• Financial Times

    WeWork on track for profits and positive cash flow in 2021, says chairman

    WeWork is on track to have positive cash flow in 2021, a year ahead of schedule, after it cut its workforce by more than 8,000 people, renegotiated leases and sold off assets, its executive chairman said. Marcelo Claure said in an interview that the SoftBank-backed office space provider had seen strong demand for its flexible work spaces since the start of the coronavirus pandemic. In February, Mr Claure set a target of reaching operating profitability by the end of next year and he said WeWork remains on track to meet it.

  • 2 Warren Buffett Picks That Will Never Beat the S&P 500 -- and Why You Might Want to Buy Them Anyway
    Motley Fool

    2 Warren Buffett Picks That Will Never Beat the S&P 500 -- and Why You Might Want to Buy Them Anyway

    Warren Buffett is a loser. Before you attempt to throw something at me through the Internet, allow me to clarify. The billionaire investor is losing compared to the overall market so far this year. The vast bulk of Buffett's fortune is in Berkshire Hathaway (NYSE: BRK.

  • Thomson Reuters StreetEvents

    Edited Transcript of MKC.N earnings conference call or presentation 25-Jun-20 12:00pm GMT

    Q2 2020 McCormick & Company Inc Earnings Call

  • 'Fall Guys' brings mini-game battle royale to PS4 and Steam on August 4th
    Engadget

    'Fall Guys' brings mini-game battle royale to PS4 and Steam on August 4th

    'Fall Guys' is coming to PS4 and Steam on August 4th, bringing the battle royale concept to kid-friendly mini-games.

  • 3 Absolutely Rock-Solid Stocks to Buy Before the Market Crashes Again
    Motley Fool

    3 Absolutely Rock-Solid Stocks to Buy Before the Market Crashes Again

    You might have noticed that the stock market doesn't seem phased much by the flurry of bad news lately. A smart strategy is to invest in stocks of companies built to survive and thrive over the long run. Here are three absolutely rock-solid stocks to buy before the next stock market crash.

  • South Africa May Reimpose Measures; U.K. Mask Rule: Virus Update
    Bloomberg

    South Africa May Reimpose Measures; U.K. Mask Rule: Virus Update

    (Bloomberg) -- South Africa may reintroduce tighter regulations on the movement of people and curb sales of alcohol as coronavirus infections soar, the Sunday Times reported. Hungary is also restricting travel after spikes in neighboring countries.Thailand plans to start human trials for a locally developed, potential Covid-19 vaccine as early as September, making it among the first done outside high-income countries, after encouraging results in monkeys and mice.U.K. Prime Minister Boris Johnson is set to tell Parliament this week it will be compulsory for Britons to wear face masks in shops, according to news reports, soon after saying that it was only optional to do so. Infections in Germany increased by 377.Key Developments:Global Tracker: Cases top 12.7 million; deaths surpass 565,000Aversion to mask-wearing holds back U.S. economyU.K. set to tighten rules on wearing face masksWall Street forges a new relationship to data in coronavirus ageConflicting visions emerge for South Africa’s post-virus revivalCovid inoculation proposal stalled by feds, pharmaPoland votes in pivotal ballot as pandemic tests populist roleSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus.France to Test at Airports (6:21 a.m. NY)France will proceed to systematic testing at airports “over the next few days” for passengers arriving from countries where coronavirus is circulating intensely, government spokesman Gabriel Attal said during a BFM TV interview on Sunday. The government is targeting 2,000 tests a day at airports initially.Asked whether France will impose wearing masks in closed spaces, Attal said “we’re adapting constantly to the situation.”New Hong Kong Cases Found (6 a.m. NY)Hong Kong reported 38 new cases on Sunday, feeding fears of a resurgence in the Asian hub after weeks of near-normal activity.Thirty of the cases were locally transmitted, including 13 of unknown origin, the city’s Department of Health said at a briefing. The other eight cases were imported, meaning people returning from abroad. That brought the total number of cases in Hong Kong to 1,469.The city’s government tightened social-distancing measures for some businesses from Saturday. Residents were urged to avoid going out or attending group gatherings for the next two weeks.Indonesia’s Virus Cases Exceed 75,000 (5:59 p.m. HK)The number of cases in Indonesia exceeded 75,000 as infections in the two largest hotspots continued to accelerate after the government eased physical-distancing curbs more than a month ago.There were 1,681 new cases in the 24 hours to midday Sunday, bringing the total to 75,699, authorities said, adding that 71 people succumbed to the virus. The increase in cases is in line with the average of 2.2% over the previous seven days. Indonesia has the most cases and fatalities in Southeast Asia with 3,606 deaths.Hungary Tightens Travel Restrictions (5:38 p.m. HK)Hungary will conduct health checks at the border and require 14-day quarantine for those arriving from higher-risk countries for the coronavirus while foreigners from the highest risk nations will be barred from entry, cabinet minister Gergely Gulyas said at a televised briefing on Sunday.No European Union nation is listed in the “red” category currently, denoting the highest risk, Gulyas said. Bulgaria, Romania, Sweden and the U.K. were among countries listed as “yellow” or higher risk. Authorities will review the list weekly.South Africa Considers New Restrictions: Times (4:18 p.m. HK)South Africa may reintroduce tighter regulations on the movement of people and curb sales of alcohol as coronavirus infections soar, the Sunday Times reported.President Cyril Ramaphosa will make an address on the new measures to help contain the virus on Sunday evening, the newspaper said. The reintroduction of curfews is being discussed.Cases have risen an average of 5% a day for the past week, and the increase hasn’t been below 4% for almost a month. South Africa’s virus infections rose to 264,184 with almost 4,000 deaths, health minister Zweli Mkhize, said in a statement Saturday.German Infections Rise Steadily (2:25 p.m. HK)Germany’s coronavirus cases rose to 199,709, while deaths increased by seven to 9,070, according to data from Johns Hopkins University, both climbing at about the same rate as the previous day. The reproduction factor -- or R value -- grew slightly to 0.93, according to the latest estimate by the Robert Koch Institute, Germany’s health body. The 95% confidence interval means the number is somewhere between 0.72 and 1.13. The relatively small number of new cases means the value can fluctuate more wildly.Thailand to Begin Vaccine Trials in Humans (12:13 p.m. HK)The first stage of Thai clinical trials will enroll about 100 volunteers separated in two groups, one for people aged 18 to 60 and the other for 60- to 80-year-olds, Kiat Ruxrungtham, head researcher at Chulalongkorn University’s Center of Excellence in Vaccine Research and Development, said at a briefing on Sunday in Bangkok. The second stage, likely to begin in December, will involve 500 to 1,000 people. If the trials are successful, Thailand could have its vaccine by the second half of 2021, Kiat said. Globally, 160 vaccines are being studied for Covid-19, of which 21 are at the clinical evaluation stage, according to the World Health Organization.Toyota to Restart All Factories Globally (12:03 p.m. HK)Toyota Motor Corp. will reopen its Venezuelan plant on Monday, meaning all factories in South America will be operational, spokesman Kensuke Ko said. The auto giant had already opened all its plants in Japan, North America and Europe, he said. From February, Toyota halted production in many countries, starting with China, as the coronavirus spread rapidly across the world.Melbourne Students to Return to Remote Learning (11:01 a.m. HK)Most students in Australia’s second-biggest city will go back to remote learning as officials grapple with coronavirus outbreaks. All prep to year 10 students at government schools will return to learning from home starting July 20 until at least Aug. 19, Victoria’s Premier Daniel Andrews told a press conference Sunday. Melbourne is in the midst of a six-week lockdown that was imposed to help curb a growing infection count.Australia’s Victoria State Deals With Additional Cases (9:16 a.m. HK)The country’s second-most populous state, which is facing a worsening outbreak, found 273 new infections in the past 24 hours. Australia had enjoyed early success in crushing the curve of virus infections by shutting its international border, quarantining arrivals, social distancing measures and a widespread testing and tracing regime. But a mixture of complacency, easing restrictions and missteps in Victoria’s quarantine program, has seen a fresh outbreak that’s led to Melbourne being placed in a six-week lockdown.Authorities also warned of a cluster of infections linked to a hotel in Sydney’s southwest, and urged anyone who visited the venue from July 3 to 10 to self-isolate. Nine cases have been connected to the hotel, according to New South Wales health officials.South Korea Reports More Infections (9:13 a.m HK)South Korea reported 44 more Covid-19 cases in 24 hours, raising the total tally to 13,417, according to data from Korea Centers for Disease Control & Prevention. One additional death was reported, taking the total to 289. Among the new infections, 23 were imported.Japan Virus Chief Says Country Needs to be on High Alert (8:34 a.m. HK)Japan’s virus czar Yasutoshi Nishimura, who also serves as the nation’s economy minister, said the number of cases with unclear contagion routes is increasing, straining public health care resources. He didn’t say if the current situation warrants another declaration of emergency. The country has seen a spike in cases over recent days, with Tokyo reporting more than 200 infections daily for the past three days. Tokyo found 206 new cases Sunday, TV Asahi reported, without saying where it got the information.Mexico Cases Rise (8:23 a.m. HK)Mexico reported 6,094 new Covid-19 cases and 539 deaths Saturday, bringing the case count to 295,268 and number of deaths to 34,730, the fifth highest in the world, according to data released by the Health Ministry. New cases hit records this week, with officials reporting more than 7,000 for the first time Thursday.Brazil Reports 39,023 New Cases (6:40 a.m. HK)Total cases in Brazil, which has the highest number of infections and deaths after the U.S., reached 1,839,850, according to the Health Ministry’s press office. Another 1,071 deaths were reported, for a total of 71,469.Mormons Ask Faithful to Wear Masks (6:30 a.m. HK)The Church of Jesus Christ of Latter-day Saints in Utah sent an email to worshippers asking them to wear masks as cases in the state continue to climb, the Deseret News reported.“Please join with us now in common purpose for the blessing and benefit of all,” read an email noting that the state hit a record number of daily cases on Friday of 867.As of Saturday, the state reported a total of 28,223 cases and 207 deaths, according to Bloomberg and Johns Hopkins University.Trump Wears Mask on Hospital Visit (5:45 p.m. NY)President Trump wore a mask during a scheduled visit to the Walter Reed National Military Medical Center.The event was the first public photo opportunity in which he has appeared with a mask on since the beginning of the outbreak. He was set to meet with combat veterans and health care workers.Despite repeated calls to do so, including from members of his own party, Trump has stubbornly refused to wear a mask, defying official guidelines from the Centers for Disease Control and Prevention and other health experts.U.K. Plans to Expand Mask Rules, Times Reports (5:35 p.m. NY)The U.K. government is set to make wearing masks mandatory in shops and other undisclosed indoor venues, the Times reported. Masks are currently compulsory on public transport but Boris Johnson has, so far, promised only to get “stricter” on their use. Johnson’s administration has come in for steady criticism for its handling of the coronavirus pandemic, which has claimed the lives of about 45,000 people in the U.K. -- by far the highest toll in Europe.Scotland has already made it compulsory to cover faces in shops.U.S. Cases Rise 2.3% by Record (4:02 p.m. NY)New infections in the U.S. surged by a record 71,389 from a day earlier to 3,215,861 million, jumping 2.3% and exceeding the daily average of 1.9% in the previous seven days, according to data compiled by Bloomberg and Johns Hopkins University.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 3 Moneymaker Stocks to Buy If the Market Crashes
    Motley Fool

    3 Moneymaker Stocks to Buy If the Market Crashes

    Focusing on companies that generate a boatload of cash can be a smart way to navigate a stock market crash.

  • Have $5,000? 3 Coronavirus Stocks You Can Buy in July Without Losing Any Sleep
    Motley Fool

    Have $5,000? 3 Coronavirus Stocks You Can Buy in July Without Losing Any Sleep

    These healthcare leaders give you a relatively low-risk way to invest in the fight against COVID-19.

  • High-Stakes Vote in Poland Tests Populist Rule
    Bloomberg

    High-Stakes Vote in Poland Tests Populist Rule

    (Bloomberg) -- Poland is voting in a high-stakes presidential election as the coronavirus pandemic tests the populists’ grip on power and threatens one of the biggest nationalist makeovers in the heart of Europe.In what may be the closest ballot in Poland’s post-communist history, incumbent Andrzej Duda is battling Warsaw Mayor Rafal Trzaskowski for the presidency in a runoff ballot on Sunday. More than 30 million eligible voters can cast their ballots until 9pm CET (3pm EST), when an exit poll will be published by the country’s three main television stations.Duda’s presidential victory in 2015, a month before Donald Trump launched his election campaign, marked the start of a series of events that would sweep the Law & Justice party into power with its promise to kick out the “elites” and stand up to the European Union.But in a warning sign for populists across the EU and the Atlantic, the pandemic and its economic fallout are changing the political calculus.“The pandemic showed that simple answers by populists are lacking credibility,” said Piotr Buras, head of the Warsaw bureau of the European Council on Foreign Relations, or ECFR. “At first it seemed the pandemic would blow wind in the sails of populists, but the reality turned out to be reverse.”Deep SplitThe deep split was on display in Rawa Mazowskiecka, a town about 80 kilometers (50 miles) southwest of Warsaw, where truck driver Tadeusz Kolodziejski, 61, said that life in Poland is “clearly better” now than five years ago due to unprecedented social-spending programs.Anna Elster, a 38-year-old English teacher who lived in the U.K. for years, was worried that never-ending political battles will push Poland out of the EU. “My life is generally going well here, but I can’t believe we’re so backward-looking, so judgmental about others and everything is so politicized. I only hope we won’t lose our EU membership.”Before the outbreak, Duda was cruising for re-election, with record low unemployment and Law & Justice in control of the public narrative after winning a second term in parliamentary elections in October. After a visit to the White House, the incumbent came out on top in the first round on June 28, though without the majority needed to avoid another ballot.In Poland, as in the U.S., the leadership has doubled down on its culture war, and Duda has the support of public broadcasters. He hurled insults at Germany, the gay community, independent journalists, took a swipe at mandatory vaccinations and promised not to give in to Jewish demands for compensation for property lost during World War II.Game ChangerBut the coronavirus is proving to be a game-changer. While the Polish economy is forecast to shrink the least among the European Union’s 27 countries, the crisis is making Polish citizens more skeptical of its own government and more pro EU, according to a survey by the ECFR.That’s bad news for Law & Justice, whose government has been repeatedly sued by the EU for undermining judicial independence and the rule of law. Coal-reliant Poland is also the bloc’s only nation not to sign up for its goal of carbon neutrality by the middle of this century.Should Trzaskowski, also 48, prevail this weekend, it would send a message to Brussels and Berlin that Poland still has one foot in the European mainstream at the critical time for the continent.Poland’s president oversees the military, co-decides on foreign policy and can veto bills, while the prime minister -- who’s appointed by lawmakers -- runs the economy and government. Law & Justice doesn’t have a big enough majority in parliament to override a veto, meaning that Trzaskowski’s victory could halt the party’s makeover.‘Enough’Trzaskowski has tapped into voter anger with his “We’ve had enough” slogan. For the first time in years, Law & Justice’s message wavered.When Law & Justice leader Jaroslaw Kaczynski visited a family grave during the brunt of the lockdown in April, at a time Poles were barred from non-essential travel, a satirical song titled “Your Pain Is Better Than Mine” topped local charts. Public radio accused the disc jockey running the countdown of manipulation, and he quit in protest.As the election race tightened, state-controlled media has painted the president as the savior of Poland and the sole guarantor of social benefits. At the same time, Trzaskowski was depicted as close to “foreign financial circles” and eager to sell out to the Germans, Jewish groups and “radical” LGBT activists.“It’s a shame that this hostility is entering the mainstream,” said Rafal Pankowski, a sociology professor and co-founder of the “Never Again” Association that fights racism. “In the heart of Europe, in the 21st century, we have an election campaign that focuses so much on attacking and humiliating minorities.”(Updates with comments from voters from sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Libya’s Oil Industry Thrown Into More Chaos as Haftar Digs In
    Bloomberg

    Libya’s Oil Industry Thrown Into More Chaos as Haftar Digs In

    (Bloomberg) -- Libya’s oil industry was thrown into more confusion with military commander Khalifa Haftar, a key player in the nation’s civil war, saying he would continue to blockade ports and fields, barely a day after the state energy company said exports could resume.Haftar’s Libyan National Army had allowed a tanker to load about 730,000 barrels of crude from the eastern port of Es Sider on Friday, with the cargo bound for Italy. That was an exception and more shipments will be banned until the warring sides agree to distribute oil money more fairly and to audit the Tripoli-based central bank, which handles energy revenue, the LNA’s spokesman, Ahmed al-Mismari, said in a televised statement posted on Facebook.The National Oil Corp., also based in Tripoli, lifted force majeure on all terminals and fields on Friday, shortly before the Aframax vessel Kriti Bastion entered Es Sider. The NOC didn’t immediately respond to questions on whether force majeure, a legal status protecting a party from liability if it can’t fulfill a contract for reasons beyond its control, would be reimposed.The reversal reflects the chaos that has engulfed Libya, an OPEC member and home to Africa’s largest crude reserves. Haftar’s eastern-based forces are vying for control of the country with the United Nations-recognized government, which is located in Tripoli in the west and led by Prime Minister Fayez al-Sarraj.The two sides are poised to square off near the central city of Sirte, in what could be a decisive battle. Turkey, which backs Sarraj, said he won’t agree to a ceasefire until Haftar’s fighters retreat from Sirte and the nearby region of Jufra. Haftar’s supporters include Russia, Egypt and the United Arab Emirates.Haftar’s blockade in January sent Libyan crude production crashing to about 100,000 barrels a day from 1.2 million and has cost the country $7 billion in lost revenue, according to the central bank. Libya’s output was as high as 1.6 million barrels daily in early 2011 before an uprising ousted longtime leader Moammar Qaddafi and led to the civil war.Libya’s oil facilities have been at the heart of the conflict, with different groups repeatedly closing them. The shutdowns and lack of maintenance have severely damaged fields and wells. Repairs will cost hundreds of millions of dollars and take months even if fighting stops soon, NOC Chairman Mustafa Sanalla said in an interview last month.Any increase in supply from Libya could undermine efforts by the Organization of Petroleum Exporting Countries and its allies to rebalance the oil market and prop up prices amid the coronavirus pandemic. The group, known as OPEC+ and led by Saudi Arabia and Russia, agreed on record cuts to production in April. Libya is exempt from those because of its strife.(Updates from first paragraph with Haftar’s decision.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 3 Stocks I'll Be Looking to Buy the Next Time the Market Crashes
    Motley Fool

    3 Stocks I'll Be Looking to Buy the Next Time the Market Crashes

    1Life Healthcare (NASDAQ: ONEM), which is also known as One Medical, began trading on the NYSE on Jan. 31. What makes One Medical an appealing buy is that the primary care provider offers patients the option of in-person visits or virtual visits. As of March 31, the company boasted 455,000 members.

  • These 3 Patient Advocacy Groups Are Helping Solve Issues in the COVID-19 Pandemic
    Motley Fool

    These 3 Patient Advocacy Groups Are Helping Solve Issues in the COVID-19 Pandemic

    Likewise, the symptoms of COVID-19 can make it harder for patients to represent themselves and work with their care team, especially when the patients are in intensive care. To address these challenges and ensure that patients with COVID-19 are supported as effectively as possible, a handful of patient advocacy groups and nonprofits are rising to the task even as funding dries up and many charities struggle to stay in operation. Under normal conditions, Patient Advocate Foundation (PAF) helps patients get access to care by negotiating on their behalf when they can't pay for therapy.

  • 3 Reasons Not to Invest During Our Current Recession
    Motley Fool

    3 Reasons Not to Invest During Our Current Recession

    If any of these factors apply to you, you may want to hold off on buying stocks. An emergency fund with three to six months' worth of living expenses will suffice when the economy is strong, but in a recession, you should really try for six months' worth of living costs at a minimum. Easily.) If, at the same time, you've lost your job and need money but don't have enough in the bank, you may have no choice but to cash out investments when they're down, thereby locking in that $3,000 loss instead of waiting things out and letting your portfolio recover.

  • 3 Monster Growth Stocks Gearing up for Gains
    TipRanks

    3 Monster Growth Stocks Gearing up for Gains

    We’ve never seen anything like this. Since the onset of the COVID-induced recession, unprecedented levels of monetary and fiscal stimulus have been pumped into the economy, demonstrating the Federal Reserve’s efforts to support the economic recovery. To prevent the fallout seen during the Great Depression after monetary accommodation was withdrawn too early, the Fed plans to continue this accommodative policy. Against this backdrop, continued volatility could be on tap as the market unpacks the effects of surging COVID-19 cases, the U.S. presidential election, the historic gains from the pandemic-driven low point and economic reopenings. According to some analysts, this combination of continued stimulus and the resulting improvement of the credit market and liquidity sets the stage for growth. We mean business when we say growth. Not just in the short-term, Wall Street pros argue that several names are in it for the long haul, boasting strong growth prospects through 2020 and beyond. Bearing this in mind, we used TipRanks’ database to pinpoint three stocks flagged by members of the Street for their impressive long-term growth narratives, with each Buy-rated ticker sporting over 30% upside potential. Arconic (ARNC) Hoping to advance the automotive, aerospace, commercial transportation, industrial and building and construction markets, Arconic offers aluminum sheet, plate and extrusions, as well as cutting-edge architectural products. Even though the company has experienced headwinds in the aerospace sector, one analyst sees major gains on the horizon. Writing for Credit Suisse, four-star analyst Curt Woodworth believes the third quarter represents “a major inflection point as Ford and GM truck/SUV production sharply accelerates and OEMs need to restock heat-treat plate, which has limited shelf life.” Looking at its Q1 performance, he cites the fact that despite the rough macro conditions, segment EBIT rose 26% year-over-year with margins up 310 basis points. This demonstrates the system-wide restructuring benefit, in Woodworth’s opinion. To support his bullish thesis, Woodworth points out that ARNC has multiple growth levers including its 600 million pounds of excess capacity, which is slated to be absorbed by automotive and even packaging over the next two years. “ARNC won material share on the new 2020 GM SUV launches and should see sharply higher utilization rates at its Tenn. plant by end 2020. Once ARNC’s non-compete with Alcoa expires in 4Q, we expect ARNC to quickly re-qualify for US can sheet production, which could add $40 million to EBITDA,” he added. It should be noted that 737 Max issues at Boeing have taken a toll on demand. While Woodworth’s estimates for aerospace volumes in 2020-2021 are conservative, he stated, “... we expect aerospace will be a material driver in 2022-24 as build rates accelerate, especially for the 737 Max where ARNC has a high margin content share.” Speaking to its valuation, Woodworth thinks it’s compelling given the company’s “strong positions and ~250kt spare capacity.” Adding to the good news, the robust free cash flow could enable the dividend policy to kick off in early 2021. Everything that ARNC has going for it prompted Woodworth to initiate coverage with an Outperform rating and set a $22 price target. This target implies shares could climb 52% higher in the next year. (To watch Woodworth’s track record, click here) Turning now to the rest of the Street, it has been quiet when it comes to other analyst activity. Woodworth’s call is the only recent review, so the consensus rating is a Moderate Buy. (See Arconic stock analysis on TipRanks) Moderna Inc. (MRNA) Biotech company Moderna is no stranger to the spotlight, thanks to its efforts to advance a COVID-19 vaccine. Despite having already gained 220% in 2020, several analysts believe that there’s still plenty of fuel left in the tank. Pointing to the encouraging Phase 1/2 results from Pfizer and BioNTech’s competing mRNA/LNP-based COVID-19 vaccine, five-star analyst George Farmer, of BMO Capital, argues that they are a positive for MRNA. According to the analyst, the data “supports the utility of this technology platform against SARS-CoV-2 and the likelihood of success of MRNA’s mRNA-1273.” Looking specifically at Pfizer/BioNTech’s candidate, BNT162b1, it is one of several mRNA vaccine candidates against SARS-CoV-2. Remarkably, after 28 days, 24 participants receiving two injections of either 10 ug or 30 ug of the vaccine generated neutralizing antibody titers against coronavirus infection that were about 2-3 times what was seen in convalescent sera used as controls. On top of this, the vaccine had a robust safety profile. Turning to mRNA-1273, two injections of Moderna’s experimental vaccine produced neutralizing antibody titers in 8 out of 8 subjects that reached or exceeded titers generally measured in convalescent sera. “In contrast to mRNA-1273, which encodes for a version of the complete trimeric coronavirus Spike protein, BNT162b1 encodes for just the Spike protein receptor binding domain (RBD). Whether this makes a difference in relative potency remains to be seen; however protection conferred by DNA vaccines encoding the RBD or full-length Spike appeared comparable in macaques,” Farmer commented. While Farmer points out that these results set up a “head-to-head competition”, with Pfizer/BioNTech’s timeline and scale matching MRNA’s Phase 3 plans, he remains optimistic. “These results also set up a competitive race between the PFE/BNTX and MRNA vaccines, but the potential market is certainly large enough to accommodate both, in our view,” he said. As a result, Farmer is still giving MRNA a thumbs up, reiterating his Outperform call. In addition, the price target stays at $112. Should the target be met, a twelve-month gain of 79% could be in store. (To watch Farmer’s track record, click here) In general, other analysts are on the same page. 12 Buys and 2 Holds add up to a Strong Buy consensus rating. Based on the $85.36 average price target, the upside potential comes in at 36%. (See Moderna stock analysis on TipRanks) Overstock.com (OSTK) Last but not least, we come across Overstock.com, which is a tech-driven online retailer that sells products ranging from furniture and home décor to apparel and jewelry. Given the strong projections for 2020 sales, one member of the Street is taking an even more bullish stance. Representing D.A. Davidson, five-star analyst Tom Forte tells clients that several factors have made him more optimistic going forward. First and foremost, separate from COVID-19, the company has made improvements to the business. That’s not to say COVID-19 hasn’t had an impact on OSTK. During the months of April and May, the company reported a 120% gain in sales as a result of the pandemic, with the strength persisting in June. Weighing in on this result, Forte commented, “Further, when considering the valuations for other e-commerce players managing surges in demand from COVID-19, including its closest peer Wayfair (which, according to Capital IQ, trades at more than 1.6x EV/Sales), should Overstock be able to further exploit the opportunity and emerge with faster sales growth than we are currently forecasting, we see the potential for upside to our one-turn multiple.” If that wasn’t enough, Forte highlights the “government contract it won (a $6B annual spend, while recognizing it was one of three providers selected, along with Amazon and Fisher Scientific).” Based on all of the above, Forte assigned a new price target, in addition to staying with the bulls. He didn’t just lift the figure, he set the new Wall Street high when he bumped up the price target from $33 to $66. This new figure conveys his confidence in OSTK’s ability to surge 35% in the next twelve months. (To watch Forte’s track record, click here) Like ARNC, OSTK has stayed relatively under-the-radar, as Forte is the only analyst to have thrown an opinion into the mix recently. To this end, the stock gets a Moderate Buy consensus rating. (See Overstock.com stock analysis on TipRanks)

  • 3 Top Healthcare Stocks to Buy Right Now
    Motley Fool

    3 Top Healthcare Stocks to Buy Right Now

    Investors often consider the healthcare sector a "defensive" one because people get sick in good economic times and bad. The healthcare sector has been thrown into turmoil with stay-at-home orders and clinic closures. BioNTech (NASDAQ: BNTX), NeoGenomics (NASDAQ: NEO), and Illumina (NASDAQ: ILMN) are three companies that should come through the pandemic era stronger than ever.

  • Long queues in Hong Kong's 'litmus test' primaries
    Reuters Videos

    Long queues in Hong Kong's 'litmus test' primaries

    Amid concerns that the wide-ranging freedoms enjoyed in Hong Kong are being crushed, long queues were formed on the second day of elections to select democracy candidates for Legislative Council elections in September. Though only for the opposition camp, observers are watching closely as they say the turnout at the election will serve as a litmus test of broader opposition to the national security law. Hong Kong's secretary for constitutional and mainland affairs has warned that the election could breach the new national security law. The polls will close at 9 p.m. (1300 GMT) with results to be announced on Monday (July 13).

  • Social Security Recipients May Score Another "Raise" in 2020
    Motley Fool

    Social Security Recipients May Score Another "Raise" in 2020

    The coronavirus pandemic has been a bit of an odd blessing for most Social Security beneficiaries on a fixed income.

  • Financial Times

    China Moly strikes $550m precious metal deal with Elliott-backed miner

    China Molybdenum Co has sold the rights to future gold and silver production from its Northparkes mine in Australia to a company backed by US hedge fund Elliott Management, according to people with knowledge of the transaction. Under the deal, CMOC, which is listed in Shanghai and Hong Kong, will receive $550m in cash upfront from Triple Flag Precious Metals Corp plus ongoing payments in return for a share of all gold and silver output from the mine. The agreement between CMOC, which has a market value of $12bn, and Triple Flag is the first so-called streaming transaction involving a Chinese mining company.

  • CNW Group

    Triple Flag Announces US$550 million Gold and Silver Stream on CMOC's Northparkes Mine

    TORONTO , July 12, 2020 /CNW/ - Triple Flag Precious Metals Corp. ("TFPM") is pleased to announce that its wholly-owned subsidiary, Triple Flag Mining Finance Bermuda Ltd. ("Triple Flag Bermuda" and collectively with TFPM, "Triple Flag") has entered into a stream agreement with certain subsidiaries of China Molybdenum Co., Ltd. (collectively, "CMOC"), to receive gold and silver deliveries determined by reference to production from the Northparkes copper-gold mine located in New South Wales, Australia . Triple Flag Bermuda will make an upfront cash payment of US$550 million and on-going payments equal to 10% of the spot gold price and spot silver price at the time of delivery for gold and silver equal to 54.0% of the gold and 80.0% of the silver produced at Northparkes (the "Stream").

  • Financial Times

    Democrats say Trump food aid programme is ‘inequitable’

    Democrats say the Trump administration is continuing to deny food aid to seven northeastern US states — none of which voted for the president. Of the $1.5bn awarded by the US Department of Agriculture in the second round of its programme only $57.7m, or less than 4 per cent, went to food distributors serving its north-eastern region — New York, Connecticut, Rhode Island, Massachusetts, Vermont, New Hampshire and Maine. None of the seven voted for Donald Trump in the 2016 election.

  • Xeris Spikes 12% After-Hours On Soros Stake; Analyst Says Buy
    SmarterAnalyst

    Xeris Spikes 12% After-Hours On Soros Stake; Analyst Says Buy

    Xeris Pharmaceuticals (XERS) spiked 12% in Friday’s after-hours trading after a filing disclosed that Soros Fund Management, LLC holds a 5.3% stake in the company with ~2.5M common shares.Soros Fund Management was founded in 1969 by 89-year old hedge fund tycoon and billionaire George Soros.Xeris’s lead product, Gvoke, is a ready-to-use glucagon product for diabetic patients experiencing severe hypoglycemia, which has been approved as a prefilled syringe (PFS) and autoinjector (HypoPen).The HypoPen was launched on July 1, making it the first ready-to-use glucagon in a premixed autoinjector, with no visible needle.“We are excited to announce that Gvoke HypoPen is now available. The simplicity and reliability of Gvoke HypoPen has the potential to change people’s ability to confidently respond to a severe hypoglycemic event in a timely manner,” commented CEO Paul R. Edick on the launch.RBC Capital’s Randall Stanicky has a buy rating on Xeris and $15 price target, writing that Gvoke addresses an important unmet need in a large patient population where current standards of care have significant limitations that have impeded uptake.Plus he cites the company’s broad pipeline that targets several diseases with limited or no viable treatment options. The pipeline leverages Xeris’ two formulation technology platforms to create non-aqueous formulations of existing drugs.“Formulation technology platforms can be otherwise leveraged across several therapeutic areas and Xeris is currently working with other companies to assess the feasibility of applying its platform to other products” the analyst adds.Overall, the stock has a Strong Buy Street consensus, with 4 recent buy ratings. Meanwhile the average analyst price target stands at $12.50 (373% upside potential). (See XERS stock analysis on TipRanks).Related News: Novavax Spikes 42% Pre-Market On $1.6B U.S. Funding For Covid-19 Candidate Gilead Reveals Covid-19 Treatment Remdesivir Reduces Mortality Risk Moderna Inks Deal With Rovi To Supply Potential Covid-19 Vaccine Outside US More recent articles from Smarter Analyst: * Australia Provisionally Approves Gilead’s Covid-19 Treatment * Gilead Reveals Covid-19 Treatment Remdesivir Reduces Mortality Risk * Square Snaps Up Stitch Labs, As Analyst Finally Upgrades Stock * Alibaba’s CEO Sets Out Ambitious Goals; Sees 2B Customers By 2036

  • With EPS Growth And More, dotdigital Group (LON:DOTD) Is Interesting
    Simply Wall St.

    With EPS Growth And More, dotdigital Group (LON:DOTD) Is Interesting

    It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

  • Who wins, who loses in China's plans for a Greater Bay Area wealth management hub?
    South China Morning Post

    Who wins, who loses in China's plans for a Greater Bay Area wealth management hub?

    Banks that straddle China's borders look set to be the major beneficiaries of a new wealth management scheme catering to over 70 million people living in the Greater Bay Area.Meanwhile, private banking boutiques, brokers and insurance companies are effectively barred from selling products via the scheme, dubbed Wealth Management Connect, according to regulators and industry professionals.China's outline of the Wealth Management Connect pilot project, unveiled on June 29, was short on detail.But regulators and industry professionals' working plan is that only banks with a partner on the other side of the border will be eligible to sell wealth management products under the scheme, people familiar with the matter said.Hong Kong can benefit from the closer economic collaboration with the bay area, said Peter Wong, the deputy chairman and chief executive of Hongkong and Shanghai Banking Corporation Ltd, a unit of HSBC Plc. "We are already prepared for mainland investors to open mutual fund and investment accounts in Hong Kong," said Wong.HSBC is present in all 21 prefecture-level cities in Guangdong, and more than a third of its outlets in mainland China are located in the Guangdong Province.Financial institutions such as Bank of China, London-headquartered HSBC and Bank of East Asia (BEA) will be in a strong position as they have operations in both Hong Kong and the mainland, said Bruno Lee, chairman of the Hong Kong Investment Funds Association.For most banks, selling wealth management products in the bay area represents a growth opportunity at a time when business is flagging because of the economic fallout from the coronavirus and anti-government protests."BEA is well positioned to serve the different investment needs of our customers in the region," said Adrian Li Man-kiu, co-chief executive of BEA. BEA has 75 branches in Hong Kong and 25 branches in the nine cities in the bay area.The bay area is one of the world's largest banking clusters with revenues expected to reach US$185 billion by 2025, a 10.3 per cent compound annual growth rate, according to analysis by HSBC.Adrian Li Man-kiu, deputy chief executive, Bank of East Asia. Photo: Jonathan Wong alt=Adrian Li Man-kiu, deputy chief executive, Bank of East Asia. Photo: Jonathan WongHong Kong's investors are likely to be more active users of the Wealth Management Connect than mainlanders, at least initially, said analysts.Fixed income products are likely to be most in demand, given the widening interest rate spread versus offshore wealth management products. As the global hunt for yield accelerates with most of the developed world's interest rates around zero, mainland China's fixed-income wealth management products are looking increasingly attractive.Hong Kong investors already have access to the mainland's equity markets via a mutual recognition scheme called Stock Connect, but the fixed-income equivalent, Bond Connect is reserved for institutional investors only.This again puts banks such as HSBC and Bank of China (Hong Kong) in strong positions, as both have strong debt franchises and can work with their mainland China businesses to distribute products.Foreign banks from 13 countries and regions had established a total of 155 business institutions in Guangdong province, excluding Shenzhen, as of February.HSBC's Peter Wong sees potential in bay area. Photo: Jonathan Wong alt=HSBC's Peter Wong sees potential in bay area. Photo: Jonathan WongGoldman Sachs analysts highlighted China Merchants Bank and Ping An Bank, both headquartered in Shenzhen, as retail banks with strong networks in Guangdong. Both also have branches in Hong Kong.Privately owned banks had a 41 per cent share of mainland China's US$3 trillion market of wealth management products as of June last year, more than 37 per cent commanded by the large state-owned banks, Goldman Sachs said. The market on the mainland is heavily skewed towards fixed-income products.The financial zone in Foshan Nanhai Gaoxin district, Guangzhou. Photo: Xiaomei Chen alt=The financial zone in Foshan Nanhai Gaoxin district, Guangzhou. Photo: Xiaomei ChenThe flip side of this neat arrangement is that banks without a partner in China are at a disadvantage. Boutique private banking players with no mainland partner, for example, could struggle to capitalise on the scheme.A European private boutique bank executive, who declined to be named, said the scheme would be of little benefit to small private banks which have a limited presence in mainland cities.He also said the scheme was unappealing for his clients as it does not allow mainlanders to remit funds outside Hong Kong. Once the clients sell an investment made via the scheme, the money must return to the mainland. This also means financial firms not covered by the plan will not be able to capture any funds indirectly.Private banking and wealth management boutiques with a presence in Hong Kong include Swiss-headquartered Pictet and Lombard Odier, as well as Liechtenstein-based LGT.Smaller private banks could still seek a tie-up with a firm in the bay area, said Lee.Also, regulators' emphasis on purely plain vanilla products means the scheme is likely to be less relevant to the largest private banking firms. Swiss banks UBS and Credit Suisse serve billionaires with products at the more complex and riskier end of the range.Insurance companies are also unlikely to get a windfall from the Wealth Management Connect scheme. Savings-oriented insurance products probably won't be included in the scheme, said analysts."It's unlikely to include regular premium policies, as it would require significant annual expansion of fund flow quota," said Thomas Wang, an analyst at Goldman Sachs.The Wealth Management Connect scheme differs from the Stock and Bond Connects in that distribution is via banks only " meaning this time brokerage houses will also miss out.The more than 600 stockbrokers in Hong Kong were disappointed, according to Tom Chan Pak-lam, chairman of the Hong Kong Institute of Securities Dealers."We want to urge the Hong Kong government to urge the mainland authorities to expand the sale points to brokers," Chan said.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

  • Financial Times

    Gove announces package to strengthen borders after Brexit

    Michael Gove, cabinet office minister, has announced a £705m package of measures to strengthen Britain’s borders, claiming it would help the UK “seize the opportunities” of Brexit. Mr Gove has had to delay by six months the full implementation of border controls from January 1 — when the Brexit transition period ends — after he claimed Covid-19 had held up preparations.

  • Reuters

    Hungary imposes border checks, quarantine to prevent spread of virus

    Hungary has imposed new restrictions on cross-border travel as of next Wednesday in order to prevent the spread of the coronavirus after a surge in new cases in several countries, Prime Minister Viktor Orban's chief of staff said on Sunday. Under the new rules, Hungarian nationals returning from high risk countries listed as "yellow" and "red" will have to go through health checks at the border and will have to go into quarantine.

Usando Yahoo accetti che Yahoo e i suoi partners utilizzino cookies per fini di personalizzazione e altre finalità