Trading Ideas

(Bloomberg) — Oil rose past $36 a barrel as investors eyed a potential extension of record production curbs by OPEC+ while physical markets continued to show signs of tightness.Futures in New York rose around 2.8%. Saudi Arabia favors keeping the curbs — which are set to start easing from July — in place for an extra one to three months, a delegate said. Any changes to the deal between the Organization of Petroleum Exporting Countries and allies will hinge on negotiations between Moscow and Riyadh, with Russia expected to make a decision on its OPEC+ position on Tuesday.The market for …read more […]

The world’s No. 3 planemaker Embraer is open to new business partners after Boeing Co ditched a $4.2 billion deal that was years in the making, the Brazilian company’s chief executive told Reuters. “We are not looking for a partnership of the size that the company had with Boeing,” he said. “We think that it would be faster and more efficient to have partnerships by project.” …read more […]

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The Fed chief worries about a second wave of COVID and is still against negative rates. …read more […]

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Aveo Oncology (AVEO) announced that the U.S. Food and Drug Administration approved the New Drug Application (NDA) for its tivozanib used for the treatment of kidney cancer.Tivozanib is the company’s next-generation vascular endothelial growth factor receptor tyrosine kinase inhibitor (VEGFR-TKI) targeted for the treatment of relapsed or refractory renal cell carcinoma (RCC). The FDA has assigned the application standard review and a Prescription Drug User Fee Act target deadline date of March 31, 2021.“The acceptance of our NDA filing marks yet another important milestone for AVEO, as we pursue our goal of providing RCC patients whose disease has relapsed or …read more […]

(Bloomberg) — Deutsche Lufthansa AG shares surged after Europe’s biggest airline overcame most of the barriers to receiving a 9 billion-euro ($10 billion) bailout from the German government.The stock gained as much as 8.3% and was priced 6.6% higher at 9.75 euros as of 9:04 a.m. Tuesday, the first day of trading on the Frankfurt bourse since last week.Barriers to the rescue began to crumble late Friday, with Lufthansa agreeing to hand over operating slots at its main hubs to win European Union backing for the deal. Its supervisory board approved the compromise in a vote on Monday.Lufthansa is seeking …read more […]

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“Following this new agreement TietoEVRY and IBM have no notices of arbitration,” it said in the statement. Last year both companies submitted notices of arbitration related to their co-operation. As part of the deal some 180 employees currently employed by IBM will join TietoEVRY’s cloud specialists team, and some 25 employees currently employed by TietoEVRY will join IBM. …read more […]

Visa (V) has indicated a solid uptick in consumer spending from April to May, as it continues to actively monitor the Covid-19 impact globally.Most notably, in May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April. Meanwhile debit grew 12% and credit declined 21% year-over-year in May, a 17 ppt and 9 ppt improvement over April, respectively.“The continued distribution of Economic Impact Payments and the relaxing of shelter-in-place restrictions in a number of states are driving these trends” Visa stated.However, recovery in international markets in which Visa processes the majority of transactions lagged the …read more […]

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Shares in Gilead Sciences (GILD) traded down 3.4% on Monday after the company announced topline results from its Phase 3 SIMPLE trial in hospitalized patients with moderate Covid-19 pneumonia.This open-label study evaluated 5-day and 10-day courses of the investigational antiviral remdesivir plus standard of care, versus standard of care alone. The study demonstrated that patients in the 5-day remdesivir treatment group were 65% more likely to have clinical improvement at Day 11 compared with those in the standard of care group (OR 1.65 [95% CI 1.09-2.48]; p=0.017).The odds of improvement in clinical status with the 10-day treatment course of remdesivir …read more […]

(Bloomberg) — NetEase Inc. has started taking investor orders for a listing in Hong Kong that could raise as much as $2.8 billion, which could be the world’s second-largest initial share sale this year.The company plans to sell 171 million new shares in its second listing before exercising the over-allotment option, according to terms for the deal seen by Bloomberg. The offering by the Nasdaq-listed Chinese internet company is already oversubscribed, people familiar with the matter said. It has set the maximum offer price at HK$126 ($16.25) a share, meaning it could raise as much as $2.8 billion.NetEase’s listing is …read more […]

Argo, founded in 2016 by Bryan Salesky and Peter Rander, is now jointly controlled by VW and Ford Motor Co, which made an initial investment in Argo shortly after it was founded. Details of the VW investment, which does not include an agreement to purchase $500 million worth of Argo stock from Ford, was announced last July. …read more […]

“While overstaffing isn’t tied 100% to capacity levels, it would be fair to assume that we are overstaffed in many areas by a similar percentage,” Southwest said in the documents. The maximum leave period varies, and the airline said it “may return employees to work earlier if needed for operational needs.” …read more […]