Month: June 2020

The date of Fannie Mae‘s conservatorship release has long been a topic of interest, and it’s become even more so of interest as the date approaches. Experts debate how much of an impact the coronavirus pandemic had on the date when Fannie Mae and Freddie Mac will be released from conservatorship. Moving toward Fannie Mae, Freddie […] …read more […]

Shares in Emergent BioSolutions Inc. (EBS) dropped 14% in Friday’s after-hours trading following the disclosure of two of its directors divesting shares.According to a SEC filing, Emergent Director Ronald Richard sold 6,572 shares on Wednesday at an average price of $87.514, for a total of about $575,142. Following the share sale Richard owns 4,269 shares. The stock rose 2.5% to $86.91 on Friday before dropping to $75 in post-market trading.In addition, Director Sue Bailey divested 5,322 shares at an average price of $87.503, generating about $465,691 from the sale. Bailey now still has 37,260 shares in the company.Earlier this month, …read more […]

On Monday, June 1, 2020, Tesla Inc. (NASDAQ:TSLA)‘s stock price rose $63.10 to close at $898.10. Given that Tesla has 185.37 million shares outstanding, this jump in price represented an increase in market capitalization of $11.7 billion. To provide perspective, that number equals approximately 50% of Ford’s market capitalization. That leads one to suspect there must […] …read more […]

The healthcare sector has held up strong amid the global pandemic, yet not all names have escaped COVID-19’s grasp. For several companies inhabiting the space, historically low levels of utilization for both traditional procedures and services as a result of COVID-19 and the expected mass consumption after restrictions are loosened have presented significant headwinds. It doesn’t help that unemployment also poses risks. Against this backdrop, investment firm Goldman Sachs took a deep dive into the space, hoping to get a better sense of where healthcare stocks stand during these unprecedented times. Given the uncertainty still hanging in the balance, …read more […]

(Bloomberg) — Libya’s biggest oilfield is gradually resuming production after a five-month shutdown as regional powers push to end the country’s civil war.The restart of the Sharara field in the southwest comes after a valve on a pipeline running to the port of Zawiya was opened on Friday, according to Ali El-Zeeb, the commander of the petroleum-facilities guards aligned with Libya’s internationally recognized government. Sharara was producing around 300,000 barrels a day before it shut in mid-January amid an offensive by Khalifa Haftar, who leads a rival military force based in the country’s east.The field’s resumption follows setbacks in recent …read more […]

AstraZeneca contacted Gilead last month and it did not provide the terms of any transaction, the report https://bloom.bg/3h2GU9e added. A spokeswoman for AstraZeneca said the company does comment on rumours or speculation. Gilead did not immediately respond to a request for comment. …read more […]

(Bloomberg) — Dubai shares climbed the most in the Gulf on after OPEC+ agreed to a one-month extension of its record output cuts, underpinning the recovery in oil prices.The DFM General Index rose as much as 3.0%, trimming losses this year to 24%. Gauges in Saudi Arabia, Abu Dhabi, Kuwait, Oman and Qatar gained between 0.2% and 1.6%.Major oil producers decided at the weekend on a production-curb extension as well as a stricter approach to ensuring OPEC members don’t break their pledges. Brent crude rose 19% last week in anticipation of the meeting, in the sixth consecutive weekly advance, with …read more […]

World Bank President David Malpass says billions of people will have their livelihoods affected. …read more […]

The U.S. District Court for the District of New Jersey has ruled in favor of Teva Pharmaceutical Industries Ltd. (TEVA) in a patent infringement lawsuit regarding a generic version of Narcan nasal spray for the treatment of opioid overdose.Claims from four patents related to Narcan were found to be invalid, according to the ruling by a New Jersey federal judge. The lawsuit, filed by Opiant Pharmaceuticals Inc. (OPNT) and Emergent BioSolutions Inc. (EBS) alleged that Teva’s generic version of Narcan nasal spray infringes the drug’s patent.In reaction to the decision, Opiant said that its commercial partner Emergent BioSolutions, intends to …read more […]

(Bloomberg Opinion) — Saudi Arabia called out the cheats at yesterday’s OPEC meeting — the countries that hadn’t fully reduced oil output in May as agreed — and extracted promises that they would compensate with even deeper reductions in the third quarter. Now the kingdom faces the group’s perennial problem of enforcing those promises.The meetings of the Organization of Petroleum Exporting Countries and the bigger OPEC+ group, which includes Russia and nine other countries, were the shortest and least controversial since the latter collective was formed in 2016. It’s not that there was no drama; it just all took place …read more […]

Mexico will not join other top oil producers in extending through July output cuts aimed at propping up the price of crude, Energy Minister Rocio Nahle said on Saturday. Made up of OPEC members and allies led by Russia, the group known as OPEC+ agreed in April to cut oil supply by 9.7 million barrels per day (bpd) in May and June to support prices. Under that deal, Mexico pledged to reduce its crude output by 100,000 bpd in May and June, after resisting pressure from other oil producers to make cuts of 400,000 bpd. …read more […]