Canadian gold producer Yamana Gold (AUY) is seeking a listing in the UK, according to a report from the Financial Times. The company is currently listed in Toronto and New York.The $5.3B company has applied for a standard listing and expects its shares to start trading on the London Stock Exchange in the next couple of months, according to the report.“Our due diligence tells us that there is billions of dollars of capital available in London that we should be exploiting,” founder Peter Marrone explained to the Financial Times. “This is an ideal time to be joining.”After Rangold Resources delisted last year, he believes there is a ‘void’ in London for a ‘pure-play’ gold company, – and says the company’s Americas focus (where it has five gold mines) and strong dividend record (paying almost $1B since 2007) will appeal to investors.Year-to-date, the price of gold has surged just over 19%, while Yamana Gold has seen shares explode by 41%.Analysts have a cautiously optimistic Moderate Buy consensus on AUY, with an average analyst price target of $5.19. Given the recent rally, that now indicates 7% downside potential from current levels. (See Yamana Gold’s stock analysis on TipRanks).Canaccord Genuity analyst Carey MacRury reiterated a buy rating on the stock after Yamana Gold reported its second quarter results.Yamana announced Q2/20 GEO production of 183.5koz, largely in line with MacRury’s estimate of 185.4koz. Gold production of 164.1koz and silver production of 2,008koz were also largely in line with estimates of 165.0koz and 2,133koz.“Malartic and Jacobina performed better than our forecasts and were offset by lower production at Cerro Moro, El Penon and Minera Florida” the analyst explained.Plus Yamana reiterated its 2020 production guidance with 54% of production expected in H2/20, after previously revising its guidance to reflect government-mandated restrictions related to COVID-19 at Canadian Malartic and Cerro Moro.“With a better understanding of the impacts of COVID-19, Yamana updated its cost guidance for H2 to $1,020-$1,060 per GEO. The company expects Q4 to have the best cost profile, along with the highest production” MacRury noted.Related News: National General Pops 69% In Pre-Market On $4B Takeover Deal By Allstate Exelon Unit To Pay $200 Million Fine To Settle Long-Running Bribery Case Billionaire Buffett’s Energy Unit To Buy Dominion Energy Assets For $4B More recent articles from Smarter Analyst: * Quest Scores US Nod For Covid-19 Test Pooling; Speeding Up Response Times * Google To Ban Ads Promoting ‘Dangerous Content’ On Covid-19 Theories * Pfizer, BioNTech Ink UK Supply Deal For 30M Covid-19 Vaccine Doses * EBay Seeks To Retain Stake in Classifieds Unit, Challenging Prosus Bid; Top Analyst Raises PT

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AbbVie’s (ABBV) Allergan has told Molecular Partners that it will withdraw application filings with both the European Medicines Agency (EMA) and the Japanese Regulatory Agency (PMDA) for Abicipar pegol, a novel DARPin therapeutic for patients with neovascular (wet) age-related macular degeneration (nAMD).Age-related macular degeneration (AMD) occurs when a part of the retina called the macula is damaged, resulting in disturbance to the central visual field. Wet nAMD is less common but much more serious than dry AMD. Wet AMD is when new, abnormal blood vessels grow under the retina, causing scarring of the macula.In June 26, the U.S. Food and Drug Administration (FDA) rejected the Biologics License Application (BLA) for Abicipar pegol.According to the FDA’s Complete Response Letter, the rate of intraocular inflammation observed following administration of Abicipar pegol 2mg/0.05 mL resulted in an unfavorable benefit-risk ratio in the treatment of nAMD.“We continue to believe in the need for treatment options that provide patients with reliable vision gains and less frequent dosing for the treatment of nAMD,” said Michael R. Robinson of Ophthalmology at AbbVie. “We are committed to working with the FDA to determine the appropriate next steps for Abicipar pegol.”The global need for eye health services is projected to increase dramatically in the coming decades, said AbbVie, posing a considerable challenge to healthcare systems.“Through building a strong, active pipeline, which is focused on significant unmet needs in eye care, AbbVie is committed to developing and delivering sustainable solutions that make a remarkable impact on people’s lives” the company stated.Allergan in-licensed exclusive global rights to the candidate from Molecular Partners in 2012 in a deal worth up to $420M.Shares in AbbVie are trading up 14% year-to-date, and the stock has a bullish Strong Buy Street consensus. Indeed out of 14 analysts covering the stock, only one is staying on the sidelines. Meanwhile the average analyst price target of $110 indicates 9% further upside potential lies ahead. (See ABBV stock analysis on TipRanks)“Our investment thesis on ABBV is based on our view that the company will generate double-digit near-term growth on the back of P&L catch-up in 2021 and strength of core franchises” commented RBC Capital analyst Randall Stanicky.He has a buy rating on the stock and $125 price target, arguing “While we see a step-down in 2023 upon HUMIRA biosimilar entry, it should be manageable with growth off of that trough year beyond. We do not think current valuation reflects that outlook and see upside to shares from here.”Related News: Pfizer, BioNTech Ink UK Supply Deal For 30M Covid-19 Vaccine Doses Moderna Soars 16% As Covid-19 Vaccine Shows Strong Immune Response GSK Buys 10% Stake In Germany’s CureVac To Develop mRNA Vaccines More recent articles from Smarter Analyst: * Ebay On Cusp Of Selling Classified-Ads Unit To Adevinta – Report * Netflix Aims For Franchise With Record $200M Movie * Disney Curtails FB Marketing, Joins Growing List of Ad-Boycotters * KFC Wants To Bring Lab-Grown Meat To Its Fast Food Chain

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Netflix Inc. (NFLX) has agreed to fund a movie for $200 million, the highest single-movie budget ever for the popular streaming site.According to a Deadline report on July 17, the movie will star Chris Evans and Ryan Gosling in a Russo Brothers’ directed movie called The Gray Man. The story is an action thriller where Gentry (Gosling), a former CIA agent, is being hunted around the world by another former CIA agent Lloyd (Evans). It is based on the 2009 Mark Greaney novel that turned into a bestselling book series.The Russo Brothers (Anthony Russo and Joe Russo) have co-directed numerous Marvel Comics superhero series, including two Captain America movies and two Avengers movies. The Avengers: End Game, the Russo brothers’ last entry in the series is considered one of the most expensive movies ever made for an estimated $356 million. However, the movie shattered box office records bringing in nearly $2.8 billion for Disney (DIS) which owns Marvel.Co-director Anthony Russo told Deadline, “For those who were fans of Captain America: Winter Soldier, this is us moving into that territory in more of a real-world setting. That’s what this movie really means for us.”Netflix intends to create its own franchise similar to James Bond or the Mission: Impossible series in a push to increase its subscriber base. Following the release of the company’s Q2 earnings on July 16, Co-CEO Reed Hastings stated that the company is “definitely focusing on creating franchises.”Co-director Joe Russo commented on his hopes for the film, “The intention is for it to be competitive with any theatrical, and the ability to do with Gosling and Evans is a dream for us. The idea is to create a franchise and build out a whole universe, with Ryan at the center of it. We have all committed to the first movie, and that’s got to be great to get us to the second movie.” He added, “We think Netflix is the perfect place for this film.”Netflix reported a 10.2 million increase in subscribers with company revenue growing 25% year-over-year despite missed revenue goals for the second quarter. In light of the pandemic, theaters have been shuttered which has forced many movie-goers to Netflix or its streaming competitors, Amazon (AMZN) Prime and Disney Plus. Netflix estimates that in the third quarter they will add 2.5 million more subscribers, which is down from last year’s same quarter of 6.8 million.Following Netflix earnings announcement on July 17, more than a dozen analysts raised their price targets. Deutsche Bank analyst Bryan Kraft said, “Netflix continues to be an attractive long-term growth story within media as it maintains its leadership position as the preeminent premium global subscription video-on-demand service.” He added, “Netflix benefits from secular adoption of streaming and investment into the company’s expanding content portfolio.” He maintains a Buy rating on the stock and a price target of $525.00 implying an upside potential of 6%.Also on July 17, Morgan Stanley analyst Benjamin Swinburne noted, “When the dust settles, we expect 35 million net adds and positive free cash flow for the year—reinforcing our confidence in long-term cash operating leverage in the business.” The analyst reiterated a Buy rating on Netflix’s shares and a price target of $600 (22% upside potential).Overall, 22 analysts assign Buy ratings, 11 Hold ratings, and 4 Sell ratings, giving NFLX a Moderate Buy Street consensus. The average analyst price target stands at $518.32 suggesting 5% upside potential, with shares already up 52% year-to-date. (See Netflix's stock analysis on TipRanks).Related News: Netflix Sinks 9% On Weak Q2 Earnings; Subdued Guidance Google Shifts Business Apps To Accommodate Stay-At-Home Workforce Guns, Gaming and Zoom – The Companies with the Highest Earnings Momentum Heading into Q2 Reports More recent articles from Smarter Analyst: * Disney Curtails FB Marketing, Joins Growing List of Ad-Boycotters * KFC Wants To Bring Lab-Grown Meat To Its Fast Food Chain * GSK Buys 10% Stake In Germany’s CureVac To Develop mRNA Vaccines * GM To Release Electric Truck Next Year With 20 More EVs By 2023

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Amazon.com Inc’s total exports from small and medium sellers in India, part of a company programme to export products to global markets, have crossed the $2 billion mark, two company executives said on Monday. Amazon’s “Global Selling” programme was launched in India, a key growth market for the company, in 2015. The programme, also operational in other markets, has helped more than 60,000 Indian sellers export products to 15 Amazon websites, the company said.

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We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]

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(Bloomberg) — Billionaire Jack Ma’s Ant Group is kicking off its much-anticipated initial public offering, with plans to list simultaneously in Hong Kong and on China’s new tech bourse in Shanghai.The parent of China’s largest mobile payment company is marching toward what could be one of the largest listings seen in years. It was valued at $150 billion in its last funding round. Ant will pursue a dual-listing in Hong Kong and the Shanghai stock exchange’s STAR board, the Hangzhou-based company said in an emailed statement. It’s seeking a valuation of at least $200 billion, people familiar with the matter said, asking not to be identified talking about a private deal.The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything from loans and travel services to food delivery, in a bid to claw back shoppers lost to Tencent Holdings Ltd. The company’s Chief Executive Officer Simon Hu wants people to think of Alipay as more than just a niche provider of financial services and the payments gateway for the world’s biggest e-commerce platform. Alipay now caters to a wide array of consumer needs from groceries to wealth management, and hotel booking to loan applications.Ant generated $2 billion in profit in the fourth quarter, based on calculations made from Alibaba’s filing. The company’s goal is to derive more than 80% of revenue from local merchants and finance firms in five years via so-called technology services fees, up from about half at the end of 2019. The contribution from proprietary services, such as Ant’s own money market fund and loans, would shrink as a result.Those technology solutions would include services in cloud computing, artificial intelligence, blockchain and risk control. Ant aims to assist banks to dole out loans to consumers, and partner with brands like KFC Holding Co. and Marriott International Inc. to attract and manage customers.Hu is betting that those strategies will help Ant defend its dominance of China’s $29 trillion mobile payments space. Alipay’s share of mobile payments has increased for three consecutive quarters, rising to 55.1% in the fourth quarter, according research consultant iResearch. Tencent has 38.9% of the market.It also diversifies Ant’s business into less-sensitive areas after the firm drew regulatory scrutiny for its blistering expansion in financial services with in-house products.To mark the transformation, Ant changed its registered name to Ant Group Co. from Ant Financial Services Group at the end of May.Ant’s origins are not without controversy. In 2010, Ma hived off the six-year-old Alipay from Alibaba over the objections of shareholders including Yahoo! Inc., citing potential regulations that may curb foreign ownership of financial businesses. Alipay then expanded into loans, wealth management and consumer credit under the entity that’s now known as Ant Group. The dispute was eventually settled via an arrangement that granted Alibaba a proportion of Alipay’s income. Alibaba ended up buying a 33% stake in Ant last year.(Updates with valuation sought in second paragraph)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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Pfizer Inc (PFE) and BioNTech SE (BNTX) have announced an agreement with the UK to supply 30 million doses of their BNT162 mRNA-based coronavirus vaccine candidate, currently in development. The agreement is subject to clinical success and regulatory approval for the vaccine.Financial details of the agreement were not disclosed, but the terms were based on the timing of delivery and the volume of doses.“We’re harnessing our scientific expertise, and we’re marshaling our manufacturing resources to ensure that the vaccine would be available as soon as possible,” said Albert Bourla, CEO of Pfizer. “This agreement is a testament to our shared goal to have millions of doses of a vaccine against COVID-19 available before the end of the year.”The BNT162 program is based on BioNTech’s proprietary mRNA technology and supported by Pfizer’s global vaccine development and manufacturing capabilities.The Pfizer/BioNTech vaccine development program is evaluating at least four experimental vaccines, each of which represents a unique combination of messenger RNA (mRNA) format and target antigen.On July 1, Pfizer and BioNTech announced preliminary data from BNT162b1, the most advanced of the four mRNA formulations. The early data demonstrate that BNT162b1 is able to produce neutralizing antibodies in humans at or above the levels observed in the plasma from patients who have recovered from COVID-19, and this was shown at relatively low dose levels. No serious adverse events were reported.Recently, two of the companies’ four investigational vaccine candidates (BNT162b1 and BNT162b2) received Fast Track designation from the US Food and Drug Administration (FDA). This designation was granted based on preliminary data from Phase 1/2 studies that are currently ongoing in the US and Germany as well as animal immunogenicity studies.Further data from the ongoing Phase 1/2 clinical trials of the four vaccine candidates will enable the selection of a lead candidate and dose level for an anticipated large, global Phase 2b/3 safety and efficacy study that may begin as early as later this month, pending regulatory approval.If the ongoing studies are successful, Pfizer and BioNTech expect to be ready to seek Conditional Marketing Authorization or some form of regulatory approval as early as October 2020.The companies currently expect to manufacture globally up to 100 million doses by the end of 2020 and potentially more than 1.3 billion doses by the end of 2021, subject to final dose selection from the clinical trial.Shares in Pfizer are down 7.5% year-to-date, while BioNTech has exploded over 150%. Looking forward, analysts take a cautiously optimistic Moderate Buy consensus on both stocks. However, due to the recent rally, BioNTech’s average analyst price target of $60 now indicates 30% downside potential from current levels.Mizuho Securities analyst Vamil Divan has a buy rating on Pfizer and $38 price target (5% upside potential). That’s slightly under the stock’s average analyst price target of $42 (16% upside potential).“We had several discussions with investors today on the back of the initial data, with much of the discussion focused on the commercial potential for a successful SARS-CoV-2 vaccine” the analyst wrote.“The company has mentioned that it will look to price a potential vaccine in line with other commercially-available vaccines, suggesting to us a potential blockbuster commercial opportunity, depending on the vaccine’s clinical profile and the ultimate competitive landscape” he told investors, after the release of ‘encouraging’ early data.Related News: AstraZeneca Pops Ahead of Covid-19 Vaccine Data Report Due July 20 Moderna Soars 16% As Covid-19 Vaccine Shows Strong Immune Response EU In Talks With Moderna, BioNtech, CureVac For Potential Covid-19 Vaccine Deals More recent articles from Smarter Analyst: * EBay Seeks To Retain Stake in Classifieds Unit, Challenging Prosus Bid; Top Analyst Raises PT * Exelon Unit To Pay $200 Million Fine To Settle Long-Running Bribery Case * EU In Talks With Moderna, BioNtech, CureVac For Potential Covid-19 Vaccine Deals * Walgreens Partners With DoorDash For Online Delivery During Pandemic

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Jul.20 — Frans van Houten, chief executive officer at Koninklijke Philips NV, discusses his outlook for business in the covid-19 era, earnings in the second half and ventilator production. He speaks on “Bloomberg Daybreak: Europe.”

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