We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
COVID-19 has provided opportunity for a number of healthcare companies to take the baton and run with it. One of the names to force its way into public consciousness has been vaccine specialist Novavax (NVAX). The company was quick off the mark to begin developing a vaccine and has positioned itself at the forefront of the fight against COVID-19. Accordingly, the share price has shot up by a massive 345% year-to-date.But there's more potential upside from here, argues H.C. Wainwright analyst Vernon Bernardino.“We believe Novavax’ identification of NVX-CoV2373 as its lead candidate vaccine against SARS-CoV-2, supports our view of Novavax as a leading vaccine developer. Recall that the genetic sequence of SARS-CoV-2 had only become available in late January 2020. On April 8, 2020, Novavax announced that NVX-CoV2373 showed it was highly immunogenic in animal models,” Bernardino said.Although still at the preclinical stage, Bernardino argues the results validate Novavax's “promising approach.”...
It is no secret, US airplane giant Boeing (BA) has suffered badly at the hands of COVID-19, with one piece of bad news following the other. But with Boeing shares still down by 60% year-to-date, might now be the right time to pull the trigger on BA stock?Not quite, says Canaccord’s Kenneth Herbert. The 5-star analyst believes there are too many variables to consider and expects Boeing’s commercial services business to drop by more than 50% in 2Q20 and “likely at very depressed levels for the rest of 2020.”It should come as no surprise, then, that Herbert rates Boeing shares a Hold. In fact, Herbert had maintained his Hold rating on the stock since 2016. The good news for new investors is that Herbert's $175 price target implies a 40% upside from current levels. (To watch Herbert’s track record, click here)Boeing has a lot of issues to contend with, as highlighted...
Disney (DIS) reported second-quarter sales that rose over last year, but earnings dropped and missed consensus expectations as the coronavirus pandemic ravaged some of the company’s most profitable business segments....
(Bloomberg) -- Pinterest Inc. shares slumped after the company said the coronavirus outbreak hurt advertisers and triggered a revenue decline in April.The online search and discovery company also did not issue guidance for the rest of the year. It tossed out its previous 2020 forecast last month.“The spread of COVID-19 has certainly had an impact on our business and the businesses of our advertisers, but we remain optimistic about the future,” Todd Morgenfeld, chief financial officer of Pinterest, said in a statement.April revenue fell 8% from a year earlier, Morgenfeld told analysts on a conference call. “Things like food and beverage, health and beauty had relatively better demand in the early part of this crisis,” he added. “But even those advertisers began to experience supply chain difficulties that had various impacts on their appetite for spend.”Pinterest shares dropped 18% in extended trading, after closing at $20.81 in New York earlier on...
(Bloomberg) -- Norwegian Cruise Line Holdings Ltd. sold a larger-than-expected $675 million of junk bonds that have a pledge on the company’s vessels and islands as it seeks to raise as much as $2 billion from a broader financing to survive the travel industry shutdown.The cruise line operator priced the four-year secured bonds, which were increased from $600 million, at a coupon of 12.25% and a discount of 99 cents on the dollar for an all-in yield of 12.575%, according to people with knowledge of the transaction. The bond was earlier offered with a coupon of 12.25% to 12.5% with a discount between 98.5 to 99, the people said, asking not to be identified because the details are private.A representative for Goldman Sachs Group Inc., which is leading the sale, declined to comment.The financing also includes $650 million of exchangeable notes, a public offering of $350 million ordinary shares and a...
