Author: therawinformant

Vermont Senator Bernie Sanders proposed a new one-time tax called the ‘Make Billionaires Pay’ Act which would tax 60% of wealth gains made between March 18 and January 1, 2021. Yahoo Finance’s The Final Round panel discusses the details and what it means for big name businesses.

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It looks like WestRock Company (NYSE:WRK) is about to go ex-dividend in the next 3 days. This means that investors who…

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The two companies have explored converting retail space formerly occupied by J.C. Penney Co Inc and Sears Holdings Corp into Amazon distribution centers, while in some cases, Simon and Amazon explored buying out occupied space from the retailers, the report said, citing sources. Simon’s discussions with Amazon have been under way for months and began before the coronavirus pandemic, according to the report.

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(Bloomberg) — Mall operator Simon Property Group Inc. has been in talks with Amazon.com Inc. to turn some empty store space formerly occupied by anchor tenants such as J.C. Penney Co. Inc. and Sears Holdings Corp. into Amazon fulfillment centers, Dow Jones reported, citing people familiar with the matter.The discussions started before the coronavirus pandemic, with the two companies exploring the idea of buying out occupied space from the retailers in some cases.Amazon has also been in talks with multiple mall landlords about putting its coming grocery-store chain in J.C. Penney locations, a person familiar with the matter told Dow Jones, though it couldn’t be determined if that included Simon malls.It wasn’t clear how many stores are under consideration for Amazon, and it is possible that the two sides could fail to reach an agreement, the newswire said.Shares of Simon have fallen 58% so far this year. It’s partnering with Brookfield Property Partners LP to jointly bid for J.C. Penney, which filed for bankruptcy in May.Turning over anchor store spaces in prime locations to Amazon would represent a major shift in the mall business. If Simon rents the space as fulfillment centers, it would probably accept a considerable discount to what it could charge another retailer, Dow Jones said. The choice also won’t please nearby tenants: fulfillment centers draw less foot traffic to the mall, and it would help make Amazon, seen as a disruptor of retail businesses, even more competitive.Even before the pandemic, Amazon has already bought the sites of some failed malls and re-purposed them to distribution centers. The e-commerce giant continues to open up new fulfillment centers to meet the demand for delivery, and its virus protection for warehouse workers has come under scrutiny.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.

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Vivint Smart Home Founder and CEO Todd Pedersen joins Yahoo Finance’s Zack Guzman to discuss the company’s latest quarterly earnings results and outlook amid COVID-19.

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Shares in Biogen leaped 10% on Friday after the company said that the U.S. Food and Drug Administration (FDA) granted aducanumab, its investigational treatment for Alzheimer’s disease, priority review.The stock jumped to $305.71 as Biogen (BIIB) and Japan’s Eisai announced that the FDA accepted their Biologics License Application (BLA) for aducanumab. The priority review speeds up the FDA review with an action date for a decision set for March 7. The FDA stated that, if possible, it plans to act early on this application under an expedited review.If approved, aducanumab would become the first therapy to reduce the clinical decline of Alzheimer’s disease and would also be the first therapy to demonstrate that removing amyloid beta resulted in better clinical outcomes. Aducanumab is a human monoclonal antibody designed to treat early Alzheimer’s disease.“The FDA’s acceptance of the aducanumab BLA with priority review is an important step in the path to potentially having a treatment that meaningfully changes the course of Alzheimer’s disease,” said Biogen CEO Michel Vounatsos. “We believe that aducanumab marks the beginning of a new era of potential treatments for Alzheimer’s disease that will inspire even more discovery and innovation to bring hope to those affected by this devastating disease.”Biogen said the FDA had decided to speed up the review without the company even having to use its priority review voucher for the aducanumab BLA. The FDA also stated that it is currently planning to hold an advisory committee meeting for this application on a yet-to-be-determined date.J. P. Morgan analyst Cory Kasimov maintained a Hold rating on the stock with a $279 price target, saying that the FDA move is potentially a favorable signal, but nevertheless he believe that the planned advisory committee is still likely the “key gating factor”. (See BIIB stock analysis on TipRanks)“Overall, with clear visibility on timelines for a regulatory decision, we think that this acceptance is likely to finally kick off a fear of missing out (FOMO) trade (which we feel like we’ve been talking about for years)…at least until we get closer to the advisory committee,” Kasimov wrote in a note to investors. “At this point we still consider the ultimate fate of aducanumab to more or less be a coin toss."Meanwhile, the rest of the Street is cautiously optimistic on the stock. The Moderate Buy analyst consensus shows 10 Buys versus 15 Holds and 3 Sells. With shares up 3% so far this year, the $316.82 average price target implies a modest 3.6% upside potential to current levels.Related News: Amarin’s Vascepa To Take Part In Covid-19 Study In Adults With Heart Disease Moderna Secures $400M In Deposits For Supply Of Covid-19 Vaccine Candidate Teladoc To Snap Up Livongo In $18.5B Virtual Care Merger Deal More recent articles from Smarter Analyst: * ICE Buys Ellie Mae In $11B Cloud Mortgage Deal; Analysts Stay Bullish * Billionaire Buffett Buys Back $5.1B In Berkshire Stock As 2Q Profit Beats * Twitter Held Early Talks To Buy TikTok's US Operations – Report * Amarin’s Vascepa To Take Part In Covid-19 Study In Adults With Heart Disease

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The markets closed mixed with the Dow and S&P 500 closing in the green after Friday’s trading session. The markets were primarily driven by a better than expected July Jobs Report, escalating tensions between the U.S. and China, and disappointing news from the stimulus conversations. The Final Round panel discusses the latest.

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Yahoo Finance’s On the Move panel discuss today’s Stocks on the Move; Biogen and Illumina.

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When President Donald Trump signed executive orders targeting TikTok and WeChat (and by default their respective parent companies, ByteDance and Tencent), the gaming industry was rattled by the move. That’s because Tencent has a stake in the developers of some popular games, including “League of Legends” (Riot Games) and “Fortnite” (Epic Games). Yahoo Finance’s tech editor Dan Howley explains what the potential ban could mean for gaming companies.

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