Year: 2020

The U.S. health regulator’s approval on Thursday for its use in hospitalized patients came despite the World Health Organization last week saying the drug did not have a substantial effect on patients’ length of hospital stay or chances of survival in a global trial. The U.S. Food and Drug Administration’s (FDA) backing signals its confidence in Gilead’s U.S.-based study results, which showed the drug was able to cut time to recovery in patients, Piper Sandler analyst Tyler Van Buren said in a client note. Remdesivir has been available under an FDA emergency use authorization since May, after a …read more […]

Adobe Inc. (NASDAQ:ADBE) saw a double-digit share price rise of over 10% in the past couple of months on the NASDAQGS… …read more […]

Align Technology, Inc. (NASDAQ:ALGN) led the NASDAQGS gainers with a relatively large price hike in the past couple of… …read more […]

(Bloomberg) — T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of Ant Group Co.’s blockbuster initial public offering, a person familiar with the matter said.Each of the firms is considering investments worth several billion dollars in Ant’s Hong Kong-listed shares, though they’ve yet to finalize plans and there’s no guarantee they’ll get an allocation, the person said, asking not to be identified discussing private information.Ant is expected to start taking orders for the Hong Kong portion of its dual listing on Oct. 26 …read more […]

(Bloomberg) — The U.S. Food and Drug Administration approved Gilead Sciences Inc.’s antiviral therapy remdesivir on Thursday, making it the first drug to obtain formal clearance for treating the coronavirus.Regulators had granted an emergency-use authorization for remdesivir earlier this year, and since then the drug has become a widely used therapy in hospitalized Covid-19 patients. It was given to President Donald Trump this month when he was diagnosed with the virus.The approval of remdesivir, sold under the brand name Veklury, will allow Gilead to market the drug and talk about its benefits to doctors, nurses, and patients. That could help …read more […]

If you love investing in stocks you’re bound to buy some losers. Long term HSBC Holdings plc (LON:HSBA) shareholders… …read more […]

(Bloomberg) — European stocks opened higher on positive earnings news as traders awaited key manufacturing data for the euro zone. The dollar steadied.Carmaker shares rose in Europe after Germany’s Daimler AG boosted its full-year profit forecast, while bank stocks were buoyed by Barclays Plc’s earnings beat. Swiss elevator maker Schindler Holding AG jumped after boosting its forecast. That left the Stoxx Europe 600 Index headed for its first gain of the week.The euro fell before October’s flash purchasing-managers’ gauges, which are forecast to show weakness in the service and manufacturing sectors. U.S. futures slipped as investors watched prospects fade further …read more […]

(Bloomberg) — Barclays Plc’s traders had another strong quarter as pandemic-driven market volatility persisted.The London-based bank’s securities division reported a 23% jump in foreign-exchange, rates and credit trading income in the third quarter, helping the company beat earnings estimates. Equity trading jumped 40%. Barclays also posted lower-than-expected impairments from the virus crisis.“The economic forecast is more moderate than we would have thought a couple of months ago,” and Britain’s mortgage market is “surprisingly robust,” Chief Executive Officer Jes Staley said Friday in a Bloomberg Television interview. “Capital markets globally will increasingly take a greater share of the financing of economic …read more […]

Two of Apple’s latest iPhone 12 models went on sale in China on Friday, after early pre-order data showed strong consumer interest in the 5G-enabled device in the firm’s second-largest market. The short queues outside Apple stores in the business hub of Shanghai struck a contrast with the crowds that flocked to past launch events, as most ordering has now shifted online. “I feel great being the first customer to get the new iPhone,” said Yan Bingqing, 30, who arrived before the store opened, and was in a line of about 20 people. …read more […]

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(Bloomberg) — Renault SA reported third-quarter revenue that beat estimates, partly fueled by a surge in sales of its popular electric model that the carmaker said will allow it to meet European emissions rules.Although revenue fell 8.2% to 10.37 billion euros ($12.2 billion) in a period still marked by the pandemic, it surpassed the 9.96 billion-euro average of estimates compiled by Bloomberg. The French manufacturer sold fewer passenger cars and trucks in the quarter, but sales of the battery-powered Zoe more than doubled, Renault said Friday.The global health crisis has added to pressure on the carmaker, which was already suffering …read more […]

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PayPal Holdings Inc (NASDAQ: PYPL) is in talks with digital asset custodian BitGo for an acquisition deal, according to Bloomberg.What Happened: A deal could be reached within weeks but discussions are still in the early stages, people familiar with the matter told Bloomberg. PayPal might consider other potential targets if the negotiations fall apart.BitGo, a California-based digital assets custodian, offers multi-signature wallet services. Multiple signatures generated from unique private keys are needed for routing transactions through such wallets.The terms of the deal are unknown. BitGo was last valued at $170 million in a 2018 funding round, according to Pitchbook data …read more […]

(Bloomberg) — Automakers are investing billions of dollars to bring new electric vehicles to consumers in the U.S. and other global markets, but their success hinges on securing the most critical and expensive component: the battery.A handful of companies based in China, Japan and South Korea make automotive-grade battery cells, which has upset the traditional dynamic between carmakers and parts suppliers. These battery giants — though little known to the general public and relatively new to the auto industry’s sprawling supply chain — are key to manufacturers’ goals of bringing dozens of new EV models to U.S. showrooms by 2025.“There …read more […]

(Bloomberg) — Uber Technologies Inc. and Lyft Inc. face the gravest threat yet to their business models after an appeals court ruled they must treat their drivers in California as employees instead of independent contractors.The bombshell decision Thursday comes less than two weeks before an election in which the ride-hailing companies are counting on voters to approve a ballot measure that would partially exempt them from the labor law at issue in the legal fight. If the vote doesn’t go their way, Uber and Lyft are threatening to shut down in their home state.The ruling upheld a lower court’s order …read more […]