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Trading Ideas

UPDATE 1-Sanofi pulls Zantac from U.S. and Canada after carcinogen found

Sanofi SA said on Friday it would recall popular heartburn medicine Zantac in the United States and Canada, after the medicines were linked with a probable cancer-causing impurity. The French drugmaker said it was working with health authorities to determine the level and extent of the recall, which it called a precautionary measure being taken due to possible contamination with a substance called N-nitrosodimethylamine (NDMA). U.S. and European health regulators said last month they were reviewing the safety of ranitidine, which is commonly sold as Zantac and its generic alternatives, after an online pharmacy called Valisure notified them …read more […]

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Trading Ideas

A Technical Turnaround Play (WBA, UTX)

WBA is a technical turnaround play as the shares have fallen from $86 in December to an August low of $49. Since the beginning of April, following most of the price damage, the stock has traded sideways as downside momentum has abated. An attempted breakout in September on a big pickup in volume failed as it closed a gap and approached the 200-day average (currently $57). WBA then pulled back to its 50-day and bullishly held. Since October 9, the stock has rebounded once again. If it can clear its 200-day and the recent high at $58, the shares have …read more […]

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Trading Ideas

UPDATE 1-Former Hercules Capital CEO to plead guilty to U.S. college admissions scam

A former chief executive of specialty finance lender Hercules Capital Inc has agreed to plead guilty to participating in what authorities say is the largest college admissions scam uncovered in the United States, prosecutors said on Friday. Federal prosecutors in Boston say Manuel Henriquez engaged in a college entrance exam cheating scheme and conspired to bribe a tennis coach to secure the admission of one of his daughters to Georgetown University as a fake athletic recruit. Lawyers for Henriquez, Hercules Capital’s founder, did not immediately respond to requests for comment. …read more […]

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Business News

Take Five: Super Saturday, Super Mario

Britain may be about to draw a line under almost 3-1/2 years of political chaos, economic uncertainty and tortuous discussions with the European Union over the terms of its exit from the bloc. If the UK parliament gives its nod to the divorce deal Prime Minister Johnson has secured — unlikely but possible — we might well see sterling rally more than 5%; shares in domestic-focused British companies might rocket to record highs.

…read more […]

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Trading Ideas

Exclusive: Lampert helps bankroll Sears as woes persist after bankruptcy – sources

The new financing will help stock Sears’ store shelves for the holiday shopping season, as it struggles to become profitable. Lampert is no stranger to bankrolling Sears, having extended loans through his hedge fund ESL Investments Inc to the department store chain over the past decade until its financial collapse last year. The new financing is backed by assets that include Sears’ real estate and intellectual property, the sources said. …read more […]