TLDR

MARKET RECAP → Stocks climbed Friday, building on the week’s strong gains, as investors digested shifting global trade dynamics and major tech names rallied.

ALPHABET SURGES ON STRONG AD GROWTH → 📊 Alphabet popped 3% after flexing its ad muscle, with search and YouTube revenues beating expectations—even as AI rivals and tariff worries loomed in the background.

NOVO NORDISK BLOCKS COMPOUND COPYCATS → 💊 Novo Nordisk scored a major legal win as a federal judge cleared the FDA to crack down on pharmacies making unauthorized Wegovy and Ozempic copies, reinforcing its grip on the weight-loss drug market.

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TODAY’S TOP NEWS

Alphabet Surges on Strong Ad Growth

📈 Alphabet jumped 3% after posting better-than-expected earnings and revenue, driven by resilient growth in its search and advertising units. Earnings came in at $2.81 per share on $90.23B in revenue, both beating Wall Street’s estimates.

💰 Advertising revenue hit $66.89B, up 8.5% YoY, while YouTube pulled in $8.93B—slightly shy of expectations. AI-powered tools like Google’s AI Overviews continue to scale, now reaching 1.5B monthly users.

🌏 While the company flagged macro risks—like Trump’s tariffs and the end of the de minimis loophole—it downplayed near-term impacts. Analysts say the real upside may lie in AI monetization and cloud growth.

TODAY’S TOP NEWS

Novo Nordisk Blocks Compound Copycats

🍽️ Novo Nordisk won a major legal battle barring compounding pharmacies from producing knockoff versions of Wegovy and Ozempic, after a Texas judge ruled the FDA can crack down on copycat semaglutide.

🧪 The court sided with the FDA's stance that the semaglutide shortage is over, stripping compounders of their legal workaround to make custom versions. Novo, citing patient safety, has filed over 100 lawsuits to stop the sale of unapproved alternatives.

💊 This decision clears the way for the FDA to go after both prescription-based 503A pharmacies and large-scale 503B compounders starting May 22. It's the latest win in Big Pharma's war on the booming compound market.

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