Despite the obvious uncertainties involving the present pandemic, several publicly traded companies have at least enjoyed some positive sentiment, including Chinese electric vehicle maker Nio (NYSE:NIO). However, one sector that has been consistently ugly is oil. Seemingly, it has a one-way ticket to perdition, which doesn't necessarily bode well for Nio stock.Source: Sundry Photography / Shutterstock.com After all, one of the biggest factors for consumers in deciding whether to go the electric route is cost savings. This decision process was much easier several years ago when oil prices kept climbing to new heights. However, with "black gold" now trading hands at rock-bottom levels, the incentive to purchase EVs diminishes.If that wasn't bad enough for Nio stock, the situation doesn't appear to have a favorable resolution in sight. According to the Wall Street Journal, Saudi Arabia is prepared to flood the world with cheap oil thanks to a massive surge in production.InvestorPlace...
Healthcare companies are racing to find a cure for coronavirus. CytoDyn CEO & President Nader Pourhassan joins Yahoo Finance’s On The Move panel to discuss how Leronlimab plans to combat COVID-19....
(Bloomberg) -- The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.S. shale field to seek protection from creditors.Whiting Petroleum Corp., facing more than a quarter-billion dollar debt maturity, filed for bankruptcy Wednesday, perhaps the most illustrious of the shale explorers thus far humbled by an unforgiving rout in every corner of the oil business.American crude has surrendered two-thirds of its value this year and just closed out its worst-ever quarterly performance. As many as 70% of the nation’s 6,000 oil explorers eventually may go under, according to Mizuho Securites USA LLC analyst Paul Sankey, as the twin blows of Covid-19 and a Russia-Saudi price war destroy producers like Whiting.Once the largest oil producer in North Dakota’s Bakken shale region, Whiting lost money in four of the last five years and spiraled deeper into debt just as the...
The images of eerie empty streets, along with the sight of masked civilians roaming around, all add to the sense that we are currently on the set of a dystopian sci-fi movie. Add into the mix the race among pharmaceutical companies to develop a COVID-19 vaccine or treatment, and the drama is further enhanced. But as we all know, this is no screenplay, but current daily life around the globe. Vying for a starring role in this real-life drama is biotech Moderna (MRNA). The messenger RNA specialist is developing mRNA-1273, a vaccine against COVID-19 currently in Phase 1 testing, and has said there could be immunogenicity data available in June or July. The company is also manufacturing supply and expanding production capacity at its Norwood facility for a Phase 2 trial involving elderly subjects. Following a conversation with CEO Stéphane Bancel regarding the vaccine’s progress, Needham’s Alan Carr said, “Management is not offering guidance with respect to development timelines or regulatory requirements, but Moderna is...
It hasn’t been a good week for biotech Amarin (AMRN). On Monday, a District of Nevada judge ruled against the company and in favor of two generic drug makers seeking to establish their own versions of Amarin’s treatment for high triglycerides, Vascepa, thereby, making mincemeat of Amarin’s six patent claims. Judge Du’s ruling caught the Street somewhat by surprise, as it was widely expected Amarin would prevail in the case. Alas, investors were not impressed and on Tuesday, the stock was sent tumbling by a merciless 70%. The next step, naturally, involves an appeal. With this in mind, H.C. Wainwright’s Andrew Fein, a long standing Amarin bull, sought clarity on the probability of a successful turnaround following the biotech’s appeal. After consulting the firm’s patent lawyer about Judge Du’s record, the statistics don’t look particularly promising. Judge Du is a designated patent judge, has officiated a large number of cases, and...
