Month: September 2020

(Bloomberg) — Sanofi said the rheumatoid arthritis medicine Kevzara failed to work against the new coronavirus, joining a growing list of treatments that were tried and discarded in the pandemic.The drug, which stoked hope against Covid-19 because it works on inflammation, didn’t significantly shorten patients’ hospital stays in a study involving 420 people, Sanofi said in a statement Tuesday. Patients were about as likely to develop severe infections such as pneumonia and die on Kevzara as they were on a placebo.Doctors and drugmakers are scouring labs for existing treatments — from antiviral drugs to plasma from recovered patients — that …read more […]

(Bloomberg Opinion) — A 19% one-day jump in a company’s stock price in the current pandemic-driven recession is the kind of thing you’d expect from the U.S. tech sector, not the staid world of European utilities.Still, that’s what France’s Suez SA, whose business is water treatment and waste management, delivered on Monday after rival Veolia Environnement SA offered more than 2.9 billion euros ($3.5 billion) for 29.9% of the firm.The stake, currently held by gas utility Engie SA, is just the appetizer. Veolia’s boss, Antoine Frerot, is proposing to eventually swallow all of Suez and build a “world champion” with …read more […]

As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and gas assets and costly drilling programmes in remote parts of the world in a relentless drive to produce more. Fast forward through an oil price crash in 2014 followed by the fallout from the coronavirus pandemic this year and some big oil companies are counting the cost of …read more […]

T2 Biosystems (TTOO) has announced that the U.S. Food and Drug Administration (FDA) has issued Emergency Use Authorization (EUA) for its COVID-19 molecular diagnostic test, the T2SARS-CoV-2 Panel. Shares surged 19% in after-hours trading on the news.TTOO’s molecular diagnostic test detects the COVID-19 virus, SARS-CoV-2, and provides results in under two hours using a nasopharyngeal swab sample. It runs on the company’s fully-automated T2Dx Instrument, which can carry out seven tests simultaneously.Clinical testing on both positive and negative patient samples demonstrated a sensitivity of 95% and specificity of 100%, says the company.“We believe the Emergency Use Authorization for our COVID-19 …read more […]

Walmart Inc on Tuesday unveiled the perks of its new membership program, Walmart Plus, which will grant subscribers unlimited free delivery, fuel discounts and no checkout lines. Touted as a rival to Amazon.com Inc’s Prime subscription, Walmart’s new loyalty program will cost $98 a year or $12.95 a month. Amazon Prime, which offers U.S. shoppers fast shipping, streaming video and other services, costs $119 a year or $12.99 a month. …read more […]

Eastman Kodak Company (NYSE: KODK) stock witnessed a relatively flat day of trading on Monday with a 0.66% downward movement and closing at $5.98 at the end of trading hours. However, in the extended trading hours, the stock price briefly peaked at $8.70.What Happened: On Aug 30, there were reports of a class-action lawsuit against the company for securities fraud. A day after the news broke, the company filed a Form 13G with the SEC disclosing that a prominent hedge fund company has purchased a stake in Kodak.According to the SEC filing on Aug 31, Delaware hedge fund D.E. Shaw …read more […]

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […] …read more […]

There are dollar bears, and then there’s Ulf Lindahl. The chief investment officer of currency manager A.G. Bisset believes the U.S. currency will plunge 36% against the euro over the next year or so, taking it to levels it has not seen in more than a decade. The greenback’s recent weakness “is the beginning of a very large move” that could hurt the droves of investors exposed to it through their holdings in U.S. stocks and bonds, Lindahl said. …read more […]

How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […] …read more […]

At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). We reversed our stance on March 25th after seeing unprecedented fiscal and monetary stimulus unleashed by the Fed and the Congress. […] …read more […]

At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). We reversed our stance on March 25th after seeing unprecedented fiscal and monetary stimulus unleashed by the Fed and the Congress. […] …read more […]

Walmart+ will rollout nationwide on Sept. 15, which the retailer is calling ‘the ultimate life hack’ …read more […]

We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […] …read more […]

At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). We reversed our stance on March 25th after seeing unprecedented fiscal and monetary stimulus unleashed by the Fed and the Congress. […] …read more […]