Valens stock falls after workforce reduction announcement

Investing.com -- Glaukos Corporation (NYSE:GKOS) stock climbed 6.3% on Wednesday after the company announced that the U.S. Food and Drug Administration (FDA) has approved its NDA labeling supplement allowing for re-administration of iDose TR using a repeat treatment protocol.

The approval provides physicians with the ability to re-administer iDose TR more than once in patients who maintain a healthy cornea, defined by specific corneal endothelial cell density parameters. This enhancement expands treatment options for glaucoma patients and offers greater flexibility in long-term management.

"We are pleased to announce this important labeling enhancement for iDose TR, which should help expand access for patients who may benefit from repeat treatment and provide physicians with greater flexibility in managing their glaucoma patients over time," said Thomas Burns, Glaukos chairman and chief executive officer.

iDose TR is an intracameral procedural pharmaceutical therapy designed to continuously deliver therapeutic levels of travoprost inside the eye for extended periods. The treatment addresses patient non-compliance issues and chronic side effects associated with traditional topical glaucoma medications.

Clinical studies have demonstrated a favorable long-term corneal safety profile for iDose TR, with no clinically significant corneal endothelial cell loss observed through three years in both Phase 3 and Phase 2b studies.

Following the announcement, BTIG analyst Ryan Zimmerman raised his price target on Glaukos to $131 from $123 while maintaining a Buy rating. The expanded label represents a significant improvement from the previous limitation of one iDose per eye per lifetime, giving the company greater optionality in the interventional glaucoma space.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Oracle (NYSE:ORCL) stock jumped briefly before paring gains Wednesday afternoon following a Bloomberg report that Blackstone (NYSE:BX) is considering expanding its financial commitment to Oracle’s data-center project in Michigan.

The alternative asset manager, which was already in talks to provide equity capital, is now also contemplating a debt investment to strengthen the site’s financing, according to people familiar with the matter. Bank of America (NYSE:BAC) is spearheading efforts to raise debt for the project with an initial target of $14 billion.

Oracle shares turned positive briefly on the news before settling down 0.8% in afternoon trading.

The Saline Township, Michigan project has faced increased scrutiny since Oracle confirmed last month that Blue Owl Capital (NYSE:OWL), a partner in some of its other AI infrastructure projects, would not be contributing equity.

Oracle’s stock has declined in recent months while the cost to insure its debt against default has risen, causing some potential investors to question whether the initial terms for the project can be maintained amid market volatility.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com - European stocks declined on Wednesday, as investors digested a flood of corporate earnings while cautiously awaiting the latest interest rate decision from the U.S. Federal Reserve.

The DAX index in Germany dropped 0.2% and the CAC 40 in France slipped 1.1%, while the FTSE 100 in the U.K. fell 0.5%. 

Fed meeting prompts caution  

Investors in Europe have shown a degree of caution ahead of the Federal Reserve’s interest rate decision later in the day, even as strong gains in technology and AI-related shares ahead of key U.S. megacap earnings lifted the benchmark S&P 500 index to record highs on Wall Street overnight.

The U.S. central bank is widely expected to keep interest rates unchanged later on Wednesday, and thus investors will likely focus on Chair Jerome Powell’s remarks for clues on the timing of potential rate cuts later this year.

Additionally, Powell’s term ends in May, and U.S. President Donald Trump said on Tuesday he will announce his pick for the new head of the Federal Reserve soon.

Trump has repeatedly pressed Powell to cut interest rates sharply, criticising the Fed head by claiming that he has been too slow in easing rates, creating concerns that his appointment of a replacement will result in a watering down of the independence of the central bank. 

German consumer sentiment rises

The mood among German consumers is set to improve in February, as the forward-looking GfK consumer sentiment index rose to -24.1 points in February from -26.9 points the month before, beating the expectations of a slight rise to -26.0 points.

The European Central Bank meets next week, and is widely expected to keep rates on hold at 2% for a fifth consecutive meeting with eurozone inflation remaining restrained and the region’s economy having proven more resilient than expected.

That said, ECB policymakers may need to consider another interest rate cut if further gains in the euro start to weigh on inflation, Austrian central bank governor Martin Kocher said in an interview with the Financial Times on Wednesday.

The euro rose to a more than four-year high on Tuesday as the dollar weakened amid investor concerns over U.S. policy risks and geopolitical tensions. 

ASML expresses confidence for 2026

Turning to the corporate sector, the earnings season has kicked into top gear in Europe, with ASML (AS:ASML) in the spotlight after the Dutch chipmaking equipment supplier beat fourth-quarter forecasts and offered upbeat guidance for 2026 after reporting a jump in orders. This has pointed to continued demand from makers of advanced chips used in artificial intelligence.

Volvo (ST:VOLVb) reported a smaller-than-forecast decline in fourth-quarter operating profit, but the Swedish truckmaker cut its overall annual dividend payment by more than expected.

Swiss contract drugmaker Lonza (SIX:LONN) projected 2026 sales growth of 11%-12% in constant exchange rates with core EBITDA margins expanding above 32%, maintaining strong momentum despite foreign exchange headwinds.

Wacker Chemie (ETR:WCHG) reported fourth-quarter earnings below expectations and the German chemicals maker provided limited details on a €300 million cost-cutting program.

Late Tuesday, LVMH (EPA:LVMH), the world’s largest luxury group, beat fourth-quarter sales forecasts, boosting hopes of a luxury sector rebound even as trade tensions, a weaker dollar and high gold prices squeezed margins.

There are also some major companies reporting on Wall Street, with tech giants Meta Platforms (NASDAQ:META), Tesla (NASDAQ:TSLA) and Microsoft (NASDAQ:MSFT) all set to release quarterly earnings after the close.

U.S. winter storm in spotlight

Oil prices moved slightly higher on Wednesday, as traders reacted to the severe winter storm in the U.S.. 

Brent futures gained 0.2% to $66.71 a barrel and U.S. West Texas Intermediate crude futures rose 0.3% to $62.58 a barrel.

Both benchmarks surged about 3% on Tuesday, after closing at the end of last week at their highest points since January 14. 

Estimates suggest U.S. producers lost up to 2 million barrels per day, or roughly 15% of national output, as the storm disrupted energy infrastructure and power grids.

Investing.com – U.K. stocks were lower after the close on Wednesday, as losses in the Pharmaceuticals & Biotech, Fixed Line Telecommunications and Aerospace & Defense sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 fell 0.50%.

The best performers of the session on the Investing.com United Kingdom 100 were B&M European Value Retail SA (LON:BMEB), which rose 3.47% or 5.90 points to trade at 176.10 at the close. Meanwhile, Scottish Mortgage Investment Trust PLC (LON:SMT) added 2.11% or 25.50 points to end at 1,235.50 and Persimmon PLC (LON:PSN) was up 1.86% or 26.50 points to 1,449.50 in late trade.

The worst performers of the session were Smiths Group PLC (LON:SMIN), which fell 3.29% or 86.00 points to trade at 2,530.00 at the close. AstraZeneca PLC (LON:AZN) declined 2.68% or 372.00 points to end at 13,508.00 and Airtel Africa Plc (LON:AAF) was down 2.50% or 9.00 points to 351.60.

Rising stocks outnumbered declining ones on the London Stock Exchange by 951 to 869 and 489 ended unchanged.

Shares in Scottish Mortgage Investment Trust PLC (LON:SMT) rose to 3-years highs; rising 2.11% or 25.50 to 1,235.50. Shares in Persimmon PLC (LON:PSN) rose to 52-week highs; up 1.86% or 26.50 to 1,449.50.

Gold Futures for April delivery was up 4.06% or 207.89 to $5,328.49 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.59% or 0.37 to hit $62.76 a barrel, while the April Brent oil contract rose 0.47% or 0.31 to trade at $66.90 a barrel.

GBP/USD was down 0.51% to 1.38, while EUR/GBP unchanged 0.40% to 0.87.

The US Dollar Index Futures was up 0.32% at 96.36.

Investing.com – Spain stocks were lower after the close on Wednesday, as losses in the Financial Services & Real Estate, Building & Construction and Consumer Services sectors led shares lower.

At the close in Madrid, the IBEX 35 fell 1.10%.

The best performers of the session on the IBEX 35 were Merlin Properties SA (BME:MRL), which rose 1.60% or 0.20 points to trade at 12.72 at the close. Meanwhile, Cellnex Telecom SA (BME:CLNX) added 1.59% or 0.40 points to end at 25.56 and Telefonica (BME:TEF) was up 1.37% or 0.05 points to 3.39 in late trade.

The worst performers of the session were Banco de Sabadell SA (BME:SABE), which fell 2.94% or 0.10 points to trade at 3.20 at the close. ACS Actividades de Construccion y Servicios SA (BME:ACS) declined 2.65% or 2.55 points to end at 93.80 and Banco Bilbao Vizcaya Argentaria SA (BME:BBVA) was down 2.64% or 0.57 points to 21.06.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 103 to 84 and 23 ended unchanged.

Gold Futures for April delivery was up 4.07% or 208.49 to $5,329.09 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.59% or 0.37 to hit $62.76 a barrel, while the April Brent oil contract rose 0.47% or 0.31 to trade at $66.90 a barrel.

EUR/USD was down 0.87% to 1.19, while EUR/GBP unchanged 0.40% to 0.87.

The US Dollar Index Futures was up 0.31% at 96.35.

Investing.com – Portugal stocks were higher after the close on Wednesday, as gains in the Telecoms, Basic Materials and Consumer Goods sectors led shares higher.

At the close in Lisbon, the PSI gained 0.11% to hit a new 5-year high.

The best performers of the session on the PSI were Galp Energia Nom (ELI:GALP), which rose 3.02% or 0.48 points to trade at 16.39 at the close. Meanwhile, Semapa (ELI:SEM) added 1.83% or 0.40 points to end at 22.25 and Nos SGPS SA (ELI:NOS) was up 1.27% or 0.06 points to 4.39 in late trade.

The worst performers of the session were Teixeira Duarte (ELI:TDSA), which fell 1.61% or 0.01 points to trade at 0.49 at the close. Mota Engil SGPS SA (ELI:MOTA) declined 1.40% or 0.06 points to end at 4.38 and EDP Renovaveis (ELI:EDPR) was down 1.31% or 0.17 points to 12.78.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 14 to 12 and 4 ended unchanged.

Shares in Semapa (ELI:SEM) rose to all time highs; up 1.83% or 0.40 to 22.25.

Brent oil for April delivery was up 0.47% or 0.31 to $66.90 a barrel. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.58% or 0.36 to hit $62.75 a barrel, while the April Gold Futures contract rose 4.10% or 210.04 to trade at $5,330.64 a troy ounce.

EUR/USD was down 0.88% to 1.19, while EUR/GBP unchanged 0.40% to 0.87.

The US Dollar Index Futures was up 0.31% at 96.35.