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UK Economy Improves by Little Means

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The Gross Domestic Product reported yesterday that United Kingdom economy is improved by 1 perect in Q3 and about 0.2 percent of the growth is the result of Olympic. The beer glugging and pizza scoffing and their temporary staffs and the shoppers attributed to the economy during the period of recession.

The Prime Minister was in a good mood after listening to the report and at his questions, David Cameron could barely contain himself as he assured ‘good news’ would be coming soon. Despite the fact that No 10 has since said the Prime Minister was talking in his general speech, there was a definite Trigger fish bounce to David Cameron. All that can ruin his so called good-mood is for the London Mayor, Boris Johnson to evoke the Prime Minister that the Olympics took place in his mansion. George Osborne, the Chancellor was too careful, while issuing a reminder – “although it’s not that safe to completely depend upon the Government, the reminder is worryingly correct”.

The current economy is improving where it’s heading to, is still unclear. How long it’ll take to reach to get back to pre-recession levels is yet to be calculated, forget the pizza or bunting index, think high-end drinks or luxury handbags instead.

What’s significant about the Gross Domestic Product figures, despite the fact they grew, was that they were a rare result in an otherwise unwelcoming week.Scotland’s Confederation Industry reported a severe decline in result and new orders. Mulberry, British handbag maker reported a noteworthy profit last week, after the manufacturer issued disappointing international sales in the last 2 quarters and due to that, its share market fell. However, it isn’t the only one high-end goods company to feel cold wind blasting in from Asia, but also Burberry too faced the same. The Herald reported that maker of Chivas Regal, Pernod Ricard is seeing moderate growth in Asia, while Chinese whisky sale is declining.

Since the 2008 great recessions, the Western companies have been increasingly dependent upon the Asian markets, especially the county like China, where the economy is still rising.  Whether it is posh Bond Street or Paisley, jobs often depend upon parents in Bangkok or Shanghai purchasing Alexa bags for their children. Chinese wealth is soaring and its market consumption is also improving; according to GDP, it is now as high as $7.2 trillion. The growth in Thailand, Indonesia, Malaysia, and Philippines was lesser than estimated.

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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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