, WhatsApp, and Instagram. Other mobile apps that are being downloaded include Iqair’s Airvisual and Aircare.
FDA advisory panel to discuss Alzheimer’s drug today
A panel of FDA advisers today will discuss Biogen and Eisai’s application for full approval of its Alzheimer’s drug. The application for a full approval is based on data showing Leqembi slowed the rate of cognitive decline in patients with early Alzheimer’s by 27% compared to a placebo.
Bud Light sales plunged in May
Bud Light sales plunged in May and is no longer the nation’s best-selling brew. Circana reports Modelo ranked number one in May, with $333 million in sales — a 15% increase from 2022. The sales drop for bud light follows a promotion debacle with a transgender rights activist.
Goldman Sachs: AI to add to u.s. company earnings
Goldman Sachs says artificial intelligence will add to U.S. company earnings over the next 10 years.
It believes the efficiencies of AI will add 14% to S&P 500 company earnings over the next 10 years.
Stock Update
The s&p 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low. Tech stocks led the way higher Thursday.