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28 July 2021
19:26 hour

This will end in a fatal od if I don't do something.

Reddit Stocks

22/07/2021 - 04:33

Salutation comrades, I am a noob and a recovering drug addict who is going through a period of sobriety and then relapse rinse repeat. Anyway in my last sober period I managed to save about 20000 but I relapsed last week and now my savings are about 18000, one week. You do the math. I don't have a debit card so I have to physically go to the bank to get cash but it didn't stop me. And now the point, would anyone be kind enough to give me some advice on a stable investment, I don't care about profit all I want is something to invest in that when I go to retrieve the funds won't have gone down a substantial amount. And something that requires a complicated method of cashing out would be a bonus. Ok carry on.   submitted by   /u/cuntrona [link]   [comments]


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  23. ImmunoGen’s post-earnings dip could be a good buying opportunity (13/05/2021 - AlphaStreet)
    Earlier this week, biotech company ImmunoGen (NASDAQ: IMGN) reported mixed financial results for the first quarter of 2021, pushing the stock into the red zone. Investors were also worried about the delays in patient enrollment and certain other COVID-related impacts on the lead program, mirvetuximab soravtansine, a Phase 3 investigational drug to treat platinum-resistant ovarian cancer. Since the announcement of the results, shares are down almost 10%, and this dip could be a good opportunity to snap a promising oncology stock. As you might be well aware, oncology treatment offers a tremendous market, which is estimated to grow at a compounded annual rate of around 10% to $284.5 billion over the next two years. Ovarian cancer, which is ImmunoGen’s primary focus, is among the most fatal gynecological malignancy. In 2020, approximately 14,000 women are estimated to have succumbed to this illness in the US alone. Hence, if ImmunoGen does succeed in its efforts, the upside potential is pretty vast. ALSO READ: RESAAS: An under-the-radar technology firm with global ops and partnerships The catch though is that oncology drugs have proved to be very difficult to develop in the first place, and hence, investing in such stocks comes with a fair amount of risk. However, mirvetuximab soravtansine has a single-arm pivotal trial and randomized confirmatory trial – both in Phase 3 – with promising results so far. The drug is also being studied in combination with Avastin, which is currently in Phase 2. The delays have pushed the expected timing of top-line data by a quarter to Q4 of this financial year. The submission of the biologics license application (BLA) with the FDA is now expected sometime in the first quarter of 2022. Importantly, the management does not expect a cost impact from the delay. ImmunoGen CFO Susan Altschuller said in an email interaction with AlphaStreet, “This was effectively a 6-week delay in patient accrual, so we do not anticipate any material impact on our expenses. Accordingly, as outlined on our call, there is no change to our guidance.” The Waltham, Massachusetts-based firm had reaffirmed its guidance on operating expenses between $200 million and $210 million when it announced results earlier this week. With no cost impact and a minor delay in the timelines hardly offers enough reasons to see the kind of sell-off it witnessed post-earnings. In fact, for a stock that has rallied over the trailing 12 months, the dip is possibly a window of opportunity. ALSO READ: Trxade expects its health passport to be a key post-pandemic reopening tool Strong pipeline, institutional backing It may be noted that apart from mirvetuximab, ImmunoGen has a few other trials ongoing to treat other forms of cancer including acute myeloid leukemia, pancreatic, gastric, etc. Even though in the early stages, these trials continue to offer promise in the oncology department. Another key reason to track this stock is its high institutional holding. Especially since the start of this year, there has been an increasing interest among institutional investors, who currently hold close to 90% of the shares. Speaking about the institutional holdings, Altschuller said, “We entered this year with significant momentum and strong prospects for the business that included two product approvals next year, important near-term catalysts with our lead program, a second pivotal program with data in the first half of 2022, accelerating earlier stage portfolio, a strong cash position, and an experienced management team to deliver on the business. This profile has catalyzed investor interest that we have further cultivated through active outreach.” The stock has a 12-month average price target of $9.13, which is at a 40% upside from Thursday’s trading price. Hence, the promising pipeline only accentuates the wealth-creation potential of the biotech firm in the long run. _____ For more insights into ImmunoGen, read the latest earnings call transcript The post ImmunoGen’s post-earnings dip could be a good buying opportunity first appeared on AlphaStreet.
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  24. Here is a Market Recap for today Thursday, April 22, 2021 (22/04/2021 - Reddit Stocks)
    PsychoMarket Recap - Thursday, April 22, 2021 Stocks fell on Thursday, erasing yesterday’s gains as market volatility continues. Stocks fell after Bloomberg reported that President Biden would propose increasing the capital gains tax rate on wealthy individuals. The S&P 500 (SPY) closed 0.91% down, the Dow Jones (DIA) closed 0.94% and the tech-heavy Nasdaq (QQQ) fell 1.21%. According to a report by Bloomberg, President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new marginal 39.6% rate would be an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor/salary. Corporate earnings have so far exceeded Wall Street’s even lofty expectations, as companies benefited from both a surge in consumer spending as the economy opens back up and cost-cutting measures implemented during the height of the pandemic. However, despite the largely positive earnings, many stocks have failed to react positively to the news. It seems as more positive economic data is released in terms of consumer spending and unemployment, it takes more and more impressive results to convince investors to pile into the stock. This suggests there is froth in the markets given the sky-high valuation of some companies, in our opinion. Jim Caron, investment management fixed income portfolio manager at Morgan Stanley (MS) said, “What we have is the absence of a catalyst. Everything that we’ve done over the last twelve months has been to build up to this point, to get this recovery, to get a very, very strong second-quarter GDP, which we think could be upwards of 10%. But after that, things start to slow down. It doesn’t mean that the data gets bad, it just means on a relative basis that the third quarter will be weaker than the second quarter and the fourth quarter may be weaker than the third quarter.” Highlights Two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla Inc. vehicles in the wake of a fatal crash in Texas. Square (SQ) announced that it plans to make new inventory-management features available to its sellers.The company is rolling out tools that help sellers automate their inventory-management processes by using barcode scanners to take stock of inventory and receiving alerts driven by machine learning to see when an item is due to run out. The White House announced more than 200 million doses of the coronavirus vaccine have been distributed in the US, greatly surpassing original estimates of 100 million doses delivered in the first 100 days of Biden’s presidency. On the back of this robust distribution, all states are beginning to open back up. Mortgage applications jumped 8.6% in the week ended April 16, marking the biggest jump since late January as mortgage rates pulled back following a surge, according to the Mortgage Bankers Association (MBA). Ford Motor (F) is planning more downtime at five North American factories due to a global semiconductor shortage. **Please note that current stock price was written in the morning and does not reflect current stock price*\* Twitter (TWTR) target raised by Argus from $72 to $82 at Buy. Stock currently around $65 Las Vegas Sands (LVS) target raised by Credit Suisse from $58 to $69 at Outperform. Stock currently around $58 Lam Research (LRCX) with a host of target raises. Consensus price target around $775 at Overweight. Stock currently around $615 Equifax (EFX) target raised by Needham & Co from $215 to $260 at Buy. Stock currently around $221 Discover Financial Services (DFS) target raised by Morgan Stanley (MS) from $108 to $114 at Equal-Weight. Stock currently around $99 NXP Semiconductors (NXPI) target raised by Oppernheimer from $210 to $235 at Outpeform. Stock currently around $196 Facebook (FB) target raised by Jefferies Financial Group from $350 to $360 at Buy. Stock currently around $296 Chipotle (CMG) with a host of target raises after a strong earnings report. Consensus price target around $1700 at Outperform. Stock currently around $1479 “All our dreams can come true, if we have the courage to pursue them.” - Walt Disney   submitted by   /u/psychotrader00 [link]   [comments]
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  25. What’s going on with the Virgin Galactic share price? (15/07/2021 - The Motley Fool UK)
    Virgin Galactic (NYSE: SPCE) and its share price have been garnering headlines recently. It successfully completed its first manned test flight with company founder Sir Richard Branson on board. Seeing this technological progress being made is indeed inspiring to me. But it seems not all investors share my enthusiasm as the stock has taken a nosedive this week. In fact, since Monday, the Virgin Galactic share price is down over 30%. While its 12-month performance is still up around 80%, the question remains – what’s causing this downward momentum? And is this a buying opportunity for my portfolio? The crashing Virgin Galactic share price The successful flight marks a massive milestone that the business has been working towards for 17 years. Yet despite this success, the stock is seeing an enormous level of selling pressure. And it’s actually quite understandable. Why? Because the company has since filed with the Securities Exchange Commission to sell up to $500m in common stock. It’s issuing new shares to raise additional capital for its next stage of commercial development. But, as a side effect, the Virgin Galactic share price is suffering from dilution. Approximately 10.2 million shares are being offered. Comparing that to the existing 240 million shares outstanding indicates a dilution effect of around 5%. That’s certainly nowhere near as large as the 30% drop in price. But it’s worth noting that Virgin Galactic’s share count has increased by over 170% since 2018. Given that the business remains pre-revenue, beyond the 600 pre-booked tickets sold, I don’t think the need to raise additional capital will disappear any time soon. In fact, I wouldn’t be surprised to see more shares issued in the future. Maybe that’s why selling pressure has been so high lately. Time to buy? Seeing a rise in the number of shares outstanding isn’t much fun for existing investors. But dilution effects are ultimately a short-term problem. Meanwhile, Virgin Galactic is receiving a significant surge of capital that can be reinvested in expanding its operations. The management team has forecast that the business will generate approximately $1bn of revenue a year per spaceport once in a commercial state. Assuming this target is reached, today’s $8bn valuation seems far more reasonable. However, it could be several years before that becomes a reality. Meanwhile, other competing companies like Jeff Bezos’ Blue Origin and Elon Musk’s SpaceX are fighting for the same niche market of customers who can afford a $250,000 ticket. I feel this is important to highlight because all it takes is one fatal accident for the reputation of any of these businesses to be severely tarnished. If such a tragedy were to occur, it wouldn’t be difficult for competitors to quickly snatch up market share. All things considered, I believe the Virgin Galactic share price has the capability of exploding over the long term. Having said that, there remain a large number of unknowns at this stage. And with its valuation seemingly being primarily driven by speculation, I’m keeping this business on my watchlist for now. The post What’s going on with the Virgin Galactic share price? appeared first on The Motley Fool UK. But there is another space-faring company that looks even more promising… Our #1 North American Stock For The ‘New-Age Space Race’ Billionaires like Jeff Bezos, Bill Gates, Elon Musk, and Mark Zuckerberg are already betting big money on the ‘new-age space race’, and for one very good reason… …because this is an industry that according to Morgan Stanley could be worth $1 TRILLION by 2040. But the problem is most of their investments are in private companies — meaning they’re largely off-limits for everyday investors. Fortunately, our team of analysts have identified one little-known company that’s at the cutting-edge of the space industry, and is currently trading at what looks like a VERY reasonable valuation… …for now. That’s why I want to urge you to check out our premium research on this top North American space stock ASAP. Simply click here to see find out how you can grab your copy today More reading Is now the time to buy Virgin Galactic stock? The Virgin Galactic share price is exploding! Should I buy now? Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Virgin Galactic Holdings Inc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
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  26. Virgin Galactic shares surge 20% as Branson tries to take lead in billionaire space race (02/07/2021 - Reddit Stock Market)
    Virgin Galactic stock SPCE surges as Richard Branson aims for July 11 (cnbc.com) PUBLISHED FRI, JUL 2 2021 8:57 AM EDT UPDATED 1 MIN AGO Michael [email protected] KEY POINTS Virgin Galactic shares surged on Friday after the space tourism venture announced its next spaceflight test will carry founder Sir Richard Branson. Two pilots will fly spacecraft VSS Unity, carrying Branson alongside three Virgin Galactic employees, planning to launch on July 11. The launch marks an attempt to beat fellow billionaire Jeff Bezos. The latter announced in May that he will launch on his company Blue Origin’s first passenger spaceflight on July 20. Virgin Galactic shares surged on Friday after the space tourism venture announced its next spaceflight test will carry founder Sir Richard Branson. The mission – with two pilots guiding spacecraft VSS Unity carrying Branson alongside three Virgin Galactic employees – plans to launch on July 11 from the company’s operations hub at Spaceport America in New Mexico. Not only does the flight represent Branson’s long-awaited trip to space, but it also marks an attempt to beat fellow billionaire Jeff Bezos. The latter announced last month that he will launch on his company Blue Origin’s first passenger spaceflight on July 20. Virgin Galactic stock jumped as much as 23% in trading, up from its previous close of $43.19 a share. The stock is up 120% so far this year, but has seen wild swings – climbing above $60 a share in February before falling to near $15 in May and then rebounding. This will be Virgin Galactic’s fourth development spaceflight to date, as the passengers are testing the cabin of VSS Unity to prepare for when the company plans to begin flying tourists and researchers in early 2022. Virgin Galactic said it will livestream the spaceflight for the first time, a feed that will be available on Twitter, YouTube and Facebook. The company has about 600 reservations for tickets on future flights, sold at prices between $200,000 and $250,000 each. Branson announced in a video on Thursday that “when we return from space, I will announce something very exciting to give more people the chance to become an astronaut.” Flipping the schedule Founded in 2004, Virgin Galactic has spent years testing its spacecraft system, with multiple setbacks and a fatal crash in 2014 delaying the company’s plans to begin flying paying customers. VSS Unity launches from a jet-powered carrier aircraft, before accelerating to more than three times the speed of sound. The spacecraft then spends a few minutes in microgravity above 80 kilometers altitude — the boundary the U.S. officially recognizes as space — before slowly flipping around and gliding back to Earth to land on the Spaceport America runway. Branson moves flight up After completing its third spaceflight test to date on May 22, Virgin Galactic leadership said there were three more spaceflight tests remaining. The first was scheduled to carry four passengers to test the cabin, the second was planned to carry Branson, and the third and final test would fly members of the Italian Air Force for professional astronaut training. But Branson’s announcement on Thursday represents a reorganization of that schedule, making his flight the next on deck. The rescheduling also came after Virgin Galactic received a key FAA license that cleared the company to fly passengers on future spaceflights. Virgin Galactic CEO Michael Colglazier emphasized in a CNBC interview last week that safety is “the first consideration.” Colglazier noted the company would only make an announcement about its next flight “when we have all those boxes checked and all the steps in place.” Launching by July 11 requires Virgin Galactic to prepare its spacecraft faster than ever before, as it will mark 50 days since its May 22 flight. The fastest Virgin Galactic has turned around VSS Unity between spaceflights is 71 days. Bezos’ company has also spent years preparing to launch its first passengers. Blue Origin’s New Shepard rocket has flown more than a dozen successful uncrewed spaceflights, with its most recent launching in April. Flying alongside Bezos will be his brother Mark, a yet unannounced winner of a $28 million public auction, and legendary aerospace pioneer Wally Funk. Blue Origin CEO Bob Smith emphasized that his company’s spacecraft travels slightly higher than Virgin Galactic’s. New Shepard passes a few kilometers above the internationally-recognized boundary of space, the Kármán Line, at 100 kilometers altitude (or about 328,000 feet). “We wish him a great and safe flight, but they’re not flying above the Kármán line and it’s a very different experience,” Smith said in a statement to CNBC.   submitted by   /u/SavannahSmiles_ [link]   [comments]
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  27. Here is a Market Recap for today Thursday, April 22, 2021 (22/04/2021 - Reddit Stock Market)
    PsychoMarket Recap - Thursday, April 22, 2021 Stocks fell on Thursday, erasing yesterday’s gains as market volatility continues. Stocks fell after Bloomberg reported that President Biden would propose increasing the capital gains tax rate on wealthy individuals. The S&P 500 (SPY) closed 0.91% down, the Dow Jones (DIA) closed 0.94% and the tech-heavy Nasdaq (QQQ) fell 1.21%. According to a report by Bloomberg, President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new marginal 39.6% rate would be an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor/salary. Corporate earnings have so far exceeded Wall Street’s even lofty expectations, as companies benefited from both a surge in consumer spending as the economy opens back up and cost-cutting measures implemented during the height of the pandemic. However, despite the largely positive earnings, many stocks have failed to react positively to the news. It seems as more positive economic data is released in terms of consumer spending and unemployment, it takes more and more impressive results to convince investors to pile into the stock. This suggests there is froth in the markets given the sky-high valuation of some companies, in our opinion. Jim Caron, investment management fixed income portfolio manager at Morgan Stanley (MS) said, “What we have is the absence of a catalyst. Everything that we’ve done over the last twelve months has been to build up to this point, to get this recovery, to get a very, very strong second-quarter GDP, which we think could be upwards of 10%. But after that, things start to slow down. It doesn’t mean that the data gets bad, it just means on a relative basis that the third quarter will be weaker than the second quarter and the fourth quarter may be weaker than the third quarter.” Highlights Two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla Inc. vehicles in the wake of a fatal crash in Texas. Square (SQ) announced that it plans to make new inventory-management features available to its sellers.The company is rolling out tools that help sellers automate their inventory-management processes by using barcode scanners to take stock of inventory and receiving alerts driven by machine learning to see when an item is due to run out. Amazon-backed home technology solutions provider SmartRent.com Inc said on Thursday it had agreed to go public through a merger with a blank-check firm, valuing the equity of the combined company at around $2.2 billion. The White House announced more than 200 million doses of the coronavirus vaccine have been distributed in the US, greatly surpassing original estimates of 100 million doses delivered in the first 100 days of Biden’s presidency. On the back of this robust distribution, all states are beginning to open back up. Mortgage applications jumped 8.6% in the week ended April 16, marking the biggest jump since late January as mortgage rates pulled back following a surge, according to the Mortgage Bankers Association (MBA). Ford Motor (F) is planning more downtime at five North American factories due to a global semiconductor shortage. **Please note that current stock price was written in the morning and does not reflect current stock price*\* Twitter (TWTR) target raised by Argus from $72 to $82 at Buy. Stock currently around $65 Las Vegas Sands (LVS) target raised by Credit Suisse from $58 to $69 at Outperform. Stock currently around $58 Lam Research (LRCX) with a host of target raises. Consensus price target around $775 at Overweight. Stock currently around $615 Equifax (EFX) target raised by Needham & Co from $215 to $260 at Buy. Stock currently around $221 Discover Financial Services (DFS) target raised by Morgan Stanley (MS) from $108 to $114 at Equal-Weight. Stock currently around $99 NXP Semiconductors (NXPI) target raised by Oppernheimer from $210 to $235 at Outpeform. Stock currently around $196 Facebook (FB) target raised by Jefferies Financial Group from $350 to $360 at Buy. Stock currently around $296 Chipotle (CMG) with a host of target raises after a strong earnings report. Consensus price target around $1700 at Outperform. Stock currently around $1479 “All our dreams can come true, if we have the courage to pursue them.” - Walt Disney   submitted by   /u/psychotrader00 [link]   [comments]
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  28. This FTSE 100 mining stock doubled in 2020. Is it still worth buying today? (24/02/2021 - The Motley Fool UK)
    Antofagasta (LSE:ANTO) is a FTSE 100 listed mining stock that operates in Chile. Despite Covid-19 causing significant disruptions to the mining industry, its share price has exploded by nearly 120% over the past 12 months. What’s going on? And should I consider adding it to my portfolio? Let’s take a look. China is causing copper prices to climb In 2020, copper inventory levels in the London Metal Exchange (LME) fell to their lowest point in the last 15 years. The supply was drastically cut due to mine closures as global lockdowns came into effect. But recently, China has issued an enormous stimulus package to reboot its economy on a scale not seen since the 2008 financial crisis. As most of China’s economy is driven by industrial manufacturing, the demand for copper has surged, while the supply remains limited. So it’s not surprising that copper prices have risen to over $8,800/tonne – the highest it’s been in nearly 10 years. But what does this have to do with Antofagasta? Well, if you haven’t guessed already, the FTSE 100 company is a leading supplier of copper. It has four mines in its portfolio that predominantly extract copper from the ground, as well as some other by-products such as gold, molybdenum (used to make steel alloys), and a small amount of silver. Overall, the business looks like it’s in a powerful position to benefit from the rising copper prices. At least that’s what I think. The risks of investing in mining stocks Mining is a hazardous process. It requires highly skilled engineers as well as a considerable level of health and safety precautions. But despite all the protections put in place, accidents do happen, and they can be fatal. While no catastrophic events have occurred since 2012 on Antofagasta’s watch, it remains an ever-present threat to the business. Accidents trigger significant reputational damage to the firm. But more importantly, if employees feel that their lives are in danger due to improper safety procedures, it’s unlikely they won’t complain. The mining sector is no stranger to worker strikes or even mass walkouts. Both of which disrupt operational performance. Another risk for this business is its international operations. As the mines are in Chile, all operational costs are paid in Chilean pesos. What’s more, Antofagasta reports its sales and earnings in US dollars. Combined, this exposes the firm to fluctuating exchange rates across multiple currencies that can negatively impact the business’s performance. Antofagasta: a FTSE 100 mining stock worth buying? Covid-19 has undoubtedly had a significant impact on Antofagasta. For the first three quarters of 2020, metal production fell compared to quarters the previous year. However, in the last three months of 2020, its mines began exceeding normal production levels. Both copper and gold production saw double-digit growth compared to the end of 2019. By the end of the year, overall copper production decreased by a marginal 4.7%. Not bad, considering the number of disruptions the company faced. With copper prices on the rise, I believe Antofagasta is on track to continue thriving in 2021. And so, its definitely a stock I’ll be considering for my portfolio. I also discovered another stock that I believe is ready to surge this week. Unlike most other businesses, Covid-19 has actually led to improved performance. Here is: One stock for a post-Covid world… Covid-19 is ripping the investment world in two… Some companies have seen exploding cash-flows, soaring valuations and record results… …Others are scrimping and suffering. Entire industries look to be going extinct. Such world-changing events may only happen once in a lifetime. And it seems there’s no middle ground. Financially, you’ll want to learn how to get positioned on the winning side. That’s why our expert analysts have put together this special report. If the pandemic has completely changed our lives forever, then they believe that this stock, hidden inside the tech-heavy NASDAQ, could be set for monstrous gains… Click here to claim your copy now — and we’ll tell you the name of this US stock… free of charge! More reading FTSE 100 stocks: a cheap UK share I might buy for my Stocks and Shares ISA Zaven Boyrazian does not own shares in Antofagasta. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post This FTSE 100 mining stock doubled in 2020. Is it still worth buying today? appeared first on The Motley Fool UK.
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  29. Here is a Market Recap for today Friday, April 23, 2021 (23/04/2021 - Reddit Stocks)
    PsychoMarket Recap - Friday, April 23, 2021 Stocks rose on Friday, largely recovering after a sharp sell-off yesterday following news that President Biden was planning a proposal to increase the capital gains tax rate on wealthy individuals. The S&P 500 (SPY) closed the day 1.10% up, recording a fresh intraday high. The Dow Jones (DIA) closed 0.67% up and the tech-heavy Nasdaq (QQQ) closed 1.26% higher. Yesterday, stocks sold off sharply following a report by Bloomberg suggesting President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new 39.6% rate would almost double the tax rate from the current base rate of 20%, people familiar with the matter said on the condition of anonymity because the plan is not yet public. The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor salary. However, the sharp bounce-back in equities today suggests the initial sell off was overdone. As we have suggested in previous recaps, the current high valuations of many companies even as corporate earnings blow past analyst expectations suggest there is froth in the market. In other words, the market is pricing in the most positive news, so it is not surprising to see any bad news sparking a sharp selloff. As Kathy Jones, chief fixed income strategist at Charles Schwab said, “I think the immediate reaction was probably a bit overdone. These proposals come out and you never know, especially with tax proposals, where we'll end up. So it looks like an opening bid. I'm sure there will be intense lobbying from the investment community to adjust those numbers. But I think at the moment, when you have very high valuations in the market, anything that is bad news can spark a bit of a sell-off." In other news, the Labor Department’s Weekly Unemployment Report blew past analyst expectations for the second straight, signaling improving conditions in the labor market and corroborating the pick-up in economic activity as the economy reopens. Initial jobless claims, week ended April 17: 547,000 vs. 610,000 expected and below last week's total of 576,000 Continuing claims, week ended April 3: 3.674 million vs. 3.650 million expected and below last week’s total of 3.708 million Highlights Kathy Entwistle, managing director at Morgan Stanley (MS), “we’re going to have our own form of the Roaring Twenties.” (Full quote here) According to the Department of Commerce, new home sales surged 20.7% in March compared to February, well above the 14.2% expected for the highest monthly surge since 2006. The U.S. manufacturing sector's preliminary purchasing managers' index for April rose to 60.6, from 59.1 in March, IHS Markit reported Friday. This marked the highest level since the firm began tracking the metric. The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. "These autos are coming. We know it. It is the future," White House climate adviser Gina McCarthy said of EVs at an event in Washington promoting administration efforts to boost EV charging. In the wake of the fatal crash of a Tesla car in Texas on Saturday, two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla vehicles. **Please note that current stock price was written during the session and may not reflect closing prices*\* Snapchat (SNAP) with two target raises after massively outperforming earnings. Stock currently around $61 Morgan STanley from $74 to $75 at Overweight. Barclays from $66 to $75 Skechers (SKX) target raised by UBS Group from $52 to $57 at Buy. Stock currently around $52. Stock gapped up 14% today Mattel (MAT) target raised by DA Davidson from $23 to $28.50 at Buy. Stock currently around $21 DR Horton (DHI) with two target raises. Stock currently around $98 Raymond James from $91 to $110 at Outperform BTIG Research from $108 to $124 at Buy Discover Financial Services (DFS) with two target raises. Stock currently around $103 Barclays from $11 to $132 at Overweight. Deutsche Bank from $110 to $120 at Hold Alphabet (GOOG, GOOGL) target raised by BMO Capital Markets from $2350 to $2600 at Outperform. Stock currently around $2300 “The secret of getting ahead is getting started.” – Mark Twain.   submitted by   /u/psychotrader00 [link]   [comments]
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  30. The Cineworld share price bounces back from 88p! Would I buy this stock today? (25/03/2021 - The Motley Fool UK)
    Today was a lively one for Cineworld (LSE: CINE) shares. After closing at 102.8p on Wednesday, the Cineworld share price oscillated wildly. As I write, CINE shares hover around 94.3p, down 8.5p (8.3%) overnight. But this drop masks some major price moves this morning. The Cineworld share price plummets This morning, the share price went into freefall. After gapping down at the open, it slumped to a low of 88.24p. That was a collapse of 14.56p, or a seventh (14.2%). However, this proved to be the low for the FTSE 250 stock, as it rebounded by over 6p. What caused this share slide? The answer is that the company released a shocking set of results for 2020. Cineworld lost a whopping $3bn last year Cineworld is the world’s second-largest cinema chain, with operations in 10 countries at 767 locations. Around three-quarters (73%) of its revenues come from the US, where most states have ordered cinemas to close. As a result, the share price crashed steeply last year. If Cineworld’s 2020 results were a film, I suspect that they would be a horror movie. Here’s the headline figure: the embattled cinema chain lost $3bn before tax last year, versus a pre-tax profit of $212m in 2019. CEO Mooky Greidinger said that this was the group’s first yearly loss in its 91-year history. For sure, with cinemas closed around the globe, the business model was in big trouble. Even so, this loss was higher than most analysts predicted, hence the initial steep fall in the Cineworld share price. With cinemas shut down, yearly revenues collapsed by four-fifths (80%) to just $852m. However, with locked-down consumers eager to get back to normal, Cineworld expects 2021/22 to be a bumper period. That said, the group also warned that box-office attendance would be least 5% below pre-Covid-19 levels until 2024. With bad news like this, it’s no wonder that the share price languishes at 30.55p — almost a quarter (24.5%) — below its 52-week high of 124.85p on 19 March (just six days ago). Net debt explodes to $8.3bn In this horror movie, what frightens me most about Cineworld is its colossal debt burden. At present, the cinema chain’s shareholder equity is valued at around £1.3bn ($1.78bn). Today, the firm announced that it will raise another $213m of liquidity through a convertible bond maturing in 2025. This is on top of existing net debt of $8.3bn. That’s right: the company’s debt is almost 4.7 times its outstanding equity. Were interest rates not so incredibly low, this debt mountain might prove crippling or even fatal. Even so, with such massive obligations hanging over the business, I fear for the Cineworld share price. Would I buy Cineworld at this share price? So would I buy? My answer is an immediate and resounding no. As a veteran value investor, I aim to buy into companies with predictable revenues, earnings, cash flow and dividends. For me, the Cineworld share price is a high-risk bet on rapid growth of the movie/popcorn industry. Of course, I could well be wrong and the Cineworld movie might turn into a feel-good comedy, one leaving shareholders laughing as the shares soar. That really could happen if a much-talked-about leisure spending boom comes about. Whatever happens, just like a Michael Bay blockbuster, there’s going to plenty of action, adventure and plot twists along the way! The high-calibre small-cap stock flying under the City’s radar Adventurous investors like you won’t want to miss out on what could be a truly astonishing opportunity… You see, over the past three years, this AIM-listed company has been quietly powering ahead… rewarding its shareholders with generous share price growth thanks to a carefully orchestrated ‘buy and build’ strategy. And with a first-class management team at the helm, a proven, well-executed business model, plus market-leading positions in high-margin, niche products… our analysts believe there’s still plenty more potential growth in the pipeline. Here’s your chance to discover exactly what has got our Motley Fool UK investment team all hot-under-the-collar about this tiny £350+ million enterprise… inside a specially prepared free investment report. But here’s the really exciting part… right now, we believe many UK investors have quite simply never heard of this company before! Click here to claim your copy of this special investment report — and we’ll tell you the name of this Top Small-Cap Stock… free of charge! More reading Here’s why Cineworld share price is crashing today This is why I’d ignore the Cineworld share price and buy other cheap UK shares! 1 stock I’d buy and 1 I’d avoid for my Stocks and Shares ISA Cineworld shares dip on reopening news: what I’d do now 3 reasons why the Cineworld share price rallied 16% last week Cliffdarcy has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post The Cineworld share price bounces back from 88p! Would I buy this stock today? appeared first on The Motley Fool UK.
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  31. Here is a Market Recap for today Wednesday, April 7, 2021 (07/04/2021 - Reddit Stocks)
    PsychoMarket Recap - Wednesday, April 7, 2021 Stocks traded largely flat on Wednesday, with the S&P 500 (SPY) and Dow Jones (DIA) hovering near record highs, as market participants continue to consider the latest batch of strong economic data and commentary by FOMC members. This week, market participants have digested a host of better-than-expected economic data, with the March job report blowing past consensus estimates, an index tracking activity in the service sector reached a record level, and The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to a reading of 64.7 last month from 60.8 in February, the highest level since December 1983. The International Monetary Fund upgraded its global growth forecast to 6% this year from the 5.5% rise seen previously, largely reflecting the expectation of quick recovery in the U.S. economy. Moreover, JP Morgan (JPM) CEO Jamie Dimon said the current US economic boom “could easily run into 2023” amid the massive fiscal and monetary policy support provided to people and businesses. This week, the Federal Open Market Committee have shed light on how monetary policymakers are thinking about the current economic climate. Most important, market participants want to know what conditions would warrant an adjustment of the Fed’s current policy stance and their thoughts on potential inflation. FOMC members noted that the economy was “far from achieving the [FOMC’s] broad-based an inclusive goal of maximum employment” suggesting policymakers are willing to maintain their current accommodative stance for the foreseeable future, barring a sharp and unforeseen upturn in inflation or economic recovery. Looking ahead, we are eagerly awaiting first-quarter earnings season in the coming weeks, with the hope that the reports show corporate profits are growing strongly in tandem with strengthening economic conditions. Deutsche Bank Strategist Binky Chadha wrote in a note “Very near term, we expect equities to continue to be well supported by the acceleration in macro growth, and see buying by systematic strategies and buybacks driving a grind higher. But we expect a significant period of consolidation as growth peaks over the next three months.” Highlights Shares of embattled EV-company Nikola (NKLA) sank further after the company said its head of fuel-cell development departed from the company. An index tracking U.S. mortgage applications slid for a fifth straight week last week as mortgage rates climbed higher. Mortgage applications fell by 5.1% week-on-week, the Mortgage Bankers Association said Wednesday. Both Instacart and DoorDash (DASH) plan to launch their own credit cards JPMorgan may eventually move all its European operations from London following Brexit, according to multiple reports. Advanced Micro Devices (AMD) and Xilinx (XLNX) shareholders voted to approve AMD’s acquisition of Xilinx, the companies said Wednesday. The deal needs to pass regulatory approvals and is expected to close by the end of 2021. Nio said Wednesday its 100,000th mass-produced vehicle rolled out of the production line. It has taken Nio a little less than three years fro mthe rollout of their first vehicle to reach this milestone BYD (BYDDY), a Chinese EV company that is backed by Berkshire Hathaway (BRK.B) sold 38,599 vehicles, a 113% year-on-year. **Please note that current stock price was written premarket and does not reflect intraday movement*\* Applied Materials (AMAT) with too many target raises to list. Consensus price target $150 at Buy. Stock currently around $140 Citigroup (C) target raised by Barclays from $77 to $84 at Equal-Weight. Stock currently around $73 Capital One Financial (COF) target raised by Barclays from $145 to $162 at Overweight. Stock currently around $132 Discovery (DISCA) target raised by Deutshce Bank from $35 to $60 at Buy. Stock currently around $43 Goldman Sachs (GS) target raised by Barclays from $392 to $420 at Overweight. Stock currently around $327 JP Morgan (JPM) target raised by Barclays from $172 to $187 at Overweight. Stock currently around $153 Paychex (PAYX) target raised by Argus from $103 to $105 at Buy. Stock currently around $95 SMART Global (SGH) with three target raises. Stock currently around $49 Needham & Co from $56 to $65 Buy Stifel Nicolaus from $55 to $62.50 Buy Deutsche Bank from $48 to $60 at Buy. Tapestry (TPR) target raised by Piper Sandler from $45 to $54 at Overweight. Stock currently around $43 Voya Financial (VOYA) target raised by Royal Bank of Canada from $66 to $74 at Outperform. Stock currently around $66 Whirlpool (WHR) target raised by JP Morgan (JPM) from $258 to $261 at Overweight. Stock currently around $234 “Success is not final, failure is not fatal: It is the courage to continue that counts.” - Winston Churchill   submitted by   /u/psychotrader00 [link]   [comments]
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  32. Here is a Market Recap for today Wednesday, April 7, 2021 (07/04/2021 - Reddit Stock Market)
    PsychoMarket Recap - Wednesday, April 7, 2021 Stocks traded largely flat on Wednesday, with the S&P 500 (SPY) and Dow Jones (DIA) hovering near record highs, as market participants continue to consider the latest batch of strong economic data and commentary by FOMC members. This week, market participants have digested a host of better-than-expected economic data, with the March job report blowing past consensus estimates, an index tracking activity in the service sector reached a record level, and The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to a reading of 64.7 last month from 60.8 in February, the highest level since December 1983. The International Monetary Fund upgraded its global growth forecast to 6% this year from the 5.5% rise seen previously, largely reflecting the expectation of quick recovery in the U.S. economy. Moreover, JP Morgan (JPM) CEO Jamie Dimon said the current US economic boom “could easily run into 2023” amid the massive fiscal and monetary policy support provided to people and businesses. This week, the Federal Open Market Committee have shed light on how monetary policymakers are thinking about the current economic climate. Most important, market participants want to know what conditions would warrant an adjustment of the Fed’s current policy stance and their thoughts on potential inflation. FOMC members noted that the economy was “far from achieving the [FOMC’s] broad-based an inclusive goal of maximum employment” suggesting policymakers are willing to maintain their current accommodative stance for the foreseeable future, barring a sharp and unforeseen upturn in inflation or economic recovery. Looking ahead, we are eagerly awaiting first-quarter earnings season in the coming weeks, with the hope that the reports show corporate profits are growing strongly in tandem with strengthening economic conditions. Deutsche Bank Strategist Binky Chadha wrote in a note “Very near term, we expect equities to continue to be well supported by the acceleration in macro growth, and see buying by systematic strategies and buybacks driving a grind higher. But we expect a significant period of consolidation as growth peaks over the next three months.” Highlights Shares of embattled EV-company Nikola (NKLA) sank further after the company said its head of fuel-cell development departed from the company. An index tracking U.S. mortgage applications slid for a fifth straight week last week as mortgage rates climbed higher. Mortgage applications fell by 5.1% week-on-week, the Mortgage Bankers Association said Wednesday. Both Instacart and DoorDash (DASH) plan to launch their own credit cards JPMorgan may eventually move all its European operations from London following Brexit, according to multiple reports. Advanced Micro Devices (AMD) and Xilinx (XLNX) shareholders voted to approve AMD’s acquisition of Xilinx, the companies said Wednesday. The deal needs to pass regulatory approvals and is expected to close by the end of 2021. Nio said Wednesday its 100,000th mass-produced vehicle rolled out of the production line. It has taken Nio a little less than three years fro mthe rollout of their first vehicle to reach this milestone BYD (BYDDY), a Chinese EV company that is backed by Berkshire Hathaway (BRK.B) sold 38,599 vehicles, a 113% year-on-year. **Please note that current stock price was written premarket and does not reflect intraday movement*\* Applied Materials (AMAT) with too many target raises to list. Consensus price target $150 at Buy. Stock currently around $140 Citigroup (C) target raised by Barclays from $77 to $84 at Equal-Weight. Stock currently around $73 Capital One Financial (COF) target raised by Barclays from $145 to $162 at Overweight. Stock currently around $132 Discovery (DISCA) target raised by Deutshce Bank from $35 to $60 at Buy. Stock currently around $43 Goldman Sachs (GS) target raised by Barclays from $392 to $420 at Overweight. Stock currently around $327 JP Morgan (JPM) target raised by Barclays from $172 to $187 at Overweight. Stock currently around $153 Paychex (PAYX) target raised by Argus from $103 to $105 at Buy. Stock currently around $95 SMART Global (SGH) with three target raises. Stock currently around $49 Needham & Co from $56 to $65 Buy Stifel Nicolaus from $55 to $62.50 Buy Deutsche Bank from $48 to $60 at Buy. Tapestry (TPR) target raised by Piper Sandler from $45 to $54 at Overweight. Stock currently around $43 Voya Financial (VOYA) target raised by Royal Bank of Canada from $66 to $74 at Outperform. Stock currently around $66 Whirlpool (WHR) target raised by JP Morgan (JPM) from $258 to $261 at Overweight. Stock currently around $234 “Success is not final, failure is not fatal: It is the courage to continue that counts.” - Winston Churchill   submitted by   /u/psychotrader00 [link]   [comments]
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  33. Here is a Market Recap for today Friday, April 23, 2021 (23/04/2021 - Reddit Stock Market)
    PsychoMarket Recap - Friday, April 23, 2021 Stocks rose on Friday, largely recovering after a sharp sell-off yesterday following news that President Biden was planning a proposal to increase the capital gains tax rate on wealthy individuals. The S&P 500 (SPY) closed the day 1.10% up, recording a fresh intraday high. The Dow Jones (DIA) closed 0.67% up and the tech-heavy Nasdaq (QQQ) closed 1.26% higher. Yesterday, stocks sold off sharply following a report by Bloomberg suggesting President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new 39.6% rate would almost double the tax rate from the current base rate of 20%, people familiar with the matter said on the condition of anonymity because the plan is not yet public. The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor salary. However, the sharp bounce-back in equities today suggests the initial sell off was overdone. As we have suggested in previous recaps, the current high valuations of many companies even as corporate earnings blow past analyst expectations suggest there is froth in the market. In other words, the market is pricing in the most positive news, so it is not surprising to see any bad news sparking a sharp selloff. As Kathy Jones, chief fixed income strategist at Charles Schwab said, “I think the immediate reaction was probably a bit overdone. These proposals come out and you never know, especially with tax proposals, where we'll end up. So it looks like an opening bid. I'm sure there will be intense lobbying from the investment community to adjust those numbers. But I think at the moment, when you have very high valuations in the market, anything that is bad news can spark a bit of a sell-off." In other news, the Labor Department’s Weekly Unemployment Report blew past analyst expectations for the second straight, signaling improving conditions in the labor market and corroborating the pick-up in economic activity as the economy reopens. Initial jobless claims, week ended April 17: 547,000 vs. 610,000 expected and below last week's total of 576,000 Continuing claims, week ended April 3: 3.674 million vs. 3.650 million expected and below last week’s total of 3.708 million Highlights Kathy Entwistle, managing director at Morgan Stanley (MS), “we’re going to have our own form of the Roaring Twenties.” (Full quote here) According to the Department of Commerce, new home sales surged 20.7% in March compared to February, well above the 14.2% expected for the highest monthly surge since 2006. The U.S. manufacturing sector's preliminary purchasing managers' index for April rose to 60.6, from 59.1 in March, IHS Markit reported Friday. This marked the highest level since the firm began tracking the metric. Bitcoin (BTC) and other cryptos sold off sharply over concerns over higher capital gains taxes, with BTC on route for its worst run of performance in two months. The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. "These autos are coming. We know it. It is the future," White House climate adviser Gina McCarthy said of EVs at an event in Washington promoting administration efforts to boost EV charging. In the wake of the fatal crash of a Tesla car in Texas on Saturday, two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla vehicles. **Please note that current stock price was written during the session and may not reflect closing prices*\* Snapchat (SNAP) with two target raises after massively outperforming earnings. Stock currently around $61 Morgan STanley from $74 to $75 at Overweight. Barclays from $66 to $75 Skechers (SKX) target raised by UBS Group from $52 to $57 at Buy. Stock currently around $52. Stock gapped up 14% today Mattel (MAT) target raised by DA Davidson from $23 to $28.50 at Buy. Stock currently around $21 DR Horton (DHI) with two target raises. Stock currently around $98 Raymond James from $91 to $110 at Outperform BTIG Research from $108 to $124 at Buy Discover Financial Services (DFS) with two target raises. Stock currently around $103 Barclays from $11 to $132 at Overweight. Deutsche Bank from $110 to $120 at Hold Alphabet (GOOG, GOOGL) target raised by BMO Capital Markets from $2350 to $2600 at Outperform. Stock currently around $2300 “The secret of getting ahead is getting started.” – Mark Twain.   submitted by   /u/psychotrader00 [link]   [comments]
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  34. 3 quality cheap stocks to buy now (12/07/2021 - The Motley Fool UK)
    I’m seeing a number of quality cheap stocks I’d like to buy now. This is despite the FTSE 100 being up 10.2% for the year to date and 17.7% on a 12-month view. Economically sensitive stocks, like Lloyds, have thrived on generally rising optimism in 2021. By contrast, some of the index’s quality ‘defensive’ stocks have underperformed. I think this makes it a good time for me to invest in them. My 3 quality cheap stocks to buy now British American Tobacco (LSE: BATS), silver and gold miner Fresnillo (LSE: FRES) and household goods group Reckitt (LSE: RKT) are strong businesses, in my view. But demand for their shares has been weak for a while. The table below shows their performances relative to the FTSE 100 for the year to date and over the last 12 months.   Year to date (%) 12 months (%) BATS -7.8 -22.8 FRES -39.3 -31.2 RKT -11.9 -32.7 As you can see, BATS, FRES and RKT have seriously underperformed the Footsie over both periods. However, I reckon going against the crowd and buying these quality cheap stocks today could serve me well in the long term. Friendless Fresnillo Fresnillo is the world’s largest primary silver producer and Mexico’s second-largest gold producer. It has a long history of mining, and a proven track record of mine development and reserve replacement. It’s been the worst performer of the FTSE 100 so far in 2021. This has left the shares trading at 14.1 times forecast earnings with a prospective dividend yield of 3.3%. I think this represents good value. However, like most London-listed miners, Fresnillo operates in a country with above-average political risk. To mitigate risk, I’d feel inclined to split my investment, and buy fellow gold and silver miner Polymetal International alongside Fresnillo. Polymetal, whose mines are in Russia and Kazakhstan, has also underperformed the Footsie this year. Rejected Reckitt Geographical diversification isn’t an issue with out-of-favour Reckitt. It’s a multinational business, selling category-leading health, hygiene and nutrition products in 200 countries. Its world No. 1 brands include Durex, Calgon and Nutramigen. After the recent weakness in its shares, Reckitt’s priced at 21.2 times forecast earnings with a prospective dividend yield of 2.7%. This is a richer rating than Fresnillo’s, but fast-moving consumer goods (FMCG) companies, like Reckitt, typically trade on earnings multiples in the 20s — and in the mid-to-high 20s when market sentiment is more favourable than today. In the modern digital world of social media influencers and so on, barriers to building new brands are lower than they once were. Nevertheless, I feel Reckitt has the strength to handle competition and is a quality cheap stock for me to buy now. Blackballed BATS British American Tobacco is the world’s most international tobacco group, operating in more countries than any other. I mentioned that FMCG companies are typically highly rated by the market. Tobacco companies are currently exceptions to the rule. Unloved BATS trades at just 8.5 times forecast earnings with a gigantic prospective yield of 7.8%. I think many market participants see rising health awareness and regulatory risk as fatal to the investment case. However, obituaries for tobacco companies have been written for many years. Reports of their death have so far proved to be greatly exaggerated. I think the risks and challenges facing BATS are more than offset by the bargain-basement earnings multiple and terrific yield. As such, I’m looking at it as another quality cheap stock to buy now. The post 3 quality cheap stocks to buy now appeared first on The Motley Fool UK. One Killer Stock For The Cybersecurity Surge Cybersecurity is surging, with experts predicting that the cybersecurity market will reach US$366 billion by 2028 — more than double what it is today! And with that kind of growth, this North American company stands to be the biggest winner. Because their patented “self-repairing” technology is changing the cybersecurity landscape as we know it… We think it has the potential to become the next famous tech success story. In fact, we think it could become as big… or even BIGGER than Shopify. Click here to see how you can uncover the name of this North American stock that’s taking over Silicon Valley, one device at a time… More reading 3 embarrassingly-cheap dividend stocks With £5,000, 3 top dividend stocks to buy now 2 high-yield dividend stocks to watch in 2021 2 inflation-busting stocks to stop returns going up in smoke 2 cheap shares I’d buy in July at deep discounts G A Chester has no position in any of the shares mentioned. The Motley Fool UK has recommended British American Tobacco and Fresnillo. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
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  35. The TUI share price has delivered a 42% return in three months. Should I invest? (17/02/2021 - The Motley Fool UK)
    Airline operator and FTSE 250 travel group TUI (LSE:TUI) has seen its fortunes pivot in the past three months. After being hammered by the pandemic, news of the vaccine rollout prompted a rush to buy shares and the TUI share price has recovered 42% since mid-November. TUI’s share price endures extreme volatility Operating in the hospitality, restaurant and leisure sector has not been much fun since the pandemic hit. And volatility across the markets has been rife. Unfortunately, that 42% jump isn’t as rosy as it sounds. That’s because the TUI share price has actually experienced extreme volatility during this period and shareholders who bought in at the peak on January 21 will be down 16%. The recent drop comes in the wake of further UK travel restrictions. The UK government is bringing in tougher sanctions on travel arrangements, which doesn’t bode well for TUI. The rules include travellers having to pay to quarantine in government-designated hotels (usually around London). This news is likely to discourage people from flying abroad anytime soon. Thus, adding further risk to investing in travel stocks. Other TUI news This week TUI announced it’s continuing its cancellation of Marella Cruises at least until April 30. It’s also cutting up to 180 jobs in Spain. In slightly better news, TUI has become the first European airline to resume Boeing 737 MAX flights. These airliners were grounded globally after two fatal crashes. But after the US lifted its ban, the European authorities recently followed. It’s worth remembering that TUI wasn’t in great shape even before the pandemic hit. It did briefly benefit from Thomas Cook’s demise, but prior to that was suffering from the 737 MAX grounding. FTSE 250 stock’s financial outlook The job cuts and streamlining that Covid-19 enforced mean it could be in better shape going forward. However, its debt levels have increased exponentially this year. And last year the company reported a £2.8bn pre-tax loss to September 30. Then, in its most recent trading update for Q1, it posted revenues of £410m, which was down over 87% year-on-year. At the end of 2019, TUI’s market cap was £5.4bn, but today it’s fallen to around £2bn. Going on the basis that 2.8m customers had already booked its holidays, the company said it expects to be running at 80% of its normal capacity for this summer. However, many pundits think that’s wishful thinking and Grant Shapps, UK Secretary of State for Transport, agrees. He said: “People shouldn’t be booking holidays right now – not domestically or internationally.” TUI shares are cheap, but that doesn’t mean they’re a bargain. For investors with a tolerance for risk, TUI may prove a lucrative recovery play. Personally, I’m not ready to dip my toe in the travel sector and I don’t think TUI is among the best shares to buy now. Therefore, I won’t be investing in this FTSE 250 stock. For regular stock market investing ideas and help choosing the best UK shares to buy now, sign up to The Motley Fool today. A Top Share with Enormous Growth Potential Savvy investors like you won’t want to miss out on this timely opportunity… Here’s your chance to discover exactly what has got our Motley Fool UK analyst all fired up about this ‘pure-play’ online business (yes, despite the pandemic!). Not only does this company enjoy a dominant market-leading position… But its capital-light, highly scalable business model has previously helped it deliver consistently high sales, astounding near-70% margins, and rising shareholder returns … in fact, in 2019 it returned a whopping £150m+ to shareholders in dividends and buybacks! And here’s the really exciting part… While COVID-19 may have thrown the company a curveball, management have acted swiftly to ensure this business is as well placed as it can be to ride out the current period of uncertainty… in fact, our analyst believes it should come roaring back to life, just as soon as normal economic activity resumes. That’s why we think now could be the perfect time for you to start building your own stake in this exceptional business – especially given the shares look to be trading on a fairly undemanding valuation for the year to March 2021. Click here to claim your copy of this special report now — and we’ll tell you the name of this Top Growth Share… free of charge! More reading Will the TUI share price ever return to pre-pandemic levels? I’ll avoid the TUI share price. I prefer this FTSE 2020 top performer for 2021 Can the TUI share price double in 2021? 1 FTSE 250 stock I’d buy today and 1 I’d avoid Here’s what I think Warren Buffett would do regarding the TUI share price right now Kirsteen has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post The TUI share price has delivered a 42% return in three months. Should I invest? appeared first on The Motley Fool UK.
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  36. Cineworld’s share price is still rising! Here’s what I’m doing now (26/05/2021 - The Motley Fool UK)
    The Cineworld Group (LSE: CINE) share price has recovered strongly after hitting multi-month lows in early May. The UK leisure chain moved closer to the £1 per share market following an excited reaction to latest financials earlier this week. The current market buzz means that Cineworld could be propelled above penny stock status in the very near future. Cineworld’s share price is soaring on news that moviegoers are flocking back to its theatres as coronavirus lockdowns are eased. It goes some way to assuage fears that ticket sales would struggle as the pandemic rolls on and people stay glued to streaming services like Amazon Prime and Netflix instead. But is now the time to buy in? Cineworld’s share price rises again! In case you missed it, Cineworld said earlier this week that it had enjoyed “a strong opening weekend in the UK” as it reopened its theatres in line with government guidance. In fact it said that its weekend performance “went beyond our expectations as customers were eager to return to the movies and enjoy the full movie experience”. Indeed, Cineworld said that it experienced strong concession sales too. The roaring success of Peter Rabbit 2: The Runaway helped to drive strong takings last weekend. And chief executive Mooky Greidinger commented that “with the releases next week of Cruella, and A Quiet Place 2, we expect next weekend’s results to be strong”. Greidinger added that “when combined with improving consumer confidence and the success of the vaccination rollout, we expect a good recovery in attendance over the coming months”. Outside of the UK, Cineworld said that 97% of the 500-plus cinemas in its core US territory were now open. It added that most of its cinemas in Poland and Israel should be re-opened by the month’s end. Is now the time to buy? The Cineworld share price may be on the march again. But I’m afraid I’m still not tempted to buy back into this FTSE 250 share. I sold my holdings in the UK leisure share late last year on fears over its huge debt pile. My concerns surrounding this issue haven’t abated, either. At the same time, the long-term threat posed by streaming companies has increased as studios have changed their movie release models to cater more effectively to audiences at home. Going to the cinema has long been one of the most popular leisure activities for around a century. And it’s possible that Cineworld might enjoy a strong and sustained recovery following Covid-19 lockdowns, and deliver terrific shareholder returns in the process. Let’s not forget that the global box office sat at fresh all-time highs before the public health emergency, in 2019. That said, I still think the Cineworld share price carries too much risk right now. Any fresh surge in Covid-19 cases could cause its cinemas to shut en masse once more. It already faces a long road ahead to get its debt mountain off the books. Fresh lockdowns could prove fatal. I’d much rather buy other UK shares for the moment. FREE REPORT: Why this £5 stock could be set to surge Are you on the lookout for UK growth stocks? If so, get this FREE no-strings report now. While it’s available: you’ll discover what we think is a top growth stock for the decade ahead. And the performance of this company really is stunning. In 2019, it returned £150million to shareholders through buybacks and dividends. We believe its financial position is about as solid as anything we’ve seen. Since 2016, annual revenues increased 31% In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259 Operating cash flow is up 47%. (Even its operating margins are rising every year!) Quite simply, we believe it’s a fantastic Foolish growth pick. What’s more, it deserves your attention today. So please don’t wait another moment. Get the full details on this £5 stock now – while your report is free. More reading Cineworld shares: why I won’t be investing The Cineworld share price is rising again. Should I buy now? Is the Cineworld share price a reopening opportunity? Will the Cineworld (CINE) share price rise with soaring seat sales? Short sellers are pushing the Cineworld share price down! John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Royston Wild has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Amazon and Netflix and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post Cineworld’s share price is still rising! Here’s what I’m doing now appeared first on The Motley Fool UK.
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  37. 2 of the best FTSE 100 shares to buy now and hold for 20 years (26/02/2021 - The Motley Fool UK)
    I often hear criticism that the FTSE 100 index is laden with companies nobody wants these days. Think of the banks, mining companies and old-fashioned energy firms. Nevertheless, while buying a FTSE 100 index tracker for my portfolio may not give me explosive growth, I’m confident that seeking out the index’s high-quality individual companies to invest in is a wise long-term investment strategy for me. As such, I’m going to discuss two FTSE 100 shares that I think are among the best I can buy now and hold for 20 years. A long-term play with even more upside potential My first pick is Ocado (LSE: OCDO). It has witnessed blistering share price growth over previous years. In many ways it has been the success story of the pandemic. The online grocery retailer is successfully leading the way in an industry that looks set to dominate in the future. Ocado’s high-tech warehouses are decked out with state-of-the-art robotic systems. These robots help to process a vast number of orders each week. Furthermore, with the pandemic turbocharging the shift towards online shopping, I think Ocado is well positioned.  This reflects in the company’s recent financial performance. Earlier in the month, Ocado reported a 32.7% increase in group revenue, adding to the already outstanding performance of the company over the last few years. However, it’s certainly not all plain sailing. My principal concern is the cost of expansion. Capital expenditure has rocketed as the group pours significant sums of money into funding its Customer Fulfilment Centres globally. Similarly, in November last year, the company acquired two robotics companies for a hefty price tag. Both of these investments come with substantial costs and it’ll take years to discover whether or not they’re worthwhile. Furthermore, the cost of investment caused the group to post an overall loss before tax of £44m in 2020. Nevertheless, I remain confident that it’s exactly this kind of investment that will power Ocado’s growth moving forward. In fact, I’m actually encouraged to see such heavy investment, particularly as it should continue increasing operational capacity and revenues. Therefore, I’d buy and hold for the long term. I expect strong share price growth could deliver me favourable returns over the next 20 years. A future-proof business? I have security software company Avast (LSE: AVST) firmly on my watchlist too. Operating with two segments, Avast offers consumer products and products for small and medium businesses. With the pandemic adding to society’s reliance on technology, finding ways to protect personal and business data online is of paramount importance. This is where Avast steps in, offering cybersecurity protection through a range of solutions. Earnings have increased at an impressive rate and the company maintains an impressive roughly-50% free cash flow margin. However, as my colleague Royston Wild pointed out, hackers are becoming increasingly sophisticated and state-sponsored attacks are on the up. As such, a single high-profile failure of Avast’s cybersecurity framework could deal a fatal blow to sales and consequently, the company’s valuation. All eyes will remain on whether or not Avast can continue to successfully navigate the dynamic nature of the cybersecurity industry. Even so, with analysts at Berenberg outlining how Avast “offers a rare combination of growth and value”, I see the benefits outweighing the risks. I’d buy for my portfolio and hold for as long as possible. Speaking of the best shares to buy now and hold for 20 years, take a look at this top pick from The Motley Fool’s analysts… FREE REPORT: Why this £5 stock could be set to surge Are you on the lookout for UK growth stocks? If so, get this FREE no-strings report now. While it’s available: you’ll discover what we think is a top growth stock for the decade ahead. And the performance of this company really is stunning. In 2019, it returned £150million to shareholders through buybacks and dividends. We believe its financial position is about as solid as anything we’ve seen. Since 2016, annual revenues increased 31% In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259 Operating cash flow is up 47%. (Even its operating margins are rising every year!) Quite simply, we believe it’s a fantastic Foolish growth pick. What’s more, it deserves your attention today. So please don’t wait another moment. Get the full details on this £5 stock now – while your report is free. More reading Can Ocado stock stay strong in a post pandemic world? This FTSE 100 stock is up 806% since 2016. Is it the best UK share to buy today? Is this the best FTSE 100 growth share to buy for the next decade? The Ocado share price is around 2,300p. Would I buy now? 3 reasons why the Ocado share price fell 7% last week Matthew Dumigan has no position in any of the shares mentioned. The Motley Fool UK has recommended Avast Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. The post 2 of the best FTSE 100 shares to buy now and hold for 20 years appeared first on The Motley Fool UK.
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  38. SPCE DD - Test Flight Delay (16/02/2021 - Reddit Stocks)
    Hello all! Test flight has been delay...so what? This is a long play. You can turn around and make good money off the space tourism but truthfully, this play is meant for the hypersonic point-to-point travel that will be coming to fruition sometime near 2025 pioneered by Virgin Galactic with the help of NASA, Rolls Royce, Boeing, and Lockheed Martin. Let's talk most recent timeline: December 12 2020: The test flight didn't go as planned, a software issue prevented the rocket from igniting. What can we take away from this? Truthfully, this became a more bullish signal and the charts reflect that. A large concern with this company was "what if it blows up?". This "failed" test flight proved that the fail safes in place are functioning and convinced long term holders to enter. One has to wonder if this flight purposely didn't succeed to change the fear and narrative regarding a fatal launch. Following this incident, there was a rather large decline in the price followed by a massive uptick where the price now floats between $50-60. February 13 2021: The test flight was delayed, and we saw an 8-9% drop on Friday due to that news. The news hit after hours and the market is closed today. It's hard to say if the price will continue falling this week or how the market will react to this. I follow the 3 days rule allowing news to circulate before assuming anything is complete. February 2021: I have heard rumors from other posts that a spokeswoman announced the test flight is still predicted to happen within the month of February. If someone could confirm or deny this that would be fantastic. Q1 2021: The Q3 Earnings Presentation outlines the plans that remain the same but are now pushed back. We are waiting on three flights before this gets really insane: This upcoming test flight will be the first spaceflight from Spaceport America, NM. It will be a revenue generating flight carrying NASA payloads, there will be no passengers (just the two pilots), and it will complete the data needed for FAA V&V elements. The second test flight from Spaceport America will have two pilots and four employees in the cabin. The third test flight will be carrying Sir Richard Branson himself to space marking the start of commercial operations and PR. (I think it's likely this flight doesn't take place until Q2) Once Branson goes up (presumably sometime in Q2 even though they are still claiming Q1) and commercial operations begin the 600+ individuals who have already purchased tickets will begin their flights. Here is a list of some noteworthy celebrities who will be flying shortly after Branson. The amount of PR that will come from this is astounding. Imagine if Rhianna or Bieber record a music video up there? Or if Ashton Kutcher and Mila Kunis share a kiss or renew their vows in space? Even without these major kind of events, the PR from celebrities posting videos of them going up period is mind-boggling. Surviving to 2025: This is all well and good, Space Tourism is a huge market waiting to be tapped that both Jeff Bezos (Blue Origin) and Elon Musk (SpaceX) are attempting to break into. Blue Origin is a director competitor in the space tourism sector as they will be providing a similar experience to sub-orbit. SpaceX is an indirect competitor because as it stands their space tourism will be orbital space, we are talking like a week long multi-million dollar vacation. Currently, SPCE has one Space Plane and their second one is almost complete. They are predicting $1BN/spaceport/year. There are other revenue streams such as running NASA payloads, scientists, data collection, and astronaut training as well. Given that Virgin Galactic has this revenue plus $742 million as of September 30, 2020; I feel it is safe to say they will not have trouble surviving until 2025, in fact, it appears they will be quite profitable until that date. Beyond 2025: Ark claims hypersonic point-to-point travel could evolve into a $270BN market. Virgin Galactic is certainly leading the charge in this industry with Boeing, Rolls Royce, and NASA helping this come to fruition. Let's play with this number for a little: Virgin Galactic Shares Outstanding: 234.34M Market cap of Hypersonic Travel: $270BN Let's make 3 assumptions, SPCE is the first and has 100% of the market, SPCE and SpaceX arrive at the same time and share 50/50 of the market, a lot happens over the next several years and SPCE has 20% of this market. SPCE has 100% of the market: $1152.17/share SPCE has 50% of the market: $576.09/share SPCE has 20% of the market: $230.42/share What's fascinating is even in the worst case scenario in this discussion we are looking at a 320.47% increase in price on hypersonic travel alone. That is very important to note. None of this includes the revenue generated elsewhere including the starting stream of space tourism. Let's look at Space Tourism, the predicted market cap is $3BN, which truthfully I find terribly undervalued. If we account for hypersonic travel, space tourism, NASA payloads, gov't contracts, etc then my PT by 2025 is a $500 minimum. Beyond 2030: Sci-Fi isn't really Sci-Fi anymore...it's just Sci: The possibilities of this company are about as boundless as space itself. Let's talk about some other future revenue streams that will be possible. Cargo transportation. If you thought 2-day delivery was imagine if cargo can be delivered anywhere on the planet in 90 minutes or less. Specifically time-sensitive cargo; something like a heart for a transplant or a vaccination that needs to arrive asap. We are long past the days of delivery via dog sled. Weather won't be a concern as these flights will take place ABOVE the weather. Military use - I mean the only difference between Virgin Galactic's space plane and something out of Star Wars is weaponry. I don't see why they wouldn't mount weapons and sell these space crafts to the Space Force. Think SpaceX is the main carrier and this space planes can launch from there. Interplanetary travel - Self landing rockets are all the hype, but what if a large carrier could orbit around a planet and send planes down for recon? They wouldn't need to use any fuel or anything to land so all their fuel could be used to relaunch back into space where they are grabbed by an arm on the carrier and pulled back in for refueling. The only thing that would be required is a place to land. Hypersonic travel - I already mentioned this but I need to emphasize how incredibly important this actually is. The airplane was invented in 1903 and for the past 118 years it has remained the fastest and most effective way for humans to travel. This industry is due for a revolution and I think this is it. I imagine when hypersonic first starts it will be akin to private jets regarding cost and public availability. But as the industry expands I think this will become the common way for humans to travel. Instead of airplanes and airports, it will be space planes and space ports. The list goes on and on and I don't want to speculate too far into the future of all the possibilities. One thing is certain, the Space Age is upon us: While there are many companies emerging in this market it is a HUGE market with near limitless potential. Virgin Galactic and SpaceX are leading the charge in these sectors. Companies like Momentus will be important to the industry as well, but the pioneers of this age are clear. Let's Talk Technology: VMS Eve is the name of the WhiteKnightTwo mothership which is a custom aircraft. It looks like two airplanes attached together. SpaceShipTwo is the space plane that attaches to the mothership. VMS Eve takes off like a normal airplane and ascends to 50,000 feet before releasing SpaceShipTwo. The boosters on SpaceShipTwo ignite and the space plane ascends 51.4 miles above the earths surface breaking into space (sub-orbit) where it conducts a slow backflip which creates microgravity (something NASA desperately wants to study). This is where the passengers become weightless in the cabin for 6 minutes. The cabin has more windows than any other space craft and contains 16 cameras which will record the entire event. Once the backflip is complete the space plane re-enters the Earth's atmosphere and glides to land like a normal airplane. Regarding hypersonic point-to-point travel; last year Virgin Galactic and Rolls Royce unveiled the Mach 3 design which is expected to be completed by 2025. The altitude will be 60,000 feet and have a capacity for 9-19 people. At first, I think this will dominate the private jet industry. On a large private jet: $51,600 to $78,000 (14 to 19 passengers) for a 6 hour cross-country trip. The designs for the Virgin Galactic/Rolls Royce Mach III craft make a trip around the GLOBE in 90 minutes and with the state-of-the-art sustainable aviation fuel, it is quite possible, if not probable that this is a more energy efficient and cost-effective method. In my opinion, the first industry that this will take over is the private jet industry and will slowly but surely make its way into the commercial airliner industry. Key Staff and Players: Founder - Sir Richard Branson: Founder of the Virgin Group (Virgin Mobile, Virgin Atlantic, etc.) CEO - Michael Colglazier: Former President and Managing Director of Disney Parks International CTO (Chief Space Officer) - George Whitesides: Former Chief of Staff NASA CFO - Jon Campagna: Former Corporate Controller of ICON Aircraft Inc. Noteworthy Investors: Vanguard Bank of America Morgan Stanley ARK Boeing Chamath Palihapitiya (Also a Virgin Galactic Chairman) Cathie Wood (presumably through ARKK) Partners: Boeing ( investor/hopes to be a part of the hypersonic point-to-point travel ) Rolls Royce ( designing and developing engine propulsion technology for high speed commercial aircraft as well as interior design ) NASA ( a plethora of tasks including transportation to the ISS, research, and hypersonic point-to-point travel ) Lockheed Martin ( developer of the Supersonic X-59 plane which will be used for testing hypersonic travel ) Under Armour (suits) Bear Case: What if it explodes? As I stated before the last test flight to me demonstrated that the fail safes in place will prevent this from happening and the chart reflects that notion. Aside from that, I hate to be that guy, but fatalities are expected with companies especially in emerging technologies. Remember when Tesla decapitated someone? Or the growing list of Airline incidents? Or how about when a Remington trigger malfunction killed hundreds? While I will not justify these events, I bring them to light to allow us to remember, this happens. I do not think this would be fatal for the company. Virgin Galactic had a fatality in 2014 and not a single person asked for a refund on their tickets. SpaceX: This one just bothers me. They are two completely different markets. Sub-orbital vs. orbital space. Even if they were in direct competition with one another, that's hardly a bad thing to be SpaceX's largest competitor. Competition is good for companies, it makes the market itself grow and the companies within the sector grow with it. When it comes to Space Tourism, SpaceX is a completely different type of tourism that costs millions and is a week long trip. The only real competition will be in the hypersonic market, however, Elon intends on using his hypersonic capabilities for Mars colonization although I think he would be silly to NOT also provide this service on Earth. It is a hype driven stock: This is the one I can agree with. We are pre-revenue, pre-publicity, and pre-commercial operations. The price right now is pure hype and speculation on what Virgin Galactic COULD become. Once we start seeing ER after commercial flights have started a more fundamental approach could be taken based on actual profit. I think this will remain hyped for a very long time as I mentioned early, most investors aren't here for space tourism. Space tourism is the PayPal, hypersonic flight is the Tesla. TL;DR: Space tourism is the start, hypersonic point-to-point travel is the golden nugget. This isn't some new technology, it's a revolution in human travel. Watch carefully this week. The test flight was delayed and that news was announced ATH on Friday. It is possible that we see a sell-off happen at market open. I don't know how long the sell-off will go or how big of an impact this will have. In the past delays and issues made the price plummet, however, there are new long term investors who might not even flinch at this news. This week is a buying opportunity. Disclaimer: I am not a financial advisor. I love the stock. 1750 shares at $17   submitted by   /u/hooman_or_whatever [link]   [comments]
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  39. CTXR DD (17/02/2021 - Reddit Stock Market)
    UPDATE: They announced a direct offering so people were panic selling. However, since those shares are going to institutions they won’t really be traded which essentially means that the float will remain the same. https://www.prnewswire.com/news-releases/citius-pharmaceuticals-announces-76-5-million-registered-direct-offering-priced-at-the-market-under-nasdaq-rules-301229588.html • This DD is based off of The Walrus Street’s video • Product in phase three testing that has been fast tracked by the FDA • Micro-cap with low float • Insider ownership 22% and institutional ownership 14% • Everything they have in their pipeline is innovative- have no real competition • Products: o Mino-Lok: Treat CVC infections o CITI-002 (Halo-Lido): RX Therapy for hemmorrhoids o CITI-101 (Mino-Wrap): Prevent infections associated with breast implants o CITI-401 (iMSC): Treat ARDS • For more information on each of the above product check out http://www.publicnow.com/view/43B1022273AFB5646547F0B380F486C1C4134DA8?1611348858 • Their primary product is Mino-Lok (their cash cow) • Mino-Lok study to be completed by April 2021 • Mino-Lok product is an antibiotic lock solution used to treat patients with catheter-related bloodstream infections (CRBSIs). CRBSIs are very serious, especially in cancer patients receiving therapy through central venous catheters (CVCs) and in hemodialysis patients where venous access presents a challenge. • Catheters can introduce bacteria in the blood stream which can cause serious infections that can be fatal in about 25% of cases. It is really hard to prevent these types of infections. • Right now, the standard of care for an infected catheter is to remove and replace but when you do this procedure there is risk of additional infection or triggering a blood clot which can lead to a stroke etc. So essentially, when you are doing the remove and replace procedure you are increasing the risk of mortality and morbidity for the patient. • If you would like to know about the central line associated bloodstream infection (CLASBI) here is a roundtable discussion between different MD’s about the magnitude of the CLABSI problem and the challenges associated with the treatment of CLABSI- https://www.citiuspharma.com/wp-content/uploads/2018/11/Treatment-Considerations-For-Catheter-Related-Bacteremias.pdf • According to the roundtable discussion “In spite of best clinical practice, catheters contribute to approximately 70% of blood stream infections that occur in the ICU, or are associated with hemodialysis or cancer patients (approximately 470,000 per year)” • According to Maki et al., published in the Mayo Clinic Proceedings in 2006, there are approximately 250,000 CRBSIs annually in the US.2 Subsequent to that study, estimates have ranged upwards to over 450,000 CLABSIs annually. CRBSIs are associated with a 12% to 25% mortality rate and an attributable cost of $46,000 to $65,000 per episode. The removal of an infected CVC and replacement of a new catheter in a different venous access site is estimated to cost between $8,000 and $10,000 • Right now the standard of care of removal and replace is very expensive with a cost between $8000-10,000 along with the huge medical risk that is associated with it • As per https://www.sec.gov/Archives/edgar/data/1506251/000121390020004698/f8k022520ex99-1_citiuspharma.htm : o According to DelveInsight, the market size of CRBSIs in the global market is expected to reach $1.84 billion in 2028, up from $1.24 billion in 2017 o Total Incidence of Catheter Related Bloodstream Infection (CRBSI) in the Global Market is estimated to be 4 million patients o Assuming continued clinical success in Phase 3 trial and regulatory approval is achieved, Mino-Lok solution would address a major need in treating CRBSI patients. • Catheter-related bloodstream infections (CRBSIs) are frequently observed in the intensive care unit (ICU) and are a serious cause of morbidity and mortality in the United States. This article summarizes what is currently known about the cost of CRBSIs in the ICU setting. The cost of CRBSIs is between $33,000 and $44,000 in the general adult ICU, between $54,000 and $75,000 in the adult surgical ICU, and approximately $49,000 in the pediatric ICU. Finally, CRBSIs are associated with reimbursement that is more than $26,000 less than costs. Hospital and clinical decision makers should be aware of the high cost of CRBSIs in the ICU, the relatively poor reimbursement, and the implied high value of prevention efforts. (https://pubmed.ncbi.nlm.nih.gov/21915004/) • Mino-Lok has a price tag of about $1,400 which would cause hospitals to save about 30 times the cost by cleaning out the catheter with Mino-Lok • Highlights of Mino-Lok: o Address medical conditions that have unmet medical needs with cost-effective products. o Partnership with a leading cancer center and support from medical thought leaders. o In a Phase 2b trial, the Mino-Lok product demonstrated a 100% efficacy rate in salvaging colonized CVCs; the Mino-Lok product had no significant adverse events compared to an 18% serious adverse event rate when infected CVCs were removed and replaced. o FDA Fast Track with QIDP designation and patent protection until June 2024. Formulation patent protection until November 2036. o Currently in a Phase 3 pivotal superiority trial. • The Mino-Lok product is used in two-hour locking cycles, allowing the CVC to be used for its intended purposes for the remaining 22 hours each day. • Citius Pharmaceuticals obtained a worldwide license to the patented technology (with the exception of South America) in May 2014. In March 2016, Citius announced that it has a worldwide license for Mino-Lok. • Receiving QIDP designation means that the Mino-Lok product is eligible for additional FDA incentives in the approval and marketing pathway, including Fast Track designation and Priority Review for development and a five-year extension of market exclusivity. • Market Exclusivity: NDAs for QIDPs are granted an additional five years of market exclusivity under Hatch-Waxman for a combined total of 10 years regardless of patent protection.   submitted by   /u/pxs2020 [link]   [comments]
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  40. Here is a Market Recap for today Monday, April 26, 2021 (26/04/2021 - Reddit Stocks)
    PsychoMarket Recap - Monday, April 26, 2021 The stock traded mixed on Monday, with the S&P 500 (SPY) and Nasdaq (QQQ) continuing strong momentum from last week while the Dow Jones (DIA) modestly fell. Looking ahead, market participants are preparing for a slew of corporate earnings, new economic data, and the Federal Open Market Committee’s April meeting. This week, a slew of huge companies are set to report corporate earnings for the first quarter of 2021. Altogether, the market caps of the companies reporting this week comprise nearly half the total market cap of the S&P 500, according to FactSet. So far, the vast majority of companies have vastly exceeded analyst estimates, with effective vaccine distribution in the US helping stoke demand as the economy gradually reopens. Eighty-four percent of the S&P 500 companies that have reported first-quarter results to date posted a positive earnings per share surprise, according to data from FactSet. This would mark the highest percentage of companies reporting upside surprises since FactSet began tracking this metric in 2008, assuming this beat rate holds through the end of earnings season. Last week on Thursday, stocks sold off sharply following reports President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new 39.6% rate would almost double the tax rate from the current base rate of 20%. However, the sharp bounce back we have seen suggests the initial sell-off was overdone. Kathy Jones, chief fixed income strategist at Charles Schwab said, “I think the immediate reaction was probably a bit overdone. These proposals come out and you never know, especially with tax proposals, where we'll end up. So it looks like an opening bid. I'm sure there will be intense lobbying from the investment community to adjust those numbers. But I think at the moment, when you have very high valuations in the market, anything that is bad news can spark a bit of a sell-off." The Federal Open Market Committee (FOMC) will meet for its April meeting on Tuesday and Wednesday, with a monetary policy decision and press conference from Federal Reserve Chair Jerome Powell slated for Wednesday afternoon. With the Fed having already signaled that benchmark interest rates would remain on hold through at least 2023, market participants are expecting virtually no major changes to policy to be announced. Highlights Tesla (TSLA) beat analyst expectations in their earnings report. The stock is modestly down at the time of writing Revenue of $10.39 billion vs $10.29 billion expected (up from $6 billion a year earlier) EPS of $0.93 vs $0.79 expected The vaccinations effort continues with over 200 million Americans receiving at least one shot and 90 million adults fully vaccinated, according to data compiled by the CDC. The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. "These autos are coming. We know it. It is the future," White House climate adviser Gina McCarthy said of EVs at an event in Washington promoting administration efforts to boost EV charging. In the wake of the fatal crash of a Tesla car in Texas on Saturday, two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla vehicles. **Please note that current stock price was written in the morning and does not reflect intraday changes*\* Apple (AAPL) target raised by Morgan Stanley from $157 to $158 at Overweight. Stock currently around $134 Allstate (ALL) target raised by Raymond James from $135 to $140 at Strong-Buy Ally Financial (ALLY) target raised by Morgan Stanley (MS) from $56 to $59 at Overweight. Stock currently around $49 Ametek (AME) target raised by Wells Fargo from $140 to $160 at Overweight. Stock currently around $135 Activision Blizzard (ATVI) target raised by Benchmark from $118 to $120 at Buy. Stock currently around $93 American Express (AXP) target raised by Oppenheimer from $128 to $165 at Outperform. Stock currently around $144 Burlington Stores (BURL) target raised by JP Morgan (JPM) from $315 to $380 at Overweight. Stock currently around $328 Chipotle (CMG) target raised by Stifel Nicolaus from $1550 to $1750 at Buy. Stock currently around $1468 Walt Disney (DIS) target raised by Wells Fargo (WFC) from $201 to $219 at Overweight. Stock currently around $183 Expedia (EXPE) target raised by Truist Securities from $170 to $237 at Buy. Stock currently around $177 Facebook (FB) target raised by Credit Suisse from $330 to $371 at Outperform. Stock currently around $301 FirstEnergy (FE) target raised by Morgan Stanley (MS) from $40 to $44 at Overweight. Stock currently around $37 Fortinet (FTNT) target raised by BTIG Research from $205 to $240 at Buy. Stock currently around $201 Alphabet (GOOG, $GOOGL) with three target raises. Stock currently around $2300 Cannaccord Genuity from $2400 to $2600 at Buy KeyCorp from $2353 to $2625 at Overweight Mizuho from $2350 to $2600 at Buy IQVIA (IQV) target raised by Barclays from $235 to $260 at Overweight. Stock currently around $232 The Lovesac (LOVE) target raised by Oppenheimer from $60 to $85 at Outperform. Stock currently around $70 Lam Research (LRCX) target raised by Citigroup from $660 to $750 at Buy. Stock currently around $627 Mastercard (MA) target raised by Morgan Stanley (MS) from $412 to $418 at Overweight. Stock currently around $387 Morgan Stanley (MS) target raised by Piper Sanlder from $82 to $87 at Neutral. Stock currently around $81 Quanta Services (PWR) target raised by KeyCorp from $90 to $115 at Overweight. Stock currently around $98 Paypal (PYPL) target raised by Rosenblatt Securities froim $320 to $350 at Buy. Stock currently around $266 Starbucks (SBUX) target raised by Oppenheimer from $122 to $135 at Outperform. Stock currently around $118 Square (SQ) target raised by Barclays from $330 to $340 at Overweight. Stock currently around $246 Tesla (TSLA) target raised by Mizuho from $775 to $820 at Buy. Stock currently around $730 Twitter (TWTR) target raised by Oppenheimer from $70 to $85 at Outperform. Stock currently around “Someone's sitting in the shade today because someone planted a tree a long time ago.”- Warren Buffet   submitted by   /u/psychotrader00 [link]   [comments]
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  41. Here is a Market Recap for today Monday, April 26, 2021 (26/04/2021 - Reddit Stock Market)
    PsychoMarket Recap - Monday, April 26, 2021 The stock traded mixed on Monday, with the S&P 500 (SPY) and Nasdaq (QQQ) continuing strong momentum from last week while the Dow Jones (DIA) modestly fell. Looking ahead, market participants are preparing for a slew of corporate earnings, new economic data, and the Federal Open Market Committee’s April meeting. This week, a slew of huge companies are set to report corporate earnings for the first quarter of 2021. Altogether, the market caps of the companies reporting this week comprise nearly half the total market cap of the S&P 500, according to FactSet. So far, the vast majority of companies have vastly exceeded analyst estimates, with effective vaccine distribution in the US helping stoke demand as the economy gradually reopens. Eighty-four percent of the S&P 500 companies that have reported first-quarter results to date posted a positive earnings per share surprise, according to data from FactSet. This would mark the highest percentage of companies reporting upside surprises since FactSet began tracking this metric in 2008, assuming this beat rate holds through the end of earnings season. Last week on Thursday, stocks sold off sharply following reports President Biden will propose almost doubling the capital gains tax rate for wealthy individuals earning $1 million or more per year to 39.6% to help pay for a slew of social programs and the proposed infrastructure bill. The new 39.6% rate would almost double the tax rate from the current base rate of 20%. However, the sharp bounce back we have seen suggests the initial sell-off was overdone. Kathy Jones, chief fixed income strategist at Charles Schwab said, “I think the immediate reaction was probably a bit overdone. These proposals come out and you never know, especially with tax proposals, where we'll end up. So it looks like an opening bid. I'm sure there will be intense lobbying from the investment community to adjust those numbers. But I think at the moment, when you have very high valuations in the market, anything that is bad news can spark a bit of a sell-off." The Federal Open Market Committee (FOMC) will meet for its April meeting on Tuesday and Wednesday, with a monetary policy decision and press conference from Federal Reserve Chair Jerome Powell slated for Wednesday afternoon. With the Fed having already signaled that benchmark interest rates would remain on hold through at least 2023, market participants are expecting virtually no major changes to policy to be announced. Highlights Tesla (TSLA) beat analyst expectations in their earnings report. The stock is modestly down at the time of writing Revenue of $10.39 billion vs $10.29 billion expected (up from $6 billion a year earlier) EPS of $0.93 vs $0.79 expected MicroVision (MVIS) stock is up roughly 150% in the last week alone. The stock seems to have picked up a lot of momentum from the WallStreetBets crowd The vaccinations effort continues with over 200 million Americans receiving at least one shot and 90 million adults fully vaccinated, according to data compiled by the CDC. The Biden administration wants to spend $174 billion to boost electric vehicles and charging stations but its 2030 climate emissions reduction pledge released on Thursday does not include a firm date to phase out gasoline-powered vehicles. "These autos are coming. We know it. It is the future," White House climate adviser Gina McCarthy said of EVs at an event in Washington promoting administration efforts to boost EV charging. In the wake of the fatal crash of a Tesla car in Texas on Saturday, two U.S. senators have expressed concern about what they said may be an emerging pattern of safety concerns involving Tesla vehicles. **Please note that current stock price was written in the morning and does not reflect intraday changes*\* Apple (AAPL) target raised by Morgan Stanley from $157 to $158 at Overweight. Stock currently around $134 AECOM (ACM) target raised by KeyCorp from $60 to $78 at Overweight. Stock currently around $67 Allstate (ALL) target raised by Raymond James from $135 to $140 at Strong-Buy Ally Financial (ALLY) target raised by Morgan Stanley (MS) from $56 to $59 at Overweight. Stock currently around $49 Ametek (AME) target raised by Wells Fargo from $140 to $160 at Overweight. Stock currently around $135 Activision Blizzard (ATVI) target raised by Benchmark from $118 to $120 at Buy. Stock currently around $93 American Express (AXP) target raised by Oppenheimer from $128 to $165 at Outperform. Stock currently around $144 Burlington Stores (BURL) target raised by JP Morgan (JPM) from $315 to $380 at Overweight. Stock currently around $328 Chipotle (CMG) target raised by Stifel Nicolaus from $1550 to $1750 at Buy. Stock currently around $1468 Walt Disney (DIS) target raised by Wells Fargo (WFC) from $201 to $219 at Overweight. Stock currently around $183 Expedia (EXPE) target raised by Truist Securities from $170 to $237 at Buy. Stock currently around $177 Facebook (FB) target raised by Credit Suisse from $330 to $371 at Outperform. Stock currently around $301 FirstEnergy (FE) target raised by Morgan Stanley (MS) from $40 to $44 at Overweight. Stock currently around $37 Fortinet (FTNT) target raised by BTIG Research from $205 to $240 at Buy. Stock currently around $201 Alphabet (GOOG, $GOOGL) with three target raises. Stock currently around $2300 Cannaccord Genuity from $2400 to $2600 at Buy KeyCorp from $2353 to $2625 at Overweight Mizuho from $2350 to $2600 at Buy IQVIA (IQV) target raised by Barclays from $235 to $260 at Overweight. Stock currently around $232 The Lovesac (LOVE) target raised by Oppenheimer from $60 to $85 at Outperform. Stock currently around $70 Lam Research (LRCX) target raised by Citigroup from $660 to $750 at Buy. Stock currently around $627 Mastercard (MA) target raised by Morgan Stanley (MS) from $412 to $418 at Overweight. Stock currently around $387 Morgan Stanley (MS) target raised by Piper Sanlder from $82 to $87 at Neutral. Stock currently around $81 Quanta Services (PWR) target raised by KeyCorp from $90 to $115 at Overweight. Stock currently around $98 Paypal (PYPL) target raised by Rosenblatt Securities froim $320 to $350 at Buy. Stock currently around $266 Starbucks (SBUX) target raised by Oppenheimer from $122 to $135 at Outperform. Stock currently around $118 Square (SQ) target raised by Barclays from $330 to $340 at Overweight. Stock currently around $246 Tesla (TSLA) target raised by Mizuho from $775 to $820 at Buy. Stock currently around $730 Twitter (TWTR) target raised by Oppenheimer from $70 to $85 at Outperform. Stock currently around “Someone's sitting in the shade today because someone planted a tree a long time ago.”- Warren Buffet   submitted by   /u/psychotrader00 [link]   [comments]
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  42. Here is a Market Recap for today Tuesday, July 27, 2021 (27/07/2021 - Reddit Stock Market)
    PsychoMarket Recap - Tuesday, July 27, 2021 Stocks declined following a record-setting session yesterday as concerns over the coronavirus delta came to a head, with the Center for Disease Control and Prevention (CDC) reversing their indoor mask policy, recommending that fully vaccinated people begin wearing masks indoors again in areas with high coronavirus transmission and in K-12 schools. Dr. Rochelle Walensky, Director of the CDC said, “In areas with substantial and high transmission, CDC recommends fully vaccinated people wear masks in public, indoor settings to help prevent the spread of the delta variant, and protect others. This includes schools”. As I have said before and will explain further below, while the surge in cases is unfortunate, it is important to note that the surge is largely concentrated in areas with high vaccine hesitancy. In my humble opinion, as it usually does, the market is overreacting to the news, personally I remain bullish moving forward, though one always has to acknowledge the risks present in the market. In other news, Chinese stocks kept plummeting as the regulatory crackdown by the Chinese Communist Party (CCP) intensified. For context, Alibaba (BABA) is down 10% this week, roughly 50% from its previous all-time high and is trading at roughly the same price as in March 2020. In the US, eyes are on earnings, with mega-caps Microsoft (MSFT), Alphabet (GOOGL, GOOG), and Apple (AAPL) all reporting. Chip-maker AMD is also reporting. Combined, these companies have a market cap greater than $6.5 trillion. In the US, despite roughly 50% of the population being vaccinated, in the past two weeks, infections across the country have roughly doubled, with new cases jumping from 13,200 on July 4 to 51,939 on July 25, according to data compiled by John Hopkins University. However, it is important to understand that the rising infections are broadly concentrated in areas with higher vaccine hesitancy. According to data from the CDC, 97% of people who have died or been hospitalized with COVID-19 since the vaccine became widely available are unvaccinated. Dr Rochelle Walensky, Director of CDC said of the rising cases, “There is a clear message that is coming through. This is becoming a pandemic of the unvaccinated. Our biggest concern is we are going to continue to see preventable cases, hospitalizations, and sadly deaths among the unvaccinated.” Sadly, despite the widespread availability of the vaccine in the US, hesitancy in certain places remains very high. David Kostin, US Equity Strategist at Goldman Sachs said, “We [Goldman Sachs] think the Delta variant should pose a minimal risk to the US equity market. From an economic perspective, widespread vaccinations and strategies focused on containment suggest limited medical and economic downside even if infections continue to rise. From a flows perspective, robust household cash balances and corporate buyback authorizations should continue to support inflows for equities, increasing the likelihood that market participants perceive a pullback as a buying opportunity”. I agree, given the transmission is largely concentrated in certain areas, I do not expect the re-introduction of lockdown measures that could hamper the current pace of recovery. Of course, that's just my opinion. Now onto earnings, Microsoft beat earnings estimates but it seems market participants were hoping for a larger beat of the estimates, with the stock falling 3% after-hours. Here are the numbers. Revenue: $46.15 billion versus $44.25 billion expected Earnings per share: $2.17 versus $1.92 expected Productivity and Business Processes: $14.69 billion versus $13.9 billion expected Intelligent Cloud: $17.38 billion versus $16.4 billion expected More Personal Computing: $14.09 billion versus $13.8 billion expected Importantly, Microsoft saw revenues from Azure, its cloud computing platform, rise 51% year-on-year. In total, revenues were up 21% compared to the same quarter last year, great growth for the second largest publicly traded company. Alphabet (GOOG, GOOGL) smashed earnings estimates and the stock jumped roughly 2.5% before cooling down somewhat. Here are the numbers Earnings per share (EPS): $27.26 vs $19.34 per share Revenue: $61.88 billion vs $56.16 billion YouTube advertising revenue: $7.00 billion vs $6.37 billion expected Google Cloud revenue: $4.63 billion vs $4.40 billion expected, Traffic acquisition costs (TAC): $10.93 billion vs $9.74 billion expected Importantly, Alphabet saw Google ad revenue ballooned to $50.44 billion, a roughly 69% increase year-on-year. Just to put into context how massive Alphabet is, revenue from Youtube was $7 billion, an 83% increase year-on-year and roughly the entire revenue of Netflix ($7.34 billion). Apple (AAPL), the largest company in the world, absolutely demolished earnings with some of the most impressive earnings beats I’ve seen. The stock reaction is largely muted. Here are the numbers EPS: $1.30 vs. $1.01 estimated Revenue: $81.41 billion vs. $73.30 billion estimated, up 36% year-over-year iPhone revenue: $39.57 billion vs. $34.01 billion estimated, up 49.78% year-over-year Services revenue: $17.48 billion vs. $16.33 billion estimated, up 33% year-over-year Other Products revenue: $8.76 billion vs. $7.80 billion estimated, up 40% year-over-year Mac revenue:$8.24 billion vs. $8.07 billion estimated, up 16% year-over-year iPad revenue: $7.37 billion vs. $7.15 billion estimated, up 12% year-over-year Gross margin: 43.3% vs. 41.9% estimated Apple also had a strong quarter in its Greater China region, which includes Taiwan and Hong Kong in addition to the mainland. Apple reported $14.76 billion in sales in the region, up 58% year-on-year/. Sales in America were up nearly 33% year-over-year to $39.57 billion. In other news, later this week, investors will hear from Federal Reserve officials over the path forward for monetary policy, which will likely be informed by the increased concerns over the Delta variant and peaking economic growth rates. Analysts are predicting that the downside risks still present in the economy will continue to overshadow potential worries over inflation, which means members of the Fed are very unlikely to make any changes in the upcoming meeting. What I am most interested in from these meetings is hearing about a potential timeline to begin tapering quantitative easing (QE). I expect the Fed will make some kind of announcement regarding this before the year ends. The real test for equities is coming in 2023, when the interest rate is expected to begin rising. "Success is not final; failure is not fatal: It is the courage to continue that counts." - Winston Churchill   submitted by   /u/psychotrader00 [link]   [comments]
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  43. Here is a Market Recap for today Tuesday, July 27, 2021 (27/07/2021 - Reddit Stocks)
    PsychoMarket Recap - Tuesday, July 27, 2021 Stocks declined following a record-setting session yesterday as concerns over the coronavirus delta came to a head, with the Center for Disease Control and Prevention (CDC) reversing their indoor mask policy, recommending that fully vaccinated people begin wearing masks indoors again in areas with high coronavirus transmission and in K-12 schools. Dr. Rochelle Walensky, Director of the CDC said, “In areas with substantial and high transmission, CDC recommends fully vaccinated people wear masks in public, indoor settings to help prevent the spread of the delta variant, and protect others. This includes schools”. As I have said before and will explain further below, while the surge in cases is unfortunate, it is important to note that the surge is largely concentrated in areas with high vaccine hesitancy. In my humble opinion, as it usually does, the market is overreacting to the news, personally I remain bullish moving forward, though one always has to acknowledge the risks present in the market. In other news, Chinese stocks kept plummeting as the regulatory crackdown by the Chinese Communist Party (CCP) intensified. For context, Alibaba (BABA) is down 10% this week, roughly 50% from its previous all-time high and is trading at roughly the same price as in March 2020. In the US, eyes are on earnings, with mega-caps Microsoft (MSFT), Alphabet (GOOGL, GOOG), and Apple (AAPL) all reporting. Chip-maker AMD is also reporting. Combined, these companies have a market cap greater than $6.5 trillion. In the US, despite roughly 50% of the population being vaccinated, in the past two weeks, infections across the country have roughly doubled, with new cases jumping from 13,200 on July 4 to 51,939 on July 25, according to data compiled by John Hopkins University. However, it is important to understand that the rising infections are broadly concentrated in areas with higher vaccine hesitancy. According to data from the CDC, 97% of people who have died or been hospitalized with COVID-19 since the vaccine became widely available are unvaccinated. Dr Rochelle Walensky, Director of CDC said of the rising cases, “There is a clear message that is coming through. This is becoming a pandemic of the unvaccinated. Our biggest concern is we are going to continue to see preventable cases, hospitalizations, and sadly deaths among the unvaccinated.” Sadly, despite the widespread availability of the vaccine in the US, hesitancy in certain places remains very high. David Kostin, US Equity Strategist at Goldman Sachs said, “We [Goldman Sachs] think the Delta variant should pose a minimal risk to the US equity market. From an economic perspective, widespread vaccinations and strategies focused on containment suggest limited medical and economic downside even if infections continue to rise. From a flows perspective, robust household cash balances and corporate buyback authorizations should continue to support inflows for equities, increasing the likelihood that market participants perceive a pullback as a buying opportunity”. I agree, given the transmission is largely concentrated in certain areas, I do not expect the re-introduction of lockdown measures that could hamper the current pace of recovery. Of course, that's just my opinion. Now onto earnings, Microsoft beat earnings estimates but it seems market participants were hoping for a larger beat of the estimates, with the stock falling 3% after-hours. Here are the numbers. Revenue: $46.15 billion versus $44.25 billion expected Earnings per share: $2.17 versus $1.92 expected Productivity and Business Processes: $14.69 billion versus $13.9 billion expected Intelligent Cloud: $17.38 billion versus $16.4 billion expected More Personal Computing: $14.09 billion versus $13.8 billion expected Importantly, Microsoft saw revenues from Azure, its cloud computing platform, rise 51% year-on-year. In total, revenues were up 21% compared to the same quarter last year, great growth for the second largest publicly traded company. Alphabet (GOOG, GOOGL) smashed earnings estimates and the stock jumped roughly 2.5% before cooling down somewhat. Here are the numbers Earnings per share (EPS): $27.26 vs $19.34 per share Revenue: $61.88 billion vs $56.16 billion YouTube advertising revenue: $7.00 billion vs $6.37 billion expected Google Cloud revenue: $4.63 billion vs $4.40 billion expected, Traffic acquisition costs (TAC): $10.93 billion vs $9.74 billion expected Importantly, Alphabet saw Google ad revenue ballooned to $50.44 billion, a roughly 69% increase year-on-year. Just to put into context how massive Alphabet is, revenue from Youtube was $7 billion, an 83% increase year-on-year and roughly the entire revenue of Netflix ($7.34 billion). Apple (AAPL), the largest company in the world, absolutely demolished earnings with some of the most impressive earnings beats I’ve seen. The stock reaction is largely muted. Here are the numbers EPS: $1.30 vs. $1.01 estimated Revenue: $81.41 billion vs. $73.30 billion estimated, up 36% year-over-year iPhone revenue: $39.57 billion vs. $34.01 billion estimated, up 49.78% year-over-year Services revenue: $17.48 billion vs. $16.33 billion estimated, up 33% year-over-year Other Products revenue: $8.76 billion vs. $7.80 billion estimated, up 40% year-over-year Mac revenue:$8.24 billion vs. $8.07 billion estimated, up 16% year-over-year iPad revenue: $7.37 billion vs. $7.15 billion estimated, up 12% year-over-year Gross margin: 43.3% vs. 41.9% estimated Apple also had a strong quarter in its Greater China region, which includes Taiwan and Hong Kong in addition to the mainland. Apple reported $14.76 billion in sales in the region, up 58% year-on-year/. Sales in America were up nearly 33% year-over-year to $39.57 billion. In other news, later this week, investors will hear from Federal Reserve officials over the path forward for monetary policy, which will likely be informed by the increased concerns over the Delta variant and peaking economic growth rates. Analysts are predicting that the downside risks still present in the economy will continue to overshadow potential worries over inflation, which means members of the Fed are very unlikely to make any changes in the upcoming meeting. What I am most interested in from these meetings is hearing about a potential timeline to begin tapering quantitative easing (QE). I expect the Fed will make some kind of announcement regarding this before the year ends. The real test for equities is coming in 2023, when the interest rate is expected to begin rising. "Success is not final; failure is not fatal: It is the courage to continue that counts." - Winston Churchill   submitted by   /u/psychotrader00 [link]   [comments]
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  44. Insurance with Technology: How Far Can On-Demand Insurance Go When Supported by Big Data? (12/07/2021 - Reddit Stock Market)
    Frequently changed insurance products are not welcomed by customers, because customers tend to like simple, reliable, and easily recognizable products. Usually people buy insurance, forget about it, and only remember it when they need it. However, recently, thanks to the development of big data, mobile computing, and a younger generation of insurance consumers, a new concept called "on-demand insurance" has slowly emerged in insurance industry. For insurance professionals, the emergence of on-demand insurance allows them to combine customer information and provide customers with more suitable products. Consumers can also get more desirable products. What is on-demand insurance? Traditional insurance products are often aimed at protecting a certain target within a period of time. For example, health insurance is to protect people's health, and the period is the agreed period of the insurance policy. The scope of tenant insurance coverage covers all property in the apartment of the insured during the agreed period. On-demand insurance is different. Compared with traditional insurance products, on-demand insurance is more flexible, and sales scenarios are often concentrated on the Internet. It’s major differences with traditional insurance are as follows: Flexible rate adjustment: with the continuous development of communications and market analysis, this type of insurance product allows customers to purchase insurance policies on demand and often could adjust the rate in a very short period of time. Flexible insured objects: this is a more accurate and efficient way of insuring. On-demand insurance may only cover the laptop used by the holder at work, and not their other items. In other words, a certain employee who needs to travel today can only insure certain valuables that he carries with him, so that while improving efficiency, it can also reduce insurance premiums to a certain extent. Data support hierarchical insurance: as a result of big data analysis, on-demand insurance can charge Uber drivers at different rates, which are supported by data analysis of their driving hours of Uber, driving hours for personal use, and car’s non-use hours on the driveway. Starting in January 2020, on-demand insurance has become popular in the market, and currently only a few large insurance companies have begun to use it. If this market is as rich as investors expect, traditional insurance companies will soon be involved. Real case of an auto insurance: Traditional auto insurance: a traditional insurance policy includes a fixed term agreement (for example, 6 months), and an insurance rate is set for this period of coverage. This rate is based on the driver’s health indicators, such as age, driving history, credit rating, and vehicle usage. The insurance rate is fixed, and the insurance coverage remains unchanged until the end of the coverage period. On-demand auto insurance: unlike traditional auto insurance, on-demand auto insurance is a variable agreement. In most cases, the premiums for on-demand auto insurance are reformulated and collected on a monthly basis, which means that premiums may change every month. If the insured person drove the car for 20 hours in the first month and only drove for 5 hours in the second month, his insurance premium would be lower in the second month. Policyholders can also increase or decrease their insurance coverage through the app. For example, they can add one month of roadside assistance when planning a self-driving trip. The concept of on-demand insurance is essentially to help customers and insurance companies customize the details of insurance products more accurately and improve social efficiency. Pros & Cons On-demand insurance provides customers and insurance agents with a series of benefits, such as more flexible insurance methods and more user-friendly insurance solutions. Although many customers still prefer the traditional insurance model, the younger generation who are keen on new things and the Internet have shown great interest in this flexible product. More choices, more flexible For users, on-demand insurance model gives them more choices. They can purchase the insurance they need without having to pay for the insurance they don’t need. Meanwhile, the flexible Internet insurance method allows users to adjust or reduce their insurance coverage according to their real needs anytime, anywhere, and the rate will change accordingly. Low-income earners can reduce their insurance premiums by purchasing only the products necessary for them When more and more insurance companies step into the on-demand insurance market, doubtlessly they will devote more energy and resources to this type of insurance, because it requires them to always make strategic decisions based on big data. And consumers can get more attention from insurance companies. Internet technology also helps speed up insurance claims process and improve the quality of claims. Convenience in data acquisition make claims settlement faster For insurance companies, relying on big data, they can obtain the real needs of the market through real-time data analysis, and can provide more insurance solutions in a shorter time. In addition, the promotion of APP, on the one hand, automates communication, and on the other hand, it also lowers the insurance threshold for users. Users can purchase insurance through more ports, which help insurance companies to obtain more user data. On-demand insurance simplifies distributed work, allows users to customize products through the Internet portal, and reduces the cost in promotion. In terms of claims settlement, real-time monitoring makes it easier to investigate claims. Although on-demand insurance is an exciting innovation, we still cannot ignore its shortcomings. Worrisome privacy protection In the on-demand insurance product model, insurance companies need to track customer information to make customized products and prices for customers. In other words, insurance companies can obtain unprecedented amounts of user data through this model, and customers' privacy issues cannot be avoided. Data interpretation needs to be improved Whether customer data can be interpreted correctly is also a problem. For example, in the on-demand car insurance product setting, the insurance company will determine whether the driver can drive safely based on the number of times the driver has braked suddenly. But sometimes, if the emergency brake is used to avoid an accident with an irresponsible driver, it is unavoidable for the driver. At this time, if the insurance company confuses this type of emergency braking with emergency braking due to poor driving habits, the data will be incorrectly interpreted. Compared with traditional insurance products, the on-demand insurance model is more flexible, which means that users need to pay more attention to their own insurance products. It may cause problems for those who are seeking convenience. In addition, because the policy payment changes monthly, if the premium of the next month rises due to some bad habits of the insured, it may be a poor experience to the user. Reduction of agents might cause lack of key information In the on-demand insurance model, as a large number of insured ports will be concentrated on the Internet, the number of agents will drop sharply. The lack of agents often leads to less information that insurance companies obtain through agent channels. In insurance companies, this type of information is often one of the key information for making decisions. Second, because this type of insurance products rely heavily on data analysis capabilities, it places high demands on the data analysis department of insurance companies. Once there is a problem in data interpretation, it will be fatal to the entire product customization, sales, claims and other key links. On-demand insurance applications In recent years, the application of on-demand insurance has become more and more widespread. For example, employers will make adjustments to most workers’ compensation policies based on their safety records. At the consumer level, mainstream traditional insurance companies have been providing consumers with driving monitoring services on a regular basis and adjusted their rates accordingly to meet the needs of consumers who drive safely to lower their insurance rates. But overall, the on-demand insurance business is still in its infancy, and its current share of the global insurance market is less than 1%. From the perspective of the composition of companies carrying out this business, it is still concentrated in start-up companies and other innovative insurance companies. According to data, the financing scale of on-demand insurance startups exceeded US$50 billion last year. Mitchell International once launched a survey on post00s about on-demand insurance, and more than 90% of them said they would be interested in such products. Therefore, we expect that this model will continue to exist with a high probability and achieve sustained growth in market share in the next few years. TROV is the world's first platform to offer property insurance on demand. Before transforming into an insurance company, TROV was actually a personal property management application that allowed users to observe and track various properties. It is with the support of big data for observing and tracking various properties of users that TROV has transformed to the development of on-demand insurance. For items stored in the TROV App, users can insure them anytime and anywhere. Users can swipe right on the item in the APP to insure it, and swipe left to end the insurance. Items that can be insured on TROV include mobile phones, laptops, household appliances, headphones and speakers, sports equipment, musical instruments, cameras, and game consoles. Another key feature of TROV is that premiums can be calculated and settled in real time, and the insurance time can be accurate to the second. After the insurance is activated, users can also adjust important insurance parameters, such as deductibles, and then adjust the premium. For digital camera products, users can insure it when they need to travel, and stop the insurance at the end of the travel. Compared with traditional insurance that takes one year at a time, TROV's insurance cycle can be extremely short, so the premium is relatively low. In terms of risk control and claims, when users add property in TROV, they need to upload physical images, receipts, etc.; in claim settlement, the platform talks with users through an expert system-based chatbot, which will collect dates, locations, claim descriptions, claims pictures, and other information as evidence. Online files of users are established to reduce insurance fraud. By analyzing TROV’s business model, we found that it first started with personal property management, and acquired users through relatively high-frequency services such as automatic valuation and classification of property, and establishment of personal property catalog. In addition, users who use property management services have obvious characteristics: they have certain assets, and at the same time they are more concerned about property loss. Such user groups have relatively high demand for on-demand insurance. After accumulating the previous personal property data, TROV has truly realized on-demand insurance by introducing insurance technology, allowing users to manage their property more flexibly and conveniently. InsurView’s conclusions Judging from the current insurance industry, traditional insurance products are still the mainstream, because most users still prefer traditional insurance. But society often achieves continuous progress in the course of change. It cannot be denied that compared with traditional insurance, on-demand insurance is more humane and more flexible, which can bring users a better insurance experience. In future, with the development of big data and 5G technology, we believe that on-demand insurance is only one of insurance + technology applications, and more forms of products are bound to emerge, giving the insurance industry a new lease of life.   submitted by   /u/InsurViewChina [link]   [comments]
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  45. (3/29) Monday's Pre-Market Stock Movers & News (29/03/2021 - Reddit Stocks)
    Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week! Here are your pre-market stock movers & news on this Monday, March 29th, 2021- 5 things to know before the stock market opens Monday 1. U.S. futures drop after Friday’s records for Dow, S&P 500 U.S. stock futures dropped Monday after a late-session rally Friday sent the Dow Jones Industrial Average and S&P 500 up over 1.4% and nearly 1.7%, respectively, as stocks benefiting from a successful Covid reopening outperformed, again. The Dow and S&P 500, which both closed at record highs, saw weekly gains about equal to Friday’s advances. Dow stock Boeing rose 3% in Monday’s premarket after a huge aircraft order from Southwest Airlines. Southwest shares were up modestly. The Nasdaq on Friday erased an almost 1% loss and closed up 1.2%. However, the tech-heavy index still declined about 0.6% for the week, with just three days left in March. The Nasdaq was tracking for a slight monthly loss, while the Dow and S&P 500 were poised to turn in solid gains for the month. The 10-year Treasury yield was steady Monday, trading below its recent 14-month high. The rapid rise in yields this year has been troublesome for growth stocks, many of them tech names, as higher interest rates erode the value of future profits and squeeze market valuations. 2. Credit Suisse, Nomura take hit from U.S. hedge fund fallout Credit Suisse warned Monday of a “highly significant” hit to its first-quarter results, after the Swiss-based bank began exiting positions with a large U.S. hedge fund that melted down on margin calls last week. Japanese firm Nomura said it’s evaluating a potential loss estimated at $2 billion. Shares of Nomura and Credit Suisse were getting slammed in Monday’s premarket. The hedge fund at the center of the fallout is Archegos Capital Management, which was forced to liquidate positions at the end of last week. The moves by the multibillion dollar U.S. family office, founded by former Tiger equity analyst Bill Hwang, caused a wave of selling pressure Friday in U.S. media stocks and Chinese internet ADRs. 3. Ever Given cargo ship blocking Suez Canal is partially floated The giant Ever Given container ship blocking the Suez Canal was partially refloated early Monday, days after the vessel got stuck and brought a vital global trade route to a standstill. The Suez Canal Authority said the ship’s course has been corrected by 80% and further maneuvers will resume when the water level rises later in the day. It remains unclear when waterway will reopen to traffic as hundreds of ships are backed up and waiting to enter the Suez. Maritime data showed at least ten tankers and container ships changed course to avoid the logjam, including U.S. ships carrying natural gas for Cheniere and Shell/BG Group. 4. Biden to push infrastructure before health and family care President Joe Biden will separate his sprawling plan to upgrade the nation’s infrastructure into two separate pieces. Biden on Wednesday will unveil the first part of his plan, focusing on items like rebuilding roads and railways. The second part of the president’s plan — including child-care and health-care reforms, aspects of what’s sometimes called social infrastructure — will be released in “in just a couple of weeks,” White House press secretary Jen Psaki said Sunday in an interview. Taken as a whole, the legislation is expected to cost more than $3 trillion. 5. Fauci warns U.S. only ‘at the corner’ of Covid pandemic With the possibility of safer summer barbeques just a few months away, along with the promise of widespread Covid vaccine supply in the U.S. by the end of May, many Americans may be feeling as though the nation has finally turned the corner on the pandemic. However, White House Chief Medical Advisor Dr. Anthony Fauci warned that America is really only “at the corner.” New daily U.S. cases, while sharply lower than January’s high, increased 12% in the past seven days compared to a week ago, according to a CNBC analysis of Johns Hopkins University data. Nearly half of people ages 65 and older have completed all of their necessary shots, according to CDC data. However, just 20% of the adult population is considered fully vaccinated. STOCK FUTURES CURRENTLY: (CLICK HERE FOR STOCK FUTURES CHARTS!) LAST WEEK'S MARKET MAP: (CLICK HERE FOR LAST WEEK'S MARKET MAP!) TODAY'S MARKET MAP: (CLICK HERE FOR TODAY'S MARKET MAP!) LAST WEEK'S S&P SECTORS: (CLICK HERE FOR LAST WEEK'S S&P SECTORS CHART!) TODAY'S S&P SECTORS: (CLICK HERE FOR TODAY'S S&P SECTORS CHART!) TODAY'S ECONOMIC CALENDAR: (CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!) THIS WEEK'S ECONOMIC CALENDAR: (CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!) THIS WEEK'S UPCOMING IPO'S: (CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!) THIS WEEK'S EARNINGS CALENDAR: (CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!) THIS MORNING'S PRE-MARKET EARNINGS CALENDAR: ([CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!]()) (N/A.) EARNINGS RELEASES BEFORE THE OPEN TODAY: (CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!) EARNINGS RELEASES AFTER THE CLOSE TODAY: (CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!) FRIDAY'S ANALYST UPGRADES/DOWNGRADES: (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!) (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!) (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!) FRIDAY'S INSIDER TRADING FILINGS: (CLICK HERE FOR FRIDAY'S INSIDER TRADING FILINGS!) TODAY'S DIVIDEND CALENDAR: (CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!) THIS MORNING'S STOCK NEWS MOVERS: (source: cnbc.com) Discovery Communications (DISCA), Viacom (VIAC) – Both stocks remain on watch this morning, after significant declines last week. A source with direct knowledge of the situation told CNBC the sell-off was due to forced liquidation of positions held by Archegos Capital Management. Discovery gained 4.4% in premarket trading, while Viacom rose 2.5%. STOCK SYMBOL: DISCA CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Goldman Sachs (GS), Credit Suisse (CS), Nomura (NMR) – Goldman told shareholders that any losses it faces from the unwinding of trades by Archegos Capital Management are likely to be immaterial, according to a person familiar with the matter who spoke to Bloomberg. Credit Suisse said it faced a possible “highly significant and material” hit to its first-quarter results, however, after an unspecified fund had “defaulted on margin calls” to it and other banks. Nomura said it faced a possible $2 billion loss. Goldman fell 3% in premarket trading, Credit Suisse tumbled 11.2% and Nomura plummeted 14.5%. STOCK SYMBOL: GS CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Fly Leasing (FLY) – The Dublin-based aircraft leasing company agreed to be acquired by Carlyle Group (CG) affiliate Carlyle Aviation Partners for $17.05 per share, compared to Fly Leasing’s Friday close of $13.25. Fly Leasing soared 26.6% in premarket action. STOCK SYMBOL: FLY CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Boeing (BA) – Southwest Airlines (LUV) announced 100 firm orders for Boeing’s 737 Max jet, while taking an option on 155 more jets. Southwest had been considering alternatives to the 737 Max during the time the jet was grounded following two fatal crashes. Boeing rose 2.7% in the premarket. STOCK SYMBOL: BA CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Cal-Maine Foods (CALM) – The nation’s largest egg producer reported fiscal third-quarter profits of 28 cents per share, beating the 8 cents a share consensus estimate. Sales fell short of Wall Street forecasts. Cal-Maine said it benefited from strong demand for shell eggs, as consumers continued to eat more at home due to the pandemic. Cal-Maine gained 2.2% in premarket action. STOCK SYMBOL: CALM CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Tencent Music (TME) – The China-based music streaming service announced a $1 billion share buyback, its biggest ever, and its shares rose 7.2% in premarket trading. STOCK SYMBOL: TME CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Twitter (TWTR) – Twitter shares gained 2.1% in the premarket after Truist upgraded the stock to “buy” from “hold,” with the firm pointing to higher revenue growth estimates as well as what it refers to as “the most exciting product roadmap” it has ever seen from Twitter. STOCK SYMBOL: TWTR CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Bilibili (BILI) – The China-based online video company made its debut in Hong Kong trading following its secondary listing, closing 1% below its listing price. Its U.S. shares jumped 3.6% in premarket action. STOCK SYMBOL: BILI CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Visa (V) – Visa said it would allow the use of USD Coin – a c/ryptocurrency pegged directly to the U.S. dollar – to settle transactions on its payments network. STOCK SYMBOL: V CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Amazon.com (AMZN) – JPMorgan Chase added the stock as a “top pick,” saying the company was among those poised to deliver strong sustainable growth at a reasonable valuation. STOCK SYMBOL: AMZN CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Premier Financial Bancorp (PFBI) – Ohio-based Peoples Bancorp (PEBO) will merge with West Virginia-based Premier in an all-stock deal valued at about $292 million. Peoples shares rose 2% in premarket trading, with Premier gaining 1.4%. STOCK SYMBOL: PFBI CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) DISCUSS! What's on everyone's radar for today's trading day ahead here at r/stocks? I hope you all have an excellent trading day ahead today on this Monday, March 29th, 2021! :)   submitted by   /u/bigbear0083 [link]   [comments]
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  46. (3/29) Monday's Pre-Market Stock Movers & News (29/03/2021 - Reddit Stock Market)
    Good Monday morning traders and investors of the r/StockMarket sub! Welcome to the new trading week! Here are your pre-market stock movers & news on this Monday, March 29th, 2021- 5 things to know before the stock market opens Monday 1. U.S. futures drop after Friday’s records for Dow, S&P 500 U.S. stock futures dropped Monday after a late-session rally Friday sent the Dow Jones Industrial Average and S&P 500 up over 1.4% and nearly 1.7%, respectively, as stocks benefiting from a successful Covid reopening outperformed, again. The Dow and S&P 500, which both closed at record highs, saw weekly gains about equal to Friday’s advances. Dow stock Boeing rose 3% in Monday’s premarket after a huge aircraft order from Southwest Airlines. Southwest shares were up modestly. The Nasdaq on Friday erased an almost 1% loss and closed up 1.2%. However, the tech-heavy index still declined about 0.6% for the week, with just three days left in March. The Nasdaq was tracking for a slight monthly loss, while the Dow and S&P 500 were poised to turn in solid gains for the month. The 10-year Treasury yield was steady Monday, trading below its recent 14-month high. The rapid rise in yields this year has been troublesome for growth stocks, many of them tech names, as higher interest rates erode the value of future profits and squeeze market valuations. 2. Credit Suisse, Nomura take hit from U.S. hedge fund fallout Credit Suisse warned Monday of a “highly significant” hit to its first-quarter results, after the Swiss-based bank began exiting positions with a large U.S. hedge fund that melted down on margin calls last week. Japanese firm Nomura said it’s evaluating a potential loss estimated at $2 billion. Shares of Nomura and Credit Suisse were getting slammed in Monday’s premarket. The hedge fund at the center of the fallout is Archegos Capital Management, which was forced to liquidate positions at the end of last week. The moves by the multibillion dollar U.S. family office, founded by former Tiger equity analyst Bill Hwang, caused a wave of selling pressure Friday in U.S. media stocks and Chinese internet ADRs. 3. Ever Given cargo ship blocking Suez Canal is partially floated The giant Ever Given container ship blocking the Suez Canal was partially refloated early Monday, days after the vessel got stuck and brought a vital global trade route to a standstill. The Suez Canal Authority said the ship’s course has been corrected by 80% and further maneuvers will resume when the water level rises later in the day. It remains unclear when waterway will reopen to traffic as hundreds of ships are backed up and waiting to enter the Suez. Maritime data showed at least ten tankers and container ships changed course to avoid the logjam, including U.S. ships carrying natural gas for Cheniere and Shell/BG Group. 4. Biden to push infrastructure before health and family care President Joe Biden will separate his sprawling plan to upgrade the nation’s infrastructure into two separate pieces. Biden on Wednesday will unveil the first part of his plan, focusing on items like rebuilding roads and railways. The second part of the president’s plan — including child-care and health-care reforms, aspects of what’s sometimes called social infrastructure — will be released in “in just a couple of weeks,” White House press secretary Jen Psaki said Sunday in an interview. Taken as a whole, the legislation is expected to cost more than $3 trillion. 5. Fauci warns U.S. only ‘at the corner’ of Covid pandemic With the possibility of safer summer barbeques just a few months away, along with the promise of widespread Covid vaccine supply in the U.S. by the end of May, many Americans may be feeling as though the nation has finally turned the corner on the pandemic. However, White House Chief Medical Advisor Dr. Anthony Fauci warned that America is really only “at the corner.” New daily U.S. cases, while sharply lower than January’s high, increased 12% in the past seven days compared to a week ago, according to a CNBC analysis of Johns Hopkins University data. Nearly half of people ages 65 and older have completed all of their necessary shots, according to CDC data. However, just 20% of the adult population is considered fully vaccinated. STOCK FUTURES CURRENTLY: (CLICK HERE FOR STOCK FUTURES CHARTS!) LAST WEEK'S MARKET MAP: (CLICK HERE FOR LAST WEEK'S MARKET MAP!) TODAY'S MARKET MAP: (CLICK HERE FOR TODAY'S MARKET MAP!) LAST WEEK'S S&P SECTORS: (CLICK HERE FOR LAST WEEK'S S&P SECTORS CHART!) TODAY'S S&P SECTORS: (CLICK HERE FOR TODAY'S S&P SECTORS CHART!) TODAY'S ECONOMIC CALENDAR: (CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!) THIS WEEK'S ECONOMIC CALENDAR: (CLICK HERE FOR THIS WEEK'S ECONOMIC CALENDAR!) THIS WEEK'S UPCOMING IPO'S: (CLICK HERE FOR THIS WEEK'S UPCOMING IPO'S!) THIS WEEK'S EARNINGS CALENDAR: (CLICK HERE FOR THIS WEEK'S EARNINGS CALENDAR!) THIS MORNING'S PRE-MARKET EARNINGS CALENDAR: ([CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!]()) (N/A.) EARNINGS RELEASES BEFORE THE OPEN TODAY: (CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!) EARNINGS RELEASES AFTER THE CLOSE TODAY: (CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!) FRIDAY'S ANALYST UPGRADES/DOWNGRADES: (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!) (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!) (CLICK HERE FOR FRIDAY'S ANALYST UPGRADES/DOWNGRADES LINK #3!) FRIDAY'S INSIDER TRADING FILINGS: (CLICK HERE FOR FRIDAY'S INSIDER TRADING FILINGS!) TODAY'S DIVIDEND CALENDAR: (CLICK HERE FOR TODAY'S DIVIDEND CALENDAR!) THIS MORNING'S MOST ACTIVE TRENDING TICKERS ON STOCKTWITS: BA HGEN PSTH VIAC AJAX BLUE BRPA AAL CVS EEIQ THIS MORNING'S STOCK NEWS MOVERS: (source: cnbc.com) Discovery Communications (DISCA), Viacom (VIAC) – Both stocks remain on watch this morning, after significant declines last week. A source with direct knowledge of the situation told CNBC the sell-off was due to forced liquidation of positions held by Archegos Capital Management. Discovery gained 4.4% in premarket trading, while Viacom rose 2.5%. STOCK SYMBOL: DISCA CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Goldman Sachs (GS), Credit Suisse (CS), Nomura (NMR) – Goldman told shareholders that any losses it faces from the unwinding of trades by Archegos Capital Management are likely to be immaterial, according to a person familiar with the matter who spoke to Bloomberg. Credit Suisse said it faced a possible “highly significant and material” hit to its first-quarter results, however, after an unspecified fund had “defaulted on margin calls” to it and other banks. Nomura said it faced a possible $2 billion loss. Goldman fell 3% in premarket trading, Credit Suisse tumbled 11.2% and Nomura plummeted 14.5%. STOCK SYMBOL: GS CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Fly Leasing (FLY) – The Dublin-based aircraft leasing company agreed to be acquired by Carlyle Group (CG) affiliate Carlyle Aviation Partners for $17.05 per share, compared to Fly Leasing’s Friday close of $13.25. Fly Leasing soared 26.6% in premarket action. STOCK SYMBOL: FLY CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Boeing (BA) – Southwest Airlines (LUV) announced 100 firm orders for Boeing’s 737 Max jet, while taking an option on 155 more jets. Southwest had been considering alternatives to the 737 Max during the time the jet was grounded following two fatal crashes. Boeing rose 2.7% in the premarket. STOCK SYMBOL: BA CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Cal-Maine Foods (CALM) – The nation’s largest egg producer reported fiscal third-quarter profits of 28 cents per share, beating the 8 cents a share consensus estimate. Sales fell short of Wall Street forecasts. Cal-Maine said it benefited from strong demand for shell eggs, as consumers continued to eat more at home due to the pandemic. Cal-Maine gained 2.2% in premarket action. STOCK SYMBOL: CALM CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Tencent Music (TME) – The China-based music streaming service announced a $1 billion share buyback, its biggest ever, and its shares rose 7.2% in premarket trading. STOCK SYMBOL: TME CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Twitter (TWTR) – Twitter shares gained 2.1% in the premarket after Truist upgraded the stock to “buy” from “hold,” with the firm pointing to higher revenue growth estimates as well as what it refers to as “the most exciting product roadmap” it has ever seen from Twitter. STOCK SYMBOL: TWTR CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Bilibili (BILI) – The China-based online video company made its debut in Hong Kong trading following its secondary listing, closing 1% below its listing price. Its U.S. shares jumped 3.6% in premarket action. STOCK SYMBOL: BILI CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Visa (V) – Visa said it would allow the use of USD Coin – a cryptocurrency pegged directly to the U.S. dollar – to settle transactions on its payments network. STOCK SYMBOL: V CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Amazon.com (AMZN) – JPMorgan Chase added the stock as a “top pick,” saying the company was among those poised to deliver strong sustainable growth at a reasonable valuation. STOCK SYMBOL: AMZN CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) Premier Financial Bancorp (PFBI) – Ohio-based Peoples Bancorp (PEBO) will merge with West Virginia-based Premier in an all-stock deal valued at about $292 million. Peoples shares rose 2% in premarket trading, with Premier gaining 1.4%. STOCK SYMBOL: PFBI CLICK HERE FOR CHART! (CLICK HERE FOR LIVE STOCK QUOTE!) DISCUSS! What's on everyone's radar for today's trading day ahead here at r/StockMarket? I hope you all have an excellent trading day ahead today on this Monday, March 29th, 2021! :)   submitted by   /u/bigbear0083 [link]   [comments]
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  47. $BA — Citing a serious flight test incident and lack of design maturity, FAA slows Boeing 777X certification (28/06/2021 - Reddit Stocks)
    https://www.seattletimes.com/business/boeing-aerospace/citing-a-serious-flight-test-incident-and-lack-of-design-maturity-faa-slows-boeing-777x-certification/ In yet another blow to Boeing, the Federal Aviation Administration last month formally denied the jet maker permission to move forward with a key step in certifying its forthcoming giant widebody airplane, the 777X. In a sternly worded letter dated May 13, which was reviewed by The Seattle Times, the FAA warned Boeing it may have to increase the number of test flights planned and that certification realistically is now more than two years out, probably in late 2023. That could push the jet’s entry into commercial service into early 2024, four years later than originally planned. The FAA cited a long litany of concerns, including a serious flight control incident during a test flight on Dec. 8, 2020, when the plane experienced an “uncommanded pitch event” — meaning the nose of the aircraft pitched abruptly up or down without input from the pilots. Boeing has yet to satisfy the FAA that it has fully understood and corrected what went wrong that day. The letter was signed by Ian Won, the manager of the local FAA office that judges whether Boeing has met all regulatory standards. He also told Boeing that a critical avionics system proposed for the airplane does not meet requirements. And he expressed concern about proposed modifications involving late changes to both software and hardware in the electronics of the jet’s flight controls. “The aircraft is not yet ready,” Won wrote. “The technical data required for type certification has not reached a point where it appears the aircraft type design is mature and can be expected to meet the applicable regulations.” An FAA official, who asked not to be identified in order to speak freely, said the drag on 777X certification is now “the subject of a lot of attention” at high levels both within the agency and at Boeing. Boeing’s last all-new jet, the 787, had to be grounded in 2013 when its batteries smoldered in flight. The next new plane, the derivative 737 MAX, was grounded for 21 months starting in 2019 after flawed new flight controls caused two fatal crashes. Now the forthcoming 777X is having a troubled certification process. Is this just the FAA getting tough because of all the scrutiny? The FAA official said that even if the MAX crashes hadn’t happened, the list of serious issues now raised about the 777X would merit rigorous regulatory attention. Within the FAA, the person said, “there’s a general feeling that Boeing has kind of lost a step,” referring to the slide away from a historic reputation for engineering prowess. And because of all the missteps, the official added, “the days of Boeing being able to say to the FAA ‘Just trust us’ are long gone.” In a statement Friday, Boeing said it “remains fully focused on safety as our highest priority throughout 777X development.” The airplane is undergoing “a comprehensive test program to demonstrate its safety and reliability … to ensure we meet all applicable requirements,” Boeing added. The FAA in a statement said safety drives its decisions and timelines. “The FAA will not approve any aircraft unless it meets our safety and certification standards,” the agency said. FAA exasperated Boeing launched the 777X at the Dubai Air Show in the fall of 2013, and at that time targeted 2020 as the year it would enter service. Set to replace the Boeing 747 jumbo and Airbus A380 superjumbo passenger planes — which are no longer built — as the largest airliner in production, the 777X is a stretch version of the successful 777 passenger airliner featuring a new, superlong, carbon composite wing with folding tips and the largest jet engines ever built. Boeing invested more than $1 billion in a new composites fabrication plant in Everett to build the wings. Inside the main Everett assembly building, Boeing also installed state-of-the-art, automated stations to robotically assemble the wings — equipment designed by Mukilteo-based engineering company Electroimpact — and completely changed the way the 777 fuselage and wings come together to make assembly more flexible and efficient. The first of two 777X models and the largest — the 777-9X, which carries 426 passengers in a two-class configuration — made its first flight in January 2020, kicking off the test flight program. By now, four test planes are flying out of Boeing Field and at least 17 more 777Xs destined for customers Emirates, Lufthansa, Qatar Airways and All Nippon Airways have rolled out of the factory. Boeing will have to park those production aircraft and any more built from now through at least late 2023 until certification allows their delivery. The FAA’s letter on the status of 777X certification is addressed to Tom Galantowicz, the head of Boeing’s internal organization consisting of engineers and managers who act as proxies for the federal agency, tasked with testing and verifying that a new airplane design meets safety standards. The letter denies Boeing a specific approval for the 777-9X called “Type Inspection Authorization” readiness. Without this, Boeing cannot put FAA personnel on board flight tests and begin to collect certification data. The wording suggests a degree of exasperation with Boeing pushing for TIA when the FAA deems it far from ready. “The FAA and Boeing have been discussing the TIA readiness of the Boeing Model 777-9 in numerous meetings over the past nine months,” the letter reads, adding that despite Boeing’s assertion that proceeding with TIA “warrants consideration,” the FAA in contrast “considers that the aircraft is not yet ready.” The letter then lists a host of shortfalls in Boeing’s readiness. FAA demands data, not promises Asked about the test flight that experienced the “uncommanded pitch event” in December, Boeing said the plane went on to land safely and that engineers investigated the root cause and have developed a major software update to fix the problem. In the meantime, until that’s approved, Boeing has given the test pilots instructions on how to avoid the incident recurring so that test flights can continue. Yet the FAA clearly isn’t satisfied with Boeing’s promise of a software fix. “After the uncommanded pitch event, the FAA is yet to see how Boeing fully implements all the corrective actions identified by the root cause investigation,” the letter reads. “Software load dates are continuously sliding and the FAA needs better visibility into the causes of the delays,” it states. To confirm “the maturity and safety/airworthiness of the aircraft,” the FAA demands comprehensive and documented reviews of the changes resulting from the investigation into the incident, to ensure that a similar problem “will not happen in the future and this is not a systemic issue.” The FAA separately highlights concern over a critical piece of new avionics on the jet — the Common Core System, a set of shared computing resources critical to the functioning of multiple airplane systems. Won notes that Galantowicz conceded in a letter to the FAA earlier in May that the CCS has incomplete software and does not meet TIA requirements. Citing a “lack of data” and the absence of a Preliminary Safety Assessment for the FAA to review, the agency’s letter declares that Boeing hasn’t even met its own process requirements. Boeing’s CCS “review dates have continuously slid over a year,” the letter notes. In turning down the 777X for TIA readiness, the FAA also cited a finding that the supplier of the avionics provided “inadequate peer review” in a safety analysis “resulting in inconsistencies … and incorrect reuse of 787 data.” GE Aviation’s plant in Grand Rapids, Michigan, supplies the CCS, which builds upon the similar common core avionics system it designed for the 787. GE, which touts the CCS as the “central nervous system and brain” of the airplane, deferred comment to Boeing. Demand for 777X currently near zero Another problem for the FAA is Boeing’s proposal of late changes to the 777X flight control system. “Boeing is proposing modifications that will involve firmware and hardware changes to the actuator controls electronics of the Flight Control System,” the FAA states. “Boeing needs to ensure the changes do not introduce new, inadvertent failures modes.” Other pending modifications to the design of systems around the jet’s horizontal tail or stabilizer, which controls the pitch of the airplane, will change the crew alerts that flag certain system failures. “Design maturity is in question as design changes are ongoing and potentially significant,” the letter states. Separately, the letter states in passing that the European Union Aviation Safety Agency (EASA) has also “not yet agreed on a way forward” with regard to 777X certification. In an emailed response Friday, EASA spokesperson Janet Northcote said the agency is “cooperating closely with the FAA” on 777X certification. “We are looking closely at the technical files with the FAA and Boeing and this work is still ongoing,” she said. The FAA’s letter told Boeing that because of the gaps in the 777X technical data, it anticipates a significant increase in the required level of testing and analysis, “and the potential to increase the number of certification flight tests that will need to take place.” The letter concludes by requesting that Galantowicz’s unit “close these gaps” before submitting any further requests for TIA approval and that “based on the information from Boeing,” 777X certification is realistically more than two years out, in “mid to late 2023.” Ironically, the only positive for Boeing in this situation is that — because of the pandemic’s destruction of international air travel demand — no airline in the world wants a 777X right now. When international travel begins to pick up again post-pandemic, airlines will begin service with smaller jets like Boeing’s long-range 787 until long-haul air travel gradually returns to a level approaching what was typical in 2019. Yet at a Bernstein Research industry conference this month, Boeing CEO Dave Calhoun doubled down on the 777X despite all the setbacks. Once the jet is certified, he said, “it will have a 40- or 50-year run, and I think it will be one of the great runs of all time.” “I have lots of confidence in it,” Calhoun said. “We love it.” Boeing’s website lists 320 orders for the 777X, though because of the delays airline customers will have the option to cancel some of those and may switch to smaller Boeing jets. Dubai-based Emirates, the largest 777X customer, reduced its initial order for 150 aircraft to 115, swapping out 35 of the 777Xs for 30 much less expensive 787s. The original 777 flight test program in the mid 1990s, from first flight to certification, took 10 months. For the 737 MAX, that period was just over 13 months. During the problem-ridden and much delayed development of the 787, first flight to certification took just over 20 months. The 777X is currently set to reach certification almost four years after first flight. Citing the delays in getting the plane certified, Emirates airline President Tim Clark has said he doesn’t expect any 777X deliveries until 2024. Realistically, that’s the earliest any global carrier might want to take delivery of such a huge aircraft. Four years late, that’s when the 777X may finally be ready.   submitted by   /u/topografica [link]   [comments]
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  48. Biogen Inc. (BIIB) Q2 2021 Earnings Call Transcript (23/07/2021 - AlphaStreet)
    Biogen Inc. (NASDAQ: BIIB) Q2 2021 earnings call dated Jul. 22, 2021 Corporate Participants: Mike Hencke — Director of Investor Relations Michel Vounatsos — Chief Executive Officer Alfred Sandrock — Head of Research and Development Alisha Alaimo — President, Biogen U.S. Organization Michael McDonnell — Chief Financial Officer Chirfi Guindo — Head of Global Product Strategy and Commercialization Analysts: Jay Olson — Oppeheimer — Analyst Michael Yee — Jefferies — Analyst Umer Raffat — Evercore ISI — Analyst Marc Goodman — SVB Leerink — Analyst Matthew Harrison — Morgan Stanley — Analyst Phil Nadeau — Cowen & Company — Analyst Paul Matteis — Stifel Nicolaus — Analyst Cory Kasimov — JPMorgan — Analyst Terence Flynn — Goldman Sachs — Analyst Presentation: Operator Good morning. My name is Qin, and I will be your conference operator today. At this time, I would like to welcome everyone to the Biogen’s Second Quarter Earnings Call and Financial Update. [Operator Instructions] Thank you. I would now like to turn the conference over to Mr. Mike Hencke, Director, Investor Relations. Mr. Hencke, you may begin your conference. Mike Hencke — Director of Investor Relations Good morning, and welcome to Biogen’s second quarter 2021 earnings call. Before we begin, I would encourage everyone to go to the Investors section of biogen.com to find the earnings release and related financial tables, including our GAAP financial measures and a reconciliation of the GAAP to non-GAAP financial measures that we will discuss today. Our GAAP financials are provided in Tables 1 and 2, and Table 4 includes a reconciliation of our GAAP to non-GAAP financial results. We believe non-GAAP financial results better represent the ongoing economics of our business and reflect how we manage the business internally. We have also posted slides on our website that follow the discussions related to this call. I would like to point out that we will be making forward-looking statements which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. I encourage you to consult the risk factors discussed in our SEC filings for additional detail. On today’s call, I am joined by our Chief Executive Officer, Michel Vounatsos; Dr. Al Sandrock, Head of Research and Development; and our CFO, Mike McDonnell. We will also be joined for the Q&A portion of our call by Chirfi Guindo, Head of Global Product Strategy and Commercialization; and Alisha Alaimo, President of our US Organization. As a reminder, during the Q&A portion of the call, we kindly ask that you limit yourself to one question. I will now turn the call over to Michel. Michel Vounatsos — Chief Executive Officer Good morning, everyone, and thank you for joining us. We have completed the first half of a transformative year for Biogen with progress across our neuroscience portfolio. However, I would like to start by addressing the confusion and criticism surrounding the recent approval of ADUHELM. We are cognizant of the key issues raised by the community and are working to provide additional clarity through the following goals: exploring all options to maximize patient access including for the underserved population and those more at risk due to ethnicity; educating on the updated label language, which I will discuss; publishing our Phase 3 results in a peer-reviewed journal and disseminating additional data to inform clinical practice including the management of ARIA; expediting the execution of the Phase 4 confirmatory study; and leveraging the unique data generation opportunity we have with EMBARK, the longest and most comprehensive longitudinal study for Alzheimer’s disease therapy. Biogen stands behind our clinical data from eight studies with more than 3,000 patients that supported accelerated approval. As the FDA’s current Chief stated publicly earlier this month, ADUHELM was approved appropriately on very solid grounds and represented the right thing to do for the patients. I want to be clear that Biogen stands behind the integrity of the review process, respectful dialogue between the industry and regulators is stand out and essential to advance the understanding of the therapeutic data driving innovation as demonstrated more recently by the COVID-19 vaccines development programs of last year. We believe the accelerated approval pathway has transformed the treatment of oncology and now has the potential to transform the treatment of Alzheimer’s disease. We appreciate the concerns about the price and are committed to ensure sustainability of the system and maximizing access for patients. Without access, every day that passes we estimate that approximately 1,000 Americans move from the early stage of Alzheimer’s to moderate or severe dementia and therefore, may no longer be appropriate for initiation of treatment with ADUHELM. This is why we are working with a sense of urgency to engage with the community with payers, with CMS, and with policymakers to discuss potential innovative approaches with the goal of ensuring the price does not represent access issues for patients. With that said, I would like to focus on the fundamentals. Another quarter with solid underlying financial performance that exceeded our expectation. The accelerated approval of ADUHELM for people suffering from Alzheimer’s disease and key readouts across our diversified portfolio. First, the accelerated approval of ADUHELM represents the first new therapy for Alzheimer’s disease in almost 20 years. Biogen has a deep history of building new markets and delivering innovative and impactful therapies to patients in need. We pioneered and currently maintain the market-leading portfolio of therapies for MS. We delivered the first approved and market-leading therapy for SMA. Now, with ADUHELM, we have the first approved therapy to address a defining pathology of Alzheimer’s disease, which we believe represents a significant value creation opportunity for years to come. To lead us in successfully executing on our long-term leadership strategy, I am pleased to announce that Rachid Izzar will be Head of our newly created Alzheimer’s Disease and Dementia business unit and will join the Executive Committee of Biogen. Rachid is currently in charge of Biogen’s Intercontinental Region and our Biosimilars business unit. His experience across multiple geographies and global position will serve us well as he works to maximize our potential impact on the lives of people living with this devastating disease. We have seen strong indications of very high initial patient interest in ADUHELM as well as increased referrals from PCPs to specialists. However, it will take some time for sites to get up and running. While some large centers have said they will refrain for now from administering ADUHELM to patients, many of the sites are moving forward with internal processes such as pharmacy and therapeutics, or P&T, committee review, with some accelerating faster than we had originally planned. Of the 900 sites approximately which we expected to be ready shortly after approval, we estimate that approximately 325 or 35% have completed a P&T review with a positive outcome or indicated that they won’t require a P&T review. We have also seen some sites leverage external infusion centers in the face internal resistance or are waiting clarity on their facilities internal process. We continue to believe that consistent with our clinical trials, more specialists will require confirmation of amyloid beta pathology, either via PET or CSF, which is also taking time to schedule and coordinate. In terms of reimbursement, it is still the early days. And I am pleased to say that we have seen the first examples of Medicare Advantage plans approving pre-authorization. We welcome the recent opening of the National Coverage Determination analysis by CMS for monoclonal antibodies targeting amyloid-beta, including ADUHELM. We believe this process will provide additional clarity on coverage for Medicare beneficiaries and drive consistency of access across the country. We expect that regional Medicare Administrative Contractors and Medicare Advantage plans will provide coverage for ADUHELM while the NCD analysis is underway. We believe that CMS’s swift decision to initiate the NCD analysis is a testament to the large unmet need in Alzheimer’s disease and the urgency to clarify access for patients. We obtained new lable language for ADUHELM in July, to clarify, that treatment should be initiated in patients with mild cognitive impairment due to Alzheimer’s disease or mild Alzheimer’s dementia. This is the population studied in our clinical trials, and where we generated clinical evidence as stated in Section 14 of the ADUHELM label. This updated language aligns with our consistent expectation that ADUHELM will be prescribed mainly by specialists for patients in the early stage of Alzheimer’s disease, and this update has been well received by the community, including prescribers, payers, and policymakers. Outside the U.S., we continue to engage with regulators regarding the ongoing review in Europe, Japan, and other markets, while also continuing to submit new regulatory filing around the world. In addition, we are pursuing early access mechanisms wherever possible, including an early access program and a charge managed access program. We recognize that building a new market for Alzheimer’s disease is an unprecedented undertaking and that this is just the beginning of our journey as we aim to make ADUHELM, and potentially Lecanemab, accessible to patients around the world. We believe our teams are well equipped to successfully execute on a well-defined strategy aimed at long-term leadership for Biogen in Alzheimer’s disease. Second, this quarter, our pipeline delivered meaningful mid to late-stage results in key areas including depression, stroke, and biosimilars. The positive WATERFALL Phase 3 trial for zuranolone in major depressive disorder is a significant milestone towards bringing a differentiated potential treatment option to the 17 million patients suffering from depression in the U.S. alone. The observed rapid onset of benefit, in as soon as three days, in addition to a differentiated tolerability profile and two-week dosing regimen underscores our belief that if approved zuranolone alone would be a multi-billion dollar product. We were also excited to see positive data from the Phase 2a trial of TMS-007 in acute ischemic stroke. Stroke is the second leading cause of death worldwide, and those who survive may suffer irreversible damage of the brain. We are highly encouraged by the results of the trial, and we immediately moved forward with executing the option to acquire TMS-007. Should both zuranolone and TMS-007 be approved, Biogen will be in a leadership position in offering novel therapies for Alzheimer’s disease, the number one neurodegenerative disease; depression, one of the most common mental health disorder; and stroke, a leading cause of neurologic disability. In addition to these readouts, we had a positive Phase 3 readout for our biosimilars referencing ACTEMRA with these positive results in hand, we begin to prepare for a regulatory filing. As with any company engaging in breakthrough science, we also had setbacks in some programs including our anti-tau antibody in Alzheimer’s disease and our gene therapy programs in ophthalmology. Third, we reported a solid quarter as we continue to execute well across our core business of MS, SMA, and biosimilars and we are pleased to be raising our revenue guidance for the year which Mike will discuss. Q2 overall MS revenue, including OCREVUS royalties, was $1.8 billion. Putting aside the entry of TECFIDERA generics in the US, our broader MS business continued to demonstrate resilience with a 5% increase in patients worldwide. This performance underscore our ability to execute well. We were very pleased to see continued revenue growth for VUMERITY which remains the number one oral MS product in terms of new prescriptions in the US. We believe this performance is a testament to VUMERITY’s strong product profile. Given the progress of the VUMERITY’s launch-to-date, in addition to plan ned ex-U.S. launches, we believe VUMERITY can reach over $1 billion in annual sales over time. We also continue to invest in new potential treatment to address the remaining unmet medical needs for MS patients. Last week, we announced a license and collaboration agreement with InnoCare for Orelabrutinib and innovative CNS penetrant Phase 2 BTK inhibitor for the potential treatment of all forms of MS. This transaction is subject to customary closing conditions. Next, SPINRAZA generated second quarter global revenues of $500 million. While SPINRAZA is facing competition in the U.S., which has been exacerbated by the impact of COVID-19 pandemic, we were encouraged to see that SPINRAZA’s discontinuation continued to decrease versus Q1 of this year. Total revenue in the U.S. was flat versus the prior quarter, and SPINRAZA continued to perform very well outside the U.S. with 23% revenue growth versus Q2 of last year. SPINRAZA remains the market-leading treatment for SMA, and we stand behind SPINRAZA ‘s proven efficacy and well-established safety profiles across all types of SMA. In fact, our market research indicates that SPINRAZA’s perceived efficacy among adults has improved over the past year and exceeds the efficacy perception for therapeutic alternatives including rizeplan. Although we face near-term competitive pressure in SMA, we believe SPINRAZA can continue to grow over the medium to long-term both in the U.S. and globally driven by overall market growth, the efficacy and safety profile in all age groups, continued data generation particularly in older patients, and further geographic expansion. Our Biosimilars business delivered revenue of $202 million this quarter. While we remained focused on executing against our currently marketed therapies, we also looked to expand our portfolio, including our recent collaboration with Biotech and a positive CHMP opinion for our biosimilar referencing LUCENTIS. Fourth, we still have two key Phase 3 readouts anticipated in the remainder of 2021. This includes the Phase 3 study for Tofersen, potentially the first genetically targeted therapy for ALS as well as an additional Phase 3 for zuranolone in major depressive disorder. Given the incredible unmet medical need in ALS and encouraging results from the prior to present trial, we recently initiated an individual compassionate use program to provide Tofersen to the most rapidly progressing patients suffering from SOD1 ALS. Taken together, these developments represent a significant step forward in our goal of transforming Biogen from what was once an MS Company to one that is built upon a multi-franchise portfolio across a broad spectrum of neuroscience therapeutic areas. I would like now to turn the call over to Al for a more detailed update on our progress in R&D.detailed update on our progress in R&D. Alfred Sandrock — Head of Research and Development Thank you, Michel. I’d like to start by saying a few words about aducanumab. The accelerated approval of aducanumab has generated discussions reflecting a broad range of opinions, including about its efficacy, the FDA selection of the accelerated approval path, and the regulatory process in general. Since June 7, the FDA has made several clarifying statements on these topics. As always we deferred to the FDA as the lead voice on such matters. They are the independent regulatory body charged with weighing the data expertly and dispassionately in order to make critical decisions that have the potential to impact millions of people, but I thought it would be helpful to add our perspective about several of these topics including our interactions with the agency. We are proud of the work our dedicated team has done to develop aducanumab and the hope it brings to patients with Alzheimer’s disease. We are equally proud of the professionalism both our team and the FDA demonstrated during a very lengthy process. We, therefore, welcome a formal review into the interactions between FDA and Biogen on the path to the approval of aducanumab, a better understanding of the facts is good for everyone involved to assure confidence in both the therapy and the process by which it was approved. We will cooperate fully with the review, even as we prioritize the issues that affect patients. I want to underscore that it is normal and appropriate for scientists and clinicians to discuss the data from experiments and clinical trials to debate and to disagree on the interpretation of the data. That is how science advances, and we welcome these discussions. However, I would like to correct some of the misinformation we have seen recently. First, several people have stated that all anti-amyloid antibodies clear amyloid from the brain. This is factually incorrect. First-generation anti-amyloid antibodies, such as bapineuzumab and solanezumab, are not specific for aggregated forms of A beta or target soluble and monomeric A beta, and crenezumab, being an IgG4, is deficient in effector function. As a result, these antibodies do not clear amyloid from the brain. This slide shows the amyloid PET imaging results from the peer reviewed literature of these first-generation antibodies. Crenezumab and solanezumab had no significant difference from placebo on amyloid plaque burden. Bapineuzumab did a show a significant difference from placebo in the Phase 3 trials, but this was largely driven by an unexplained increase in amyloid plaque burden in these placebo treated patients in the mild to moderate stage of Alzheimer’s disease. We believe this increase in amyloid plaque in placebo patients must have been a spurious result as we now know the plaque buildup reaches a maximum by the time that patients have mild cognitive impairment. In short, there is no evidence that the first generation antibodies against a beta actually remove amyloid plaque. There is no basis for using the failure of these antibodies as a reason not to approve aducanumab. We have also seen statements that all of aducanumab’s results are post hoc; that is also factually incorrect. The primary and secondary endpoints had been pre-specified in the Phase 3 trial protocols and statistical analysis plans before the first patient was enrolled into the trials. The aducanumab label shows the results on these pre-specified endpoints based on data that had already been collected at the sites by the time the trials were prematurely terminated on March 21, 2019. Separately, some have contended that ARIA led to unblinding. We took great care to ensure that the neurologists who assess the clinical outcome measures did not know about the occurrence of ARIA. One way in which we assured ourselves that unblinding did not affect the results was to examine the clinical outcomes after ARIA was seen. If ARIA had effective blinding, the results after ARIA might be expected to change. This slide shows that the results excluding data that had been obtained after ARIA events were the same as the overall results. Thus, we are confident that unblinding due to ARIA did not affect the results of the Phase 3 trial of aducanumab. And finally, some people have opined that the approval of aducanumab would inhibit the development of other drugs for Alzheimer’s disease. This statement is contradicted by precedent. Prime example that the history of drug approvals for HIV-AIDS, non-Hodgkin’s lymphoma, and multiple sclerosis to name just a few. In neurology, the first medicine ever approved for MS was in 1993 when beta interferon received accelerated approval in the US. Within the next several years, two other types of beta interferon were approved after controlled clinical trials showed that they slowed the progression of disability. Today, there are more than 20 drugs approved for the treatment of MS, all of which reduce the risk of relapse or slow the progression of disability, or both. All new molecular entities were approved based on randomized controlled clinical trials that continued to be conducted to this day, nearly 30 years after the accelerated approval of beta-interferon. We believe a similar situation is just starting to unfold with Alzheimer’s disease. Over the coming years, data will become available from Phase 3 trials of several second-generation antiamyloid antibodies which are capable of effectively removing amyloid plaque, and we also will have the results of the post-marketing trial of aducanumab. These data should address any residual uncertainty surrounding the efficacy of this class. In the meantime, the main serious risk associated with aducanumab is ARIA. Based on data from the Phase 3 trial, ARIA, which is an amyloid-related imaging abnormality, occurred in 41% of patients who took aducanumab, 10 milligrams per kilogram, and 10% of patients who took placebo. Of the patients taking aducanumab that experienced ARIA, 24% experienced clinical symptoms. In other words, about 10% of patients treated with the approved dose of aducanumab experienced symptomatic ARIA. Serious symptoms were reported in 0.3% of patients. Alzheimer’s disease is 100% fatal and before death, it robs people of themselves. Should these additional clinical studies confirm that this class of drugs is effective in slowing clinical decline, as Michel mentioned, patients who lack access to aducanumab may no longer be appropriate for treatment. We have been discussing the aducanumab data for many months now. Aducanumab was approved for use in the United States on June 7, and the data are summarized clearly in the label. Our hope is for doctors to discuss the benefits and risks of taking aducanumab with their patients and caregivers based on rational analysis and accurate information. We are doing what we can to provide that information to the prescribing community in a number of ways. First, we will continue to present at scientific forums and publish analyses from our Phase 3 trials of aducanumab with a focus on publishing the primary manuscript and disseminating additional data to inform clinical practice, including the management of ARIA. This includes four presentations planned for the AAIC Conference next week. Second, we are moving with a sense of urgency to finalize the design of the aducanumab post-marketing confirmatory Phase 4 controlled study intended to verify the clinical benefit of aducanumab in Alzheimer’s disease. We are still working through the details and are actively engaged with regulators. Our goal is to execute this study as expeditiously as possible and well ahead of the post-marketing commitment of approximately nine years. Third, we have a unique data generation opportunity with EMBARK, with the EMBARK long-term extension study. Just this month, we enrolled our last patient in the trial, bringing the total enrollment in the study up to roughly 1,700 Alzheimer’s disease patients. The two-year EMBARK study will include patients previously treated with aducanumab for up to approximately 6.5 years, thereby generating important long-term safety and efficacy data for aducanumab. We plan to present the EMBARK baseline data at an upcoming medical meeting, which should yield important insights on the effects of treatment interruption, the longer-term impact of reducing amyloid plaques, and the potential benefits of continued treatment. Lastly, we plan to initiate a real-world observational study in Alzheimer’s disease called ICARE AD-US in order to collect real-world long-term effectiveness and safety data on aducanumab. We’re also evaluating additional formulations of aducanumab with the goal of increasing patient confidence. Last month, we initiated a Phase 1 study to evaluate bioavailability of a subcutaneous formulation of aducanumab and continued to engage with regulators on the appropriate development strategy. Finally, we continue to advance our innovative pipeline of potential Alzheimer’s disease treatments. This includes Lecanemab, our other anti-amyloid antibody that we are collaborating on with Eisai. Lecanemab was recently awarded breakthrough therapy designation by the FDA, and we are working with Eisai to engage with the FDA and pursue the optimum regulatory pathway. We also look forward to the readout of the Clarity Phase 3 study of Lecanemab expected next year. In addition to our anti-amyloid approaches, we are also targeting tau, the primary component of neurofibrillary tangles, another pathological hallmark of Alzheimer’s disease. Although we were disappointed to learn that the Phase 2 study of gosuranemab in early Alzheimer’s disease did not meet the primary or secondary endpoints, we do not believe these results diminish the relevance of tau as a potential therapeutic target in Alzheimer’s disease, whereas we have discontinued the BIIB092 program, we are continuing the development of BIIB080, our antisense oligonucleotide, which aims to reduce the production of all forms of tau both intra and extracellular. Results of the Phase 1 trial will be presented at AAIC next week. In addition to Alzheimer’s disease, this quarter we continue to progress a broad neuroscience pipeline with positive data readouts in depression and stroke both areas in need of innovation. First, in neuropsychiatry in collaboration with Sage, we were excited to learn that the Phase 3 WATERFALL Study, evaluating a 50 milligram dose of zuranolone in major depressive disorder achieved its primary endpoint. Despite the pronounced placebo effect observed in the WATERFALL study, two weeks of zuranolone treatment resulted in a statistically significant reduction in depressive symptoms at day 15, as measured by the HAM-D 17 scale, versus placebo. Zuranolone treatment also resulted in a rapid onset of action showing treatment effects at day 3, 8, and 12. The safety profile was similar to that seen previously in that most treatment-emergent adverse events were mild to moderate in severity, and we observed no signal of increased suicide idealization or behavior or withdrawal symptoms. We continue to believe that zuranolone, with its rapid treatment response, durable treatment effects after a two-week dosing period, and differentiated tolerability, has the potential to transform treatment for people suffering from depression. We are now working with Sage to determine the optimum filing path. The WATERFALL study is also — is part of the robust development program for zuranolone, which also includes the ongoing SHORELINE, CORAL, and SKYLARK studies. We expect to report topline data from CORAL and SHORELINE in 2021. We are working with Sage to evaluate enrollment rates for the SKYLARK study, and we’ll provide updates when that work is completed. We also obtained positive data from the Phase 2a study of TMS-007 in acute ischemic stroke. Current standard of care in the treatment of ischemic stroke calls for the use of thrombolytic agents within three to four and a half hours of symptom onset. The approved agents also carry the risk of intracranial hemorrhage, or ICH, which increases with time. During the Phase 2a study of TMS-007, now referred to as BIIB131, the patients were dosed 4.5 to 12 hours after the onset of stroke symptoms with an average of 9.5 hours. There was no symptomatic ICH in the BIIB131 group. When compared to placebo, BIIB131 increased the rate of recanalization of occluded intracranial arteries, as visualized by MRI angiography in patients with large vessel strokes. Moreover, more patients regain the ability to function independently as measured by the Modified Rankin scale at day 90 compared to placebo. We are encouraged by the results of this study and are hopeful that BIIB131 could have the potential to be a next-generation thrombolytic drug that safely extends the treatment window after stroke onset. We plan to advance BIIB131 into the late stages of development as soon as possible. We also bolstered our MS pipeline through a proposed license and collaboration agreement with InnoCare for a Phase 2 oral small molecule BTK inhibitor for the potential treatment of MS. Orelabrutinib, a covalent BTK inhibitor with high selectivity and demonstrated CNS penetrant is currently being studied in a global placebo-controlled Phase 2 study in relapsing remitting MS. The ability of orelabrutinib to cross the blood-brain barrier combined with its high kinase selectivity differentiates it from other BTK inhibitors currently in development for MS. Looking toward the remainder of the year, we also have two pivotal readouts remaining in ALS and depression. Earlier this month, we completed the one-year placebo-controlled treatment period of the Phase 3 study of tofersen in SOD1 ALS, and we expect a readout by this fall. We also recently enrolled the first participant in ATLAS, a Phase 3 trial of tofersen initiated in clinically pre-symptomatic SOD1 mutation carriers. Our hope is that treating people earlier in this disease may provide the best opportunity to slow or even delay the onset of this terrible disease. In summary, this quarter, our R&D organization made significant progress advancing our pipeline. In addition to the accelerated approval of aducanumab, we completed five mid-to-late stage readouts in several key therapeutic areas characterized by high unmet need, including depression and stroke. The field of neuroscience is rapidly advancing, and with the investments, we have made in prioritizing genetically validated targets, deploying biomarkers in early-stage clinical programs, and building our human and technological capabilities, we believe we are well-positioned to take advantage of the many opportunities offered by this exciting area of science for the benefit of patients. I will now pass the call over to Mike. Mike Hencke — Director of Investor Relations Thank you, Al. As Michel noted, we were very pleased with our second quarter results as we continue to execute well. We continue to face competition from TECFIDERA generics in the US, which impacted our year-over-year financial performance. However, as we move forward, we remain fully focused on our core business, as well as the launch of ADUHELM in the United States. Total revenue for the second quarter of $2.8 billion, declined 25% versus the prior year at actual currency and 26% at constant currency. This decline reflects the impact of TECFIDERA generics, in addition to approximately $330 million in revenue, that was recorded in Q2 2020, related to the one-time license of certain manufacturing-related intellectual property. We were, however, encouraged to see total revenue increase by 3% versus Q1 of 2021, primarily driven by the MS franchise and OCREVUS royalties. Total ADUHELM revenue for the second quarter was $2 million. I would refer you to our slides and commentary that we gave on our June 8 call for details on the accounting with Eisai and Neurimmune. Total MS revenue for the second quarter was $1.8 billion inclusive of OCREVUS royalties. Looking now at some of the individual products within MS. Global TECFIDERA revenue for the second quarter was $488 million. In the US, second quarter revenue of $178 million increased versus the prior quarter due to seasonality and shipping dynamics, and we expect TECFIDERA in the US to continue to decline throughout the year. Outside of the US, second quarter TECFIDERA revenue of $309 million increased 15% versus the prior year, with 6% underlying patient growth. We were pleased with the continued ramp in VUMERITY revenue from $74 million in the first quarter to $91 million in the second quarter. And as Michel mentioned, we believe that VUMERITY can become a $1 billion annual revenue product over time. TYSABRI second quarter global revenue of $524 million increased 21% versus the prior year benefiting from shipping dynamics in both the US and outside the US. We were pleased to see 7% growth in global TYSABRI patients and we believe TYSABRI remains well-positioned to play an increasingly important role in the treatment of MS. Moving now to SMA. Global second quarter SPINRAZA revenue of $500 million, increased 1% versus the prior year at actual currency and decreased 3% at constant currency. In the US, SPINRAZA revenue of $149 million decreased by 29% versus the prior year as we see continued impact from competition. Outside the US, SPINRAZA revenue grew percent versus the prior year, although some of this growth was attributable to accelerated shipping. Moving now to our Biosimilars business. Second quarter revenue of $202 million increased 18% versus the prior year at actual currency, and 9% at constant currency. This growth occurred despite our Biosimilars business continuing to be negatively impacted by pricing pressure, as well as a slowdown in new treatments and reduced clinic capacity due to the COVID-19 pandemic. Despite the continued impact of COVID-19, we are now the leading anti-TNF provider in Europe. Total anti-CD20 revenue in the second quarter of $440 million decreased 8% versus the prior year. RITUXAN revenue decreased approximately 32% versus the prior year partially offset by a 23% increase in OCREVUS royalties. Second quarter gross margin was 83% of revenue, up slightly from 82% in the prior quarter, and down from 89% in Q2 2020. The reduction in gross margin versus the prior year was primarily due to the declines in TECFIDERA and RITUXAN, both of which are high margin products. In addition, Q2 2020 includes approximately $330 million in revenue related to the one-time license of certain manufacturing-related intellectual property, which was at 100% gross margin. Moving now to expenses in the balance sheet. Second quarter non-GAAP R&D expense was $585 million, which included approximately $50 million of upfront payments related to three business development deals; one with Bio-Thera for biosimilars, a second with Capsigen in gene therapy, and a third with Ginkgo to develop a novel gene therapy manufacturing platform. Second-quarter non-GAAP SG&A was $635 million, including approximately $115 million related to ADUHELM. Note that beginning in the second quarter, Eisai’s reimbursement of the US SG&A cost is reflected in the collaboration profit-sharing line. Second quarter collaboration profit sharing reduced our net operating expenses by $15 million, which includes a reimbursement of $85 million from Eisai related to the commercialization of ADUHELM in the US. In the second quarter of this year, our effective non-GAAP tax rate was approximately 16% versus approximately 19% in the second quarter of last year. Second quarter non-GAAP income attributable to non-controlling interest of $84 million includes a milestone payment of $100 million to neuroimmune related to the launch of ADUHELM in the US. Note that Eisai’s 45% share of this milestone payment was recognized in the collaboration profit sharing line. During the second quarter, we repurchased 1.6 million shares of the company’s common stock for $50 million. As of June 30, 2021, there was $3.6 billion remaining under the share repurchase program authorized in October of 2020. Our weighted average diluted share count was approximately 150 million shares for the second quarter. Non-GAAP diluted EPS in the first quarter was $5.68, which increased from $5.34 in Q1 of 2021. In the second quarter, we generated approximately $1.2 billion in cash flow from operations. Capital expenditures were $72 million in free cash flow was approximately $1.2 billion. We ended the quarter with $7.3 billion in debt, $4 billion in cash and marketable securities, and as a result, $3.3 billion in net debt. Additionally, our $1 billion revolving credit facility was undrawn as of the end of the quarter. Overall, we remain in a very strong financial position with significant cash and financial capacity to grow the business over the long term. Let me now turn to our updated full-year guidance for 2020. We are increasing our full-year 2021 revenue guidance from our previous range of $10.45 billion to $10.75 billion to a new range of $10.65 billion to $10.85 billion, primarily as a result of stronger performance in our MS franchise and higher OCREVUS royalties. We are maintaining our non-GAAP diluted EPS guidance of $17.50 to $19 notwithstanding the inclusion of the $125 million upfront payment related to our recently announced collaboration with InnoCare, which we expect to incur in Q3. This payment was not included in our previous guidance. Our capex guidance is unchanged at $375 million to $425 million. Our guidance continues to assume modest ADUHELM revenue in 2021 due to dosing titration, the need for sites to prepare to diagnose and treat patients, and the time that it will take to secure payer coverage. We continue to expect revenue to start ramping in 2022 and beyond. We expect continued erosion of both TECFIDERA and RITUXAN in the US and that the decreased revenue from these high-margin products will put pressure on our gross margin percentage. Note that our gross margin in the second quarter of 2021 was 83% of revenue, which reflects this dynamic. Full-year non-GAAP R&D expenses are expected to be between $2.45 billion and $2.55 billion. This updated R&D guidance range includes the expected $125 million upfront payment in the third quarter of 2021, which as I mentioned, was not included in our prior guidance. Full-year non-GAAP SG&A expenses are expected to be between $2.6 billion and $2.7 billion. This range is consistent with our previous guidance and continues to include an approximate $600 million ADUHELM investment. Of this amount, approximately $200 million would be reimbursable by Eisai and is reflected as collaboration profit sharing effective April 1 and not part of SG&A, of course, as the launch progresses, we will actively manage the pace of the spend. This guidance continues to reflect our expectation that both R&D and SG&A will be higher in the second half of the year than they were in the first half due to collaborations such as InnoCare, program readouts, and investments in ADUHELM. We expect that we will utilize a portion of the remaining share repurchase authorization of $3.6 billion throughout the year, although this will depend on a variety of factors including our business development activities. We assume that foreign exchange rates as of June 30, 2021, will remain in effect for the remainder of the year net of hedging activities. We have not included any impact from potential tax or healthcare reform or any impact from potential acquisitions or large business development transactions other than InnoCare in our guidance. So in closing, we were very pleased with our financial performance in the quarter. We remain in a very strong financial position with significant cash, modest leverage, and a business that generates significant free cash flow. We believe these dynamics position us well to continue to grow the business over the long-term. And now I’ll turn the call back over to Michel for his closing comments. Michel Vounatsos — Chief Executive Officer Thank you, Mike. It is an exciting time at Biogen and it is all about execution for the coming period. Our base MS, SMA, Biosimilars business is performing well demonstrating resilience despite competition. We have an incredible opportunity together with Eisai, and we are completely focused on operation execution for the global Launch of ADUHELM and hopefully soon lecanemab. We have positive Phase 3 data for the zuranolone in depression, and we are anxiously awaiting data for tofersen in SOD1 ALS. We believe we have a significant value creation opportunity ahead of us. We stand behind the clinical data for ADUHELM including the integrity of the approval process. Again, today, our top priority special access including for the underserved population and those more at risk due to ethnicity, and we are open to innovative approaches to ensure budget sustainability. In closing, I would like to thank our employees around the world who have demonstrated their dedication to making a positive impact on patients’ lives and all of the physicians, caregivers, and participants in our clinical development programs. Our ability to deliver medicines to patients could not be realized without their passion and commitment. We will now open the call for questions. Questions and Answers: Operator [Operator Instructions] Your first question comes from the line of Jay Olson from Oppenheimer. Jay Olson — Oppeheimer — Analyst Thank you for taking the question. It’s really been a rough ride for ADUHELM, and we appreciate you’re hanging in there. It seems like ever since March of 2019, Biogen has been the target of constant assault from the media and other groups, which obviously intensified on June 7 when ADUHELM was approved. What do you suppose it is about Alzheimer’s disease that causes the media to react so negatively to a drug that could actually help patients and their families and not treat them with the same respect it is rightly shown to victims of other diseases like cancer? Michel Vounatsos — Chief Executive Officer Thank you, Jay, for the great questions. We’ll get started, and I guess Al will add. So again it’s — you’re absolutely right in your question in your description of what we are exposed to, but we are not the ones suffering the most, it’s still the early days in the launch. It’s still the beginning. And whatever the motives of the controversy are, the one who are potentially misled, confused, denied health are the patients. If we look at the past experience, progress has to be made with the first step, and we can look at HIV, oncology, or MS, as Al said. And let me bring you back to early 1990s and HIV. The FDA approved a first product based on CD4 count and there was tremendous controversy. Then there were progress on viral load and then survival, and then 29 products or so were approved until today. And today, it’s managed HIV as a chronic disease. These came with tremendous investment in the field. And the importance of the biomarker is that it’s often present prior to the clinical symptoms. And this situation, this scenario, could very well be the same for AD. Where are those today who were fighting at the time, the biomarker-base approval for HIV therapy a few years back? The same applies to oncology. Al? Alfred Sandrock — Head of Research and Development Yeah, Jay. Thanks for the question. I do believe that the amyloid hypothesis, even before we got started with aducanumab, was a controversial topic and there were people lined up on both sides of the hypothesis, whether or not it’s true. And that’s — and people dug in their heels even before the aducanumab data was approved. And it’s unfortunate, and many of these drugs probably didn’t even engage target in the brain and yet we consider those negative results as meaningful. But the main thing, Jay, is that somewhere along the way, the patients got lost, and we’d like to bring the conversation back to the patients. And I highlighted the risks associated with the drug, but also the risks associated with not starting aducanumab in a timely fashion in the appropriate patients. Michel Vounatsos — Chief Executive Officer Next question. Operator We can now take the next question from the line of Michael Yee from Jefferies. Michael Yee — Jefferies — Analyst Thank you. Good morning, and I appreciate the comments and also the open letter from Al. Appreciate that. We had a question on early launch dynamics for ADUHELM. Maybe you can comment about the 325 sites, how those are going? Are they ready to dose patients, but more importantly, reimbursement access, specifically whether there’s anything you can do with CMS to strike a deal or anything like that because I think those are the two bottlenecks or dynamics that people are going to get through? Thank you. Michel Vounatsos — Chief Executive Officer Thanks for the question, Mike. I will start and then Alisha will give you much more granularity because she is closer to the operation. The background noise and the controversy are unfortunate and not helpful, mostly for the patients, and they are confusing. Nevertheless, the team is making a lot of progress and I’m very proud about the hard work. Overall, it’s a bit slower than what we assumed, but we’re making tremendous progress with some positives and some headwinds. Alisha? Alisha Alaimo — President, Biogen U.S. Organization Yes. Thank you, Michel. And thank you, Michael, for the question. And though it is very early in our launch, I am happy to share with you a few critical areas that we’ve been monitoring that will provide some insights into how the landscape is evolving. I do have quite a bit to share, however, so I would ask that you please bear with me as I think I need to make it through some of these key topics that I believe you’ll be very interested in. So let me first start with the patients. Physicians have definitely shared that since launch, there has been a significant amount of patient interest across the entire country. Not only from their existing diagnosed patients that they are aware of but also from new patient referrals from primary care physicians, which is also excellent. On the last call that we held, I did share that the primary focus of our team is to provide access to patients, by supporting sites as they build the capability and infrastructure to treat patients. So sites are just now taking that first step in their internal process, which is to complete their P&T committee reviews. The majority of the Alzheimer’s specialists that we have been talking to, have been really extremely highly engaged with both our commercial and our medical teams as they operationalized their sites. We have seen several sites move faster than anticipated, which is also very good news for us. And as Michel mentioned in his opening, we estimate that 35% of the ready sites have completed a P&T review with a positive outcome or they’ve indicated that they’re not requiring the step. As I’m sure you’ve also seen, a few centers have indicated that they will not provide access to ADUHELM for now. This is not only disappointing for patients, but also for the AD specialists at these centers who had actually planned to treat their patients with ADUHELM. So our teams are making every attempt to get in front of the decision makers in order to help them better understand the science and data. The AD specialists and the champions at these sites are also urging their sites to reconsider these decisions. Now remember though, many of these physicians can still prescribe the drug, and they have asked for support to find alternative sites where they can infuse their patients. We’ve also experienced during this time that patients and their families are not giving up, and they will seek new sites if necessary, and we’re also seeing that in the field. Our field teams share the sense of urgency of course. And as we’ve also said in a public statement, if any patient is denied access to care, we encourage them to contact our Biogen support services for help, and we will support them. Now, for the sites that have completed a positive P&T committee review or don’t require one, there are still several steps to operationalize the complex patient journey. You might have seen recently published several AD specialists recently said, building this infrastructure for the appropriate use of ADUHELM will require time, resources, and some creative planning. In fact, I recently just visited several sites, and what I saw, is consistent with what we’re seeing across the entire country. Sites are currently, right now, developing their protocols. They are re-engaging with their patients. They are considering or scheduling amyloid-beta confirmation. They also are ordering baseline MRIs. Then, they are discussing these results of the tests and making the treatment decision with their patients. This has clearly taken quite a bit of time. On our last call with you, we shared a program that we created with Labcorp and Mayo Clinic Labs to help physicians and patients access CSF diagnostic laboratory testing. We are also seeing a very strong interest in this program. In fact, we’ve already seen the first orders come in for both of our lab partners. Sites are also trying to gain clarity, as you said, on the reimbursement pathway. The decision by CMS to open an NCD analysis will help provide additional clarity to sites and healthcare providers. Now, while this analysis is underway, coverage decisions will be made by Regional Medicare Administrative Contractors, as you know is the MACs, and the Medicare Advantage plan. Based on precedent, we expect the MAC s and Medicare Advantage plans will provide coverage for ADUHELM. Now, while NCD for drugs are rare, and the only recent example of a drug NCD analysis, which was CAR-T, both MACs and Medicare Advantage plans continued to cover these — this product during the NCA process. We can also confirm that some Medicare Advantage plans have already approved prior authorizations for ADUHELM. For the MACs, due to the miscellaneous coding, it does take them a little bit of time to process the claims, but we are also aware that MACs have received claims already. So during the NCD analysis, we are actively working with sites to support patient access and reimbursement. Keep in mind, and as I witnessed across the various sites that I visited, each site will operationalize at different rates, which is why patient infusions will build gradually over the year as we’ve referenced. Though this process will take time, it was absolutely humbling to see how much effort and passion these physicians are putting into building the infrastructure to treat their patients and I’m really proud of how hard our teams are working to support these sites as they break new ground. Our teams are staying focused on Michael, we have a job to do on behalf of the AD community and we will not be distracted from that mission, no matter what we see. Thank you. Operator We can now take the next question from the line of Umer Raffat from Evercore. Umer Raffat — Evercore ISI — Analyst Hi, guys. Thanks for taking my question. I just wanted to focus on Alzheimer’s in two parts. First, I know there’s a lot of discussion on donanemab early filing, and I’m a bit puzzled why there’s a lack of any commentary on a potential early filing for BAN2401. And I realize Eisai’s lead on regulatory matters, but I also understand you guys are on the steering committee. Should we expect a BAN2401 filing in 2021? And secondly, Alisha, just to clarify, for the 1.6 million sales for aducanumab in the second quarter, how much of that was inventory? Because the sales number implies about 3,000 patients are on drug in June; is that right? Michael McDonnell — Chief Financial Officer Yeah. I’ll take the second part of that. It’s Mike speaking, Umer. Thanks for the question. Then Al will take the second one. We typically don’t get a lot into the channel dynamics, but it’s early days. We don’t have really clear visibility into patient metrics. For a drug like ADUHELM, it’s very early days and obviously, we’re pleased to see that we accomplished some shipments and we got the $1.6 million in sales done. But as those roll out to sites and translate into patient treatment, we’ll have more to say about how much is in the channel and how much is actually going into patient treatment. Michel Vounatsos — Chief Executive Officer So more to come on that. But you can assume that since we had only 2 weeks, a big chunk of it is basically a channel. Al? Alfred Sandrock — Head of Research and Development Well, yeah, Umer, as you know, we generally don’t comment on the content of our regulatory interactions. We do think it’s a very positive sign that Lecanemab was awarded Breakthrough Therapy designation, and I know my colleagues at Eisai and Biogen will do everything we can to expedite the regulatory pathway. Michel Vounatsos — Chief Executive Officer And I would like to add that it’s good to see followers with the same mechanism of action and a type of class effect that is so challenged. And as Biogen, we welcome new players and some of them being competition and some being partners. That’s good for the clinician, that’s good for the patient by definition. Operator We can now take the next question from the line of Marc Goodman from SV8 Leerink. Marc Goodman — SVB Leerink — Analyst Thanks. Good morning. Can you help us understand this NCD process? What are the scenarios of outcomes, and help explain to us what happens if there’s a negative scenario? What would be a negative scenario, and what can you do about a negative scenario? Thank you. Alisha Alaimo — President, Biogen U.S. Organization All right. Thank you, Marc, for the question. I’ll go ahead and answer that. While it’s too early in the process to speculate the outcome of this NCD analysis, I will provide some information for people to understand that there are five potential scenarios [Inaudible]. So first, there is a no coverage decision, while this is theoretically an outcome, in the last 15 years there are no examples of FDA approved drugs not being covered. So I think that that’s important to know. Second, there is coverage to indication or basically label, and third, you can have coverage with restrictions. So they can maybe give you structure around a specific population of patients, or they can limit prescribing, potentially the specialists, and then they’ll define who those specialists are, fourth, you can have coverage with evidence development, and lastly, it can be left to the MACs discretion. So importantly, once the national coverage decision is made, all of the MACs and Med Advantage plans must abide by the NCD, meaning the NCD will overrule any local or Medicare Advantage plan that is in place. That’s why we believe NCD will drive some consistency of access and clear reimbursement expectations, which is actually very good for everyone since one of the questions that people have are, Is this is going to be reimbursed. With that being said, if there were to be a negative outcome, though we can’t speculate on it, of course, in Biogen’s true form, we would want to obviously have a conversation on that and see what other outcome potentially could happen depending on additional data they might need. Marc Goodman — SVB Leerink — Analyst Thank you, Alicia. Operator We can now take the next question from Matthew Harrison from Morgan Stanley. Matthew Harrison — Morgan Stanley — Analyst Great. Good morning. Thanks for taking the question. I was hoping you could comment a little bit more about the current reimbursement dynamics that you’re seeing, and maybe specifically, if you could comment on whether or not you’re aware of anyone that’s been infused early in June with commercial drug, if they’ve actually been paid by a MAC or not. Thanks very much. Alisha Alaimo — President, Biogen U.S. Organization So thank you, Matthew, for the question. And unfortunately, I would love to give you an answer to that, but because it’s early days and because processing claims takes quite a bit of time, unfortunately, I can’t give you feedback on that yet because they are in the process. So as I said before, I know that the Medicare Advantage plans have approved the prior authorizations, which actually is a good thing that those are in place because it does give sites some reassurance that they will get reimbursed. But as for the MACs, we know that they do have claims, but because it’s under miscellaneous coding, it does take some time. So I would love to give you that answer, but we just don’t have it right now. Operator We can now take the next question from Phil Nadeau from Cowen & Company. Phil Nadeau — Cowen & Company — Analyst Growing, thanks for taking my question. Alicia during your remarks, your answer to Michael’s question, you mentioned that a lot of the centers are setting up a confirmation of beta-amyloid presence in the patients. I’m curious why they’re doing that. Are they taking that upon themselves to identify the patients or confirm the patients or are the diagnostic requirements being required by Medicare Advantage or the MACs? Alisha Alaimo — President, Biogen U.S. Organization Okay. Thank you for that question as well. Since PDUFA, we have continued to hear a high level of interest in our ABC program, which I talked about prior, which is the CSF testing, which you heard me talk about in my first answer. Now, the reason why there is a high interest is primarily due to three reasons. First, we’re hearing a consistent message from the AD experts and the clinicians, that they will align their patient selection to the patient population studied in our clinical trials. So 100% of patients in our clinical development program were confirmed for amyloid plaques. However, just so you also know, no one’s really come out with the policy yet, so I can’t actually tell you that there’s been a mandate on amyloid-beta confirmation, but we would expect that, potentially, those will be on the policies. Second, there’s currently no reimbursed test to confirm the presence of amyloid, in this program that we offer as a solution to provide access to patients who would otherwise lack the ability to pay for this lab test, let alone the cost of a PET scan. And as you know, for PET scanning third, there are still several areas of the country, in particular the Mountain West, Hawaii, and Alaska, where access to amyloid PET is not available due to the distribution of radio pharmacies and limited half-life of the radioligand. But I also said in our prior call that we do need both PET and CSF and we have seen these orders come in for both of our lab partners, and so we’re still working diligently with a coalition to see if we can get PET reimbursement through CMS. Operator We can now take the next question from Paul Matteis from Stifel. Paul Matteis — Stifel Nicolaus — Analyst Hey. Great. Thanks for taking my question. I wanted to ask, what liability does a physician expose his or herself to if prescribing aducanumab ahead of an NCD? For example, if the drug is prescribed to a patient that ends up not being covered under an NCD or they don’t follow certain — I guess prior [Inaudible] is not the right word, but I now guess to prior op criteria for selecting patients, is there a risk that the treatment center could owe money back to Medicare? And do you think this could have a slowing impact on uptake because of this broader uncertainty surrounding financial exposure? Thanks. Alisha Alaimo — President, Biogen U.S. Organization So I’ll go ahead and take that question. I think that this is really an insightful one because this is where a lot of the fear comes from I think in the centers where they want to know, are we going to be reimbursed? And the answer to that is, you’re not going to know until you try, and that’s why we’re now starting to see centers put through their claims and see how they get processed. However, when an NCD does come out, obviously, at that point in time, CMS is also going to have to make a decision as to what they would do with those patients if they did fall outside of the NCD criteria. So, unfortunately, we’re not going to know until we get to the end of that process. Michel Vounatsos — Chief Executive Officer And if we step back, I would say this type of confusion is something we have seen all the way. When we launched SPINRAZA, there was a same confusion and the controversy is not adding to the clarity and is making people being more fear, but we start to see things moving in the right direction. It’s a beginning of a process, we’re still at the early days. Operator We can now take the next question from Cory Kasimov of JPMorgan. Cory Kasimov — JPMorgan — Analyst Hey. Good morning, guys. Thank you for taking my question. I wanted to follow up on some of the market metrics you discussed. I’m wondering if you can disclose how many P&T reviews are outstanding and maybe more so the % that have come back negative? And are the public comments being made by some of the large influential sites like the Cleveland Clinic, having any sort of material influence on smaller community-type clinics that you picked up on, that may impact their early prescribing habits? Thank you. Michel Vounatsos — Chief Executive Officer Alisha? Alisha Alaimo — President, Biogen U.S. Organization Yeah. Okay, Cory. Thank you for the question. I think when it comes to the P&T committee, the stat that we gave you, the 35%, is actually the only stat that I can provide at this point in time, and this number changes on a daily basis. So P&T committee reviews are happening across the country. We’re obviously aware of the really big ones that become public, but some of the smaller ones that are in our targeted sites come in on daily basis, so I can’t actually provide that accurate number. However, for the second part of your question, I can’t comment on the decision-making process of the specific sites. However, I will say that we are disappointed that sites that have specialized in Alzheimer’s disease have indicated they will not provide access to ADUHELM for now. This is not only disappointing for patients, but also for the AD specialists at the sites of course. Each site will have their own specific process and decision-makers, so there’s not really a single reason, and even the reasons that you might see publicly are slightly different from what we actually hear directly which, again, causes even more confusion in the marketplace. And just so you know, we’re making every attempt to get in front of these decision-makers, to help them better understand the science and data. And also there have been specialists and champions at these sites to see if they can reconsider their current policy. But do remember that many of the physicians can still prescribe the product and have asked for support to find alternative sites so they can infuse their patients. With that being said, there are goi
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