The chief executive of easyJet said when flying restarts after the coronavirus crisis recedes planes are likely to operate with the middle seat empty due to social distancing regulations.
Moderna Inc (MRNA) has hosted a virtual Vaccines Day- following which four analysts reiterated their buy ratings on the stock. Roth Capital’s Yasmeen Rahimi also boosted her MRNA price target from $33 to $41. This wave of bullish sentiment sent shares soaring over 7% in Wednesday’s trading.At the event company management and infectious disease key opinion leaders discussed scientific, regulatory, and commercial considerations with respect to Moderna’s vaccine programs and the vaccine space more broadly.“Not surprisingly, SARS-CoV-2, the virus behind the Covid-19 outbreak featured prominently, with discussions of the virus itself, Moderna’s clinical plan (now enrolling the highest [250 µg] …read more […]
Shares of cancer therapy researcher Arcus Biosciences (RCUS) traded up over 50% in after-hours trading on Wednesday following a Bloomberg report indicating that Gilead Sciences (GILD) is considering acquiring a stake in the company.Arcus, which is partly backed by GV, Alphabet’s (GOOGL) venture capital investment unit, had previously dropped 7% in Wednesday’s trading.RCUS has a number of I/O [immuno-oncology] clinical assets, with AB154 (anti-TIGIT) receiving considerable attention following the advancement of a competitor candidate (Roche’s tiragolumab) into Phase III studies earlier this year.According to Mizuho Securities analyst Mara Goldstein such a move would make sense for Gilead. According to the …read more […]
Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) first-quarter net profit almost doubled, beating analyst estimates, as strong demand for faster chips helped offset disruptions caused by the coronavirus pandemic. The world’s largest contract chipmaker, whose clients include tech companies such as iPhone maker Apple Inc, said profit in the January-to-March period was T$116.987 billion ($3.89 billion), up 90.6% from a year earlier. Buoyed by demand for advanced chips from clients investing in 5G technology and artificial intelligence, TSMC’s revenue rose 45.2% to $10.31 billion, versus its forecast range of $10.2 billion to $10.3 billion. …read more […]
Asia’s stock markets retreated from their highest levels for a month and the dollar extended gains on Thursday as the damage the coronavirus has wrought on the world economy soured appetite for risk.
Lazard Ltd has bolstered its senior restructuring team as it seeks to win business from companies struggling to stay afloat in the midst of the economic turbulence caused by the global coronavirus pandemic.
Oil edged higher on Thursday following sharp losses in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
Man GLG, the discretionary investment arm of asset manager Man Group , has hired Andrew Swan from rival BlackRock to lead its Asia ex-Japan equities business, it said on Thursday.
Millions more Americans likely sought unemployment benefits last week, lifting total filings for claims over the past month above an astounding 20 million, which would underscore the deepening economic slump caused by the novel coronavirus outbreak.
A flight to safety bid pushed the dollar higher against its peers on Thursday after dire retail and factory data showed the severity of the collapse in U.S. economic activity caused by the novel coronavirus outbreak.
(Bloomberg) — The Kremlin may have succeeded in ending its oil war with Saudi Arabia, yet the pain of crude’s crash is only just starting to hit Russia’s budget.Next month, the nation’s coffers will get less than $1 for each exported barrel of oil, according to Bloomberg calculations based on the data from the Russian Finance Ministry. Oil export duty in May is set to tumble by 87%, compared to April, reflecting crude’s biggest crash in a generation.“This duty level is the lowest since 2002 when the new export duty mechanism was introduced,” a representative from Russia’s Finance Ministry told …read more […]
(Bloomberg) — Lim Hock Chee and his wife used to sell chilled pork at a rented stall in a grocery store.Now, after more than 35 years, his family operates 61 supermarkets across Singapore and has joined the ranks of billionaires.Shares of their Sheng Siong Group Ltd., which competes with Amazon.com Inc. in the city-state, rose to a record Wednesday as supermarkets have become the preferred place to shop after the government imposed a partial lockdown to contain the coronavirus pandemic. The stock has rallied more than 30% since a March 19 closing low.The family’s combined fortune, based on their 57% …read more […]
United Airlines Holdings Inc said on Wednesday that it has cut its flight schedule by 90% in May and expects similar cuts for June as a result of the coronavirus pandemic, and warned that travel demand that is now “essentially at zero shows no sign of improving in the near term,” making job cuts likely.
The memo was from Chief Executive Oscar Munoz and President Scott Kirby. Like other U.S. airlines, travel demand for Chicago-based United has cratered as most U.S. states have ordered residents to stay at home in order to contain spread of the coronavirus. United said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019. …read more […]
World stock markets fell on Thursday, while bonds and the dollar held on to hefty gains, after a coronavirus-driven plunge in U.S. retail sales and factory production and increasing gloomy economic outlooks for Asia.
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