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☆ Stocks making the biggest moves before the bell: JPMorgan Chase, Wells Fargo, PNC, Lucid, Express & more
▼ + stars: | 2023-04-14 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

JPMorgan Chase reported revenue of $39.34 billion, beating the $36.19 billion estimates for analyst polled by Refinitiv. Wells Fargo — The bank added 3.1% after beating Wall Street expectations when reporting earnings. The company reported revenue at $20.73 billion, which is higher than the $20.08 expected by Wall Street. PNC — Shares rose 1.3% after the bank reported first-quarter earnings. UnitedHealth – UnitedHealth shares rose slightly after the health insurance provider beat Wall Street's estimates on the top and bottom lines and lifted its profit outlook for 2023.

☆ House Democrats call for immediate hearing on Texas abortion pill ruling
▼ + stars: | 2023-04-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Abortion rights advocates gather in front of the J Marvin Jones Federal Building and Courthouse in Amarillo, Texas, on March 15, 2023. Democrats on the U.S. House Committee on Energy and Commerce on Wednesday requested an immediate hearing on a federal judge's order suspending the Food and Drug Administration's approval of the abortion pill mifepristone. All 23 Democrats on the committee wrote in a letter to Chair Cathy McMorris Rodgers, R-Wash., arguing that the ruling undermines the FDA's authority over the drug approval process. They alleged that the FDA failed to follow Congress' "statutorily prescribed drug approval process" by approving mifepristone in 2000. "The FDA's lawless actions ultimately endanger women and girls seeking chemical abortions," the lawmakers wrote.

☆ Buy these stocks with fortress balance sheets to win in the slowing economy, Morgan Stanley says
▼ + stars: | 2023-04-10 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Companies with strong balance sheets have a downside cushion and can find unique opportunities during a slowing economy, according to Morgan Stanley. Corporations with high amounts of cash on their balance sheets can take advantage of a slowing economy by buying back their stock or acquiring businesses at discounted prices, said Morgan Stanley strategist Todd Castagno. "We've identified companies with strong balance sheets and sufficient liquidity, that also generate excess returns over their cost of capital," Castagno said in a note to clients. Investors have been increasingly focused on the strength of corporate balance sheets amid rising concerns that the Federal Reserve's series of interest rate hikes could tip the U.S. economy into a slowdown or recession. Castagno screened the Russell 1000 , except for financials, real estate and utilities, to find companies with fortress-like balance sheets.

☆ InflaRx COVID injection gets US FDA's emergency-use authorization
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - The U.S. Food and Drug Administration (FDA) on Tuesday granted emergency-use authorization to Inflarx NV's (IF0G.F) monoclonal antibody for the treatment of hospitalized COVID patients when initiated within 48 hours of receiving artificial life support. U.S.-listed shares of the German biopharmaceutical company rose almost 25% to $4.70 after the bell. The injection known as Gohibic targets a part of the immune system that is thought to play a role in the inflammation that leads to COVID-19 disease progression. Germany-based InflaRx is continuing discussions with the FDA related to the submission of an application for full approval of Gohibic in this COVID-19 indication. Reporting by Sriparna Roy in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Wells Fargo says this biopharmaceutical stock could double due to drug catalysts
▼ + stars: | 2023-03-21 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Catalysts coming for Ventyx 's immunology and inflammation projects could help the stock more than double its share value, Wells Fargo said. Analyst Derek Archila initiated coverage of the biopharmaceutical stock at overweight and set a target price for the stock at $77. His price target implies the stock will surge 103.4% over the next year from where it closed Monday. But Archila said there's a likely chance that the company could set a new bar with its trial for moderately to severely active ulcerative colitis. Wall Street expectations for the read-out coming in the second half of this year would be "highly impressive" if met, Archila said.

March 20 (Reuters) - U.S. scientific instruments maker Thermo Fisher Scientific Inc (TMO.N) and South Korea's Celltrion Inc (068270.KS) are among those competing to acquire the biopharma solutions business of medical device maker Baxter International Inc (BAX.N), according to people familiar with the matter. Baxter, which has a market value of $19 billion, had total debt of $16.6 billion as of the end of December. Private equity firms, including KKR & Co (KKR.N) and Carlyle Group (CG.O), have also expressed interest in the Baxter business, the sources said. Baxter said in January it was exploring alternatives for its biopharma solutions business and would also spin off its kidney care units. Baxter's biopharma solutions unit supports drugmakers in the formulation, development and commercialization of drugs typically given by infusion or injection, such as biologics and vaccines.

☆ Factbox: Global firms with exposure to collapsed SVB
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +7 min

March 13 (Reuters) - Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across global markets as billions of dollars belonging to companies and investors were left stranded. The collapse raised concerns that the end of decades-long era of cheap money would reveal cracks in the global financial system as climbing interest rates expose vulnerabilities in the economy. HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of SVB for 1 pound, rescuing a key lender for technology start-ups in Britain. Below is a list of companies across the globe that have revealed their exposure to SVB:EUROPEAround 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States. Moonpig adds that SVB UK is one of ten lenders that provide senior debt facilities to the group as part of a strong banking syndicateASIA-PACIFICNITRO SOFTWARE (NTO.AX)Australia's productivity software maker Nitro Software Ltd (NTO.AX) said it had about $12.18 million of its global cash reserves held on deposit at SVB.

☆ France's Sanofi to acquire US-based Provention Bio for $2.9 bln
▼ + stars: | 2023-03-13 | by ( Dina Kartit | ) www.reuters.com time to read: +1 min

March 13 (Reuters) - France's Sanofi (SASY.PA) said on Monday it has entered into a deal to acquire U.S.-based biopharmaceutical company Provention Bio in a transaction worth $2.9 billion, or $25.00 per share in cash. This transaction builds on an existing co-promotion deal between Sanofi and Provention Bio to provide TZIELD to patients in need, said the French firm. "Provention Bio also brings certain pipeline assets in early development in immune-mediated diseases," added the group. Sanofi said it expects to complete the acquisition in the second quarter of 2023. Reporting by Dina Kartit; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Which companies are affected by SVB collapse?
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +6 min

ROKU (ROKU.O)Streaming devices maker says it has about $487 million, or 26% of its cash and cash equivalents, held in deposits with SVB. CIRCLEUS cryptocurrency firm Circle says $3.3 billion of its $40 billion of USD Coin reserves are at SVB. BLOCKFIBankrupt crypto lender BlockFi Inc has roughly $227 million in unprotected funds at SVB, the Wall Street Journal reported on Friday. VIR BIOTECHNOLOGY (VIR.O)Biotech firm says it maintains operating accounts at SVB with about $220 million as of Friday. EUROPEAround 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States.

The Justice Department’s decision to subpoena government witnesses who would normally testify voluntarily to help build the government’s criminal case was highly unusual, according to a half-dozen legal and animal welfare experts. The inspectors wanted APHIS to take a tougher stance against the company for the mistreatment of the beagles. Yet, this did not happen with any of the agency's inspections of Envigo, public records show. TENSIONS RISETensions between Gibbens and Miller escalated shortly after Envigo appealed some of the findings from the October inspection, emails show. Gibbens told Envigo APHIS would strike the citation because the company ultimately provided the requested information.

Takeda CFO Costa Saroukos in a 2018 picture. Mr. Saroukos joined Takeda in 2015 as CFO of Takeda’s European and Canadian operations before he was elevated to global CFO in 2018. WSJ: What did you learn from your deal-integration experiences that helped with the Takeda and Shire integration? ” — Costa Saroukos, CFO of TakedaAnother reason speed is important is to avoid losing talent. We broadened CFOinUrpocket to be used globally across 80 countries for the combined Takeda and Shire offices.

☆ Biopharmaceutical company says it expects to reach profitability in 2025
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBiopharmaceutical company says it expects to reach profitability in 2025Weiguo Su, CEO of Hutchmed, explains why the company is focusing on late-stage clinical trials and discusses what it's doing during "difficult times."

☆ We're adding to our position in this robust medical technology player
▼ + stars: | 2023-02-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

We are buying 15 shares of Danaher (DHR) at roughly $248.34 apiece. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 495 shares of DHR, increasing its weighting in the portfolio to about 4.76% from 4.62%. Despite the company's strong fourth-quarter earnings beat in January, shares of Danaher are down about 11% since late January. DHR 1Y mountain Danaher (DHR) one-year performance. (Jim Cramer's Charitable Trust is long DHR.

☆ Stocks making the biggest moves midday: Deere, Airbnb, AutoNation, Moderna and more
▼ + stars: | 2023-02-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Deere — Shares rose 7.7% after the company reported earnings-per-share of $6.55 for its fiscal first quarter, topping the $5.57 expected by analysts polled by Refinitiv. Some Wall Street analysts remained cautious on the stock, citing risks including competition and slower-than-expected consumer adoption of alternative accommodations. Still, earnings and revenue missed Wall Street estimates. The sports betting company reported a loss of 53 cents per share on revenue of $855 million. The real estate company reported a 57 cent per share loss on $480 million of revenue.

☆ This biotech hedge fund has elite clients like Yale’s endowment, Tisch. Here are its top bets
▼ + stars: | 2023-02-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Baker Bros. Advisors, a secretive hedge fund that counts Yale University's endowment and the Tisch family as its clients, held onto a slew of its favorite biotech names last quarter. Its portfolio has grown to be the 15th-biggest among U.S. hedge funds through 2022, according to FactSet, despite its lack of notoriety. The hedge fund specializes in biotech investing as the founders, now in their 50s, take advantage of their educational background in immunology, riding on the explosive growth in the sector over the past decade. Meanwhile, Yale's charitable foundation has invested in 667 LP — a Baker Bros. vehicle — since at least 2009. The hedge fund slightly increased its exposure to Madrigal Pharmaceuticals and Rhythm Pharmaceuticals last quarter, the filing showed.

☆ Coterra, Danaher and TJX Companies are in the news. Here's our take on the headlines
▼ + stars: | 2023-02-06 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

A trio of Club stocks — Coterra Energy (CTRA), Danaher (DHR) and TJX Companies (TJX) — are in the news Monday. The multiweek slide in natural gas prices is at the heart of Raymond James' downgrade because Coterra's revenue is split roughly 50-50 between natural gas and oil. @NG.1 5Y mountain Natural Gas prices over 5 years The Club's take: The decline in natural gas prices is undoubtedly going to affect the amount of cash Coterra generates and then returns to shareholders via its fixed-plus-variable dividend strategy and buybacks. We're not heading for the exits on Coterra despite the decline in natural gas prices. A photo of a natural gas flare burning near an oil pump jack at the New Harmony Oil Field in the U.S. on June 19, 2022.

☆ Looking beyond FAANG: Here's how the Club portfolio lines up with the Dow's workhorse stocks
▼ + stars: | 2023-01-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

Think most of the stocks in the Dow Jones Industrial Average or the kind of stocks Warren Buffett loves to own for Berkshire Hathaway ." But in the near term, we still favor stocks of companies that are the backbone of the real economy. Dow Inc (DOW): The materials company we own in the portfolio is industrial gas giant Linde (LIN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Allstate, Roblox and more
▼ + stars: | 2023-01-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

A Norwegian Gateway cruise ship leaves from the Manhattan port during sunset in New York City, United States on April 10, 2022. Vornado Realty Trust — Shares of the real estate investment trust shed 3.3% after cutting its quarterly dividend to 37.5 cents per share from 53 cents. Roblox — Roblox shares shed 6% following a downgrade to an underweight rating by analysts at Morgan Stanley. Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth quarter results. Alcoa's adjusted fourth quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount.

☆ Stocks making the biggest moves before the bell: Roblox, Discover, Chegg and more
▼ + stars: | 2023-01-19 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Roblox — Roblox shares fell 6.7% after Morgan Stanley downgraded the gaming company to underweight from equal weight and said the upside is limited following the stock's recent outperformance. Philip Morris — Shares of the tobacco company rose more than 1% after Jefferies upgraded the stock to buy from hold and raised its price target. Apple — Shares slid 1.2% after JPMorgan cut its price target on Apple and said the technology company had a tough setup going into earnings from supply headwinds. Boot Barn — UBS raised its price target on the stock ahead of the company's quarterly earnings report. The stock slid 0.6% despite the target increase, however.

☆ China-based biopharmaceutical firm says its Covid drug causes fewer side effects than Paxlovid
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina-based biopharmaceutical firm says its Covid drug causes fewer side effects than PaxlovidYao Sheng of Junshi Biosciences discusses the clinical trial results of its antiviral pill, VV116.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Tesla, Expedia and more
▼ + stars: | 2023-01-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Meme stocks — A group of so-called meme stocks skyrocketed Wednesday as retail investors jumped into speculative trades again. Bed Bath & Beyond rallied 38% to trigger the trend in morning trading Wednesday. Expedia — The travel company's stock gained more than 4% after Oppenheimer upgraded it to outperform from perform. The Wall Street firm said it believes Expedia shares are discounting macro headwinds. Toll Brothers — The homebuilding stock gained 3% following an upgrade to a buy from a hold rating by analysts at Bank of America.

☆ This dividend stock fund is beating the market. Here's its strategy and positions
▼ + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

The firm's Integrity Dividend Harvest Fund ended 2022 down just 1.45%, while the broader market saw its worst year since 2008. So far in 2023, Integrity Dividend has gained more than 5%, while the S & P is up only a little more than 1%. IDHIX 1Y mountain Integrity Dividend Harvest I outperformed the S & P 500 in 2022. The stock, which gained more than 19% last year, has a 3.65% dividend yield. "They're pointing to 6% to 7% long-term annual earnings growth, along with dividends growing in lockstep to their earnings," Radke said.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Coinbase, Virgin Orbit and more
▼ + stars: | 2023-01-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Discovery — Shares of the media company jumped more than 6% after Bank of America added the stock to the "US1" list. Coinbase — Shares jumped almost 6% after the cryptocurrency exchange shared plans to trim its workforce by 20%. Bed Bath & Beyond — The retailer jumped nearly 19%. Frontline — Shares of the shipping company jumped 26% after Frontline announced that it was terminating a deal to combine with Euronav. Agilent Technologies — Shares rose more than 4% a day after the company announced a $2 billion share repurchase program.

☆ AstraZeneca to Buy U.S. Cardiorenal-Drug Maker
▼ + stars: | 2023-01-09 | by ( Joseph Hoppe | ) www.wsj.com time to read: +1 min

Anglo-Swedish pharma giant AstraZeneca PLC has agreed to buy CinCor Pharma Inc., including global rights to its baxdrostat cardiorenal drug, for an upfront transaction value of around $1.3 billion. It has also committed to a further $10 a share in cash, payable upon a specified regulatory submission of a baxdrostat product. AstraZeneca said the acquisition will bolster its cardiorenal pipeline by adding baxdrostat, an inhibitor that has shown promise in clinical trials lowering blood pressure in treatment-resistant hypertension. The upfront cash portion of the acquisition represents a 121% premium to CinCor’s closing market price of $11.78 on Friday. Combined, the upfront and so-called maximum potential contingent value payments represent a transaction value of around $1.8 billion.

☆ Resources lift FTSE 100 to mid-2019 highs
▼ + stars: | 2023-01-09 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 up 0.2%, FTSE 250 adds 0.4%Game developers fall on bleak outlookAstraZeneca down after $1.8 bln CinCor Pharma dealResources shares rise on China reopening optimismJan 9 (Reuters) - UK's exporter-heavy FTSE 100 hit a more than three-year high on Monday, led by commodity-linked stocks, as China's reopening of its borders reinforced hopes for a rebound in the world's second-largest economy. The blue-chip FTSE 100 (.FTSE) gained 0.2%, hitting its highest since July 30, 2019, while the more domestically focused FTSE 250 mid-cap index (.FTMC) rose 0.4%. Industrial metal miners (.FTNMX551020) gained 1.4%, while oil majors Shell (SHEL.L) and BP (BP.L) also advanced as oil prices climbed on China demand prospects after Beijing opened on Sunday borders that have been all but shut since the start of the COVID-19 pandemic. Despite surging inflation and risks of a global recession, the FTSE 100 outperformed major global markets last year due to high exposure to commodity prices. Reporting by Shashwat Chauhan in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

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