Month: September 2020

(Bloomberg Opinion) — Gilead Pharmaceuticals Inc. has faced the same problem for years: The drugmaker has a strong core business in its world-leading HIV franchise, but it hasn’t been able to consistently grow beyond that base the way it should. Against that backdrop, you’d think a more aggressive M&A strategy would be cause for celebration. The devil, as always, is in the details.Gilead’s $21 billion purchase of New Jersey-based biotechnology firm Immunomedics Inc. and its promising breast cancer drug Trodelvy, announced Sunday afternoon, certainly qualifies as a bold move. At $88 a share, the acquisition represents a more than 100% …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Dan Henninger and Allysia Finley. Images: AP/AFP/Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: Biden and Harris hit Trump on the vaccine race. Image: AFP/Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: Mail-in voting creates a dangerous election morass. Image: U.S. Supreme Court/Franz Jantzen/Courtesy of Getty Images …read more […]

The deal provides Gilead access to Immunomedics’ breast cancer treatment drug, Trodelvy, which was granted an accelerated FDA approval in April. Gilead said it would issue a tender offer to buy all the outstanding shares of Immunomedics for $88 per share in cash. …read more […]

In a world dominated by a pandemic, you might wonder how its affecting the 10 biggest pharmaceutical companies in the world in 2020 (click to skip ahead and see the top 3 pharma companies). The pharmaceutical industry is a trillion dollar industry globally, achieving the milestone for the first time in 2014, and the biggest […] …read more […]

Shareholders of Tesla Inc. (NASDAQ: TSLA) approved a compensation plan for CEO Elon Musk back in 2018 that may complicate future inclusion in the S&P 500.What Happened: The Wall Street Journal recently reported that Tesla could be disqualified for a long time from S&P 500 inclusion as the accounting of Musk’s payday hurts the company’s profits. Tesla shares have fallen after not being included in the S&P 500. Why It’s Important: The 2018 compensation plan tied Musk’s earnings to the performance of Tesla’s financials and stock performance. Musk is eligible for twelve payments tied to the market capitalization, revenue, and …read more […]

September has been anything but kind to tech stocks. After hitting a record high at the beginning of the month, fears that tech valuations had climbed too high crept into investors’ minds. As a result, tech stocks have been feeling the heat, with the NASDAQ down 10% since September 2. The index currently sits at 10,853.55, following its fifth decline in six sessions. While September is traditionally a volatile month for Wall Street, the upcoming presidential election, ongoing pandemic and flaring U.S.-China tensions are also weighing on investors. However, analysts remind investors that beaten-down doesn’t mean out, arguing the …read more […]

President Donald Trump describes Democratic challenger Joe Biden as a “tool” of “radical socialists” who are bent on taxing every American business and household into bankruptcy. In reality, Biden has taken a relative consistent approach over five decades in politics and during his latest White House bid. The former senator and vice president backs an active federal government that he says should support but not constrict private enterprise, and he believes the highest federal tax burden should fall on the wealthiest. …read more […]

Benzinga took a look at high profile IPOs coming in the second half of 2020. Six of those 13 companies could price the week of September 14. Here is a look at the 12 companies expected to go public.Amwell: Alphabet Inc. (NASDAQ: GOOG) backed Amwell (NYSE: AMWL) plans to sell 35 million shares in a range of $14 to $16. Amwell is a leading telehealth company that is a rival to Teladoc Health (NYSE: TDOC), a company who has seen its stock rise more than 130% in 2020. As part of the $100 million investment from Google, Amwell will switch …read more […]

We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is… …read more […]

Apple is hosting a major product event on Sept. 15, where the company is expected to debut a new Apple Watch and iPad. …read more […]

The big shareholder groups in Tupperware Brands Corporation (NYSE:TUP) have power over the company. Large companies… …read more […]

Peloton Interactive, Inc. (NASDAQ:PTON) shareholders will have a reason to smile today, with the analysts making… …read more […]

(Bloomberg) — Turkey had its debt rating cut deeper into junk by Moody’s Investors Service, which warned of a possible balance-of-payments crisis in assigning the lowest grade it’s ever given to the country.The sovereign credit rating was cut to B2, five levels below investment grade and on par with Egypt, Jamaica and Rwanda. The company kept a negative outlook on the rating, saying fiscal metrics could deteriorate faster than currently expected.“Turkey’s external vulnerabilities are increasingly likely to crystallize in a balance-of-payments crisis,” London-based Moody’s analysts Sarah Carlson and Yves Lemay said in a report Friday.Moody’s, which last downgraded Turkey more …read more […]