Trading Ideas

No Picture
Trading Ideas

Noble Corp. Files Bankruptcy to Erase $3.4 Billion of Debt

July 31, 2020 admin Comments Off on Noble Corp. Files Bankruptcy to Erase $3.4 Billion of Debt

(Bloomberg) — Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.The Chapter 11 filing in Texas would eliminate all of the company’s bond borrowings by swapping debt for equity, the company said in a statement. Noteholders agreed to invest $200 million of new capital through second-lien notes, and Noble has lined up a $675 million secured revolving credit facility backed by current lenders including JPMorgan Chase & Co.London-based Noble, one of the biggest owners of offshore rigs, …read more […]

No Picture
Trading Ideas

Oppenheimer: These 3 “Strong Buy” Stocks Have Over 50% Upside Potential

July 31, 2020 admin Comments Off on Oppenheimer: These 3 “Strong Buy” Stocks Have Over 50% Upside Potential

Despite COVID-19’s devastating impact on the economy, Oppenheimer’s Chief Investment Strategist John Stoltzfus remains overweight on U.S. equities, and is more bullish on cyclical sectors versus defensive sectors. As for the legitimate concerns about the virus’ re-emergence, Stolzfus argues investors should “consider the reopening setbacks as just that and not something that is permanent.” “In the past week along with legitimate concerns about the recent resurgences of Covid-19 stateside and abroad there was also a resurgence of the “life will never be the same” kind of worry creeping into the theme du jour. We don’t attribute much value to the …read more […]

No Picture
Trading Ideas

Merck to move COVID-19 treatment into large trials, sees sales recovering this year

July 31, 2020 admin Comments Off on Merck to move COVID-19 treatment into large trials, sees sales recovering this year

The U.S. drugmaker said two large trials of the oral antiviral being developed with Ridgeback Biotherapeutics would begin in September. Merck said it can manufacture “many millions of doses” of the drug before year end. Gilead Sciences Inc’s intravenous antiviral remdesivir is currently being widely used as a treatment for hospitalized COVID-19 patients. …read more […]

No Picture
Trading Ideas

Inovio Pharmaceuticals: COVID-19 Vaccine Not the Only Path to Success

July 31, 2020 admin Comments Off on Inovio Pharmaceuticals: COVID-19 Vaccine Not the Only Path to Success

After a market crushing performance during the first half of the year, one of 2020’s best performers has been struggling of late. The last month has seen shares of Inovio Pharmaceuticals (INO) decline by 27%. The publication of murky data for the biotech’s COVID-19 DNA vaccine candidate INO-4800 and a sense it is lagging behind competitors’ progress have raised concerns amongst investors. Add in an overheated valuation and maybe a sell off was inevitable.As a reminder, despite the souring sentiment, the stock is still up by a majestic 510% on a year-to-date basis.With the public and investors’ …read more […]

No Picture
Trading Ideas

Men’s Wearhouse Parent Said to Prepare Imminent Bankruptcy

July 31, 2020 admin Comments Off on Men’s Wearhouse Parent Said to Prepare Imminent Bankruptcy

(Bloomberg) — Tailored Brands Inc., the owner of Men’s Wearhouse and Jos. A. Bank, is preparing a bankruptcy filing that would shutter 400 to 500 stores after the coronavirus lockdown kept America’s office workers at home and stifled demand for new suits.The filing, which could come as soon as this weekend, will give the retailer a chance to cut its borrowings and close unprofitable locations, according to people familiar with the matter. The plan calls for asset-based lenders to provide the company with a loan to keep it operating through the court process, the people said. They asked not to …read more […]