Year: 2020

Until yesterday, shares of CTI BioPharma (CTIC) had been firmly planted in the red in 2020. But sentiment can turn fast in the biotech world and the cancer drug maker provided investors with a dreamy week. The stock surged 135% over the past two trading sessions, after the FDA cleared the way for one of its treatment’s quick approval.Specifically, the company announced that after a pre-NDA meeting with the FDA, the agency has granted the biotech a rolling NDA submission for possible accelerated approval of pacritinib in thrombocytopenic myelofibrosis patients. The NDA submission should be completed by 1Q21.CTI managed to …read more […]

CNBC’s Jim Cramer has been bashing SPACs on Twitter and his show this week. That drew attention from the so-called SPAC King Chamath Palihapitiya.What Happened: Cramer recently highlighted Spartan Energy Acquisition (NYSE: SPAQ), a SPAC merging with Fisker. Cramer compared Henrik Fisker and his company to Nikola (NYSE: NKLA) and Trevor Milton, the Nikola founder who resigned.On Wednesday, Cramer told his 1.4 million Twitter followers “I am sick of SPACs!.” A simple response came from Palihapitiya:> Why?> > — Chamath Palihapitiya (@chamath) October 1, 2020Cramer’s Thoughts On SPACs: Cramer tweeted to “Squawk Box” host Andrew Ross Sorkin, “Why do investors …read more […]

The oil and gas sector has gotten crushed in 2020. And unlike much of the rest of the market, it has not rebounded from our brutal March crash.
Incredibly, the sector now trades below where it was in April, when the price of oil actually went negative for a stretch!
Here is the not-so-pretty picture of the Energy Select Sector SPDR Fund (NYSE: XLE) over the past three years…

This has the contrarian in me intrigued.
Given that oil is at $40 (and not below zero, like it was in April), a person might be inclined to think that share prices of energy companies …read more […]

Stock futures traded flat late Thursday as investors awaited the Labor Department’s September jobs report Friday morning, and considered dimming prospects for further fiscal stimulus in the near-term. …read more […]

Two key House of Representatives Democrats on Thursday urged the Federal Aviation Administration (FAA) to release all documents related to the government’s 18-month review of the grounded Boeing 737 MAX. Representatives Peter DeFazio, who chairs the House Transportation and Infrastructure Committee, and Rick Larsen, who heads an aviation subcommittee, said that the FAA should not give the plane the go-ahead to fly commercially again before it releases “system safety assessments, related analysis, assumptions about pilot response times and key test data concerning the safety of the aircraft.” Boeing declined to comment. …read more […]

MONTREAL, Oct. 1, 2020 /CNW/ – Turquoise Hill Resources Ltd. …read more […]

Morgan Stanley analyst Adam Jonas says Tesla’s sales in China could drop to nothing by 2030. …read more […]

Fed officials have said the specifics behind its new approach to targeting 2% inflation will not be a concern for a while, with the central bank committing to keeping rates near-zero for at least the next few years. …read more […]

Tesla Inc (NASDAQ: TSLA) has set in motion the plans to expand battery production and lower prices following its battery day event. This is already being seen in a price reduction of the Model 3 in China, along with a switch to new LFP batteries. Now it seems that customer traffic triggered by the price decrease could be overwhelming Tesla employees in China.> Wonder how crazy MIC Model 3 sales was on the first day of price cuts. According to a sales rep, all stores were flooded with new orders and store employees hardly had time for meals & communicating …read more […]

Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn. Oasis, which operates in the Bakken formation of North Dakota and Permian in Texas, announced the news on Wednesday. …read more […]

Airlines’ lack of bailout money has forced massive layoffs across the industry. Yahoo Finance’s Sibile Marcellus and Kristin Myers discuss. …read more […]

Since 2019, the healthcare sector has been bracing for the wild ride that would be the election year. However, according to some Street pros, 2021 is looking a lot like 2009, and this could actually be a good thing for the space.“[We] think 2021 will play out very similarly to 2009 for the health care sector. If in fact the political prediction markets are correct and Democrats seize control of the presidency and the U.S. Senate, the rhetoric on changes to health care policy exceeds the reality of what can be accomplished,” UBS healthcare strategist Eric Potoker noted.Potoker points out …read more […]

Expect the “biggest digital holiday season ever.” Also expect a lot of frustration from holiday customers, as deliveries get delayed. …read more […]

The much-hyped Nikola Badger electric pickup looks like an endangered species. It is absent from the electric truck startup’s road map of milestones, and a delayed manufacturing deal with General Motors Company (NYSE: GM) points to its demise before a physical prototype is ever revealed.The Badger was not in Nikola Corp. (NASDAQ: NKLA) business plan a year ago. And it isn’t there now. Founder Trevor Milton used it as a buzz-building tool for the company following the reveal of rival Tesla Inc. (NASDAQ: TSLA) Cybertruck, a polarizing design that the electric truck leader plans to build at a new plant …read more […]

The US Labor Department will release the September jobs report Friday morning at 8:30 a.m. ET. …read more […]