Month: June 2020

(Bloomberg) — Here we go again. A day after filing for bankruptcy protection, shares of GNC Holdings Inc. had their biggest gain in weeks.GNC jumped as much as 71% in New York on Thursday. That’s the biggest gain since June 8, with the beleaguered stock briefly trading for over $1 a share — the highest in more than a week. It’s happening even though the company’s turnaround plan warns shareholders they’ll be wiped out.The move will likely remind investors of the bizarre trading this month in Hertz Global Holdings Inc. Its stock rose almost tenfold after the car renter filed …read more […]

You may be wondering how to achieve financial freedom. After all, it would be nice to be free from any and all money troubles. But how do you get there?
I may have some bad news for you: it’s going to take a lot of patience, sweat and hard work. But here’s the good news: if one is willing to put in that patience, sweat and hard work, anyone can achieve financial freedom. Even you.
In this article, we’ll dive deeper into how you can there. There are many steps it will take for you to be truly financially free. But in …read more […]

Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Rick Newman discuss the new polling data that shows that presumptive Democratic presidential nominee Joe Biden is leading in 6 battleground states. …read more […]

Horos Asset Management recently released its Q1 2020 Investor Letter, a copy of which you can download here. Horos Value Iberia fell by -35.1% compared to -27.6% of its benchmark index. On the other hand, Horos Value Internacional was down by -30.2% compared to -19.6% of its benchmark index. You should check out Horos Asset […] …read more […]

Yahoo Finance’s Alexis Christoforous and Brian Sozzi discuss what’s happening in the markets today with Ned Davis Research Chief Global Investment Strategist, Tim Hayes. …read more […]

Wirecard shares crashed to 2.5 euros on Thursday from 104.5 euros a week ago, before the company revealed a $2.1 billion hole in its accounts. Together, the 10 hedge funds have made hundreds of millions between the company announcing its mammoth accounting hole on June 18 and Thursday, when it applied for insolvency. London-based TCI has made a profit of 173.6 million euros, while Marshall Wace and Greenvale have made 146.5 million and 110.1 million, respectively, according to Reuters calculations. …read more […]

The company separately said it would buy back up to $1.5 billion worth of senior notes due in 2021 and 2022 as it tries to reduce its debt, which ballooned to $40 billion after an ill-timed acquisition of Permian producer Anadarko last year. Occidental said it expects preliminary oil and gas production from continuing operations for the second quarter to lean toward the high-end of range of 1.3 million-1.4 million barrels of oil equivalent per day (mboed). The Anadarko purchase saddled Occidental with a huge debt and the oil-price crash has cut the value of assets Occidental picked …read more […]

(Bloomberg) — Macy’s Inc. announced plans to slash thousands of back-office jobs in a striking admission that the reeling retail sector won’t be returning to the good old days anytime soon.The restructuring, including the elimination of about 3,900 corporate and management jobs, is expected to save the company $365 million this fiscal year, then about $630 million a year going forward, it said in a statement.“We know that we will be a smaller company for the foreseeable future, and our cost base will continue to reflect that moving forward,” Chief Executive Officer Jeff Gennette said.Shares fell as much as 4.2% …read more […]

Yahoo Finance’s Alexis Christoforous and Brian Sozzi break down the latest coronavirus news with Dr. Dara Kass, Yahoo Finance Medical Contributor and Columbia University Associate Professor of Emergency Medicine. …read more […]

Under the deal, Catalent will provide manufacturing services for an initial 100 million doses starting in the third quarter at its facility in Bloomington, Indiana. It will also provide other packaging and labeling, storage and distribution services at its facilities in Philadelphia, Pennsylvania to support Moderna’s late-stage vaccine trial, which is expected to begin in July. Drugmakers including Johnson & Johnson and AstraZeneca Plc have also signed agreements to boost manufacturing capacity for their experimental vaccines even before having adequate evidence of their efficacy. …read more […]

The European Medicines Agency (EMA) said on Thursday its human medicines committee (CHMP) recommended the drug’s use in adults and adolescents from 12 years of age with pneumonia who require oxygen support. In the United States, it could be priced up to $5,080 per course, while Indian generic drugmakers will sell the treatment between 5,000 rupees to 6,000 rupees ($66.13-$79.35). The EMA endorsement, which comes just weeks after a speedy review, means physicians can prescribe the Gilead drug, to be branded Veklury, in Europe once approved by the European Commission, which usually follows CHMP recommendations. …read more […]

The oil industry’s inroads to cutting supply are “dwarfed by the by the cuts that we’ve seen in demand,” even as states re-open their economies amid the coronavirus pandemic, says one oil expert. …read more […]