The U.S. stock market has rebounded swiftly despite a raft of terrible economic news, driven by a massive boost from the Federal Reserve, hopes of a successful reopening of the economy and possible coronavirus treatments, as well as investors’ fear-of-missing-out. But not everyone is buying the bounce.
Investors and analysts have turned more positive. Goldman Sachs last week said the unprecedented monetary and fiscal policy actions by the Fed and Congress had “precluded the prospect of a complete economic collapse,” meaning its previous near-term downside forecast for the S&P of 2000 was no longer likely. …read more […]
Coronavirus-related developments will continue to remain top of mind for investors in a busy week ahead. …read more […]
ONEOK (NYSE:OKE) shareholders are no doubt pleased to see that the share price has bounced 42% in the last month… …read more […]
Amazon will keep its six warehouses in France closed until at least April 22 after a stand-off with unions over sanitary conditions amid the coronavirus outbreak, it said on Sunday.
The cannabis sector got a big boost in the last few weeks as governments around Canada and the U.S. confirmed most cannabis stores as essential. While most stores are closing outside of grocery stores, cannabis dispensaries were deemed essential due to their medical cannabis component.Despite early indications of strong demand for cannabis, most of the stocks trade near the recent multi-year lows due to fears the coronavirus outbreak eventually does damage demand. Already, some states are seeing the initial surges in demand wane as businesses were deemed essential, thereby reducing the need to rush into stores during this crisis. Consumers …read more […]
Lowe’s Companies (NYSE:LOW) shareholders are no doubt pleased to see that the share price has bounced 39% in the last… …read more […]
Global biotech company Incyte (INCY) announced on Friday that it has initiated a Phase 3 clinical trial in collaboration with Novartis (NVS) to test the potential of its Jakavi drug in patients infected with the coronavirus-caused COVID-19.Jakavi is used in adults with bone marrow cancer, or myelofibrosis, among other conditions. Incyte and Novartis seek to evaluate if the drug helps COVID-19 patients suffering from an immune system overreaction, also called a cytokine storm, which could result in complications like pneumonia or acute respiratory distress syndrome. The Phase 3 study will compromise about 400 patients globally. The collaborative study will be …read more […]
As plans emerge to reopen parts of the U.S. economy, a new WSJ/NBC News poll shows the majority of Americans think it will be a long time before the economy can return to normal. WSJ’s Gerald F. Seib explains. Photo: G. Ronald Lopez/ZUMA Wire …read more […]
Baidu, Inc. (NASDAQ:BIDU) shareholders should be happy to see the share price up 18% in the last month. But that… …read more […]
With a large number of companies hoping to bring a viable COVID-19 test to market, how does one differentiate itself? A nod from the FDA helps.Last week, Chembio Diagnostics’ (CEMI) DPP (Dual Path Platform) COVID-19 serology test was granted emergency use authorization (EUA) by the FDA. The company’s potential to deliver a reliable test has driven impressive gains for the stock in 2020; Chembio’s share price has appreciated by a massive 166% year-to-date.Accordingly, Canaccord Genuity’s Max Masucci reiterated a Buy recommendation on Chembio and bumped up the price target – lifting it from $10 to $12. With CEMI having added …read more […]
CVS Health Corporation (NYSE:CVS) is about to trade ex-dividend in the next 2 days. If you purchase the stock on or… …read more […]
Quibi CEO Meg Whitman called on tech giants and their leaders to recognize the “big responsibility” to the public that comes with the economic power they command and the central role they play in the everyday lives of Americans. …read more […]
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