This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- AbbVie (ABBV) beat Q3 earnings expectations with an Adjusted EPS of $3.82 (vs. $3.74 est.) and raised its FY 2026 guidance to a range of $13.95–$13.99.
- President Donald Trump stated in a radio interview that the war with Iran is "going to get wrapped up soon," emphasizing the need for a guarantee against nuclear weapons.
- Tensions in the Strait of Hormuz escalated as Iran's Navy claimed to destroy a U.S. unmanned vessel, though no official U.S. confirmation has been provided.
- China's President Xi Jinping called for an equal dialogue with the EU, suggesting that differences can be resolved if both sides maintain their partnership positioning.
- Skyrizi revenues surged to $5.78 billion, significantly offsetting the continued decline of Humira, which fell to $683 million.
Trump Signals Imminent Resolution to Iran Conflict
President Donald Trump intensified his rhetoric regarding the ongoing conflict with Iran on Friday, declaring in an interview with KCMO Radio that the war "is going to get wrapped up soon." Speaking just days before the November 3 midterm elections, Trump reiterated his administration's hardline stance, stating that the U.S. requires a firm guarantee that Tehran will never possess a nuclear weapon.
The President's comments follow a high-level briefing on Thursday where he was presented with potential military options for Iran. While Trump has previously indicated that no major strikes would occur before the elections, he noted that "anything's possible" and suggested that Iran must eventually "make a deal" as many of its leaders are now "gone."
Maritime Tensions Rise in the Strait of Hormuz
The geopolitical situation remains volatile as Iranian state media reported that its navy destroyed a U.S. unmanned vessel in the eastern Strait of Hormuz on Friday. This claim follows reports of multiple tankers striking mines in the strategic waterway, which handles approximately 20% of global oil consumption.
The U.S. military has not yet confirmed the destruction of the unmanned vessel. However, the Islamic Revolutionary Guard Corps (IRGC) has reportedly increased its presence in the region, enforcing what it calls "unauthorized route" restrictions and punishing tankers that bypass Iranian-monitored corridors.
AbbVie Delivers Strong Q3 Results and Raises Guidance
Pharmaceutical giant AbbVie (ABBV) reported robust third-quarter 2026 financial results, driven by the explosive growth of its immunology portfolio. The company posted Net Revenues of $17.40 billion, slightly exceeding the $17.34 billion analyst estimate. The growth was spearheaded by Skyrizi, which brought in $5.78 billion, and Rinvoq, which contributed $2.71 billion.
The success of these newer assets has effectively mitigated the erosion of Humira, which saw its revenue drop to $683 million as biosimilar competition continues to take market share. Based on the strong quarterly performance, AbbVie raised its full-year Adjusted EPS guidance to $13.95–$13.99, up from the previous range of $13.76–$13.96.
Xi Jinping Calls for Stability in China-EU Relations
Amidst global trade friction, Chinese President Xi Jinping emphasized the importance of maintaining a stable partnership with the European Union. During a meeting with the Swiss President, Xi noted that as long as both sides uphold "equal dialogue," any differences or problems can be resolved.
These remarks come as China seeks to navigate a complex trade landscape marked by EU investigations into Chinese subsidies and U.S. tariff pressures. Xi's call for "open cooperation" reflects Beijing's effort to maintain access to European markets while countering what it describes as a shift toward global protectionism.
Automated market updates written with AI from market data and news wire reports, published without human review.