April 2, 2020
Investors’ optimistic start to the year seems like a long time ago now. Global stocks fell 20% last quarter, losing around $20 trillion in value in what was their worst run since 2008. US government bonds, on the other hand, had one of their best quarters as investors clamored for their relative safety.
April 2, 2020
Immunomedics said recently that it was on target to obtain FDA approval for sacituzumab govitecan. While Cowen analyst Phil Nadeau remains confident the ASCENT trial will succeed and that sacituzumab will become standard of care in triple-negative breast cancer.
April 2, 2020
April 2, 2020
The silver lining of economic recessions is they can often give birth to new technologies and ways of doing business.
April 2, 2020
Recruitment group Hays has announced an equity placing, targeting gross proceeds of around £200m. It hopes this funding will provide additional liquidity buffer and allow the group to pursue organic growth opportunities with new and existing blue-chip clients once the markets stabilise. At end-March 2020, its net cash position was £35m versus £13.2m at end-December 2019. The company has committed borrowing facilities of £210m, of which around £165m is currently undrawn.
April 1, 2020
In a recent report, investment banking giant Goldman Sachs picked a handful of stocks that should vaccinate investors against the coronavirus pandemic – and even some that could help them come out stronger.
April 1, 2020
April 1, 2020
As UK banks temporarily suspend all dividend payments, we discuss the effect coronavirus could have on a vital source of income for investors.
April 1, 2020
Britain’s largest banks HSBC Holdings, Barclays, Lloyds Banking Group, Royal Bank of Scotland and Standard Chartered have scrapped dividend payments after pressure from the Bank of England’s Prudential Regulation Authority to preserve capital. The banks have agreed to cancel remaining payouts for 2019, not pay any other dividends this year and suspend any share buyback programmes. Barclays chairman Nigel Higgins says: “These are difficult decisions, not least in terms of the immediate impact they will have on shareholders. The bank has a strong capital base, but we think it is right and prudent, for the many businesses and people that we support, to take these steps now.”
March 31, 2020
The shares of Zoom Video Communications ZM 3.85% dropped 6.14% lower at Monday’s close compared to the day’s open at $160.76.The drop came as the New York Times reported that the office of the New York Attorney General is probing the company’s data privacy and security practices.
March 31, 2020
March 31, 2020
As if it wasn’t mortifying enough that EasyJet had to ground its entire coronavirus-anchored fleet on Monday: the UK airline’s biggest shareholder now wants it to back out of an almost $6 billion deal too.
March 31, 2020
March 31, 2020
March 31, 2020
Oil major Royal Dutch Shell has warned of after-tax impairment charges of between $400-800m in the first quarter of this year, due to changes in the oil price. The company says each $10 movement in the price of a barrel of Brent crude hurts it by about $6bn a year. It says the coronavirus is causing “significant uncertainty” with regards to prices and demand for oil, gas and related products. In addition, “recent global developments and uncertainty in oil supply” have caused “further volatility” in commodity markets.
March 30, 2020
March 30, 2020
March 30, 2020
As a result of people playing more video games, the major video game stocks have held up well comparatively to the market as investors look for beneficiaries of the current COVID world.
March 30, 2020
Low-coat airline easyJet has grounded its entire fleet of aircraft, due to the “unprecedented travel restrictions” and national lockdowns imposed in response to the coronavirus crisis. Cabin crews will be furloughed for two months from April 1 on 80% of their average pay under the Government’s job retention scheme. The group will continue to work with the Government to rescue Britons stranded abroad, having already returned home 45,000 customers on more than 650 rescue flights. It says there is no certainty as to when scheduled flights will resume.
March 27, 2020
March 27, 2020
March 27, 2020
Royal Mail says its UK parcels, international and letters business is likely to be “materially loss-making” in 2020-21, while profitability will be “significantly reduced” at its GLS logistics operations. It says advertising mail has been “significantly impacted” by the coronavirus crisis over the last two weeks as marketing campaigns have been delayed or cancelled. It also anticipates that restrictions on individuals and businesses will have a “negative impact” on unsorted and stamped mail. The company says it will now take longer than expected to achieve the targets laid out in its “Journey 2024” business transformation plan. It is reviewing the plan, will not pay a final dividend for 2019-20 and is suspending guidance for 2020-21 and beyond.
March 26, 2020
Gains by S-REIT Indices on 24 March indicate the session was amongst the five strongest sessions on record for S-REITS since their inception in 2002.
March 26, 2020
Ford (F) trending lower after credit rating cut to junk status by S&P. Check out this morning’s top movers from around Wall Street, compiled by The Fly.
