Michael Burry Calls Anthropic's Valuation a Bubble Worth 78 S&P 500 Companies

On October 8, shares of OLED materials company Universal Display (OLED.O) fell by 4.5% in pre-market trading to $73.8. Citigroup downgraded Universal Display from “Neutral” to “Sell” and lowered its price target from $85 to $71. The new target price implies about an 8% downside from the previous closing price. The brokerage pointed out the continued weakness in the smartphone market and delays in the adoption of blue OLED technology. Citigroup also noted that high memory costs and weak demand for mid- and low-end smartphones may continue to drag down sales of OLED materials. Out of 10 brokerages, seven rate the stock as “Buy” or higher, and three rate it as “Hold.” The median price target is $117.5. As of the previous trading day's close, the stock had fallen a cumulative 33.88% so far this year.

ICON will report third-quarter 2026 results on Tuesday, Oct. 27, 2026, following the market close. Management will discuss the results on an earnings call, webcast Wednesday, Oct. 28, 2026, at 8:00 a.m. ET. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ICON plc published the original content used to generate this news brief via Business Wire (Ref. ID: 202610080800BIZWIRE_USPR_____20261008_BW018649) on October 08, 2026, and is solely responsible for the information contained therein.

On October 8, shares of heart disease drug developer Atrium Therapeutics (RNA.O) rose 11.3% to $8.83 in pre-market trading on Thursday after the company successfully raised $50 million. The biopharmaceutical company announced it has agreed to sell about 6.3 million shares and pre-funded warrants to institutional investors through a private placement at $7.93 per share. RNA’s shares closed down 0.8% at $7.93 on Wednesday and have fallen roughly 44% in the past month. The company plans to use the net proceeds for the development of its two main product candidates, other research projects, among other uses. Atrium expects that the funds raised, together with existing cash and investments, will be sufficient to support its operations through 2028. Leerink acted as the lead placement agent for this offering, with Cantor Fitzgerald, Barclays, and Wells Fargo participating as well. Based in San Diego, California, Atrium has signed collaboration agreements with Bristol Myers Squibb (BMY.N) and Eli Lilly (LLY.N), and has about 17.1 million shares outstanding. Atrium began public trading on February 27 (link), following a spinoff from Avidity Biosciences (link), which was subsequently acquired by Swiss pharmaceutical company Novartis (NOVN.S).

October 8 - ** Shares of dental products distributor Henry Schein (HSIC.O) dropped 2% to $82 in pre-market trading. ** Ronald South, who has served as CFO for the past four years, will transition to Senior Advisor. ** Emmanuel Caprais will take over as CFO, officially assuming the role on November 4. ** Caprais was previously the Chief Financial Officer of global industrial manufacturer ITT. ** This leadership change comes about seven months after Frederick Lowery succeeded Stanley Bergman as CEO; Bergman had led the company for 35 years. ** Among 18 brokers, 9 rate the stock as “buy” or above, 8 as “hold”, and 1 as “sell”; the median target price is $96—data compiled by LSEG. ** As of the previous trading day's close, the stock has risen 10.69% year-to-date.