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Trading Ideas

Bank of America Lets 50,000 Mortgage Borrowers Skip Payments

April 1, 2020 admin Comments Off on Bank of America Lets 50,000 Mortgage Borrowers Skip Payments

(Bloomberg) — Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they’ve lost income as a result of the pandemic.The borrowers have all kinds of home loans, including some that are not federally backed, said Bill Halldin, a spokesman for Bank of America.To qualify for the government forbearance program, passed last week by Congress as part of the stimulus package, homeowners must contact their lenders and request help. It’s only for people who have a hardship because of the coronavirus, though it doesn’t require them to present proof.The new legislation …read more […]

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‘The data is going to get worse from here’: Chief Strategist on economic data in response to the coronavirus

April 1, 2020 admin Comments Off on ‘The data is going to get worse from here’: Chief Strategist on economic data in response to the coronavirus

Emily Roland, John Hancock Investment Management Co-Chief Investment Strategist, addresses how U.S. markets have their worst quarter since the 2008 recession and how long it could take for a recovery. Roland joins Yahoo Finance’s On The Move to discuss. …read more […]

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Oil’s Crash Tips Former Titan of U.S. Shale Into Bankruptcy

April 1, 2020 admin Comments Off on Oil’s Crash Tips Former Titan of U.S. Shale Into Bankruptcy

(Bloomberg) — The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.S. shale field to seek protection from creditors.Whiting Petroleum Corp., facing more than a quarter-billion dollar debt maturity, filed for bankruptcy Wednesday, perhaps the most illustrious of the shale explorers thus far humbled by an unforgiving rout in every corner of the oil business.American crude has surrendered two-thirds of its value this year and just closed out its worst-ever quarterly performance. As many as 70% of the nation’s 6,000 oil explorers eventually may go under, according …read more […]

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Moderna Hopeful of Phase 1 Data for COVID-19 Vaccine by Summer, Analyst Reiterates Buy

April 1, 2020 admin Comments Off on Moderna Hopeful of Phase 1 Data for COVID-19 Vaccine by Summer, Analyst Reiterates Buy

The images of eerie empty streets, along with the sight of masked civilians roaming around, all add to the sense that we are currently on the set of a dystopian sci-fi movie. Add into the mix the race among pharmaceutical companies to develop a COVID-19 vaccine or treatment, and the drama is further enhanced. But as we all know, this is no screenplay, but current daily life around the globe. Vying for a starring role in this real-life drama is biotech Moderna (MRNA). The messenger RNA specialist is developing mRNA-1273, a vaccine against COVID-19 currently in Phase 1 testing, and …read more […]

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Judge’s Record Looks Unpromising for Amarin’s Appeal; Analyst Remains Bullish

April 1, 2020 admin Comments Off on Judge’s Record Looks Unpromising for Amarin’s Appeal; Analyst Remains Bullish

It hasn’t been a good week for biotech Amarin (AMRN). On Monday, a District of Nevada judge ruled against the company and in favor of two generic drug makers seeking to establish their own versions of Amarin’s treatment for high triglycerides, Vascepa, thereby, making mincemeat of Amarin’s six patent claims. Judge Du’s ruling caught the Street somewhat by surprise, as it was widely expected Amarin would prevail in the case. Alas, investors were not impressed and on Tuesday, the stock was sent tumbling by a merciless 70%. The next step, naturally, involves an appeal. With this in mind, H.C. Wainwright’s …read more […]