After AbbVie reported that one of its two Phase 3 trials of elagolix in patients with uterine fibroids met its primary efficacy endpoint and all ranked secondary endpoints, Piper Jaffray analyst Christopher Raymond said it was "hard to quibble with the efficacy data." He expects to see 12-month data from both trials later this year or early next, which would set up for a potential uterine fibroids launch in 2020. Raymond, who said he "would not be shocked" if his revenue estimates in this indication prove conservative, keeps an Overweight rating on AbbVie.

Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus $2.20... Chevron (CVX), consensus $2.87... AbbVie (ABBV), consensus $2.23... HCA Healthcare (HCA), consensus $5.01... Colgate-Palmolive (CL), consensus 81c... Charter (CHTR), consensus $7.92... AutoNation (AN), consensus $4.27.

AbbVie announced positive topline results from LEVEL UP, an open-label, efficacy assessor-blinded head-to-head Phase 3b/4 study that evaluated the efficacy and safety of upadacitinib versus dupilumab in adults and adolescents with moderate-to-severe atopic dermatitis who had an inadequate response to systemic therapy or when use of those therapies was inadvisable. In the LEVEL UP study, upadacitinib showed superior efficacy versus dupilumab in the primary endpoint, demonstrating that a significantly higher proportion of patients simultaneously achieved both a 90% or greater reduction in Eczema Area and Severity Index and a Worst Pruritus Numerical Rating Scale of 0 or 1 at Week 16.