Month: July 2020

Chinese e-commerce giant Alibaba Group Holding Ltd has fired Zhao Yan, the head of its fast-growing livestreaming division, on grounds of nepotism and accepting gifts, according to an internal memo announcing his termination, seen by Reuters. The undated document, produced by Alibaba’s human resources department and published on June 29 on the company’s internal intranet for staff, says Zhao was fired after he used his position to help third-party livestreamers score favorable positioning on Taobao Live, Alibaba’s main platform for live-streamed e-commerce. …read more […]

The coronavirus pandemic showed no signs of relenting on Thursday, with the U.S. marking a new record of over 50,000 cases in a day amid a surge of new cases in the Sun Belt. …read more […]

If you are looking for the best ideas for your portfolio you may want to consider some of Ensemble Capital’s top stock picks. Ensemble Capital, an investment management firm, is bullish on Starbucks Corp (NASDAQ:SBUX) stock. In its Q4 2019 investor letter – you can download a copy here – the firm discussed its investment […] …read more […]

Yahoo Finance’s Brian Sozzi and Alexis Christoforous discuss with Wedbush’s Tesla upgrade with analyst Dan Ives. …read more […]

No pain, no gain goes the well-worn axiom. A stock market themed inverse can read: no gain, shareholder pain. You can currently apply the latter to Intercept Pharmaceuticals (ICPT). The small-cap biotech was hoping to gain the FDA’s nod of approval for its liver disease therapy, but there was only pain to endure, as the NDA was rejected. As a result, shares were sent tumbling by 40% on Monday June 29. So, what happened exactly? ICPT received a CRL from the FDA regarding its obeticholic acid (OCA) treatment in advanced-stage non-alcoholic steatohepatitis (NASH), due to a lack of evidence showing …read more […]

The coronavirus pandemic has ground businesses across the country to a halt.
But the best biotech IPOs and firms have been stomping on the gas pedal. And those who took the leap of faith and invested in them early have been rewarded handsomely.
In June alone, there were no less than 14 IPOs in the sector. And a good chunk of them are outperforming the broader markets.
When Pliant Therapeutics (Nasdaq: PLRX) IPOed, it was fetching $16 per share. Share prices have since jumped close to 70% in less than a month of trading.
Forma Therapeutics (Nasdaq: FMTX), which develops therapies for rare diseases …read more […]

As we enter the second half of the year, pharma companies are still frantically engaged in the search for a COVID-19 vaccine. There are many companies in the mix, but it is not a level playing field, as big players are pitted against smaller names. At the onset of the pandemic, Novavax (NVAX) stood squarely in the latter camp. Facing pharma giants such as Pfizer, AstraZeneca and J&J, the small-cap biotech was at a disadvantage from the start. However, the vaccine specialist has become a force to be reckoned with. The incredible share gains (almost 1,855% year-to-date) which have pushed …read more […]

Celebrations may be in order for OncoCyte Corporation (NYSEMKT:OCX) shareholders, with the analysts delivering a… …read more […]

Yahoo Finance’s Rick Newman joins The First Trade to discuss Ford’s latest partnership with Disney to unveil its Bronco SUV in July. …read more […]

Quincy Krosby, Chief market strategist at Prudential Financial, joins The First Trade to discuss her thoughts on the markets and where investors should be looking. …read more […]

Those following along with NantKwest, Inc. (NASDAQ:NK) will no doubt be intrigued by the recent purchase of shares by… …read more […]

The coronavirus marches on, but healthcare names all over the world are fighting back. Earlier this week, Gilead Sciences (GILD), the manufacturer of COVID-19 antiviral drug remdesivir, revealed the pricing plan for the treatment. A five-day course of remdesivir will be sold to governments of developed nations, including the US, for a price of $2,340 ($390 per vial). US private health insurers will need to fork up $3,120 for the course ($520 per vial). Other countries, though, will find it difficult to get hold of the treatment over the next three months. The Trump administration has purchased over 500,000 doses, …read more […]

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The former driver’s tweets and video are in stark contrast to the feel-good worker-vignettes that Amazon has been airing as TV commercials. …read more […]

The U.S. Treasury said on Thursday it has agreed on terms for government loans with five U.S. carriers, including American Airlines Group Inc. The Treasury said it had signed letters of intent with American, Frontier Airlines, Hawaiian Airlines, SkyWest Airlines, and Spirit Airlines under a $25 billion emergency loan program created by Congress in March. American said on Thursday it expects to close on a $4.75 billion Treasury loan in the third quarter on top of $5.8 billion in payroll assistance it was previously awarded. …read more […]