Author: therawinformant

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says…

from Yahoo Finance https://ift.tt/2C0IzfX

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]

from Yahoo Finance https://ift.tt/3j1MVE0

Coupa Software (COUP, daily) found short-term support at its 21-day line.

from Yahoo Finance https://ift.tt/32jEC0k

On this episode of Yahoo Finance Presents, Secretary Ben Carson joined Yahoo Finance’s Sibile Marcellus to discuss the state of affairs in America, including the current coronavirus pandemic, Bank of America’s statement regarding the Housing and Urban Development’s disparate impact rule, President Trump and Dr. Fauci, as well as racial inequality.

from Yahoo Finance https://ift.tt/2OnqStw

from Yahoo Finance https://ift.tt/3j0Hi9c

Akebia Therapeutics (AKBA) has announced the initiation of an investigator-sponsored study evaluating the use of vadadustat as a potential therapy to prevent and lessen the severity of acute respiratory distress syndrome (ARDS), a complication of COVID-19 infection.The randomized, double-blind, placebo-controlled study is intended to evaluate the safety and efficacy of vadadustat in up to 300 adult patients who have been hospitalized at Memorial Hermann-Texas Medical Center for hypoxemia due to COVID-19.Patients will be dosed with vadadustat or a placebo starting within 24 hours of hospital admission and continuing for up to 14 days. This study is being conducted by The University of Texas Health Science under a U.S. Food and Drug Administration Investigational New Drug (IND) application.“Right now, we can support patients with COVID-related ARDS with supplemental oxygen and different forms of ventilation, but don’t yet have effective treatments to protect their lungs and help them get better,” said one of the principal investigators, Dr. Bentley J. Bobrow.“Our goal is to prevent patients with the virus from progressing to requiring a ventilator and, if they do require a ventilator, to decrease the time they are on that ventilator.” ARDS can result in a rapid decline of respiratory function and death.Akebia recently reported positive primary and key secondary efficacy and safety endpoint results from INNO2VATE, the first of its two global Phase 3 cardiovascular outcomes programs. Vadadustat is approved as a treatment for anemia due to chronic kidney disease in both dialysis-dependent and non-dialysis dependent adult patients in Japan, but not yet in the US.An investigational oral HIF-PHI, vadadustat leverages the HIF mechanism and is designed to mimic the body’s physiologic response to low oxygen e.g. at high-altitudes. At higher altitudes, the body responds to lower oxygen availability with stabilization of HIF, which can lead to increased red blood cell production and improved oxygen delivery to tissues.Shares in Akebia have surged 85% year-to-date, boosted by positive top-line results from the vadadustat trials. HC Wainwright analyst Ed Arce reiterated a buy rating on the stock and $17 price target (46% upside potential) following the recent Japan approval.“With vadadustat’s first regulatory approval in hand, we continue to expect positive data from the Phase 3 PROTECT program to support vadadustat’s NDA [new drug application] filing around year end 2020, with its FDA approval and market launch around mid-2021 assuming the acquired Priority Review Voucher is utilized” commented Arce.Overall analysts have a cautiously optimistic Moderate Buy consensus on Akebia with an average analyst price target of $16 (36% upside potential).(See AKBA stock analysis on TipRanks)Related News: Abbott Labs, Edwards Lifesciences Settle Heart Device Patent Disputes Aldeyra Spikes 10% In Pre-Market On New Perceptive Stake Equillium Explodes 260% On Positive Covid-19 Results; India Approval More recent articles from Smarter Analyst: * Tech Giants Join Lawsuit Against Trump Admin’s New Student Visa Rules * IMV Pops 134% In Pre-Market On “Rapid Progress” Of Covid-19 Vaccine Development * Google In Talks To Buy $4B Stake In India’s Jio Platform – Report * Tesla Climbs 6% In Pre-Market, Boosted By ‘Accelerating’ China Projects

from Yahoo Finance https://ift.tt/3j4jlOr

(Bloomberg) — After securing more than $20 billion in investment from the likes of Google and Facebook Inc., Indian billionaire Mukesh Ambani laid out a vision for his digital venture as he seeks to build a homegrown technology titan that could rival global giants.Outlining plans for Jio Platforms Ltd. at the annual shareholders meeting of his conglomerate Reliance Industries Ltd. on Wednesday, Asia’s richest man talked mostly technology. He unveiled a slew of services, including a fifth-generation wireless network as early as next year and a mega video-streaming platform that will bring Netflix, Disney+ Hotstar, Amazon Prime and dozens of other TV channels under one umbrella.“I believe that the time has come for a truly global digital product and services company to emerge from India, and to be counted among the best in the world,” the tycoon told the 300,000-plus people who logged into the virtual conference from 41 countries.Ambani, 63, who inherited an oil refining and petrochemicals empire after his father’s death in 2002, is now betting on technology for future growth in a pivot away from the legacy business. Jio Platforms, unveiled last year is now at the center of his ambitions to tap a market of more than 1 billion people, who are increasingly embracing mobile devices and data plans to shop online. Jio is eyeing an opportunity to shake up retail, content streaming, digital payments, education and health care.Giant RivalsThose plans would put Jio in direct competition with e-commerce giant such as Amazon.com Inc. and Walmart Inc.’s local operations. The potential for growth in India has helped Jio attract some of Silicon Valley’s top names as investors. Alphabet Inc.’s Google is the latest to come on board, with Wednesday’s announcement of a $4.5 billion investment for a 7.7% stake that values the digital venture at about $58 billion.Reliance has received strong interest from investors for its retail unit and plans to induct global partners in the coming quarters, Ambani said without sharing any more details.Here are some of the plans laid out by Ambani:Google and Jio are partnering to build an Operating System that could power a cheap 4G/5G smartphone.JioMart, the online shopping portal, and WhatsApp will be working closely to create growth opportunities for millions of Indian small merchants and enable customers seamlessly transact with mom-and-pop storesJio Glass to bring teachers and students together in 3D virtual rooms and conduct holographic classes through our Jio Mixed Reality cloud in real-timeBroadband for enterprises and small businesses; Narrowband Internet-of-Things (NBIoT)Jio, which started out as a wireless carrier as its first building block back in 2016, will roll out its 5G network once airwaves are available, according to Ambani. Unlike other carriers, Jio will be using a technology developed locally for 5G, Ambani said, leaving it immune to political disputes linked to Chinese equipment vendors that global telecommunications companies are embroiled in.Ambani’s speech touched on the oil business closer to the end and confirmed that the stake sale transaction in its oil-and-chemicals division to Saudi Arabian Oil Co. hadn’t progressed as planned. The much-awaited deal update triggered a slump in Reliance’s shares.Reliance stock fell as much as 6.2% Wednesday, the worst intraday loss since May 12, paring gains from a rally spurred by the investments in Jio. The shares are still more than double their value when they reached a low on March 23.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.

from Yahoo Finance https://ift.tt/3fyYY9N

from Yahoo Finance https://ift.tt/32kqeFp

It is hard to get excited after looking at Biogen's (NASDAQ:BIIB) recent performance, when its stock has declined 17…

from Yahoo Finance https://ift.tt/3gWBc80

Whilst it may not be a huge deal, we thought it was good to see that the British American Tobacco p.l.c. (LON:BATS…

from Yahoo Finance https://ift.tt/2WlbJxb