Month: October 2020

(Bloomberg) — Poland’s antitrust watchdog slapped a $7.6 billion fine on Gazprom PJSC over the Nord Stream 2 pipeline, opening a new front in the bitter political battle over the natural gas project. Wednesday’s surprise move raises a whole set of legal questions about the plan, which is teetering on the brink.What was the fine for?The antitrust authority said Gazprom and its partners, which were ordered to pay about $61.3 million, failed to get its approval for a joint venture to finance the pipeline. Completing the project makes European gas customers more dependent on a single supplier, Gazprom, and may …read more […]

(Bloomberg) — U.S. equity futures climbed after the White House appeared to shift tack and signaled the Trump administration is again leaning toward a large-scale stimulus bill. The dollar fell.S&P 500 contracts were about 0.6% higher following news that Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Shares in Japan and Australia dipped, while rising in Hong Kong. Chinese equities advanced as markets reopened after a week-long holiday. The offshore yuan climbed following a stronger-than-anticipated daily currency fixing.The U.S. benchmark earlier closed up despite conflicting comments from Trump and Pelosi …read more […]

Boeing Co is in discussions to sell 737 MAX jets to Alaska Airlines once the plane returns to service following a lengthy grounding, three people familiar with the matter said. The talks are part of a series of negotiations between Boeing and several airlines over jet orders or compensation after the 737 MAX was banned worldwide following two fatal crashes. Boeing and Alaska Airlines, which is part of Alaska Air Group Inc , declined to comment. …read more […]

(Bloomberg) — Advanced Micro Devices Inc. is in advanced discussions to buy Xilinx Inc. in a takeover that could be valued at $30 billion, according to people familiar with the matter.The deal could come together as early as next week, though things remain in flux, the people said, asking not to be identified discussing a private deal. The Wall Street Journal first reported on the negotiations.A combination with Xilinx would give AMD Chief Executive Officer Lisa Su more of the pieces needed to break Intel Corp.’s stranglehold on the profitable market for data-center computer components. It would follow moves by …read more […]

Final data from Gilead Sciences Inc’s antiviral drug remdesivir showed the treatment cut COVID-19 recovery time by five days compared with patients who got a placebo, one day faster than indicated in preliminary data, the company and researchers said on Thursday. In patients who were on oxygen when they first got the drug, remdesivir – sold under the brand Veklury – reduced recovery time by seven days compared with placebo after 29 days, according to the 1,062-patient study, published in the New England Journal of Medicine. Gilead’s drug was among the first to be used as a …read more […]

It has been a year of two halves for Gilead Sciences (GILD). Following the pandemic’s onset, the pharma heavyweight was initially one of the main beneficiaries. Hopes were high Gilead’s experimental Covid-19 antiviral drug remdesivir will play its part in combating COVID-19, and shares dutifully took off.But since April’s yearly highs, Gilead has faced a series of headwinds which have stunted its market performance.Disappointing earnings, a CRL (complete response letter) from the FDA for rheumatoid arthritis (RA) treatment filgotinib, and concerns regarding remdesivir’s commercial potential, are among the reasons why shares have swung into the red in 2020.Now remdesivir is …read more […]

When it came to deliveries, Telsa (TSLA) delivered. Last week, the electric car maker announced that quarterly deliveries hit a new record.As a result, Deutsche Bank analyst Emmanuel Rosner bumped up his Q3 revenue forecast from $8.2 billion to $8.5 billion, and believes deliveries for the full year will be higher than he originally expected.It should be noted that following the company’s Battery Day event, the analyst upgraded the rating to Buy, recommending that investors “use any deliveries-related stock weakness to accumulate Tesla shares ahead of significant growth acceleration in Q4 and 2021.”Expounding on the company’s prospects, Rosner commented, “Expectations …read more […]

SHANGHAI, Oct. 8, 2020 /CNW/ — CBC Group (“CBC”), a healthcare-dedicated investment platform, today celebrates the initial public offering (IPO) of Everest Medicines (“Everest”) (1952. …read more […]

Novavax (NVAX) is back in the news again, only this time, it’s not because of its COVID-19 vaccine candidate. During the 2020 World Vaccine Congress Washington last week, the vaccine maker presented data from the Phase 3 respiratory syncytial virus (RSV) and NanoFlu programs, with the latter attracting significant attention from the Street.The incremental cell-mediated immunity (CMI) data for NanoFlu, its seasonal quadrivalent influenza vaccine candidate, demonstrated that the asset was able to induce substantially higher polyfunctional CD4+ T cell responses than what had been previously reported for other “enhanced” influenza vaccines in older adults.The Phase 3 NanoFlu program was …read more […]

(Bloomberg) — Kelcy Warren, the Dallas billionaire known for controversial pipelines and aggressive dealmaking, is stepping down as chief executive officer of Energy Transfer LP. But if the move is anything like those of fellow moguls in the pipeline industry, he isn’t going far.The company late Thursday named Chief Operating Officer Mackie McCrea and Chief Financial Officer Tom Long as co-CEOs. Warren, 64, will stay on as executive chairman and remains the top investor. He’ll also retain a majority stake in the so-called general partner that controls Energy Transfer’s board.Warren appears to be following a playbook employed by his billionaire …read more […]

Ready, set, launch. After much anticipation, Apple (AAPL) announced that its iPhone 12 launch will take place virtually on October 13, with the phones becoming available for purchase in late October.Weighing in on the development for Wedbush, 5-star analyst Daniel Ives sees a spike around production and pent up demand for the lineup of iPhone 12 models (four new models are expected) set to be unveiled.This is especially apparent when it comes to AAPL’s Asian suppliers, which are anticipating major demand for the larger 6.7-inch model, “raising the overall iPhone 12 expectations heading into this ‘once in a decade’ potential …read more […]

It has been a blowout year for Nvidia (NVDA). The chip giant’s relentless forward march has been boosted by strong macro driven performances from its two main breadwinners – gaming and data center – and an increasing focus on rising secular trends, including autonomous vehicle technology and artificial intelligence (AI).It also completed the takeover of data specialist Mellanox and, pending regulatory approval, has the $40 billion acquisition of UK-based chip designer ARM lined up next.It is the latter’s anticipated addition, along with its implications on Nvidia’s growing AI opportunity, which has Needham analyst Rajvindra Gill laying out the bull case …read more […]

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A few weeks ago, War Room members jumped into Bausch Health Companies (NYSE: BHC). This morning shares jumped more than 12% when the company announced its expected upcoming revenues and earnings.
Here’s an excerpt from Dow Jones & Company:
Bausch Health Cos. said it expects reported revenue for the third quarter to be more than $2.1 billion, down about 3% from the comparable quarter a year ago. For the year, the company said it expects revenue “to be around the midpoint of” its current guidance ranges of $7.8 billion to $8 billion. It expects adjusted earnings before interest, taxes, depreciation and amortization …read more […]

On March 31, I took you behind the scenes of what I thought was the trade of the year.
Now I believe that it was actually the trade of the decade, if not the century.
Here’s how it played out…
On March 3, hedge fund manager Bill Ackman notified investors in his publicly traded investment vehicle Pershing Square Holdings (OTC: PSHZF) that he was extremely worried about COVID-19 creating an economic catastrophe.
More importantly, he told investors that he had placed a trade that would protect Pershing Square’s investments from this catastrophe and position him and his investors to profit.
Here’s exactly what he did…
In …read more […]