• Mark Cuban and Elon Musk disagree on how to save the US economy

    The two businessmen are incredibly influential on Twitter and beyond. Their views have shaped the stock market. Evidence suggests that Bitcoin still tracks the stock market.

    In brief:

    • Elon Musk and Mark Cuban disagree on how to relaunch the US economy.
    • It has been hit hard by the coronavirus pandemic.
    • Musk is pushing for the economy to reopen. Cuban doesn’t things to go back to normal just yet
    • They are influential and their words have moved markets.

    Read more: Mark Cuban and Elon Musk disagree on how to save the US economy

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  • US$59.83 – That’s What Analysts Think Moderna, Inc. (NASDAQ:MRNA) Is Worth After These Results

    US$59.83 - That's What Analysts Think Moderna, Inc. (NASDAQ:MRNA) Is Worth After These ResultsShareholders of Moderna, Inc. (NASDAQ:MRNA) will be pleased this week, given that the stock price is up 17% to…

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  • Musk Emerges as Loudest Reopen Proponent With Tesla Threats

    Musk Emerges as Loudest Reopen Proponent With Tesla Threats(Bloomberg) — Tesla Inc. asserts that restarting its operations in the midst of the coronavirus pandemic doesn’t make the company an outlier, nor is it going against the grain.But its chief executive officer’s handling of the health crisis has been anything but ordinary. Tesla sued the county blocking its car plant from reopening, with Elon Musk calling the local health officer — a former infectious diseases professor with a master’s degree in public health — “unelected & ignorant.” He threatened to move Tesla’s headquarters out of California, warning that all its manufacturing may leave the state, too.The weekend flare-up was without precedent in the three months since the first confirmed Covid-19 death in the U.S. — a resident of Santa Clara County, home to Tesla’s headquarters and neighbor to its factory in Fremont, California. As the nation’s death toll approaches 80,000, Musk has emerged as arguably the loudest voice in corporate America advocating for the economy to reopen.“I’m not messing around,” the 48-year-old billionaire tweeted after Tesla filed its lawsuit against Alameda County. “Absurd & medically irrational behavior in violation of constitutional civil liberties, moreover by *unelected* county officials with no accountability, needs to stop.”Tesla shares fell 2.7% as of 7:20 a.m. Monday in New York, before the start of regular trading. The stock has soared 96% this year.Auto RestartTesla does have a case to make for being unexceptional within the auto industry. Ford Motor Co., Fiat Chrysler Automobiles NV, Toyota Motor Corp. and others also have set dates for restarting their operations, only to then call off those plans due to shutdown orders.Daimler AG has reopened a Mercedes-Benz plant in Alabama, as has its German peer BMW AG in South Carolina. Toyota and Honda Motor Co. will resume work at U.S. factories this week, followed by General Motors Co., Ford and Fiat Chrysler on May 18.But no carmaker other than Tesla has publicly attacked local health officials or threatened states over shelter-in-place measures that virtually wiped out North American vehicle production for more than a month.Read more: What you need to know about the U.S. auto industry’s restartDuring GM’s first-quarter earnings call on May 6, CEO Mary Barra said the automaker was having “very constructive” conversations with government officials.“We’re in a good position as we talk to country leaders and state leaders,” she said. “We’ll continue to have dialogue with our unions, as well as with the government leaders, to do the right thing.”Bay Area ExceptionTesla’s handling of the health crisis also has been unique among companies in the San Francisco Bay area. Ajay Shah, the CEO of Smart Global Holdings Inc., last month credited Alameda for allowing the manufacturer of memory modules to continue operating.“We’ve had discussions with the Alameda County health authorities and show them exactly what we’re doing and they’ve been satisfied with it,” Shah said on an April 7 earnings call.Earlier: Tesla’s drive to stay open irked officials who saw health riskFaceboook Inc. CEO Mark Zuckerberg, whose staff can more easily work from home than Musk’s manufacturing employees, has voiced his concern about lifting stay-home measures too soon.“While there are massive societal costs from the current shelter in place restrictions, I worry that reopening certain places too quickly before infection rates have been reduced to very minimal levels will almost guarantee future outbreaks and worse longer-term health and economic outcomes,” Zuckerberg said during Facebook’s April 29 earnings call.Back to WorkOn the same day, Musk called shutdown orders “fascist” and unconstitutional, likening them to forcible imprisonment and saying they were “breaking people’s freedoms in ways that are horrible and wrong.” His comments were embraced by some Silicon Valley venture capitalists and political conservatives.Tesla released a 38-page “Return to Work Playbook” late Saturday laying out the safety protocols it will adopt at all of its facilities. While the company will disinfect work areas, enforce social-distancing precautions and provide personal-protective equipment, among other measures, the document doesn’t include any plans to test workers other than by checking their temperatures.Alameda officials have said more testing needs to come online and that Covid-19 case counts need to drop before they’ll feel comfortable moving to the next phase of reopening.Tesla has signaled it may disregard Alameda’s order, saying in a blog post Saturday that it had “started the process of resuming operations.” Several Fremont workers shared text messages with Bloomberg News in which supervisors were calling them back to the factory.“Our employees are excited to get back to work, and we’re doing so with their health and safety in mind,” the company said.(Updates with pre-market trading in the fifth 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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  • Bristol-Myers Squibb Company (NYSE:BMY) Just Reported, And Analysts Assigned A US$65.94 Price Target

    Bristol-Myers Squibb Company (NYSE:BMY) Just Reported, And Analysts Assigned A US$65.94 Price TargetLast week saw the newest quarterly earnings release from Bristol-Myers Squibb Company (NYSE:BMY), an important…

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  • BA owner says burning cash, quarantine plan will make it worse

    BA owner says burning cash, quarantine plan will make it worseBritish Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said on Monday, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals. Willie Walsh told parliament’s transport committee IAG would have to review plans to resume flying in July if the government pressed ahead with plans to introduce a quarantine on most people coming into the country by air as part of measures to prevent a second peak of the coronavirus pandemic. While Walsh said IAG was not in a position where it had to ask for a specific bailout from the government, he added the quarantine plan would add to the pressure on the group.

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  • 5/11 Critical Resistance, Long List

    Market Notes:

    Last week the S&P 500 had a strong rally off of support. As earnings season winds down the S&P 500 is up against some old resistance from last August.

    The VIX remains relatively low this morning in a positive sign for the bulls. Futures are drifting lower ahead of the open. We may be entering summer with lower volatility, I think the market is waiting on the next catalyst.

    Bitcoin failed to hold $10,000 this weekend. The halving is tomorrow. On watch but no trade planned at this point.

    Watchlist:

    RVP is a low float with resistance in the $5.30s

    NBSE is a low float with resistance at $8.85

    TORC is a lowish float Resistance at $2

    PRTS is an earnings winner, lowish float, watching for some volume to come in first

    VUZI another lowish float, support at $2.50, resistance at $3

    MARK has resistance at $1.18

    MCRB has support at $4.50

    ZEST watching for a setup above $1.40

    VHC watching for a continuation

    BCRX has support at $4.30

    SWN watching for a setup above $3.25

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    source https://www.reddit.com/r/StockMarket/comments/ghleek/511_critical_resistance_long_list/

  • Bitcoin Slumps Ahead of Closely-Watched Halving Event

    Bitcoin Slumps Ahead of Closely-Watched Halving EventMay.11 — Bitcoin slumped over the weekend after rising back above $10,000 late last week, casting a cloud over its latest attempted rebound. The decline took place ahead of a closely watched, technical event known as halving. Antoni Trenchev, co-founder at Nexobank, sees the currency reaching $50,000 by the end of the year. He speaks on “Bloomberg Markets: European Open.”

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  • AstraZeneca, Daiichi Get FDA Breakthrough Status For Gastro Cancer Drug

    AstraZeneca, Daiichi Get FDA Breakthrough Status For Gastro Cancer DrugAstraZeneca Plc (AZN) and Daiichi Sankyo Co Ltd. said Monday that their jointly developed drug Enhertu for the treatment of advanced gastric cancer has been granted Breakthrough Therapy Designation (BTD) status from the U.S. Food and Drug Administration (FDA).The BTD status will allow the companies to accelerate the development, regulatory review and market entry of Enhertu. The FDA awards the status for potential new medicines that are intended to treat a serious condition and address a significant unmet medical need. Enhertu is an antibody drug targeting HER2-positive cancer cells.“Current therapy options are limited for patients with HER2-positive metastatic gastric cancer and for those who relapse, there are no approved HER2-targeted medicines,” said José Baselga, Executive Vice President, R&D Oncology. “We look forward to working with the FDA to further explore the potential of Enhertu to become an important new treatment and the first antibody drug conjugate for this devastating disease.”Gastric cancer is the fifth most common cancer worldwide and the third leading cause of cancer mortality. In the US, it is estimated that 27,600 new cases of gastric cancer will be diagnosed in 2020 and more than 11,000 people will die from the disease. About one in five gastric cancers are considered HER2 positive.The FDA granted the BTD status based on Phase I trial and Phase II trial data. Patients treated with Enhertu demonstrated a statistically significant and clinically meaningful improvement in objective response rate (ORR), the primary endpoint, and overall survival (OS), a key secondary endpoint, versus patients treated with chemotherapy.Enhertu is already approved in the US and Japan for the treatment of adult patients with metastatic HER2-positive breast cancer. The drugmaker’s shares rose 1.1% to $53.29 on Friday after rallying 29% in the past 2 months.TipRanks data shows that Wall Street analysts have a bullish outlook on the stock as 4 have Buys adding up to a Strong Buy consensus rating. The $57.50 average price target puts the upside potential for the shares in the coming 12 months at 7.9%. (See AstraZeneca stock analysis on TipRanks).  Related News: AstraZeneca-Merck Ovarian Cancer Treatment Gets FDA Approval Seres Therapeutics Reports Weak Earnings, But Significant Upside Lies Ahead Eli Lilly Wins FDA Approval For Retevmo Lung, Thyroid Cancer Treatment More recent articles from Smarter Analyst: * AMC Pops 11% Amid Potential Acquisition Talks by Amazon * Carnival Cruises Enjoys Huge Bookings Surge- Report * Tesla’s China Model 3 Sales Tumbled 64% In April * Solid Biosciences: Keep Your Eyes On The Prize Says Top Analyst

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  • AstraZeneca-Merck Ovarian Cancer Treatment Gets FDA Approval

    AstraZeneca-Merck Ovarian Cancer Treatment Gets FDA ApprovalThe U.S. Food and Drug Administration (FDA) approved a treatment developed by AstraZeneca (AZN) and Merck Co. (MRK) for advanced ovarian cancer.The FDA approved the ovarian drug Lynparza to be used in combination with bevacizumab as a first-line maintenance treatment of adult patients with advanced epithelial ovarian, fallopian tube or primary peritoneal cancer. Patients will be selected for therapy based on an FDA-approved companion diagnostic for Lynparza.Lynparza is a first-in-class PARP inhibitor, which is a targeted treatment to potentially exploit DNA damage response (DDR) pathway deficiencies, such as so-called BRCA mutations to kill cancer cells. It is being tested in a range of tumor types. Ovarian cancer is the fifth most common cause of death from cancer in women in the U.S. This year, it is estimated that more than 21,000 women will be diagnosed with ovarian cancer and nearly 14,000 women will die of the disease.The nod by the U.S. regulator followed a biomarker subgroup study of 387 patients with positive tumors from the Phase 3 PAOLA-1 trial, which showed that the Lynparza drug in combination with bevacizumab reduced the risk of disease progression or death by 67%. It improved progression-free survival (PFS) to a median of 37.2 months vs. 17.7 months with bevacizumab alone in patients with advanced ovarian cancer.“Advances in understanding the role of biomarkers and PARP inhibition have fundamentally changed how physicians treat this aggressive type of cancer,” said Dr. Roy Baynes, senior vice president and chief medical officer at Merck Research Laboratories. “Today’s approval based on the PAOLA-1 trial highlights the importance of homologous recombination deficiency (HRD) testing at diagnosis to identify those who may benefit from Lynparza in combination with bevacizumab as a first-line maintenance treatment.”AstraZeneca and Merck said they are also seeking to get approval by the European Union, Japan and other countries for Lynparza’s use in combination with bevacizumab as a first-line maintenance treatment for patients with advanced ovarian cancer.Mara Goldstein, analyst at Mizuho Securities reiterated Merck’s Buy rating with a $100 price target.“The likelihood that MRK's business rebounds in 2H20 with the easing of stay-at-home restrictions is high, in our view, and drives our support of the shares,” Goldstein wrote in a note to investors.TipRanks data shows that 9 out of the 11 Wall Street analysts covering the stock in the past three months have a Buy on the stock. The remainder say Hold adding up to Strong Buy consensus rating. The $92.10 average price target suggests 21% upside potential in the shares in the coming 12 months. (See Merck stock analysis on TipRanks). Related News: Quidel’s Rapid Covid-19 Antigen Test Scores Emergency FDA Approval GM Ramps Up Coffers With $4 Billion Debt Sale, Plans New $2 Billion Credit Line Weekly Market Review: Stocks Back to Winning Ways More recent articles from Smarter Analyst: * AMC Pops 11% Amid Potential Acquisition Talks by Amazon * Carnival Cruises Enjoys Huge Bookings Surge- Report * AstraZeneca, Daiichi Get FDA Breakthrough Status For Gastro Cancer Drug * Tesla’s China Model 3 Sales Tumbled 64% In April

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