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Business Appear to be OK with the Present Economic Condition in Southeast Michigan

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Most of the business people operating in the region of Southeast Michigan are presently contended with the economic growth condition of the state, mainly because they have a strong belief that it can’t become even worse; however they are actually not as confident with regard to the economic growth of the nation as a whole, particularly because of the final result of the most recent United States Presidential voting.

A most recent study authorized by the well-known “Honigman Miller Schwartz and Cohn LLP”, and Crain’s Detroit Business, and performed by the famous Epic MRA Corporation that is based in Lansing discovered that nearly 69-percent of all those business people examined strongly believed that the economic growth of the state has already reached its lowermost position, and is beginning to advance.

That actually led to nearly 57-percentage of respondents uttering that they were contended with the present economic condition of the state, with almost 42-percent declaring that they were discontented. Those reviewed were more optimistic regarding the economic health of the state than regarding the nation’s economic health, with only 43-percent of the business people believing that the economy of the nation has reached its bottom level, and is presently advancing.

In fact, there were nearly 29-percent of respondents who felt that the nation’s economy has already reached at its bottom most level, but would persist to get even worse, and nearly 24-percent of them told that it was at the bottom level, and it is not going to improve. The random study of nearly 3000 business entrepreneurs, managers, or officers functioning in the parts of Southern Michigan was actually performed from 13th to 16th November 2012 in order to determine response to the recent Presidential election outcome, and the impact it would possibly have on their everyday business activities.

The recent analysis has been said to have a possible error margin of almost 5.7 plus or minus percentage points. The President of the well-known Seger-Elvekrog, Scott Horsburgh, recently informed that based on the result of the United States 2012 Presidential Voting, he is presently less enthusiastic regarding the future growth of business organizations in the region, because he strongly believes that the strategies of Mitt Romney, the Republican Party Presidential contestant, would have reinforced the economic growth of America in a much better manner.

But, he added that the nation’s automotive business has noticeably revived, and at present more and more consumers are purchasing vehicles again, which has actually simulated a bottoming out.

Business

Top 3 Gainers: Zynga (NASDAQ:ZNGA), Eros International (NYSE:EROS), Borqs Technologies’ (BRQS)

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Zynga (NASDAQ:ZNGA) is up 2.5% after Benchmark reiterated its Buy rating in a look-ahead at Q2 earnings. The firm’s expecting a beat and solid guidance for Q3, and it’s raising its guidance for the fiscal year.

Tailwinds from the pandemic won’t dissipate easily, Benchmark suggests, and the videogame maker’s acquisition of Peak (and with it new “forever franchises” in Toon Blast and Toy Blast) will drive audience, bookings, margins and free cash flow, it says. The firm has an $11 price target, now implying 14% upside.

Eros International (NYSE:EROS) is up 5.8% today, making up the last week’s lost ground, after news that its streaming service Eros Now is partnering with Sony India (SNE +2.3%).

That will mean Eros Now’s app is pre-installed on selected Sony smart televisions in India, along with availability on a large base of existing models (Bravia E series and newer).

The country over the past year has seen a 25% growth in demand for smart TVs, fueled by overall industry growth of 15%, to a record 15M units/year.

Borqs Technologies’ (BRQS) personal safety tracker sees strong market with increased orders from the electronics retail chain in the US.

The boost in product demand comes ahead coronavirus pandemic that provides company to expect delivery of 250K units this year. It reflects over 3x the volume delivered in 2019, the year of its launch.

Borqs’ mobile personal safety devices designed particularly for senior citizens come with panic button, location tracking, and fall detection.

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Biotech

Biotech movers: Pfizer Inc. (PFE), Celgene Corporation (CELG)

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Pfizer Inc. (PFE) said on Thursday it received a request for documents as part of a U.S. investigation related to quality issues involving the manufacture of auto-injectors at its Meridian Medical Technologies site.

Pfizer, in a regulatory filing, said it would be producing records in response to the civil investigative demand from the U.S. Attorney’s office for the Southern District of New York.

Why ASDN Could Massively Outperform PFE in 2019

Meridian, a unit of Pfizer that manufactures EpiPen injectors used to deliver an emergency allergy antidote, has been hit by a series of manufacturing problems in recent years. Mylan NV, which markets EpiPens, has recalled tens of thousands of the devices after complaints that some had failed to activate.

Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene Corporation (CELG), the biggest acquisition announced so far this year.

Why Investors Are Calling ASDN the CELG of the Sky!

The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about $32 billion in fresh debt to Bristol’s balance sheet while assuming $20 billion in Celgene’s debt, the companies said at the time. After factoring in debt, the acquisition was the largest health-care deal on record, according to data compiled by Refinitiv.

Now, hedge funds Wellington Management and Starboard Value say the deal doesn’t sit well with them. Bristol has sent executives to New York to meet with institutional investors several times over the last two weeks and met with investors in Boston on Wednesday and Thursday, according to a person who briefed on the meetings.

Bristol-Myers declined to comment.

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Biotech

Big Losers: Corbus Pharmaceuticals Holdings, Inc. (CRBP), Petróleo Brasileiro S.A. – Petrobras (PBR)

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Corbus Pharmaceuticals Holdings, Inc. (CRBP)’s shares slumped as much as 16% to $6.94 on huge volume. The stock has been showing intense sell off suddenly after a bearish article on seekingalph.com by Alpha Exposure.

The article stated that Corbus has ties to investors convicted of or alleged to have committed securities fraud. We believe lenabasum has failed its major trials in SSc and CF. Lenabasum was also denied Breakthrough Therapy Designation in SSc. We believe lenabasum will fail in its pivotal SSc and Phase 2b CF trials. We are short Corbus with a price target of $0.50.

Wow the future of Autonomous flight is finally here with the launch of ASDN passenger drone Elroy

Petróleo Brasileiro S.A. – Petrobras (PBR) is expanding its ambitious divestment program and has “bold” plans for sales, the Brazilian state-run oil company’s chief executive said after the firm posted its first annual profit in five years.

On a conference call with analysts to discuss fourth-quarter results, CEO Roberto Castello Branco said selling non-core assets will be key to deleveraging.

Petrobras, as the company is known, can reduce its ratio of net debt to earnings before interest, taxes, depreciation and amortization, or EBITDA, to 1.5 or even to 1, he added.

The University of Chicago-educated CEO, who took the reins in early January, has long been vocal about the need to slim down the sprawling firm and focus on core activities such as exploration and production. Thursday’s comments were some of his most assertive on the matter.

Why Investors Are Calling ASDN the TPC of the Sky!

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