The U.S. House of Representatives will pass Congress’ latest coronavirus aid bill on Thursday, House Speaker Nancy Pelosi said, paving the way for nearly $500 billion more in economic relief amid the pandemic.
White House economic adviser Larry Kudlow on Wednesday said the Trump administration would try to fairly distribute the next round of aid for small businesses hurt by the coronavirus outbreak, saying demand for the first round of funding was “overwhelming.”
Biogen (BIIB) has kicked off first quarter biotech earnings with a top- and bottom-line beat. However, the company surprised investors by announcing a significant delay to the aducanumab BLA (biologics license application) filing, which is now set for 3Q instead of early 2020. Aducanumab is a human monoclonal antibody designed to treat early Alzheimer’s disease.“Among the new disclosures are a pre-BLA meeting this summer and additional “formal interactions” with the FDA (such as Type C meetings); these were not previously communicated and may raise questions on how receptive FDA is to this BLA” comments JP Morgan analyst Cory Kasimov.As a …read more […]
Exelixis (NASDAQ:EXEL) shares have had a really impressive month, gaining 60%, after some slippage. And the full year… …read more […]
Brent crude oil rose on Wednesday after slumping below $16 a barrel to its lowest since 1999, supported by voluntary as well as the prospect of forced production cuts to tackle a glut caused by the coronavirus crisis.
The U.S. government is planning to fund domestic rare earths projects in an attempt to reduce its reliance on China, the global leader of the specialized sector.
I last wrote on the uranium market in February 2017, “Supernova Investing: Uranium”. Please start here for full background, before you go down the nuclear/uranium rabbit hole; https://ibankcoin.com/ The Unforgiving Impact Of Covid-19 Envelopment of the globe by COVID-19 has been swift, and unforgiving. Most markets, especially commodity markets (save gold), are beset by demand destruction […] …read more […]
The euro zone economy is already in its deepest recession on record, according to a Reuters poll of economists, who have stuck to a bleak outlook and worry the downturn might be even worse as coronavirus lockdowns across the bloc take their toll.
(Bloomberg) — AT&T Inc. posted a 4.5% drop in revenue from a year ago and withdrew its forecast of 2% revenue growth for the year, saying it can’t provide a financial forecast for 2020 due to the coronavirus pandemic.The Covid-19 crisis hurt earnings by 5 cents a share in the first quarter and knocked $600 million off of revenue due to lower ad sales from canceled sports events like the NCAA men’s basketball tournament. But the U.S. stay-at-home orders, which started in mid-March, did help improve some of AT&T’s slumping consumer businesses.Homebound customers craving videoconferencing and cellular connections helped boost …read more […]
Delta Air Lines Inc reported on Wednesday its first quarterly loss in eight years as the coronavirus crisis devastates air travel demand, but said its daily cash burn would slow through June as it braces for a recovery that could take two to three years.”We should be prepared for a choppy, sluggish recovery even after the virus is contained,” Chief Executive Ed Bastian said in an employee memo on Wednesday.
Oil recovered some ground on Wednesday after slumping below $16 a barrel to its lowest since 1999, but prices remained near two-decade lows with the market awash with crude due to the economic fallout from the coronavirus pandemic.
Kimberly-Clark Corp on Wednesday suspended its forecast for the year and said sales of tissue rose 13% in the first quarter as consumers stocked up in preparation for the coronavirus pandemic.
Trading worth billions of dollars has shifted to kitchen tables or bedrooms as traders work through the coronavirus crisis from home, testing patchy fixes to make sure they stick to the rules.
Canada’s Rogers Communications Inc on Wednesday pulled its 2020 forecast due to uncertain economic conditions as a result of the coronavirus outbreak.
Oilfield services provider Baker Hughes Co reported an 8% fall in first-quarter adjusted profit on Wednesday and booked over $16 billion in impairment and restructuring charges.
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