Domino's Pizza (DPZ) shares fell Thursday morning when the pizza delivery giant's better-than-expected profit was offset by a revenue miss and soft guidance.

The company reported third-quarter earnings per share (EPS) of $4.19, $0.59 above the consensus estimate of analysts surveyed by Visible Alpha. Revenue was up 5.1% year-over-year to $1.08 billion, but that was short of forecasts.

Domino’s said the performance was driven primarily by higher revenue from its supply chain, U.S. franchise advertising, and U.S. franchise royalties and fees. The company noted the supply chain gains came mostly from a rise in order volumes and an increase in the "food basket pricing to stores."

Gross margin at U.S. company-owned stores climbed 1.0 percentage point, which it attributed to "sales leverage due to higher customer transaction counts."

Chief Executive Officer (CEO) Russell Weiner explained that the results demonstrated the company's strategy is working "despite a pressured global marketplace."

Domino’s warned that full-year performance will be affected by a "challenging macroeconomic environment and its impact on current business trends across the globe." It now sees 2024 global retail sales growth of 6%, down from at least 7%.

Shares of Domino's Pizza, which were basically flat year-to-date through Wednesday's close, slipped about 2% soon after the opening bell.

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Shares of Monte Rosa Therapeutics (GLUE) more than doubled Monday after the biotechnology company struck an exclusive development and commercialization license agreement with Novartis (NVS) for its treatments for immune system diseases that could be worth more than $2 billion.

The company said that Novartis will pay $150 million up front for exclusive worldwide rights to develop, manufacture, and commercialize its molecular glue degrader (MGD) drug, MRT-6160, currently in a Phase 1 trial, as well as other MGDs. Monte Rosa explained that it could then receive up to $2.1 billion in "development, regulatory, and sales milestones, beginning upon initiation of Phase 2 studies, as well as tiered royalties on ex-U.S. net sales."

Novartis will be responsible for all clinical development and commercialization, starting with Phase 2 clinical studies. Monte Rosa will complete the Phase 1 trial, and co-fund the Phase 3 clinical development. It will share any profits and losses associated with the manufacturing and commercialization of MRT-6160 in the U.S.

Monte Rosa Chief Executive Officer (CEO) Dr. Markus Warmuth explained that the money raised from the deal is "expected to extend our operational runway, enable us to advance our pipeline to potential value-creating milestones and anticipated proof-of-concept readouts, and further leverage our QuEEN discovery engine."

Monte Rosa Therapeutics recently were up 130% at $11.21, trading at their highest level in more than two years. American depositary receipts (ADRs) of Novartis were up about 1.5% at $115.47.

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