Month: April 2020

Gilead’s (GILD) remdesivir study in China for mild-moderate Covid-19 patients has just been suspended due to poor enrollment. The news comes as the pandemic continues to wane in China, and follows the recently announced termination of the study for severe Covid-19 patients for similar reasons.According to reports, the mild-moderate study had planned to enroll 308 patients from Wuhan- but it remains unclear exactly how many enrolled to date. The stock is currently down 3% in today’s trading, but is still up 16% year-to-date.For RBC Capital analyst Brian Abrahams this latest update is a worrying sign of the drug’s efficacy. He …read more […]

Warren Buffett’s Berkshire Hathaway Inc agreed to take Occidental Petroleum Corp common shares in lieu of a first quarter cash dividend, helping relieve the strain on the trouble oil giant’s balance sheet. The sale would bring in less than $250 million at Occidental’s current price. Occidental’s market value is about $12.24 billion, a fraction of what it paid for Anadarko. …read more […]

Megan Horneman, Director of Portfolio Strategy at Verdence Capital Advisors, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss how the markets are responding to the coronavirus outbreak. …read more […]

QUALCOMM Incorporated (NASDAQ:QCOM) led the NASDAQGS gainers with a relatively large price hike in the past couple of… …read more […]

(Bloomberg) — Bank of America Corp. followed two big rivals in setting aside billions of dollars for loans likely to sour amid an almost total U.S. economic shutdown.Profit plunged 45% as the company allocated $4.76 billion for loan losses, the most since 2010, as businesses and households reel from the coronavirus pandemic. The bank joins competitors JPMorgan Chase & Co. and Wells Fargo & Co., which posted their highest provisions in a decade Tuesday. Citigroup Inc. made a similar move Wednesday.Banks are trying to get ahead of loan losses they expect to come from the pandemic bringing large swaths of …read more […]

Earnings season kicks off this week, and market watchers are preparing for the worst. The upcoming release of first quarter financial results is marred by historic levels of uncertainty, with worry looming over Wall Street as investors await a more detailed look at the extent of COVID-19’s impact on profits.For those feeling lost in all of the stock market fog, investing gurus can offer a sense of clarity. No one more so than billionaire David Shaw, a former computer science professor at Columbia University. Since founding his investment firm, D.E. Shaw group, in a small New York City bookstore in …read more […]

If you’re interested in NeuroMetrix, Inc. (NASDAQ:NURO), then you might want to consider its beta (a measure of share… …read more […]

The novel coronavirus outbreak has temporarily shuttered businesses around the globe, put millions out of work in the United States alone and is expected to cause the deepest recession in recent memory. Citigroup, the most global of the U.S. banks, recorded a $4.89 billion expense to increase its reserves against anticipated losses on loans, primarily from its credit cards because of the rising unemployment. Lenders with more exposure to unsecured loans like credit cards are more susceptible to hefty writedowns, as credit card delinquencies have historically risen in lockstep with unemployment. …read more […]

March retail sales data revealed the damage being done to the U.S. consumer amid the COVID-19 pandemic …read more […]

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The Oxford Club’s Chief Income Strategist, Marc Lichtenfeld discusses the 2020 tax extension deadline. What it means for you, when you should file and more.

2020 Tax Extension Deadline is July 15th
The IRS has extended the deadline for when you need to file your taxes to July 15th (instead of April 15th) due to the coronavirus.

So What Does That Mean For Me?
Well I think there are two main things. First of all, your IRA contributions or your tax deferred contributions. Most people typically will contribute to their tax deferred accounts by April 15th, because you can take that deduction on the …read more […]