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Stocks Drop From Record Highs; Treasuries Gain: Markets Wrap

(Bloomberg) — U.S. stocks retreated from all-time highs after Bloomberg reported that existing tariffs on billions of dollars of Chinese goods will likely stay in place after the presidential election.The S&P 500, Nasdaq Composite and Dow Jones Industrial indexes all pulled back from records as the conditions underscored lingering concern about future progress in negotiations. Treasuries climbed earlier after a gauge of underlying inflation rose less than forecast.“There was a lot of optimism built up and now this just throws a whole new wrench into that optimism and a lot of questions moving forward,” said Ryan Nauman, a market strategist …read more […]

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Exact Sciences (EXAS) Stock Has 40% Upside From Here, Says Analyst

Exact Sciences’ (EXAS) preliminary quarterly results blew expectations out of the water.Yesterday, the molecular diagnostics company released preliminary results for its fourth quarter that exceeded analysts’ estimates. Total revenue for the quarter is expected to land between $294 million and $296 million, reflecting a top-line beat of about $4 million to $6 million.The better-than-expected outcome was primarily driven by its acquisition of Genomic Health, which was finalized back in November and gave it access to Oncotype DX gene expression tests that have been used in treatment decisions for over 1 million cancer patients globally. During the quarter, Oncotype DX test …read more […]

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Boeing Approaches Citi for New Loan Amid Max Crisis

(Bloomberg) — Boeing Co. is talking to a group of banks about a potential loan as it deals with a production halt of its grounded 737 Max jetliners, according to people familiar with the matter.Citigroup Inc. is leading the discussions between Boeing and a small group of banks, said the people, who asked not to be named because the details are confidential. The precise structure and timing of the loan is in flux, but the financing may be an investment-grade term loan, they said.Representatives for Citi and Boeing declined to comment.Boeing’s access to the credit markets could soon get more …read more […]

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After a Massive Gain, Is There Still Room for Adaptimmune (ADAP) Stock to Soar?

In a single day, the talk on the Street has zeroed in on one stock, oncology-focused cell therapy company Adaptimmune Therapeutics (ADAP). Following its presentation of promising data at the 38th annual J.P. Morgan Healthcare Conference, shares took off, posting a whopping 200% one-day gain.The data revealed that its MAGE-A4 (ADP-A2M4 and next-generation ADP-A2M4CD8) and AFP (ADP-A2AFP) therapies, part of its SPEAR T-cell platform, demonstrated initial solid tumor responses in four indications: gastro-esophageal junction, head and neck, liver cancers and melanoma.“These responses demonstrate that our proprietary SPEAR T-cell platform is clearly active and can overcome the challenges of treating a …read more […]

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Boeing net orders slump to lowest in decades

Allowing for cancellations and changes to earlier orders, Chicago-based Boeing said it had received just 54 new orders for planes in 2019 and delivered less than half as many as a year earlier, losing the top spot to its European rival for the first time in eight years. Ten months after the MAX was grounded following a pair of fatal crashes linked to its MCAS anti-stall system, Boeing still has a backlog of more than 5,400 orders for its long- and short-distance commercial jets. Boeing said on Tuesday deliveries fell by 53% to 380 planes over the whole …read more […]

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What Are the 3 Best Value Stocks in the S&P 500? Here Are the Results

Shoppers everywhere like to find the best value; that’s a given. And investors? Well, investors are just a special case of shoppers – in this case, shopping for stocks. So, how can we define a good value when it comes to stocks? In short, we’re looking for high upside and high dividend yields.TipRanks, a platform that tracks and measures the performance of analysts, offers a set of tools to search the raw data collected from 5,700 Wall Street financial experts and 6,500 publicly traded companies. The basic tool, the Stock Screener, gives investors a set of filters to screen the …read more […]

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MGM Resorts to Sell Las Vegas Strip Properties MGM Grand, Mandalay Bay

MGM Resorts International has agreed to sell the MGM Grand and Mandalay Bay casino and resort properties in Las Vegas to a new joint venture between MGM Growth Properties LLC and private equity giant Blackstone Real Estate Income Trust, Inc. The deal is priced at $4.6 billion. MGM Resorts will continue to manage and operate […] …read more […]

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Citi Fixed-Income Trading Surges 49%

(Bloomberg) — Citigroup Inc. cut traders — and got its mojo back.Revenue from fixed-income trading surged 49% in the fourth quarter — more than double the increase predicted by analysts — after a slump that rattled the industry a year ago. The rebound, combined with surprisingly strong earnings from debt underwriting and consumer banking, pushed net revenue for the period to the highest since 2015.The finale puts the trading division on stronger footing heading into a new decade, as executives pursue a series of profitability targets that have led to dismissals when revenue faltered. On Tuesday, they vowed to keep …read more […]