Ottawa-based Shopify, which briefly became Canada’s most valuable company earlier this month, had more than 5,000 employees and contractors worldwide as of December. “As of today, Shopify is a digital by default,” Tobi Lutke, who is also the founder of Shopify, said in a tweet. “Office centricity is over.”

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Pharmaceutical company AstraZeneca secures $1.2 billon to produce the University of Oxford’s COVID-19 vaccine. Yahoo Finance’s Anjalee Khemlani breaks down the latest developments.

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Is it May 2020 or March 2009? As Wall Street observers traverse the confused economic environment, flashbacks of the Great Recession are coming to mind. Those looking at the glass half empty will point out the bear market that emerged took 18 months to reach the lowest point. However, the optimists are singing a different tune.Among the bulls is Morgan Stanley’s head of U.S. equity strategy, Michael Wilson. In a recent note to clients, he argues that the current state of the market bears a striking resemblance to March 2009, the period in which the U.S. economy began to recover, with the S&P 500 embarking on what would become the longest bull-market run on record.“Markets are tracking the Great Financial Crisis period very closely in many ways,” Wilson wrote. To support this claim, the strategist highlights the fact that stocks are bouncing back in a “similar pattern," at the same time the amount of stocks, especially cyclicals, that have exceeded their 200-day moving average is on the rise. This is important as cyclicals usually lead the charge when a market recovery kicks off. Wilson also notes that the equity-risk premium, or the expected earnings yield for the S&P 500 minus the ten-year Treasury yield, looks the same as it did in March 2009, which played into his decision to call a stock-market bottom on March 16 of this year.Taking Wilson’s views into consideration, risk-tolerant investors are on the hunt for promising names now trading at lower levels, specifically within the biotech space. As it just takes one positive catalyst like strong data or a favorable FDA ruling to send shares skyrocketing, massive returns are on the table. That being said, as the opposite also holds true, these stocks come with their fair share of risk.Acknowledging the risk involved, we used TipRanks’ database to pinpoint compelling, yet affordable biotech stocks. We found three trading for under $5 that have not only received enough bullish recommendations from analysts to earn a “Strong Buy” consensus rating, but also sport colossal upside potential.Gamida Cell Ltd. (GMDA)It has certainly been a rough week for Gamida Cell, which develops therapies that could potentially cure blood cancers and other blood diseases.On Tuesday, the company unveiled the pricing for its underwritten public offering of 13,333,334 ordinary shares, which landed at $4.50 per share. The fund raise sent shares tumbling, with GMDA walking away from the day’s trading session down 26%. However, the new share price, $4.42, offers an attractive entry point, according to the analyst community.Weighing in for Oppenheimer, five-star analyst Mark Breidenbach cites recently released positive top-line data from its randomized Phase 3 trial of omidubicel in patients receiving bone marrow transplants as a key component of his bullish thesis. The trial had 125 participants between the ages of 12-65 with high-risk hematologic malignances (AML, CML, MDS, lymphoma), and GMDA’s candidate was studied against standard umbilical cord blood (UCB) grafts.Not only did omidubicel meet its primary endpoint, but the asset’s failure rate came in at 4% while the UCBs had a failure rate of 12%. After the readout, the company announced that it plans on initiating a rolling BLA submission in the fourth quarter.Expounding on the implications of the results, Breidenbach stated, “While expecting to see full results are at a medical meeting later this year (likely ASH), we believe these data could support a 2021 FDA approval and help spur uptake at transplant centers.” He added, “We believe omidubicel has been de-risked with the successful Phase 3 results.”Adding to the good news, Breidenbach argues that the results show omidubicel is “competitive with more widely used grafts, including matched unrelated donor (MUD) and mismatched-related donor grafts.” He noted, “As such, these data may support wider adoption of omidubicel among transplant physicans, although longer follow-up will be required to assess relapse rates and treatment-related mortality.”Based on all of the above, Breidenbach keep an Outperform (i.e. Buy) rating on the stock. Along with his bullish call, he also bumped up the price target from $18 to $20. This implies upside potential of a massive 352%. (To watch Breidenbach’s track record, click here) Turning now to the rest of the Street, other analysts are on the same page. Only Buy ratings have been received in the last three months, 3, in fact, so the consensus rating is a Strong Buy. In addition, the $18 average price target puts the upside potential at 307%. (See Gamida Cell stock analysis on TipRanks)VBI Vaccines (VBIV)Using its enveloped virus-like particle (eVLP) platform, VBI Vaccines develops vaccines that could be capable of addressing unmet needs in infectious disease and immuno-oncology. With one analyst, Canaccord Genuity’s John Newman, expecting a “catalyst-rich” second half of the year for the company, its $2.49 share price could mean that now is the time to pull the trigger.The five-star analyst tells investors the fourth quarter of 2020 will see VBIV submit regulatory approval filings for Sci-B-Vac, its vaccine against hepatitis B. These will be comprised of data from the CONSTANT and PROTECT Phase 3 trials in the U.S., Europe and Canada. “We continue to expect the agencies will view Sci-B-Vac's regulatory applications favorably and expect approvals in 2021…We continue to believe a key factor for VBIV will be whether the Advisory Committee on Immunization Practices (ACIP) recommends Sci-B-Vac at a two-dose immunization schedule, for their commercial launch,” he commented.As for its chronic hepatitis B virus (HBV) therapy, VBI-2601, initial human proof-of-concept data from the Phase 1b/2a study could be published in the second half of this year as well.Looking at its VBI-1901 asset, which was designed for use in recurrent Glioblastoma Multiforme (rGBM) patients, expanded immunologic, tumor and clinical data from the GM-CSF arm and initial immunologic and tumor response data from the AS01B arm are slated for release mid-year and in Q4, respectively. “We look for continued positive data for VBI-1901 in GBM,” Newman said.If that wasn’t enough, a pan-coronavirus vaccine is in the works, with VBIV expecting IND-enabling animal testing for the candidate, VBI-2901, to start in the second quarter. On top of this, the company could have clinical candidates selected and enough clinical supply ready in Q4 2020.As VBIV’s operations through 2021 will most likely be supported by the $57.5 million equity raise last month and its $35.8 million in cash as of Q1 2020, it’s no wonder Newman is optimistic. In addition to maintaining a Buy recommendation, he did trim the price target by $1 to account for share dilution. That being said, the $3 figure still leaves room for a possible twelve-month gain of 20%. (To watch Newman’s track record, click here)Do other analysts agree with Newman? As it turns out, they do. With 100% Street support, or 3 Buy ratings to be exact, the consensus is unanimous: VBIV is a Strong Buy. At $4.33, the average price target is more aggressive and suggests 74% upside potential. (See VBI Vaccines stock analysis on TipRanks)Cyclacel Pharmaceuticals (CYCC)The last biotech on our list, Cyclacel Pharmaceuticals, uses cell cycle, transcriptional regulation and DNA damage response biology to develop cancer therapies. Currently going for $4.59 apiece, some members of the Street are telling investors to get onboard before shares take off on an upward trajectory.Writing for Roth Capital, analyst Jonathan Aschoff believes the strength of CYCC’s development program makes it a stand-out. The company is focused on solid tumors, with it conducting its clinical trials so that it can still report updated fadraciclib Phase 1 data with the higher frequency IV dosing schedule in advanced solid tumors, initial Phase 1 safety and PK results with oral fadraciclib as well as kick off its Phase 1/2 precision medicine trial in early 2021. It should be noted that oral fadraciclib has already demonstrated concordance with IV pharmacokinetics based on early clinical data.With this strong technology, Aschoff argues that CYCC is targeting the unmet need in the cyclin E overexpressing tumors of the breast, endometrium/uterus and ovaries space. “The solid tumor program is key to our CYCC valuation, as projected revenue from this cyclin E overexpressing population represents more than 70% of projected revenue. We note that cyclin E is overexpressed in one-third of HR+ breast cancer patients resistant to first-line therapy, where patients could receive fadraciclib alone or potentially in combination with hormonal therapy. This population, combined with resistant second-line ovarian and endometrial/uterine cancer patients with high cyclin E amount to just over 100,000 patients in the U.S.,” he explained.Additionally, CYCC is set to publish initial Phase 1 fadraciclib/ venetoclax results in rel/ref AML/MDS and CLL, initial Phase 1 sapacitabine/venetoclax results in rel/ref AML/MDS and initial Phase 1 CYC140 data in advanced leukemias. While Phase 1b/2 sapacitabine/olaparib results in BRCA mutant metastatic breast cancer are also expected, the timing is uncertain.Some investors have expressed concern regarding COVID-19's impact on the company’s trials, but Aschoff points out that thus far, CYCC hasn’t experienced any enrollment delays. He added, “CYCC recently announced its intent to study the potential of fadraciclib to be an early inhibitor of the detrimental inflammatory response observed in COVID-19 patients, specifically to induce MCL1 downregulation and apoptosis of inflammatory neutrophils.”Consider all of this combined with its $27.3 million cash position that will support its development programs through 2022, and it makes sense why Aschoff remains squarely in the bull camp. To this end, he reiterated a Buy rating and $24 price target, indicating 423% upside potential. (To watch Aschoff’s track record, click here)Like Aschoff, other analysts also take a bullish approach. CYCC’s Strong Buy consensus rating breaks down into 3 Buys and zero Holds or Sells. Given the $16.33 average price target, shares could soar 256% in the next year. (See Cyclacel stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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Chinese tech stock Baidu (BIDU) may delist from Nasdaq and transfer to an exchange closer to China, such as Hong Kong, Reuters reports. According to three Reuters sources, Baidu would use the move to boost its valuation as tension continues to escalate between the US and China over investments.“For a good company, there are many choices of destinations for listing, not limited to the U.S.,” CEO Robin Li recently told the China Daily newspaper.On May 20, the Senate passed legislation forcing US-listed companies to confirm that “they are not owned or controlled by a foreign government.”Shares in Baidu are currently trading down 14% on a year-to-date basis, and 43% on a three-year basis.“We believe the shares are undervalued, as we estimate core EBITDA growing 23% in FY21. Target assumes 7x ’21E core EBITDA vs. our 10x target multiple for Google core search” pointed out Oppenheimer analyst Jason Helfstein, as he reiterated his buy rating with a $155 price target (43% upside potential).Indeed Baidu scores a bullish Strong Buy consensus from the Street, with an average analyst price target of $147 (35% upside potential). (See BIDU stock analysis on TipRanks).The ‘Google of China’, as Baidu is sometimes known, has just reported solid first quarter earnings, with Q1 Non-GAAP EPS of $1.25 beating consensus expectations by $0.69. Revenue of $3.18B dropped 7% from a year ago, but easily beat the $3.1 billion consensus.Following earnings KeyBanc analyst Hans Chung ramped up his price target from $136 to $145. “Though ad demand for offline related business has not fully recovered from the COVID-19 pandemic, recovery is tracking ahead of expectations” he said.Related News: President Trump Takes Aim at Digital Tech Giants From Google to Twitter Amazon Urges Congress to Establish a Law Against Price Gouging iQIYI Sinks 4% As Online Ad-Revenue Falls Sharply More recent articles from Smarter Analyst: * 3 Biotech Stocks Under $5 With Massive Upside Potential * Amazon Rolls Out First Solar Energy Facility In China * Akorn Plummets 27% In Pre-Market On Bankruptcy Filing * AstraZeneca Can Make Up To 1B Covid-19 Vaccine Doses, Signs First Supply Pacts

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Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Anjalee Khemlani discuss the latest coronavirus news.

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Today we'll take a closer look at Intel Corporation (NASDAQ:INTC) from a dividend investor's perspective. Owning a…

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Expedia Group reported their first quarter earnings after the bell on Wednesday, showing a revenue drop of 15% year over year at $2.21B. Jared Blikre joins The Final Round to go over the numbers.

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(Bloomberg) — Global coronavirus cases topped five million, doubling in the past month, and infections rose at a record pace in Brazil and Indonesia. AstraZeneca received $1.2 billion in U.S. funding to develop a vaccine, while CanSino Biologics signed a deal to test and sell a Canadian vaccine candidate.U.S. President Donald Trump suggested Chinese leader Xi Jinping was behind a “disinformation and propaganda attack,” and is set to tour Ford’s ventilator facility on Thursday. Cases stabilized in Russia and the emergency in Tokyo may soon be lifted.The euro-area economy started to claw its way out of its downturn and U.S. jobless claims will probably continue to trend lower. The U.S. Transportation Security Administration has started making changes to airport screening and EasyJet said it plans to resume flights from some European airports in June.Key Developments:Virus Tracker: Cases reached 5 million; deaths exceed 328,000Why a new cluster in China is triggering alarms: QuickTakeTrump’s push to reopen repels some GOP supportersWHO is caught in a dangerous place between Trump and ChinaTrump gambles on a resurrection, with lives and livelihoodsSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. See this week’s top stories from QuickTake here.Natixis Losses on Equity Derivatives Soar (7:10 a.m. NY)Natixis SA, the French investment bank that embraced complex trades as a key money maker, has lost about 250 million euros ($274 million) so far this year on equity derivatives. About 150 million euros of the losses have occurred since April, according to people familiar with the matter. The results are partly driven by corporations slashing their dividends because of the coronavirus.Turkey Cuts Rates Again (7:02 a.m. NY)Turkey’s central bank delivered a ninth straight interest-rate cut after measures to prop up the lira drove out foreign investors, helping the currency recover from an all-time low. By escalating their defense of the lira, authorities have opened the way for lower borrowing costs, a linchpin of the government’s strategy to keep cheap credit flowing to consumers and businesses as it tries to mitigate the economic fallout from the coronavirus outbreak.Texas Sees Power Demand Rebound (7 a.m. NY)Texas has started seeing a slight increase in power use this week in one of the first signs that electricity demand is bouncing back in the U.S. as lockdowns ease. While power use in the Lone Star state is still depressed, the state’s main grid operator noticed a slight improvement in electricity use during early morning hours, according to a report.TSA Makes Changes to Airport Security Screening (6:47 a.m. NY)Ahead of the Memorial Day holiday weekend in the U.S., the Transportation Security Administration has started making changes to airport screening. “In the interest of TSA frontline workers and traveler health, TSA is committed to making prudent changes to our screening processes to limit physical contact and increase physical distance as much as possible,” TSA Administrator David Pekoske said.The agency said it had seen a steady growth of travelers coming through airport checkpoints over the past couple of weeks.U.K. Home Sales Crater (6:09 a.m. NY)U.K. home sales collapsed last month as the government effectively shut down the market to help slow the coronavirus outbreak. The number of residential property deals plunged by 53.4% compared with April last year, according to provisional data published by the U.K. tax authority on Thursday. About 46,440 home sales were recorded.Insurance giant Aviva Plc expects residential property prices to drop 12% and commercial real estate to decline by 15% because of the impact of the pandemic, it said in an earnings update on Thursday. The company sees long-term growth for house prices after they trough. The insurer also said it expects to pay out around 160 million pounds in coronavirus-related claims.Philippine Apologizes for ‘Second Wave’ Confusion (5:52 p.m. HK)The Philippines’ Health Department corrected a statement made by its top official that the country is already experiencing its second wave of coronavirus infections, apologizing for the confusion it caused.The Southeast Asian nation is still in the first wave, driven by the local community transmission of the virus, Health Director Beverly Ho said in a virtual briefing. Secretary Francisco Duque told lawmakers on Wednesday that the first wave already occurred in January when three Chinese tourists tested positive for the virus.Tokyo Emergency May Be Lifted Soon (5:22 p.m. HK)Japan could lift the state of emergency in Tokyo and surrounding prefectures as soon as Monday, if current trends continue, Prime Minister Shinzo Abe said. The measure was lifted Thursday for Osaka and the two adjoining prefectures of Kyoto and Hyogo after the move was endorsed by a government panel of health experts earlier in the day. The emergency declaration will stay in effect for Tokyo and surrounding prefectures, as well as for the northern island of Hokkaido, for the time being, he said.Italian PM Urges Banks to Speed Up Loans (5:18 p.m. HK)Prime Minister Giuseppe Conte ramped up the pressure on Italy’s banking sector, urging lenders to speed up delivery of state-backed loans to businesses paralyzed by a nationwide lockdown to counter the coronavirus.“The banking system is making a contribution, but it can and must do more to accelerate procedures to deliver state-backed loans,” Conte said in a speech to the lower house of parliament. “The liquidity decree allows for guaranteed loans to be delivered in 24 hours, especially for requests under 25,000 euros ($27,400).”Conte’s government and banks have been blaming each other for delays in guaranteeing liquidity to companies, as more than two months of containment measures weigh on the economy. The European Commission forecasts Italy’s output will shrink 9.5% this year, while Bloomberg Economics expects a 13% contraction.Indonesia Cases Top 20,000 After Record Surge (4:56 p.m. HK)Indonesia recorded a record surge in new coronavirus cases, adding 973 infections to take the total in the country to 20,162. The increase was driven by 502 infections reported in East Java. Earlier this week, President Joko Widodo ruled out an immediate easing of social distancing rules and ordered officials to strictly enforce a ban on travel during the busy holiday season to prevent a spike in new coronavirus cases.The spike in infections in recent weeks may delay plans to reopen Southeast Asia’s largest economy as early as next month as an overwhelmed healthcare system fails to ramp up testing of those with even explicit Covid-19 symptoms. With reports of a large number of people traveling to their hometowns to celebrate the Muslim festival of Eid al-Fitr later this month in defiance of the ban on such travel, known as mudik, fears have increased of a fresh wave of infections.China Vaccine Maker Agrees to Canada Deal (4:37 p.m. HK)Leading Chinese vaccine developer CanSino Biologics Inc.. has agreed to a deal to test and sell a separate Canadian vaccine candidate. In addition to developing its own vaccine with the Chinese military, CanSino will partner with Vancouver-based Precision NanoSystems Inc. to co-develop another potential vaccine.The company will conduct testing of Precision’s experimental vaccine and has the right to commercialize it in Asia excluding Japan. Widely viewed as one of the front-runners in the race for successful vaccine, the deal adds to CanSino’s chances of being among the first to deliver.CanSino’s own vaccine is currently in the second of three phases of human testing and is among five Chinese candidates to have reached that advanced stage — more than the U.S. and Europe combined. The stock surged in Hong Kong on Thursday morning before abruptly reversing gains in the afternoon.Euro-Area Economy Reaches Trough (4 p.m. HK)The euro-area economy started to claw its way out of its deepest downturn ever as the relaxing of coronavirus lockdowns allows thousands of businesses to reopen. The big question is how long it stumbles along at the bottom before a meaningful recovery starts to take shape. While a report from IHS Markit on Thursday offered some hope, it also suggested that improvement will be slow.“Demand is likely to remain extremely weak for a prolonged period, putting further pressure on companies to make more aggressive job cuts as government retention schemes expire,” said Chris Williamson, chief business economist at IHS Markit. Growth could slump by almost 9% in 2020, and a full recovery could “take several years,” he said.Cases Stabilize in Russia (3:40 p.m. HK)The number of confirmed new infections rose by 8,849 over the past day in Russia, to 317,554. The country reported 127 more fatalities, taking the total to 3,099.Infections in the country have nearly tripled from the end of April, but new cases have since started to level off. Thursday’s 2.9% increase in cases is in line with Wednesday, and below the five-day average.Human Development Set for First Decline Since 1990 (3:30 p.m. HK)Global human development — a measure that combines education, health and living standards — will decline for the first time in at least three decades, the United Nations Development Programme warned.Global income per person is expected to fall 4% this year, and, when adjusted for those who don’t have Internet access, the percentage of primary school-age children who are getting an education is at the lowest level since the 1980s. The death toll from the virus has exceeded 300,000 so far.“The world has seen many crises over the past 30 years,” UNDP Administrator Achim Steiner said in a statement. “Each has hit human development hard but, overall, development gains accrued globally year-on-year. Covid-19 –- with its triple hit to health, education and income — may change this trend.”Lufthansa Nears Rescue (3:23 p.m. HK)Deutsche Lufthansa AG said it’s close to a multibillion euro bailout deal that would see the state become its biggest shareholder after the coronavirus punctured a decades-long boom in air travel. Lufthansa shares gained as much as 5.8% Thursday after Europe’s largest carrier confirmed it’s in advanced talks with Germany’s WSF Economic Stabilization Fund for aid of as much as 9 billion euros ($9.9 billion).The package would include a 3 billion-euro loan, a so-called silent participation and the WSF obtaining a 20% stake through a capital issuance, Lufthansa said.EasyJet Plans to Restart Flights (3:20 p.m. HK)EasyJet Plc will resume flights from 22 European airports on June 15, becoming one of the first airlines in the region to begin building up services as coronavirus lockdowns ease. Britain’s biggest discount carrier will start with mainly internal flights in the U.K. and France before announcing more routes in coming weeks as travel restrictions are lifted and demand picks up.Passengers, cabin crew and ground staff will be required to wear face masks, in line with guidance this week by the European Aviation Safety Agency and the European Centre for Disease Prevention and Control. No food will be served on the first flights and customers will be asked to sit apart from others not in their party, though only where spare seats are available.German Infection Rate Under Key Threshold (2:44 p.m. HK)Germany’s new coronavirus cases dropped below 1,000 and the number of new fatalities remained under 100, as the country’s infection rate stayed below the key threshold of 1.0. There were 695 new cases in the 24 hours through Thursday morning, bringing the total to 178,473, according to data from Johns Hopkins University. That’s down from 1,227 on Wednesday.AstraZeneca Gets $1 Billion From U.S. to Make Vaccine (2:18 p.m. HK)AstraZeneca Plc received more than $1 billion in U.S. government funding to develop a Covid-19 vaccine from the University of Oxford, and said it has supply agreements for 400 million doses. The investment accelerates a race to secure vaccine supplies, seen as a key step toward getting global economies moving again after a lockdown-induced slump.Drugmakers around the world are looking for manufacturing capacity to ramp up output. The Oxford vaccine is one of the world’s fastest-moving, and AstraZeneca has said it expects to have doses ready as soon as September. BARDA has also provided funding for French pharmaceutical giant Sanofi, including $30 million for its Covid vaccine and a $226 million award in December to increase production capacity for its pandemic influenza vaccine.Coronavirus Cases Reach 5 Million (2 p.m. HK)It’s the latest milestone for the worst pandemic in a century that has upended every aspect of modern life and hammered the global economy. The number of infections worldwide has doubled over the past month. The U.S. accounts for almost a third of the cases, five times the number seen by Russia, the No. 2 country on the list. Brazil, one of the latest hot spots, has the third largest number of cases.Milestones in the pandemic have become commonplace and only amount to an approximate guidepost. Health experts widely believe the actual count is higher than the official numbers, as Covid-19 has proved difficult to detect and track. The official death toll is at more than 328,000, with the U.S. fatalities exceeding 93,000.Thai Panel to Propose Extending Emergency (12:17 p.m. HK)Thailand’s National Security Council will propose an extension of a state of emergency through June 30, the panel’s Secretary-General Somsak Rungsita told reporters. The NSC will propose the extension at the Covid-19 meeting chaired by Prime Minister Prayuth Chan-Ocha on Friday.Diamond Princess’s Cases Reveal Pattern of Disease (12:03 p.m. HK)Months after the coronavirus infected more than 700 people on board the Diamond Princess cruise ship in Japan, scientists are still gleaning insights into the patterns of illness it causes.Women Job Losses Could Shave $1 Trillion Off GDP (8:47 a.m. HK)Of 44 million workers in vulnerable sectors, about 31 million female workers face potential job cuts compared to 13 million men, underscoring that women globally are more vulnerable to losing their jobs during the crisis, according to Citigroup Inc. The assessment excludes China, with the figure likely to be higher if the world’s second-largest economy was included.Virus-Ravaged USS Theodore Roosevelt Returns to Sea (8:38 a.m. HK)The USS Theodore Roosevelt “left Naval Base Guam and entered the Philippine Sea May 21 to conduct carrier qualification flights for the embarked Carrier Air Wing (CVW) 11,” the U.S. 7th Fleet Commander said in a statement. The ship moored in Guam after crew members tested positive for Covid-19.China Reports 2 New Cases, Including 1 in Shanghai (8:33 a.m. HK)One local coronavirus infection is reported in Shanghai and one imported case is in Guangdong province, National Health Commission said in a statement. 31 asymptomatic cases are reported; three of them are from overseas.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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