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☆ Sea is turning the tide
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 16 (Reuters Breakingviews) - The loss-making Southeast Asian technology giant’s decision to ditch its growth-at-all-costs strategy is showing results. The $28 billion U.S. listed games-to-payments company Sea (SE.N) has been exiting some markets and slashing jobs and discounts. Overall group revenue grew 17% to $3.2 billion in the quarter, beating analyst estimates. Sea is now working toward achieving Shopee’s adjusted EBITDA breakeven by the end of 2023. The improvements will shore up support for its decision to remain in Brazil, a big emerging market.

☆ Britain's NICE recommends against NHS use of 5 COVID treatments as not cost-effective
▼ + stars: | 2022-11-16 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

The review, conducted by the National Institute for Health and Care Excellence (NICE) and published on Wednesday, is its first involving COVID-19 treatments as the pandemic enters a new phase. The recommendations are a draft, NICE said, and until final guidance is published, access to COVID-19 medicines will continue as is. NICE acknowledged that there is evidence that Merck's molnupiravir and Gilead Sciences Inc's (GILD.O) hospital-administered antiviral remdesivir are effective at treating COVID-19. It also recommended against three other COVID treatments, including GSK (GSK.L) and partner Vir Biotechnology's (VIR.O) sotrovimab, an antibody therapy that the World Health Organization recommended against in September. One expert said that some of the COVID treatments NICE recommended against are an important part of the British government's current strategy.

☆ U.S. FDA authorizes Roche's monkeypox test
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

Nov 15 (Reuters) - The U.S. Food and Drug Administration on Tuesday issued an emergency use authorization to Roche's (ROG.S) monkeypox test. Reporting by Leroy Leo in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Intesa’s payments exit sends awkward message
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 15 (Reuters Breakingviews) - Carlo Messina has picked a puzzling moment to get out of Nexi (NEXII.MI). Italy’s biggest bank by market capitalisation, a key industrial partner to the 11 billion euro payments group, sold its entire 5% stake at 8.7 euros a share late on Monday, or 584 million euros. Intesa, which sold its retail payments business to Nexi for 1 billion euros and entered a long-term partnership, will remain a key business ally. Analysts believe Nexi is worth 12 euros a share, according to average target prices from Refinitiv. Intesa’s hurried sale suggests the stock, which has already lost more than a third of its value this year, may have further to fall.

☆ Jeff Bezos is an unlikely personal finance guru
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 15 (Reuters Breakingviews) - Jeff Bezos, the man who sells everything, is telling shoppers to stop buying everything. It may seem odd that Bezos, who built a $1 trillion company on ease and convenience, is doling out financial advice that cuts against his business interests. E-commerce is only 14.5% of overall retail sales of some $1.8 trillion, according to the U.S. Census Bureau. Meanwhile pure-play e-commerce companies that don’t have their roots in real-world stores represented 8% of retail sales in the second quarter compared to 5.7% in the second quarter in 2019, reckons UBS. In short, Amazon can grow even when retail doesn’t, meaning Bezos the billionaire can afford to be the unlikely voice of parsimony.

The comments follow a softer-than-expected inflation report last week, which had buoyed hopes that the Fed could scale back its hefty interest rate hikes and helped drive a euphoric market rally. The S&P 500 in the previous session logged its biggest weekly percentage gain in about five months, while the tech-heavy Nasdaq (.IXIC) notched its best week since March. "The market is expecting the Fed to continue its hawkish rhetoric on rates. ET, the S&P 500 (.SPX) was down 17.25 points, or 0.43%, at 3,975.68, and the Nasdaq Composite (.IXIC) was down 115.13 points, or 1.02%, at 11,208.20. The S&P 500 information technology sector (.SPLRCT) was down 1.2% and among the leading sectoral decliners on the benchmark index.

The comments follow a softer-than-expected inflation report last week, which had buoyed hopes that price pressures were easing and the Fed could scale back its hefty interest rate hikes. "The market is expecting the Fed to continue its hawkish rhetoric on rates," said Peter Cardillo, chief market economist at Spartan Capital Securities. Once they (Fed) raise rates at 50 (bps), there's a possibility that they might indicate slower rates." Traders now expect the Fed to hike interest rates in December by a half point, and expect terminal rate in the range of 4.75%-5.0% next year. ET, Dow e-minis were down 50 points, or 0.15%, S&P 500 e-minis were down 11.5 points, or 0.29%, and Nasdaq 100 e-minis were down 62 points, or 0.52%.

☆ Alzheimer’s Drug From Roche Fails in Late-Stage Trials
▼ + stars: | 2022-11-14 | by ( Denise Roland | ) www.wsj.com time to read: 1 min

An experimental Alzheimer’s drug from Roche Holding AG failed to significantly slow cognitive decline in long-awaited trials, the latest in a long line of setbacks for a field that has seen little progress in decades. The drug, called gantenerumab, slightly reduced cognitive decline in people with early Alzheimer’s compared with a placebo across two large and lengthy trials, but the difference wasn’t statistically significant, Roche said Monday. The trials, which lasted more than two years and involved nearly 2,000 participants, compared scores of cognition and function in areas such as memory, orientation and problem-solving.

☆ A top Wall Street analyst names 6 major events that could send biotech stocks soaring between now and the end of 2022
▼ + stars: | 2022-11-14 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Cantor Fitzgerald analysts named six big events to mark on your calendar. While the majority of the expected events are set to come from smaller biotech companies, bigger companies — like Roche, Gilead, and Alnylam — have their own events coming through the pipeline. Here are the six major events from big biotech companies that could send stocks soaring:1. Cantor Fitzgerald analysts give Gilead's stock a neutral rating and they have an overweight rating on Arcus. Lenacapavir "could become a much bigger piece of the HIV growth narrative over the next few years," according to Cantor Fitzgerald analysts.

☆ What Cramer is watching Monday — two AMD upgrades, Microsoft hesitancy, Alzheimer's results
▼ + stars: | 2022-11-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Baird upgrades Advance Micro Devices (AMD) to outperform from neutral (buy from hold) and raises price target to $100 per share from $65. UBS goes to a buy from neutral as well and raises price target to $95 from $75. Oppenheimer cuts price target on Club holding Nvidia (NVDA) to $225 per share from $250. Credit Suisse analyst Scott Deuschle assumes coverage on Honeywell (HON) with a neutral rating and a $202-per-share price target. Good for Club holding Eli Lily (LLY) and Biogen (BIIB), which are each working on separate experiment treatments for the disease.

☆ Roche's Alzheimer's drug fails to meet goal in long awaited trial
▼ + stars: | 2022-11-14 | by ( Ludwig Burger | ) www.reuters.com time to read: +4 min

Nov 14 (Reuters) - Roche said (ROG.S) its Alzheimer's drug candidate could not clearly be shown to slow dementia progression in two drug trials, failing to draw level with a recent development success by rivals Biogen (BIIB.O) and Eisai (4523.T). Within each study, volunteers were randomly assigned to receive either the injectable antibody drug gantenerumab or a placebo. The quest to develop an Alzheimer's drug, targeting beta-amyloid or other molecules, has been beset by a long list of study failures. But rival Biogen in September scored a surprise trial success with an experimental Alzheimer's drug that it developed with Eisai, rebuilding confidence among industry executives and researchers in the beta-amyloid approach. Schwan earlier this year sought to curb expectations for the Graduate trials but the head of Roche's pharma unit last month acknowledged that Biogen's success with lecanemab had reignited hopes.

☆ Roche reminds investors big drug bets have risks
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 14 (Reuters Breakingviews) - Shareholders in Swiss drug giant Roche (ROG.S) are learning the downside of making big bets on new drugs. Credit Suisse analysts reckoned the drug could eventually generate around $10 billion of sales. If shareholders had valued that revenue at the same 4 times multiple at which Roche currently trades, the drug could have added nearly $40 billion of value to the company. That suggests investors were attaching a less than one-in-three chance of the drug being a success. Roche investors should brace for more big bets.

☆ Experimental therapy gantenerumab fails to slow or improve Alzheimer’s memory loss in clinical trials
▼ + stars: | 2022-11-14 | by ( Brenda Goodman | ) edition.cnn.com time to read: +3 min

Gantenerumab is part of a class of injected drugs that are designed to remove sticky protein pieces called beta amyloid from the brain. Beta amyloid buildup is a hallmark of Alzheimer’s disease. Roche said Monday that gantenerumab appears to have removed less beta amyloid from the brains of study participants than anticipated. The results for gantenerumab follow positive results for a different beta amyloid reducing drug, lecanemab. An estimated 6.5 million Americans are living with Alzheimer’s disease in 2022, according to the Alzheimer’s Association.

☆ Stocks making the biggest moves in the premarket: Hasbro, Oatly, Advanced Micro Devices and more
▼ + stars: | 2022-11-14 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Advanced Micro Devices (AMD) – The chip maker's stock rose 3.2% in the premarket after receiving upgrades at both Baird and UBS. Amazon.com (AMZN) – Amazon fell 1.7% in premarket trading after Bank of America removed the stock from its "US 1" list, although it maintained a "buy" rating. Teva Pharmaceutical (TEVA) – Teva was downgraded to "underweight" from "neutral" at J.P. Morgan Securities, which cited continuing growth challenges for the drugmaker. Teva fell 2.3% in premarket action. Lilly added 1.5% in premarket trading, while Biogen rallied 5.8%.

☆ Stocks making the biggest moves midday: Oatly, Amazon, Hasbro and more
▼ + stars: | 2022-11-14 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

Oatly – Shares of the oat-based drinks maker tumbled 11% after the company reported a larger-than-expected quarterly loss and revenue that fell short of consensus. Oatly cited China Covid restrictions, production challenges and a stronger U.S. dollar for the weakness in its performance. Amazon – Amazon fell 1.4% following a report that it plans to lay off about 10,000 employees as soon as this week. The cuts would be the largest in the company's history, and would primarily affect Amazon's devices organization, retail division and human resources, according to The New York Times. Cloud stocks – Cloud stocks slipped Monday as investors took gains off the table.

☆ Roche's Alzheimer drug failing was a tailwind for a Biogen rally, Mizuho's Salim Syed
▼ + stars: | 2022-11-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoche's Alzheimer drug failing was a tailwind for a Biogen rally, Mizuho's Salim SyedSalim Syed, Mizuho senior biotech analyst, joins 'Closing Bell' to discuss Biogen stock ticking up after Roche's new Alzheimer's drug didn't meet its goals.

☆ China's Xi has shown no desire to change 'ideology' of zero-Covid, says David Roche
▼ + stars: | 2022-11-03 | 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's Xi has shown no desire to change 'ideology' of zero-Covid, says David RocheDavid Roche of Independent Strategy says Chinese president Xi Jinping has not shown any desires to change the nation's zero-Covid "ideology," that he does not expect to see changing any time soon.

☆ Goldman upgrades Biogen, says it’s poised to address early Alzheimer’s market next year
▼ + stars: | 2022-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Biogen shares have a lot more potential upside for investors thanks to positive new data around the company's early Alzheimer's drug, Goldman Sachs said Wednesday. The upgrade followed the company's earnings call, which had a big focus on the drug, lecanemab, an anti-amyloid antibody that is in phase 3 trials. Goldman also raised its revenue estimates for the drug to $14 billion in 2035, compared with prior estimates of $2 billion. "The company is now poised to address the early Alzheimer's disease market in 2023+ following the recent topline lecanemab Ph3 (CLARITY-AD) data," Goldman analyst Salveen Richter said in a note. "With BIIB shares now trading at ~$270 post the topline CLARITY-AD data, there is roughly ~$80/share reflected in the stock for Alzhiemer's disease," Richter said.

Some progress has been made, but it's not enough," Rebecca Marmot, chief sustainability officer at consumer goods company Unilever (ULVR.L), said. While regulators have pushed for more rigorous reporting on the companies' environmental impact and efforts to battle climate change, broader impact on nature and biodiversity has not yet been subject to similar scrutiny. The COP15 talks in Montreal will see countries try to agree a new Global Biodiversity Framework to combat the crisis that threatens over one million plant and animal species with extinction. "Assessment and disclosure are an essential first step to generate action, but it will only have an impact if it is made mandatory," the 330 businesses said in their statement. "Without this information, we are flying blind into extinction," Eva Zabey, executive director at global coalition Business for Nature, said.

Oct 25 (Reuters) - Biogen Inc (BIIB.O) on Tuesday said the Alzheimer's disease drug it is developing with Japan's Eisai Co Ltd (4523.T) would be used by doctors in a competitive market as investors wait for data from rival therapies made by Eli Lilly and Co (LLY.N) and Roche (ROG.S). The drug, lecanemab was shown to slow the progress of the disease by 27% in a trial last month, and additional data is expected next month. "The data needs to be seen from the other anti-amyloid therapies before we decide what is going to be meaningful," said Biogen interim research chief Priya Singhal. Its costs were about halved as the company significantly cut back on commercial infrastructure around the launch of Aduhelm, its previous Alzheimer's drug that has sputtered amid controversy over efficacy and lack of coverage by health insurers. read moreInvestors have been pinning hopes on the Alzheimer's drug as cheaper generics of Biogen's multiple sclerosis treatment Tecfidera have entered the market, hurting sales.

☆ Ulta, Bath & Body Works, CeraVe, E.l.f. Cosmetics, and SheaMoisture among beauty favorites for female teens, survey finds
▼ + stars: | 2022-10-21 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +4 min

Ulta is still the most popular beauty store for all female teens, according to a semiannual survey. Out of the 6,670 female teens surveyed, 29% of upper-income female teens and 40% of average-income female teens chose Bath & Body Works as their favorite source for fragrances. Upper-income female teens are spending slightly less for perfumes at $62 every year compared with $67 a year spent on perfumes by average-income female teens. While female teens with wealthier incomes spent $93 last fall on hair care products, female teens with average income spent $91 a year. However, Olaplex was the most popular hair care brand for 14% of upper-income female teens, and the second most popular for female teens with average incomes.

☆ Schlumberger evaluates options for Russia staff as Ukraine war escalates -CEO
▼ + stars: | 2022-10-20 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - Oilfield services provider Schlumberger (SLB.N) is evaluating unspecified options for its thousands of Russian employees as the war in Ukraine escalates, Chief Executive Olivier Le Peuch told Reuters an interview. Among Western companies that did not exit following the February invasion of Ukraine, Schlumberger is one of the biggest employers in Russia. Ukrainian Foreign Minister Dmytro Kuleba in a tweet blasted the firm's Russia presence as contributing to war crimes and genocide. President Vladimir Putin last month issued a decree seeking to add 300,000 troops to the war effort amid high casualties in Ukraine. Le Peuch said Schlumberger "management in the country is pursuing all options to assist employees," without providing details.

☆ European shares at near two-week high amid UK fiscal plan optimism
▼ + stars: | 2022-10-18 | by ( Amruta Khandekar | ) www.reuters.com time to read: +2 min

The region-wide STOXX 600 index (.STOXX) was up 0.9% by 0826 GMT, hitting a near two-week high, as investors snapped up beaten-down tech (.SX8P) and bank (.SX7P) stocks. Shares of chipmakers, including ASML Holdings (ASML.AS) and BE Semiconductor (BESI.AS), rose between 0.9% and 4% amid a risk-on sentiment in markets. "If you make that U-turn too extreme and basically embark on a trajectory of significant fiscal tightening, that could also do more more harm. Investors also took comfort from a recent pullback in natural gas prices in Europe, which is battling an energy crisis amid growing risks of a recession. Rio Tinto (RIO.L) slipped 0.7% after it projected annual iron ore shipments at the lower end of its forecast amid weak global demand.

☆ Roche sales decline more than expected as COVID products slide
▼ + stars: | 2022-10-18 | by ( Ludwig Burger | Nancy Lapid | ) www.reuters.com time to read: +2 min

Third-quarter revenue slipped to 14.74 billion Swiss francs ($14.84 billion), below market expectations of about 15.5 billion francs. Its bestseller Ocrevus gained 16% in sales to 1.52 billion francs during the quarter, while Hemlibra jumped 23% to 952 million francs, both excluding the effect of currency swings. However, analysts at brokerage Jefferies said sales gains in Hemlibra and cancer immunotherapy Tecentriq fell short of market expectations. It also reiterated that the percentage gain in core earnings per share would be in the "low- to mid-single digit" range. Roche repeated that keenly awaited trial data on experimental Alzheimer's drug gantenerumab was due to be published at the end of November.

☆ We've seen a sharp decline in Covid-related sales, says Swiss multinational health-care company
▼ + stars: | 2022-10-18 | 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 EmailWe've seen a sharp decline in Covid-related sales, says Swiss multinational health-care companySeverin Schwan, CEO of Swiss multinational health-care company Roche, discusses the company's third quarter earnings.

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