Mark Fields, Former Ford CEO and TPG Global Advisor, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Heidi Chung to discuss how the automotive industry is faring amid the coronavirus outbreak....
If the current state of the market dictates that the new normal involves almost daily swings of extreme volatility, the wild activity is considered normal by investors of biotech Sorrento Therapeutics (SRNE). Over the trailing twelve months, the cancer pain alleviation specialist has lost over 40% of its value, gained 60% back, before handing most of it back again. SRNE stock is down by 47% year-to-date. That hasn’t deterred H.C. Wainwright’s Ram Selvaraju from backing the small-cap biotech. The analyst recently reiterated a Buy rating on Sorrento, and attached a new $24 price target, reduced from $28, due to recent share dilution. Don’t let yourself get distraught by the reduced target. The new figure still implies Sorrento could add a truly astounding 1222% to the share price over the next year. (To watch Selvaraju’s track record, click here) So, what is behind the extremely optimistic valuation? There’s a simple answer. The...
Huang Chendong, who is in charge of Nio Inc - ADR's (NYSE: NIO) electric power engineering team, will leave his post by June 30, Chinese media outlet 36Kr reported, which said the news was confirmed by management. Chendong was promoted to the role of senior vice president in October and is reporting directly to CEO William Li.The 36Kr report also said, citing an insider, the speculated departure is related to recent reorganization at the electric power engineering department, which is primarily responsible for the battery control system, powertrain R&D and vehicle control hardware and software.The departure comes in the wake of an organizational reshuffle of the unit, as Nio looks to merge the powertrain R&D and development with XPT, a subsidiary of Nio that supplies powertrains and other parts to Nio.Nio is also planning to move over 200 employees at the power engineering business into different business lines, the report said.In...
Mandatory social distancing orders may be slowing the spread of COVID-19 in the Seattle area, home to the first coronavirus death in the U.S., but the city’s mayor, Jenny Durkan, warned against complacency, saying the Puget Sound region is still “a month or two away” from relaxing isolation rules....
Bob McNally of Rapidan Energy Group spoke on CNBC's "Squawk Box Asia" about crude oil and said he expects to see lower prices in April due to a collapse of demand for crude oil and an increase in supply for the commodity.April is going to be a cruel month in terms of oversupply, and things are pretty much baked in, said McNally. He is not confident about recovery in China, as he is concerned about the reliability of the data coming from China.On Sunday, Saudi Aramco is scheduled to announce its prices for barrels that are going to arrive in June, said McNally. He added the best hope is for a de-escalation in talks that could lead to lower production and exports in May and June.See more from Benzinga * Cramer Weighs In On Peloton, Planet Fitness And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved....
T-Mobile's long-time Chief Executive John Legere is stepping down from his position effective immediately as part of the deal. Legere was originally set to leave at the end of April, with Mike Sievert, T-Mobile's president, as his successor. Legere will serve on T-Mobile's board of directors....
