Biogen is a biotech company that develops, manufactures, and sells therapies for treating neurological and neurodegenerative diseases. The company is the market leader in MS drugs and launched the first approved treatments for spinal muscular atrophy and AD. The company also sells products that treat plaque psoriasis, non-Hodgkin's lymphoma, lymphocytic leukemia, and rheumatoid arthritis. Current research continues on MS and has expanded to include neuroimmunology, ophthalmology, lupus, and other neuromuscular and movement disorders. Founded in 1978, the company is located in Cambridge, Massachusetts, employs 7,605 people, and is a component of the S&P 500.

Stocks are comfortably in the green at midday on Friday, led by a strong jobs report and earnings reports that are often ahead of expectations. Guidance on the impact (or not) of tariffs remains the wild card. On the jobs front, the Bureau of Labor Statistics (BLS) reported that the U.S. economy generated 177,000 nonfarm jobs in April, above our near-consensus forecast of 130,000. March's payrolls were revised lower by 43,000 and February by 15,000. The April result and the revisions to past results raised the three-month average to 155,000 from 152,000. Nonfarm payrolls are one of the indicators that the National Bureau of Economic Research (NBER) says it watches closely in assessing whether the U.S. is in a recession.

Paramount Global operates in three global business segments: TV media, filmed entertainment, and direct to consumer. The TV media business includes television production studios and various broadcast and cable networks, including CBS, 15 owned CBS affiliates, Paramount, Nickelodeon, MTV, BET, and VH1. Filmed entertainment consists multiple film studios, most importantly Paramount Pictures. The film studios produce and distribute movies that they license to movie theaters and other media outlets. Direct to consumer includes the Paramount+, Pluto TV, and BET+ streaming services. Much of the content on Paramount’s streaming platforms is created by the production studios housed within the firm’s other two business segments.

Disney operates in three global business segments: entertainment, sports, and experiences. Entertainment and experiences both benefit from the firm’s ownership of iconic franchises and characters. Entertainment includes the ABC broadcast network, several cable television networks, and the Disney+ and Hulu streaming services. Within the segment, Disney also engages in movie and television production and distribution, with content licensed to movie theaters, other content providers, or, increasingly, kept in-house for use on Disney’s own streaming platform and television networks. The sports segment houses ESPN and the ESPN+ streaming service. Experiences contains Disney’s theme parks and vacation destinations, and also benefits from merchandise licensing.