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Johnson & Johnson (NYSE:)’s MedTech unit is planning to seek FDA clearance for its Ottava robotic surgical system in 2024, following delays caused by technical issues and disruptions from COVID-19. The Ottava system is expected to compete with other industry giants such as Intuitive Surgical (NASDAQ:) and Medtronic (NYSE:).
In other corporate news, Uber Technologies (NYSE:) reported a miss in Q3, attributing the results to changes in its business model which impacted gross bookings and revenue. However, the company’s adjusted EBITDA rose to $1.09 billion.
Intel (NASDAQ:)’s shares saw an appreciation after the CEO made positive comments about its foundry business. The company’s 18A advanced node is slated for test production next year. Meanwhile, Air Lease (NYSE:) expressed concerns about Boeing (NYSE:) and Airbus meeting their year-end plane delivery targets due to supplier manufacturing issues. Despite this, Air Lease is benefiting from the resulting supply-demand imbalance.
Lumen Technologies secured an approximately $110 million contract extension from the Defense Information Systems Agency (DISA) for network services to the U.S. Department of Defense.
Datadog (NASDAQ:) reported strong Q3 earnings and a bullish outlook, surpassing average analyst estimates. Celsius Holdings (NASDAQ:) also posted record Q3 revenue and earnings, driven by their North American expansion.
BioMarin shares experienced a surge after Elliott Management built a stake in the firm. The nature of their discussions remains undisclosed at this time.
Goldman Sachs double-upgraded DigitalOcean due to stock underperformance while maintaining a 12-month price target of $33. Under US pressure, Baidu (NASDAQ:) ordered AI chips from Huawei as an alternative to Nvidia (NASDAQ:).
Tesla (NASDAQ:) has plans to increase Model Y prices in China. Lastly, Air Products and Chemicals (NYSE:) reported Q4 Non-GAAP EPS of $3.15 but missed on revenue.
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