Jun.08 — Vanda Insights Founder & CEO Vandana Hari believes crude had already priced in the outcome by OPEC+ and its allies to extend production cuts. She was speaking with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.”

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Shares in Emergent BioSolutions Inc. (EBS) dropped 14% in Friday’s after-hours trading following the disclosure of two of its directors divesting shares.According to a SEC filing, Emergent Director Ronald Richard sold 6,572 shares on Wednesday at an average price of $87.514, for a total of about $575,142. Following the share sale Richard owns 4,269 shares. The stock rose 2.5% to $86.91 on Friday before dropping to $75 in post-market trading.In addition, Director Sue Bailey divested 5,322 shares at an average price of $87.503, generating about $465,691 from the sale. Bailey now still has 37,260 shares in the company.Earlier this month, Emergent BioSolutions announced that it is joining the U.S. government’s warp speed program in a public-private partnership for COVID-19 vaccine development and production. The task order valued at about $628 million is for rapid domestic manufacturing of leading COVID-19 vaccine candidates through 2021. The global life sciences company will provide molecule-to-market contract development and manufacturing (CDMO) services and commit to manufacturing capacity, valued at about $542.7 million.Shares in Emergent have this year already soared 61%. Despite the rally, Guggenheim analyst Dana Flanders still sees room for more gains ahead.Following the task order, Flanders last week raised the stock’s price target to $101 (16% upside potential) from $81 and keept a Buy rating.This "landmark" partnership is "tangible evidence" of Emergent's contract development and manufacturing organization and capability, Flanders wrote in a note to investors, adding that he believes that the CDMO business opportunity is growing and durable.Overall, the stock boasts 4 Buy ratings versus 1 Hold rating adding up to a Strong Buy consensus. Meanwhile, the $88 average analyst price target sees little upside potential for the shares in the next 12 months. (See EBS stock analysis on TipRanks). Related News: Teva Wins Court Ruling Against Opiant, Emergent Bio On Narcan Nasal Spray 5 Promising Covid-19 Vaccines Picked For Trump’s Operation Warp Speed Think Novavax Has Surged Enough for Now? Think Again, Says 5-Star Analyst More recent articles from Smarter Analyst: * Syracuse Is Said To Be In Talks To Buy Bankrupt J.C. Penney; Shares Leap 55% * Idexx Unit Gets European Union Regulatory Nod For Covid-19 Test Kit * Airbus Gets No New Aircraft Orders In May Amid Aviation Crisis * AstraZeneca Approached Gilead For Potential Merger – Report

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U.S. utility PG&E Corp. (PCG) is said to be preparing a $11 billion debt-financing package as it embarks on a plan to exit from its bankruptcy, an investor involved with the company’s funding plan told Reuters on Friday. Shares jumped 5.5% to close at $12.52.According to George Schultze, founder of Schultze Asset Management, which invests in distressed securities, the debt financing plan, which will consist of high-yield bonds and term loans, is part of the company’s previously announced plan to raise as much as $27 billion in funding from future public offerings. It includes $4 billion of high-yield bonds and a $750 million term loan led by JPMorgan Chase & Co., Bloomberg said in a separate report.PG&E’s aims to come out of bankruptcy by June 30 so it will be eligible to receive a state-backed fund that would help utilities cope with the financial fallout suffered from wildfires.“While the company comes out of this slightly overleveraged, it has a strong business and will be able to pay down the debt,” Schultze said. “The debt market is so hot right now that I’m sure this offering will be oversubscribed.”PG&E seeks to raise most of the remaining $16 billion in proposed future public offerings from equity – possibly at a discount to where PG&E’s peer group is trading at the time of emergence from bankruptcy, Schultze said.In January last year, the utility filed for bankruptcy, citing potential liabilities exceeding $30 billion from major wildfires sparked by its equipment in 2017 and 2018.It looks like some investors are welcoming PG&E’s plan to emerge out of bankruptcy. Since hitting this year’s low in March, shares have surged more than 70%.Merrill Lynch analyst Julien Dumoulin Smith on Friday reiterated a Buy rating on the company with a $14 price target, saying that with approvals and a reorganization plan in place, the stock offers a “much cleaner story”.“Under conservative assumptions we calculate shares as offering compelling total return prospects with additional catalyst potential if the backstop agreement were amended to provide better terms,” Dumoulin Smith wrote in a note to investors.Overall, the Wall Street analyst community is cautiously optimistic on the stock. The Moderate Buy consensus consists of 5 Buy versus 3 Hold ratings. The $14.56 average price target implies shares may gain another 16% in the coming 12 months. (See PG&E stock analysis on TipRanks).Related News: Hertz Sinks 36% In After-Market On Bankruptcy Protection Filing Colombian Carrier Avianca Files for Bankruptcy Protection Due to Coronavirus Woes S&P Cuts American Airlines’ Credit Rating To ‘B-‘ from ‘B’ On Cash Flow Deficit Concern More recent articles from Smarter Analyst: * Syracuse Is Said To Be In Talks To Buy Bankrupt J.C. Penney; Shares Leap 55% * Idexx Unit Gets European Union Regulatory Nod For Covid-19 Test Kit * Airbus Gets No New Aircraft Orders In May Amid Aviation Crisis * AstraZeneca Approached Gilead For Potential Merger – Report

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Jun.08 — The U.K. is pressing ahead with a two-week quarantine on international arrivals, a move British Airways and other carriers say will devastate tourism. Bloomberg’s Siddharth Philip reports on “Bloomberg Markets: European Open.”

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Barely three months ago, Serge Dumas had one problem: how to keep up with record demand for the metal fasteners and bolts his small aerospace supply firm manufactures just north of Toulouse. Now, the head of Gillis Aerospace is wondering how to keep his 45 employees busy as Europe’s aerospace capital reels from plummeting jetliner demand caused by the coronavirus crisis. Gillis Aerospace, with annual revenues of 5 million euros, is one of thousands of small to medium-sized firms hurt by the crisis as the French government and private lenders finalise a 1-billion-euro fund to help the sector.

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Jun.08 — New Zealand will remove social distancing requirements after reporting zero active cases of Covid-19, indicating it has achieved its aim of eliminating the virus. Prime Minister Jacinda Ardern said Monday at a briefing that all remaining restrictions on people and businesses, other than strict border controls to keep the virus out, will be lifted at midnight tonight, paving the way for a resumption of normal life.

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Jun.08 — Yamini Aiyar, president of think tank Centre for Policy Research, examines Indian Prime Minister Narendra Modi’s response to the coronavirus outbreak. India has been under a stringent nationwide lockdown since late March, even though some restrictions were eased beginning April 20 to allow select industries to resume operations. The government will begin a phased lifting of the curbs from June 8. Aiyar spaeks on “Bloomberg Markets: Asia.”

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At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]

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Jun.07 — Luya You, transportation analyst at Bocom International, discusses the prospects for Chinese airlines. China will ease a ban on flights to the country by foreign airlines on June 8. You speaks with Haslinda Amin and Yvonne Man on “Bloomberg Markets: Asia.”

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In this article you are going to find out whether hedge funds think Bed Bath & Beyond Inc. (NASDAQ:BBBY) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the […]

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