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A week ago, Abbott Laboratories (NYSE:ABT) came out with a strong set of second-quarter numbers that could potentially......
(Bloomberg) -- When Joe Biden released his climate plan last week, the Democratic candidate for president emphasized one overarching goal—and it wasn’t the reduction of greenhouse gases. Instead, he unequivocally linked broad climate action to employment.“When Donald Trump thinks about climate change, the only word he can muster is ‘hoax,’” Biden said in a speech unveiling the plan. “When I think about climate change, the word I think of is ‘jobs.’” His proposal aims to create 1 million openings in the auto sector, in part by investing in electric vehicle charging, plus another 1 million positions retrofitting homes for energy efficiency and weather resilience. The word “union” appears 32 times in the plan’s 15-page outline. A campaign promise is not policy, but the rhetoric and substance of Biden’s proposal represented two noteworthy developments. As a candidate, he’s signaling a bigger commitment to addressing climate change through policies targeting racial and economic inequality. At the same time, Biden is moving away from the...
(Bloomberg) -- The Mt Arthur coal mine in Australia is one of the world’s best. It’s got plenty of reserves and the low-cost supplies produced there are easily shipped to Southeast Asia, where there’s insatiable appetite for the fuel.Yet owner BHP Group has a problem: It’s struggling to find a buyer willing to pay the right price.The world’s biggest mining company’s unsuccessful effort over the past year to offload the asset highlights the predicament producers are in. To bow to mounting investor pressure to exit the most polluting fuel, BHP may need to sell a profitable mine for much less than it believes it’s worth.Activists have for years said that miners could face a cliff-edge moment by holding onto assets for too long -- and that now seems to be happening in thermal coal. While the mines generate plenty of cash and will have customers for years to come, investors increasingly...
In a letter to Vice President Mike Pence and Secretary of Health and Human Services (HHS) Alex Azar, the Infectious Diseases Society of America (IDSA) expressed concern that developed countries are relying on a single manufacturer for the only antiviral so far shown to be effective against COVID-19, the disease caused by the coronavirus. Remdesivir is made by Gilead Sciences Inc, which has committed to supplying 500,000 treatment courses of the drug to HHS for distribution to U.S. hospitals in July, August and September....
Any risk-tolerant investor will be hard pressed to find a penny stock that better embodies the description than Greek oil tanker operator Top Ships (TOPS). Shares are going for $0.11 apiece, after a multi-year ride to the bottom. In 2020 alone, the stock is down by 86% so far. Adding insult to injury, the only analyst on Wall Street keeping a close eye on the vessel operator recently downgraded his rating.Maxim analyst Tate Sullivan dropped his rating from Buy to Hold and also removed his price target, citing “potential for delays at shipyards delivering five new ships to TOPS in 2021” as the reason for the downbeat assessment. (To watch Sullivan’s track record, click here)The analyst further said, “While COVID-19 may continue to impact global shipping and shipyard activity in 2021, we note shipyards periodically have newbuild delivery delays even during more predictable operating environments. In addition to potential delays in...
Stocks go up, stocks go down, you can't explain that...Or maybe you can, if the stock happen to be a biotech that just flunked a clinical trial. Which leads us nicely to Celsion Corporation (CLSN). Or not so nicely if you happen to be an investor.Shares cratered by a dispiriting 68% this week after the company announced that the independent Data Monitoring Committee (DMC) recommended it prematurely bring to an end its Phase 3 OPTIMA study evaluating ThermoDox in patients with primary liver cancer.Based on an interim safety and efficacy analysis, the DMC concluded the study was unlikely to achieve the primary endpoint after exceeding a futility threshold value.With Celsion still assessing the data, management have outlined 3 possible paths forward: “1) continuation of the study through final analysis, 2) discontinuation of the study for futility, and lastly 3) assessment of the study following some additional events (n=8–10).”For Oppenheimer analyst Hartag Singh, the...
