Year: 2020

Gilead Sciences (GILD) is nearing a deal to buy biotech Immunomedics Inc for more than $20 billion, says the Wall Street Journal, which cites people familiar with the matter.Immunomedics (IMMU) currently has a market value of just $9.77B, which means that GILD would be paying a significant premium in order to obtain IMMU’s key breast-cancer drug, Trodelvy. Shares in IMMU have already doubled year-to-date, with a 37% leap over the last three months.In August, Immunomedics reported that Trodelvy generated $20.1M in its first two months on the market. Furthermore, market research conducted by the company showed that >80% of oncologists …read more […]

Two senior Boeing Co executives who oversaw the development of the 737 MAX defended the company’s decisions on a key cockpit system later tied to two fatal crashes, according to testimony before congressional investigators seen by Reuters. Michael Teal, then 737 MAX chief product engineer, and Keith Leverkuhn, who was vice president and general manager of the 737 MAX program, were questioned separately by investigators for the U.S. House Transportation and Infrastructure Committee in May. “I don’t consider the development of the airplane to be a failure,” Leverkuhn told investigators for the House panel that is to …read more […]

It’s a particularly busy week ahead. Monetary policy, geopolitics, and economic data will influence the majors and risk sentiment in the week. …read more […]

(Bloomberg) — It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets.Instead, the Organization of Petroleum Exporting Countries and its allies will convene online, and reflect on whether the coranavirus has thwarted their best efforts to keep the market afloat.After reviving crude prices from an unprecedented collapse over the spring, OPEC+ is seeing the recovery stall and fuel demand falter as the deadly pandemic surges once again. Prices slipped below $40 a barrel last week for the first time since June.On Thursday, Saudi …read more […]

(Bloomberg) — The pandemic has set off a wave of theft in the Philippines. The target? Plants.The government has stepped up monitoring of social media and patrolling of protected natural areas amid reports of traders scouring mountains and forests for plants, including endangered species, to meet a sudden spike in demand from locked-down Filipinos who are craving some greenery in their homes.“Illegal gatherers and collectors are having a fiesta because the market is bigger and prices are more attractive,” said Rogelio Demallete, an ecosystem specialist at the nation’s Biodiversity Management Bureau. “People are buying and raising plants because of boredom …read more […]

Gilead Sciences Inc. (NASDAQ: GILD) is gearing up to purchase drug innovator Immunomedics Inc. (NASDAQ: IMMU) for a price tag exceeding $20 billion.Per the Wall Street Journal, Immunomedics — a biotech known for breast-cancer treatment Trodelvy — was initially a partner of Gilead before takeover talks began. Terms are expected to be announced Monday. Immunomedics, whose valuation hovers $10 billion, is just the latest in a series of deals Gilead made in 2020.In June, Foster City, California-based Gilead acquired a 49.9% stake in cancer drug developer Pionyr Immunotherapeutics for $275 million. Before that, it spent $4.9 billion for Forty Seven …read more […]

U.S mortgage rates hit fresh lows. Mixed sentiment towards the economic recovery and the tech sector rout weighed in the week. …read more […]

A deal for Immunomedics, whose cancer therapy Trodelvy is FDA-approved as a third-line treatment for an aggressive type of breast cancer called Metastatic Triple-Negative Breast Cancer, could be announced Monday if not sooner, the Journal said https://www.wsj.com/articles/gilead-nears-deal-to-buy-immunomedics-for-more-than-20-billion-11599936777?mod=hp_lead_pos2, citing people familiar with the matter. Discussions between Gilead and Immunomedics were initially centered around a partnership before shifting to a full-fledged takeover negotiation, the Journal added. …read more […]

SoftBank Group Corp. may announce the sale of British chip designer Arm Holdings to Nvidia Corp. (NASDAQ: NVDA) in a cash-and-stock transaction valued at more than $40 billion as early as next week.That’s according to the Wall Street Journal, citing sources familiar with the deal.The sale process, first reported by Bloomberg in July, comes just four years after SoftBank bought Arm Holdings for $32 billion.Arm, known for designing microprocessors found in smartphones, has been in exclusive talks with Nvidia for several weeks, the report continued.Nvidia’s chips are used to power high-tech devices as well.If the transaction is official, it would …read more […]

Andrew Bary and Avi Salzman’s “Retail Investors Are Fueling the Nasdaq’s Wild Ride” points out how heavy buying of call options on stocks like Apple Inc (NASDAQ: AAPL) and Tesla Inc (NASDAQ: TSLA) are having a big impact.In “The Pandemic Helped Crocs Kickstart Growth. Why the Stock Could Double,” Teresa Rivas shows how Crocs, Inc. (NASDAQ: CROX) is capitalizing on its renewed popularity with more styles, clever marketing and a growing e-commerce effort.See why Barron’s believes Elanco Animal Health Inc (NYSE: ELAN) has a good opportunity to change the trajectory of its stock performance in “Animal Spirits for Elanco? Pet-Care …read more […]

AstraZeneca plc (NYSE: AZN) can heave a sigh of relief following resumption of its coronavirus vaccine study that was voluntarily paused by the company.What Happened: The U.K. pharma giant said U.K. regulatory agency, the Medicines Health Regulatory Authority (MHRA) has given its concurrence to resume the late-stage study of AZD1222 — the vaccine candidate it is jointly developing with the Oxford University against SARS-CoV-2.Following a standard review process, AstraZeneca paused all global trials on Sept. 6 after an unidentified illness was reported in one of the trial participants. The company later clarified that the person was a …read more […]

* Benzinga has examined the prospects for many investor favorite stocks over the past week. * This past week’s bullish calls included semiconductor and ride-sharing leaders. * Recent stock-splitters and an oil supermajor were among last week’s bearish calls.The big U.S. indexes ended another volatile week in the red, led by a 4% retreat in the Nasdaq. Investors have their eyes on moves by the Oracle of Omaha and the upcoming iPhone launch. The week also saw a notable CEO turnover and a retailer on the brink possibly saved, even while the e-commerce colossus further expands its …read more […]

Two weeks ago, we asked Wealthy Retirement readers for a very special favor…
We asked you to share your story – including how Wealthy Retirement has helped you move closer toward your retirement goals and how we can continue to support you.
Madeline S. appreciates Chief Income Strategist Marc Lichtenfeld’s advice and wrote…
Simple easy to understand writing that demystifies and explains financial instruments and strategies.
As a medical professional… I strive to make [information] simple and accessible even to folks with English as a second language, so I very much appreciate financial writers doing the same for me, and Marc definitely does this …read more […]

Two weeks ago, we asked Wealthy Retirement readers for a very special favor…
We asked you to share your story – including how Wealthy Retirement has helped you move closer toward your retirement goals and how we can continue to support you.
Madeline S. appreciates Chief Income Strategist Marc Lichtenfeld’s advice and wrote…
Simple easy to understand writing that demystifies and explains financial instruments and strategies.
As a medical professional… I strive to make [information] simple and accessible even to folks with English as a second language, so I very much appreciate financial writers doing the same for me, and Marc definitely does this …read more […]

Two weeks ago, we asked Wealthy Retirement readers for a very special favor…
We asked you to share your story – including how Wealthy Retirement has helped you move closer toward your retirement goals and how we can continue to support you.
Madeline S. appreciates Chief Income Strategist Marc Lichtenfeld’s advice and wrote…
Simple easy to understand writing that demystifies and explains financial instruments and strategies.
As a medical professional… I strive to make [information] simple and accessible even to folks with English as a second language, so I very much appreciate financial writers doing the same for me, and Marc definitely does this …read more […]