Pittige prijs voor anti virus middel Gilead
In een open brief zegt Gilead Sciences Chairman & CEO Dan O'Day dat de prijs voor het antiviral remdesivir, wat tot nu toe het enige medicijn is dat werd goedgekeurd door de FDA als nood middel voor gebruik tegen COVID-19, per injectie 390 dollar zal kosten ofwel 2340 dollar voor een kuur van 5 dagen ... Best een pittige prijs maar analisten dachten dat het nog duurder zou worden ...
Het bedrijf voert de productie verder op en verwacht dat zijn investering in de ontwikkeling en productie van remdesivir tegen het einde van het jaar meer dan 1 miljard dollar zal bedragen.In de derde wereld heeft Gilead deals met generieke fabrikanten om behandeling tegen aanzienlijk lagere kosten mogelijk te maken.
|USA||USA: JOLTs Vacatures (Jun)||16:00||5,889M||5,371M||Actueel: 5,889M Verwacht: Vorige: 5,371M|
• Microsoft faces complex technical challenges in TikTok carveout
Microsoft bid to carve out parts of TikTok from its Chinese owner ByteDance will be a technically complex endeavor that could test the patience of President Donald Trump's administration, according to sources familiar with the setup.
• Pelosi, Mnuchin open door to narrower COVID-19 aid through 2020
U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Sunday said they were open to restarting COVID-19 aid talks, after weeks of failed negotiations prompted President Donald Trump to take executive actions that Democrats argued would do little to ease Americans' financial distress.
• PREVIEW-Top U.S. mall operator Simon faces pandemic pain
Surging COVID-19 infections in big states like California, Texas and Florida are scaring shoppers away from newly reopened malls, dealing a blow to an industry that was on the ropes even before the pandemic began.
• Coronavirus punishes Warren Buffett, as Berkshire Hathaway takes big writedown
Berkshire Hathaway on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft parts unit, as the coronavirus pandemic caused widespread pain at Warren Buffett's conglomerate.
• Roper Technologies in $5.5 billion bid for Vertafore -sources
Roper Technologies, a U.S. provider of software to several industries, is in talks to acquire private equity-owned insurance software vendor Vertafore Inc for close to $5.5 billion, people familiar with the matter said on Sunday.
BEFORE THE BELL
Major U.S. stock index futures edged higher as investors looked to executive orders from President Donald Trump over the weekend to support the economy. European equities were in the green after shares of energy majors rose as crude prices gained, buoyed by hopes of rising demand. Asian shares ended mostly higher, supported by an improvement in Chinese factory data. The dollar index was up as U.S.-China tensions escalated, while spot gold prices dipped. Occidental Petroleum and Simon Property report their earnings after the closing bell.
STOCKS TO WATCH
• Barrick Gold Corp (GOLD). The Canadian miner beat estimates for quarterly profit, benefiting from a rise in demand for the safe-haven metal driven by uncertainty about the global economy. Barrick said it realized an average gold price of $1,725 per ounce in the quarter, a 31% jump from a year earlier. The company's adjusted profit rose to $415 million, or 23 cents per share, in the second quarter ended June 30, from $154 million, or 9 cents per share, a year earlier. Analysts were expecting the company to report a profit of 19 cents per share.
• Berkshire Hathaway Inc (BRKa). The company on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft parts unit, as the coronavirus pandemic caused widespread pain at Warren Buffett's conglomerate. Despite the writedown, Berkshire said second-quarter net income surged 87% because of gains in stock investments such as Apple as markets rebounded. Operating profit fell 10%, cushioned by a temporary bump at the Geico auto insurer, as the pandemic caused "relatively minor to severe" damage to most of Berkshire's more than 90 operating businesses. Second-quarter operating profit fell to $5.53 billion, or about $3,463 per Class A share, from $6.14 billion, or $3,757 per share, a year earlier. Revenue fell 11% to $56.8 billion, despite gains in some businesses including Duracell batteries, which rose 16%.
In Other News
• Amazon.com Inc (AMZN) & Simon Property Group Inc (SPG). The mall operator has been in talks with Amazon.com about turning some of its department-store sites into Amazon fulfillment centers, The Wall Street Journal reported on Sunday. The two companies have explored converting retail space formerly occupied by J.C. Penney and Sears into Amazon distribution centers, while in some cases, Simon and Amazon explored buying out occupied space from the retailers, the report said, citing sources.
• Barclays Plc (BCS). The company is being probed by the United Kingdom's privacy watchdog, the Information Commissioner's Office (ICO), over allegations that the British bank spied on its staff, the agency said on Sunday. Earlier this year, Barclays said it was changing a system that the bank was piloting, which tracked how employees spent their time at work, after critical media reports accused the bank of spying on its staff. "People expect that they can keep their personal lives private and that they are also entitled to a degree of privacy in the workplace," an ICO spokesman said.
• CoreLogic Inc (CLGX). The company said on Sunday that it has called a special meeting of shareholders on Nov 17 to vote to replace up to nine of the company's directors with nominees identified by Senator Investment Group LP and Cannae Holdings Inc. The company's investors said in July that they would seek to replace nine of the company's directors after it quashed their $7 billion takeover bid.
• Eastman Kodak Co (KODK). The company's $765 million loan agreement with the U.S. government to produce pharmaceutical ingredients has been put on hold due to "recent allegations of wrongdoing," the U.S. International Development Finance Corp (DFC) said. Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan. "Recent allegations of wrongdoing raise serious concerns," DFC said. "We will not proceed any further unless these allegations are cleared," the DFC said. It was referring to a letter of interest it signed on July 28 with Kodak.
• General Dynamics Corp (GD). Bath Iron Works, a unit of General Dynamics, and a union reached an agreement to end a strike by shipyard workers in Bath, Maine, the defense contractor and the union said on Saturday. About 4,300 workers represented by the International Association of Machinists and Aerospace Workers (IAM) Local S6 have been on strike since June 22, General Dynamics said. A local media report suggested that the dispute was centered on subcontractors, seniority and work rules rather than on wages and benefits, with the proposed contract giving shipbuilders annual wage increases of 3% over three years.
• Microsoft Corp (MSFT). The company's bid to carve out parts of TikTok from its Chinese owner ByteDance will be a technically complex endeavor that could test the patience of President Donald Trump's administration, according to sources familiar with the setup. Trump has given Microsoft until Sept. 15 to put together a blueprint for an acquisition that safeguards the personal data of Americans stored on the short-video app, and he has issued an order to ban it if there is no deal by then. Microsoft is negotiating a transition period that will give it time to ringfence TikTok technologically from ByteDance after they agree to a deal, Reuters reported on Aug. 2.
• Roper Technologies Inc (ROP). The company is in talks to acquire private equity-owned insurance software vendor Vertafore for close to $5.5 billion, people familiar with the matter said on Sunday. The deal would be Roper's largest acquisition to date. It would signal that the highly acquisitive company has not given up on its expansion plans in the wake of the COVID-19 pandemic, which has caused some of its customers to review their spending plans.
• Twitter Inc (TWTR). The company has approached TikTok's Chinese owner ByteDance to express interest in acquiring the U.S. operations of the video-sharing app, two people familiar with the matter told Reuters, as experts raised doubts over Twitter's ability to put together financing for a potential deal. It is far from certain that Twitter would be able to outbid Microsoft and complete such a transformative deal in the 45 days that U.S. President Donald Trump has given ByteDance to agree to a sale, the sources said on Saturday.
• United Parcel Service Inc (UPS). The company plans to impose big fees on large shippers sending significantly more packages through its system during the holiday season amid the coronavirus pandemic, according to a new fee schedule released on Friday. UPS said the new fees could total as much as $3 a package for ground shipments and other lower-priced shipping options and up to $4 a package for air shipments bound for residences. UPS said the surcharges will apply from mid-November until mid-January and are designed to apply only to customers who ship more than 25,000 packages a week. The charges escalate as customers send 110%, 200% and 300% more shipments than their average weekly shipping volume in February.
Oil giants' production cuts come to 1 million bpd as they post massive writedowns
The world's five largest oil companies collectively cut the value of their assets by nearly $50 billion in the second quarter, and slashed production rates as the coronavirus pandemic caused a drastic fall in fuel prices and demand.
• Applied Optoelectronics Inc (AAOI). JPMorgan raises target price to $14 from $9, after the company's second-quarter revenue beat expectations, led by improving demand trends in data center and telecom.
• Dish Network Corp (DISH). Cowen and Company raises target price to $58 from $55, after the company's second-quarter results beat estimates, and delivered strong free cash flow.
• KB Home (KBH). Barclays raises target price to $39 from $34, after the company provided an intraquarter update last week.
• Lyft Inc (LYFT). Jefferies cuts target price to $40 from $50, saying recovery in ridehailing services is progressing slower than expected.
• Tripadvisor Inc (TRIP). Jefferies raises target price to $16 from $13, reflecting on the company's better than expected second-quarter results, and citing improvements in traffic and revenue in July.
ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1000 (approx.) Employment Trends for Jul: Prior 49.00
1000 JOLTS job openings for Jun: Prior 5.397 mln
COMPANIES REPORTING RESULTS
Occidental Petroleum Corp (OXY). Expected Q2 loss of $1.68 per share
PPL Corp (PPL). Expected Q2 earnings of 55 cents per share
Royal Caribbean Cruises Ltd (RCL). Expected Q2 loss of $4.82 per share
Simon Property Group Inc (SPG). Expected Q2 earnings of 98 cents per share
CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Douyu International Holdings Ltd (DOYU). Q2 earnings conference call
0830 Black Knight Inc (BKI). Q2 earnings conference call
0830 Marriott International Inc (MAR). Q2 earnings conference call
0830 Reata Pharmaceuticals Inc (RETA). Q2 earnings conference call
0830 Schrodinger Inc (SDGR). Q2 earnings conference call
0900 ON Semiconductor Corp (ON). Q2 earnings conference call
1000 Duke Energy Corp (DUK). Q2 earnings conference call
1000 Liberty Media Corp (FWONA). Q2 earnings conference call
1000 Royal Caribbean Cruises Ltd (RCL). Q2 earnings conference call
1100 PPL Corp (PPL). Q2 earnings conference call
1115 Gci Liberty Inc (GLIBA). Q2 earnings conference call
1115 Liberty Broadband Corp (LBRDA). Q2 earnings conference call
1630 Novavax Inc (NVAX). Q2 earnings conference call
1630 ZoomInfo Technologies Inc (ZI). Q2 earnings conference call
1700 Qualys Inc (QLYS). Q2 earnings conference call
1700 Simon Property Group Inc (SPG). Q2 earnings conference call
1700 Sunrun Inc (RUN). Q2 earnings conference call
1730 Qurate Retail Inc (QRTEA). Q2 earnings conference call
Carlyle Group Inc (CG). Amount $0.25
Constellation Brands Inc (STZ). Amount $0.75
Constellation Brands Inc (STZb). Amount $0.68
Equitable Holdings Inc (EQH). Amount $0.17
HanesBrands Inc (HBI). Amount $0.15
Paccar Inc (PCAR). Amount $0.32
Skyworks Solutions Inc (SWKS). Amount $0.50