Stock Movers: Apple Jumps on Tariff Exemptions, Goldman Sachs Rises on Trading Revenue, Pfizer Halts Obesity Pill

Apple's Tariff Relief

• 🍎 Apple shares rallied approximately 4% following the Trump administration's decision to exempt phones, computers, and certain electronics from reciprocal tariffs.
• ⚠️ Despite the exclusions, there are indications that the reprieve might be temporary, with the president vowing to still apply tariffs to some popular consumer electronics.

Goldman Sachs' Earnings Boost

• 📈 Goldman Sachs stock saw a rise after reporting record quarterly revenue for its stock traders, driven by market volatility.
• 📊 Equity trading revenue increased by 27% year-over-year, reaching $4.19 billion in the first three months of the year.
• 💬 While trading performed well, the CEO noted that deal-making remains challenging due to uncertainty surrounding M&A dialogues.

Pfizer's Obesity Pill Development Halted

• 💊 Pfizer announced it is ceasing development of an experimental obesity pill after it was linked to liver injury in a clinical trial.
• 🔬 The company will not advance the once-daily medicine to final testing stages and will instead focus on earlier-stage obesity treatments.
• 📉 Following this news, Pfizer shares edged lower.