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Biotech stocks made a steady recovery over the week ended Oct. 2, although Friday's weakness trimmed some of the gains of the week.Companies working on anti-COVID-19 antibody treatments were in the news during the week. Sorrento Therapeutics Inc. (NASDAQ: SRNE) announced a second more potent preclinical antibody candidate, while Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) released preliminary readout for its antibody cocktail in treating non-hospitalized COVID-19 patients.On the FDA approval front, Eton Pharmaceuticals Inc. (NASDAQ: ETON) received the nod for its Alkindi Sprinkle as a hormone replacement therapy for treating adrenocortical insufficiency in children under 17 years of age. Mesoblast (NASDAQ: MESO), however, was in for a disappointment. Its stem cell therapy for acute graft versus host disease was turned down by the regulatory agency.Zosano Pharma Corp. (NASDAQ: ZSAN) shares wilted on a deficiency review letter for the NDA for its migraine patch. Selecta Biosciences Inc. (NASDAQ: SELB), which reported an adverse...
The at-home consumption of alcohol has surged since the COVID-19 pandemic. However, even after the easing of lockdown restrictions, on-premise alcohol consumption at bars and restaurants remains weak.The US beer industry alone is expected to lose 651,000 jobs by the end of 2020 according to a report by the Beer Institute, Brewers Association, the National Beer Wholesalers Association, and the American Beverage Licensees. The report also states that the COVID-19 pandemic will result in a decline of over $22 billion in beer sales this year.In these challenging times, we will analyze the performance of two of the leading players in the US alcoholic beverage industry—Constellation Brands and Molson Coors and use the TipRanks Stock Comparison tool to see which stock offers a better investment opportunity.Constellation Brands (STZ)Constellation Brands is a beer, wine and spirits producer and sells popular imported beer brands Corona and Modelo in the US market. In recent times,...
Every investor in Corbus Pharmaceuticals Holdings, Inc. (NASDAQ:CRBP) should be aware of the most powerful shareholder......
Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken "preliminary exchanges" with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing. “The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities," the filing to the Hong Kong Stock Exchange said. SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses....
* Insider buying can be an encouraging signal for potential investors when markets face uncertainty. * Some insiders were making return trips to the buy window last week. * Some of those purchases were made by C-level executives. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.Insiders continued to add shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.Last week, new director Brett Icahn purchased more than 202,700 Icahn Enterprises LP (NASDAQ: IEP) depositary units at $49.32 apiece. That totaled around $10 million. Those units were sold by board chair Carl Icahn, father of that director. Note...
Another stock market crash is unlikely, because investors know what to expect. It might be a great time to bet on rebound stocks like Enbridge (TSX:ENB)(NYSE:ENB). The post 3 Reasons the Stock Market Won’t Crash Despite the 2nd Wave appeared first on The Motley Fool Canada....
The week began with the departure of activist investor Nelson Peltz from Aurora Cannabis Inc. (NYSE: ACB), just 18 months after being hired as a strategic advisor.Aurora and Peltz "have concluded their relationship," an Aurora spokesperson confirmed. "This change is a direct result of Mr. Peltz's decision to pursue other commitments, and the company appreciates his valuable contributions."The announcement came just days after the Edmonton, Canada-based company reported a CA$3.3 billion ($2.5 billion) loss for the 2020 fiscal year. Shares of Aurora Cannabis closed the week down 8.7%.Fortunately, ETFs didn't take such a big hit. Over the five trading days of the week: * The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 0.7% * The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was down 1.5% * The Cannabis ETF (NYSE: THCX): was down 1% * The Amplify Seymour Cannabis ETF (NYSE: CNBS): closed the week flat. * The SPDR S&P 500 ETF...
