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Renaissance Macro Research Head of Policy Steve Pavlick joins Yahoo Finance to discuss the impact of the current political landscape and run up to the 2020 presidential election on the markets....
(Bloomberg) -- Alcoa Corp. shares headed for the biggest decline since mid-2018 after the top U.S. aluminum producer reported a wider-than-expected loss and said it sees global output of the metal outstripping demand this year.The forecast for a surplus adds urgency to the company’s cost-cutting drive after a fourth straight quarterly loss. The oversupply of metal will be fueled by production in China, according to the company’s forecast.Aluminum prices have slipped amid trade tensions and a slowdown in manufacturing worldwide, and Alcoa’s forecast suggests further declines may be in store. The Pittsburgh-based company has been taking steps to counter weak prices by shedding assets and getting leaner, saying in October it would sell non-core businesses to generate as much as $1 billion in net proceeds.“China overcapacity remains a problem for the aluminum market with no change on the horizon,” Jefferies LLC analysts including Christopher LaFemina said in a note. “While Alcoa...
(Bloomberg) -- Bombardier Inc. fell the most on record after warning of disappointing fourth-quarter sales and revealing that it may exit a joint venture with Airbus SE that makes the A220 jetliner, potentially triggering a major writedown.A ramp-up in A220 production will require additional cash investment, pushing back the break-even point and generating lower returns across the lifetime of the project, Bombardier said in a statement Thursday. The value of the A220 joint venture is likely to be diminished and the amount of any accounting charge will be disclosed with full 2019 results next month, the company said.The potential end of Bombardier’s involvement in the A220 program is combining with new stumbles in the company’s rail business to undermine a once-great name in manufacturing -- just when investors thought they were poised to reap the rewards of a difficult turnaround effort. Walking away from the A220 would close the book on...
(Bloomberg Opinion) -- Today’s Food and Drug Administration moves much faster than it used to. That may not always be a good thing. A review of drug approvals by the agency from researchers at Harvard Medical School released Tuesday found that the FDA is approving drugs more rapidly with weaker evidence than it did in the past. That can be beneficial when it leads to needed medicines getting to market quickly, and I believe that’s the agency’s intent. As the study’s authors highlight, however, this emphasis on speed and flexibility could be eroding standards. It may be time for a gut check.The gold standard for demonstrating efficacy — and the surest way of winning drug approval — is to demonstrate success in large, well-controlled studies that result in a hard outcome. But there are faster ways to get to market. In 1992, Congress created the accelerated approval program, which can green light medicines based on “surrogate” endpoints that predict rather than confirm benefit for patients, or those that have shown a shorter-term...
Tesla shares are falling today after Morgan Stanley lowered its rating on the electric car maker. Yahoo Finance's Pras Subramanian, Julie Hyman, Adam Shapiro and Andy Serwer discuss with Oliver Pursche, Bruderman Asset Management....
Is Stryker Corporation (NYSE:SYK) a good dividend stock? How can we tell? Dividend paying companies with growing......
(Bloomberg Opinion) -- White House counsel Pat Cipollone will reportedly lead the team that represents President Donald Trump in the Senate impeachment trial. Superficially, this may sound logical. The opposite is true. It’s highly problematic for Cipollone to represent Trump in the Senate.For starters, Cipollone is the author of the letter to executive branch employees directing them not to cooperate with the House’s impeachment inquiry. Cipollone’s Oct. 8 letter told the House of Representatives that its impeachment inquiry was illegitimate and that Trump and the executive branch wouldn’t participate in it. The letter was written “on behalf of” Trump. This letter was widely received as legally preposterous and constitutionally wrong. But that’s not the worst of it. That letter became the basis for the House’s article of impeachment of Trump for obstruction of Congress.Cipollone’s conduct is therefore directly at issue in the trial. It’s almost as if Rudy Giuliani was representing Trump, despite...
