Year: 2020

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Trading Ideas

CymaBay (CBAY) Stock Is up 127% in a Day. How Much Higher Can It Go?

May 13, 2020 admin Comments Off on CymaBay (CBAY) Stock Is up 127% in a Day. How Much Higher Can It Go?

Six months ago, disturbing liver biopsies suggesting some patients in an FDA Phase 2b study of CymaBay Therapeutics (CBAY) suffered inflamed and destroyed liver cells forced the company to suspend nonalcoholic steatohepatitis (NASH) treatment trials of its seladelpar liver treatment drug — and cost CymaBay stock 75% of its market cap. Six months later, a new study just showed no evidence that seladelpar causes liver damage, giving CymaBay the all-clear to proceed with its trials, and more than doubling the stock’s share price on Tuesday.Analysts rushed to hail the results, and as of today, every one of the six analysts …read more […]

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Business News

Mitsubishi slashes SpaceJet budget, drops variant

May 13, 2020 admin Comments Off on Mitsubishi slashes SpaceJet budget, drops variant

Mitsubishi Heavy Industries (MHI) said it was more than halving the annual development budget for its SpaceJet regional jet as the coronavirus pandemic squeezes profit, and will suspend plans for a possible variant seen as key to winning future orders, particularly from U.S. airlines.

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Tencent Grinds Out Profits Increase Despite Coronavirus Headwinds

May 13, 2020 admin Comments Off on Tencent Grinds Out Profits Increase Despite Coronavirus Headwinds

Chinese social media, entertainment and games giant Tencent managed a 6% increase in profits in the first quarter of the year – a period which contained two months of coronavirus-induced turmoil. The powerhouse company on Wednesday reported revenues increased by 26% year on year to $15.3 billion (RMB108 billion), and net profits up to $4.15 […] …read more […]

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Ghost of 1992 Italy Devaluation Returns to Haunt Euro Unity Aims

May 13, 2020 admin Comments Off on Ghost of 1992 Italy Devaluation Returns to Haunt Euro Unity Aims

(Bloomberg) — On the September night in 1992 when George Soros famously broke the Bank of England, it wasn’t just the British pound that crashed. The Italian lira cratered too, the last of its numerous 20th century devaluations.One veteran who is still at the Finance Ministry in Rome recalls a colleague researching “bankruptcy” and “failed state” amid the chaos as resentment swelled at the indifference of European allies, notably Germany.Those memories of market mayhem re-emerged along with the old fault lines following the economic shock of the coronavirus lockdowns. Italy did make it to the monetary mainstream, becoming a founding …read more […]

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Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets

May 13, 2020 admin Comments Off on Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets

Boeing Co (BA) said that it did not receive a single order in April, while it was also grappling with 108 order cancelations for its grounded 737 MAX plane.Last month, the ailing plane maker delivered 6 planes adding up to a total of 56 in first four months of this year, which represents a 67% decline year-on-year, as air travel demand has been halted in an effort to contain the coronavirus pandemic.The planemaker’s stock dropped 2.7% to $125.22 in U.S. trading on Tuesday, taking its year-to-date plunge to more than 60%.The April cancellations of its 737 MAX jets were from …read more […]