Welcome to Markets Desk, your midday read on what's moving the needle.
Bristol Myers Squibb is flashing a discount, but investors should think twice before stepping in. The pharma giant is staring down a serious patent cliff, meaning key revenue-generating drugs are losing exclusivity, and that kind of structural headwind doesn't resolve itself quickly. A cheap entry price means nothing if the earnings floor keeps dropping.
Shifting gears, McKinsey is now offering job candidates an AI-powered practice tool for its notoriously demanding interview process, giving applicants unlimited runs at quantitative case studies before the real thing. The firm frames it as leveling the playing field against expensive coaching services, though cynics might note it also tells McKinsey quite a bit about how candidates think before they even walk through the door.
And on the AI consumer side, a wave of everyday Americans are using so-called vibe-coding, essentially prompting AI tools to build simple software solutions, to automate the friction out of ordinary life. A firefighter streamlined grocery runs, a dad found a way to effectively be in two places at once. It's a quiet but telling signal of how broadly these tools are diffusing beyond the tech world and into the mainstream.
That's the tape. Markets Desk, signing off the floor.
