Celgene Slides After FDA Refuses Filing For Potential Multiple Sclerosis Drug
Shares of Celgene (CELG) are sliding after the company announced that it has received a Refusal to File letter from the Food and Drug Administration regarding its New Drug Application for ozanimod. Following the news, SunTrust analyst Yatin Suneja downgraded the stock to Hold as ozanimod was center to his “bull thesis to re-accelerate growth.” […]
Gunmaker Stocks Dip After Dick’s Discontinues Sale Of Assault Rifles
Shares of U.S.-based gunmakers Sturm, Ruger & Co. (RGR – Free Report) and American Outdoor Brands (AOBC – Free Report) dipped in morning trading Wednesday after Dick’s Sporting Goods (DKS – Free Report) announced that it will discontinue the sale of assault-style rifles at its stores. The sporting goods retailer said Wednesday that the company was “deeply disturbed” by the recent […]
Sluggish Tape And Possibly An End To Celgene Woes?
Sluggish Tape In Biotech at Mid-Resistance Levels Bad News From Celgene (CELG) Hurts Sentiment Down 16% YTD Technicals Look Weak with IBB 7% Off January Highs Biotech stocks were weak again today exacerbated by still more bad news from Celgene (CELG) down over 8% on news that the FDA refused to review their Ozanimod product for […]
GBP/USD Price Plummets Into Critical Support Zone
The British Pound is down nearly 4% off the January high with the price now approaching key near-term confluence support. The focus is on a reaction here with a break lower risking substantial losses for Cable. GBP/USD DAILY PRICE CHART Technical Outlook: Sterling broke below the weekly opening-range yesterday with the decline now approaching key confluence support at 1.3765/89– […]
Rally Pause When Earnings Season Ends?
After almost 2 years of poor earnings performance going into the 2016 elections, the S&P 500 Index earnings per share (EPS) has grown strongly in each of the last 5 reporting periods ending March 1st 2018.The current reports indicate that nearly 75% of companies beat both earnings and sales estimates, the highest quarter of surprises […]
Economic Evolution
When you become an investor, you gain the freedom to choose. You get to move beyond a life bound by minimum wage, governments & unions, economic classes, nepotism, favoritism and cronyism. You get to move beyond faulty wealth redistribution. You start to see a better way to redistribute wealth: Do it yourself. A third of […]
GE: Turnarounds Take Time
Turnarounds take a long time to be worked out. There is no better case of this than what we are seeing with General Electric (GE). GE stock is seemingly making new lows every single day. The depth of the existing problems now being uncovered at General Electric signals the extent of the changes needed to be made […]
Short Demand For HY ETFs Hits Record
There’s been a lot of discussion about HY ETFs of late and it’s not hard to understand why. As a reminder, junk bond funds saw massive outflows earlier this month in the wake of the market turmoil that also sent investors scurrying from IG funds (as rate jitters hit home) and, briefly, from equities. You might recall the following from […]
Data Distortions One Way Or Another
Back in October, we noted the likely coming of two important distortions in global economic data. The first was here at home in the form of Mother Nature. The other was over in China where Communist officials were gathering as they always do in their five-year intervals. That meant, potentially: In the US our economic […]
Is Bitcoin Really A Leading Indicator For The Entire Market?
At the start of February, just before the great vol-quake, we highlighted that a curious correlation was emerging between the VIX – and therefore the broader market as would be confirmed just days later – and bitcoin. We referenced a recent note from Deutsche Bank according to which “cryptocurrencies are closely watched by retail investors, affecting their […]
