Category: Stock Market

Those following along with NantKwest, Inc. (NASDAQ:NK) will no doubt be intrigued by the recent purchase of shares by…

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

Yahoo Finance’s Rick Newman joins The First Trade to discuss Ford’s latest partnership with Disney to unveil its Bronco SUV in July.

from Yahoo Finance https://ift.tt/3ip8azq

from Yahoo Finance https://ift.tt/2Zx3ija

If you are looking for the best ideas for your portfolio you may want to consider some of Amana Mutual Funds top stock picks. Amana Mutual Funds, an investment management firm, is bullish on Intuit Inc (NASDAQ:INTU) stock. In its Q4 2019 investor letter – you can download a copy here – the firm discussed […]

from Yahoo Finance https://ift.tt/3dXs2GB

from Yahoo Finance https://ift.tt/3ioP24v

Amanda Agati, PNC Chief Investment Strategist, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss the latest market action.

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

The coronavirus marches on, but healthcare names all over the world are fighting back. Earlier this week, Gilead Sciences (GILD), the manufacturer of COVID-19 antiviral drug remdesivir, revealed the pricing plan for the treatment. A five-day course of remdesivir will be sold to governments of developed nations, including the US, for a price of $2,340 ($390 per vial). US private health insurers will need to fork up $3,120 for the course ($520 per vial). Other countries, though, will find it difficult to get hold of the treatment over the next three months. The Trump administration has purchased over 500,000 doses, which amounts to July’s total production, and 90% of Gilead’s expected output in August and September. Overall, in 2020, Gilead expects to produce up to 3 million courses. Next year, Gilead has set its sights on manufacturing between 600,000 and 800,000 courses a month. The news was greeted with enthusiasm by investment firm Leerink Partners. Firm analyst Geoff Porges increased the revenue forecast for Gilead “by $800 million to $1.8 billion in each of the next three years.” The 4-star analyst expects remdesivir to bring in $1.5 billion of revenue in 2020, rising to $8.5 billion in 2021, and $8.6 billion by 2023. Hopefully, remdesivir’s impact will match that of the 2014 launch of its first HCV medicine, Sovaldi, when GILD’s share price increased by 54% in the three quarters following the launch. Porges said, “We regard the price and its announcement positively, as it establishes a responsible but still profitable benchmark for COVID treatment pricing generally and for Gilead specifically. The strengthened RDV supply together with higher RDV pricing for ex-US markets and stockpiling has significantly increased our forecasts for RDV.” However, Porges tempered expectations by adding, “This forecast still has massive uncertainty given the varying trajectory of the pandemic around the world, the outlook for vaccines, the prospects for alternative and additional medicines, and the appetite of government agencies for stockpiling.” As a result, Porges reiterated an Outperform rating and boosted the price target to $95 (up from $94). Gains of 25% could be heading investors’ way should Porges’ forecast materialize over the coming months. (To watch Porges’ track record, click here) The rest of the Street takes a cautiously optimistic approach to Gilead. A Moderate Buy consensus rating is based on 11 Buys, 12 Holds and 4 Sells. There’s upside of 6%, should the $80.22 average price target be met in the year ahead. (See Gilead stock analysis on TipRanks)

from Yahoo Finance https://ift.tt/2C1qJsA

The U.S. Treasury said on Thursday it has agreed on terms for government loans with five U.S. carriers, including American Airlines Group Inc. The Treasury said it had signed letters of intent with American, Frontier Airlines, Hawaiian Airlines, SkyWest Airlines, and Spirit Airlines under a $25 billion emergency loan program created by Congress in March. American said on Thursday it expects to close on a $4.75 billion Treasury loan in the third quarter on top of $5.8 billion in payroll assistance it was previously awarded.

from Yahoo Finance https://ift.tt/3gwBr9N

The U.S. economy regained millions more jobs in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. At 4.8 million, the net addition in payrolls was handily a record single-month gain, and topped consensus expectations.

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

Facebook Inc (NASDAQ: FB) CEO Mark Zuckerberg weighed in on the growing advertising boycott centered around the company and told employees that he was reluctant to bow to pressure and was not worried about the withdrawal of advertisers.What Happened The Facebook chief executive said, "We're not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue," reported MarketWatch.The comments by Zuckerberg were first reported by The Information, an online tech publication. On the topic of acceding to the demand of the boycotters, Zuckerberg said, "Usually I tend to think that if someone goes out there and threatens you to do something, that actually kind of puts you in a box where in some ways it's even harder to do what they want because now it looks like you're capitulating, and that sets up bad long-term incentives for others to do that [to you] as well."Why It Matters Companies such as Verizon Communications (NYSE: VZ), VF Corp, (NYSE: VFC) Starbucks Corporation (NASDAQ: SBUX), Unilever NV (NYSE: UN) are either boycotting social media or have joined the StopHateForProfit campaign, supported by multiple civil rights organizations.The campaign claims 70% of Facebook's $70 billion is made through advertising and is urging advertisers to take a stand against hate speech on the social network. Francis Corbett, a Silicon Valley communications strategy consultant, told MarketWatch, "By pulling ads, they save money and make a low-risk statement that results in positive publicity and marketing for their brands among constituents."Rohit Kulkarni, executive director at MKM Partners, claimed that the boycott would affect less than 5% of Facebook's revenue.Price Action On Thursday, Facebook shares closed 4.62% higher at $237.55.Image: WikimediaSee more from Benzinga * Facebook Ready For An Audit On Hate Speech In An Effort To Address Advertiser Concern * Amazon's Twitch, Reddit Ban Trump Related Content And Forums(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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