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The date of Fannie Mae‘s conservatorship release has long been a topic of interest, and it’s become even more so of interest as the date approaches. Experts debate how much of an impact the coronavirus pandemic had on the date when Fannie Mae and Freddie Mac will be released from conservatorship. Moving toward Fannie Mae, Freddie […]...
Shares in Emergent BioSolutions Inc. (EBS) dropped 14% in Friday’s after-hours trading following the disclosure of two of its directors divesting shares.According to a SEC filing, Emergent Director Ronald Richard sold 6,572 shares on Wednesday at an average price of $87.514, for a total of about $575,142. Following the share sale Richard owns 4,269 shares. The stock rose 2.5% to $86.91 on Friday before dropping to $75 in post-market trading.In addition, Director Sue Bailey divested 5,322 shares at an average price of $87.503, generating about $465,691 from the sale. Bailey now still has 37,260 shares in the company.Earlier this month, Emergent BioSolutions announced that it is joining the U.S. government’s warp speed program in a public-private partnership for COVID-19 vaccine development and production. The task order valued at about $628 million is for rapid domestic manufacturing of leading COVID-19 vaccine candidates through 2021. The global life sciences company will provide molecule-to-market contract...
On Monday, June 1, 2020, Tesla Inc. (NASDAQ:TSLA)‘s stock price rose $63.10 to close at $898.10. Given that Tesla has 185.37 million shares outstanding, this jump in price represented an increase in market capitalization of $11.7 billion. To provide perspective, that number equals approximately 50% of Ford’s market capitalization. That leads one to suspect there must […]...
The healthcare sector has held up strong amid the global pandemic, yet not all names have escaped COVID-19's grasp. For several companies inhabiting the space, historically low levels of utilization for both traditional procedures and services as a result of COVID-19 and the expected mass consumption after restrictions are loosened have presented significant headwinds. It doesn’t help that unemployment also poses risks. Against this backdrop, investment firm Goldman Sachs took a deep dive into the space, hoping to get a better sense of where healthcare stocks stand during these unprecedented times. Given the uncertainty still hanging in the balance, the firm points out that investments in the sector aren’t without risk. That being said, it argues that some names are poised to deliver a strong performance in the long run. With this in mind, we wanted to take a closer look at two healthcare stocks that just received Goldman Sachs’ stamp...
U.S. utility PG&E Corp. (PCG) is said to be preparing a $11 billion debt-financing package as it embarks on a plan to exit from its bankruptcy, an investor involved with the company’s funding plan told Reuters on Friday. Shares jumped 5.5% to close at $12.52.According to George Schultze, founder of Schultze Asset Management, which invests in distressed securities, the debt financing plan, which will consist of high-yield bonds and term loans, is part of the company’s previously announced plan to raise as much as $27 billion in funding from future public offerings. It includes $4 billion of high-yield bonds and a $750 million term loan led by JPMorgan Chase & Co., Bloomberg said in a separate report.PG&E’s aims to come out of bankruptcy by June 30 so it will be eligible to receive a state-backed fund that would help utilities cope with the financial fallout suffered from wildfires.“While the company comes...
(Bloomberg) -- Libya’s biggest oilfield is gradually resuming production after a five-month shutdown as regional powers push to end the country’s civil war.The restart of the Sharara field in the southwest comes after a valve on a pipeline running to the port of Zawiya was opened on Friday, according to Ali El-Zeeb, the commander of the petroleum-facilities guards aligned with Libya’s internationally recognized government. Sharara was producing around 300,000 barrels a day before it shut in mid-January amid an offensive by Khalifa Haftar, who leads a rival military force based in the country’s east.The field’s resumption follows setbacks in recent weeks for Haftar’s forces. They’ve lost strongholds in western Libya after battling for more than a year to seize the capital, Tripoli, from the United Nations-backed government of Fayez al-Sarraj. Haftar accepted an Egyptian-sponsored cease-fire over the weekend.His supporters have blockaded major oil fields and ports since January, cutting output in...
AstraZeneca contacted Gilead last month and it did not provide the terms of any transaction, the report https://bloom.bg/3h2GU9e added. A spokeswoman for AstraZeneca said the company does comment on rumours or speculation. Gilead did not immediately respond to a request for comment....
