• Is Remdesivir a Disappointment?
    Motley Fool

    Is Remdesivir a Disappointment?

    Many people who are closely following developments in the COVID-19 pandemic are familiar with remdesivir. Gilead Sciences' (NASDAQ: GILD) investigational antiviral drug has been seen by many as a promising treatment option for the coronavirus. In February, Bruce Aylward of the World Health Organization said, "There is only one drug right now that we think may have real efficacy and that's remdesivir."

  • CDC Plans Dual Flu-Covid Test; Latin America Surge: Virus Update
    Bloomberg

    CDC Plans Dual Flu-Covid Test; Latin America Surge: Virus Update

    (Bloomberg) -- The U.S. is developing a test that can check for seasonal influenza and Covid-19 infections at the same time, a tool that could help health authorities more efficiently determine whether there is a second wave of coronavirus.Iran reported its highest number of daily cases, while Mexico and Brazil each had a record increase in deaths.The European Central Bank intensified its response to the coronavirus recession with a bigger-than-anticipated increase to its emergency bond-buying program, and data showed Americans are still filing for unemployment benefits even as businesses reopen.China will ease its ban on foreign airlines from June 8 and lessen quarantine requirements for official and business travelers, while Japan debated scaling back next year’s Summer Olympics.Key Developments:Virus Tracker: Cases pass 6.5 million; deaths exceed 386,000Swedish faith in country’s Covid-19 strategy sinksRoche gets emergency approval for test for severe casesU.K. minister’s virus test sets Up tracing challenge for JohnsonMerkel stimulus seals German shift from frugality to largessSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. For a look back at this week’s top stories from QuickTake, click here.CDC Developing Dual Flu-Coronavirus Test (10:27 a.m. NY)The U.S. Centers for Disease Control and Prevention is developing a test that can check for seasonal influenza and Covid-19 infections at the same time, the agency’s director said in testimony to Congress.Symptoms of the two illnesses are similar, and when seasonal influenza season arrives later this year it will be important for public-health authorities and health workers to be able to differentiate between the two viruses. Such a test would help determine whether Covid-19 infections are experiencing a second wave, or if patients are showing up with normal seasonal flu.CDC Director Robert Redfield announced the plan in prepared testimony to Congress ahead of a hearing on the agency’s budget later Thursday in Washington.Top German Banking Regulator Warns on Defaults (9:37 a.m. NY)Banks need to brace for a second wave of loan defaults next year, Germany’s top financial regulator said on Thursday, adding that the continent’s lenders will see the bulk of the challenges posed by Covid in the next two quarters. The longer-term effects of the crisis will be drawn out and could lead to another peak in 2021, Bafin President Felix Hufeld said at a virtual event hosted by Bloomberg.EBay Raises Outlook as Business Moves Online (9:26 a.m. NY)EBay Inc. raised its forecast for revenue and earnings in the current quarter as people flock to the digital marketplace amid the pandemic.Moderna Names New CFO at Pivotal Moment (8:50 a.m. NY)Moderna Inc. named a new chief financial officer as its coronavirus vaccine moved ahead in wider testing. David Meline takes over the top finance role as the company leads the race to develop a shot. Moderna has also come under scrutiny as executives have sold millions of dollars worth of the firm’s highly valued shares.U.S. Jobless Claims Persist (8:40 a.m. NY)As business reopenings picked up nationwide, Americans filed nearly 2 million applications for unemployment benefits last week, reflecting a slowing -- though far from a halt -- in job losses.Initial jobless claims for regular state programs totaled 1.88 million in the week ended May 30, Labor Department figures showed Thursday, down from 2.13 million the prior week. It was the first reading below 2 million since the coronavirus-related layoffs began en masse in mid-March.‘Social Bubbles’ Can Limit Spread: Oxford Study (8:37 a.m. NY)The best way to reduce the spread of the coronavirus post-lockdown is for people to limit their interactions to a few repeated contacts, or so-called social bubbles, research from the University of Oxford showed. Strategically reducing contacts can lower infection rates and flatten the curve considerably more than simple social distancing can, according to the study published in the journal Nature Human Behavior.ECB Unveils Bigger-Than-Expected Boost to Bond Buying (7:46 a.m. NY)The European Central Bank intensified its response to the coronavirus recession with a bigger-than-anticipated increase to its emergency bond-buying program.At a virtual meeting on Thursday, President Christine Lagarde and colleagues decided to expand the amount of purchases by 600 billion euros ($675 billion) and extended their duration until at least the end of June 2021. The vast majority of economists surveyed by Bloomberg last week expected policy makers to boost buying by 500 billion euros.Iran Records Highest Number of Daily Cases (6:16 a.m. NY)Iran reported the largest number of daily cases as it entered a second wave of the pandemic. The 3,574 positive tests exceeded the previous record, in March, by almost 400. The country now has a total of 164,270 infections and 8,071 deaths.Malaysia Reports Biggest Daily Increase in Cases (5:13 p.m. HK)Malaysia reported the steepest daily increase in cases since the pandemic started. The country added 227 new positive results, bringing the total to 8,247.German Envoy Sees Rapid Deal on EU Recovery Plan (5:13 p.m. HK)The European Union will soon reach agreement on a proposed 750 billion euro ($840 billion) plan to recover from the pandemic, said Michael Clauss, Germany’s ambassador to the bloc. Member states realize that a deal is urgent, he said.Danske, Telenor Allow Remote Work (3:55 p.m. HK)Staff at Danske Bank A/S will allow staff to work from home permanently a couple of times a week after Denmark’s biggest bank found that customer satisfaction and productivity improved during the country’s lockdown. Norwegian telecommunications company Telenor ASA will lets its roughly 20,000 employees work remotely as much as they want in the future.Israel Cancels Knesset Meetings (3:04 p.m. HK)Israel’s Knesset canceled meetings and told non-essential workers to stay home after a lawmaker tested positive for coronavirus. The country recorded a surge in infections in recent days following the easing of restrictions and the reopening of most of the economy.Japan to Grant Foreign Residents Re-Entry (7:52 p.m. HK)Japan will allow some resident foreigners to re-enter the country on humanitarian grounds. A notice on the Justice Ministry’s website says permission to land may be granted “depending on the individual situation if there are special exceptional circumstances, particularly such as when there are circumstances that require humanitarian consideration.”Swedish Faith in Covid Strategy Plunges (2:32 p.m. HK)Swedish citizens’ confidence in the government’s handling of the pandemic fell to less than half the population, as the scientist behind the strategy acknowledged having made mistakes. A poll showed an 18 percentage point slump in support for the authorities’ response, including the controversial decision to leave much of society open even as swaths of the world shut down.Tokyo Finds 28 New Cases of Coronavirus: NHK (1:58 p.m. HK)The city found 28 new infections Thursday, Japan’s public broadcaster NHK reported, citing an unidentified local government official. Tokyo had earlier issued a warning for its residents to be more vigilant against the virus as authorities see signs of a second wave.Roche Test Gets Emergency FDA Approval (1:34 p.m. HK)Roche Holding AG got emergency U.S. Food and Drug Administration approval for a test that can identify Covid-19 patients who are at high risk of needing mechanical ventilation. Within 18 minutes, the test can identify patients who have been confirmed to carry the virus who may need intubation, the company said.Germany’s Cases Fall, Infection Rate Declines (1:26 p.m. HK)Germany recorded a small decline in new cases, while the infection rate fell further below the key threshold of 1.0. There were 242 new cases in the 24 hours through Thursday morning, bringing the total to 184,121, according to data from Johns Hopkins University. That compares with 285 infections the previous day and almost 7,000 at the peak of the pandemic in late March.The government is trying to keep the figure below 1.0 to prevent exponential growth in the number of cases and a second wave of infections. Chancellor Angela Merkel’s coalition earlier agreed to a 130 billion-euro ($146 billion) stimulus package to help Europe’s biggest economy recover from the coronavirus crisis. The deal includes tax relief for companies, money for families, car-sales incentives and aid to municipalities.Singapore Says Testing Migrant Workers to Take Time (12:16 p.m. HK)Testing all the migrant workers in the Southeast Asian financial center could take some time and go on until August or September, Singapore Health Minister Gan Kim Yong said in parliament. An outbreak among low-wage migrant workers staying in cramped dormitories has led the city-state to record one of the largest virus tallies in Asia.Brazil, Mexico Report Record Daily Deaths (9:18 a.m. HK)Brazil reported a record number of daily deaths from Covid-19 as the pandemic continued to spread in Latin America’s largest nation. It had 1,349 new fatalities on Wednesday, bringing the total to 32,548. Brazil also recorded 28,633 new cases, pushing the total to 584,016, behind only the U.S. The nation of 210 million people has become an epicenter of the virus, and health experts say the peak of the outbreak is still to come.Mexico also registered a record daily rise of 1,092 deaths as President Andres Manuel Lopez Obrador resumed traveling across the country. Total deaths reached 11,729, according to data released by the Health Ministry on Wednesday night. The country now has the seventh-deadliest outbreak worldwide.China Reports One Imported Case (7:55 a.m. HK)China’s only additional coronavirus case on June 3 was reported in Guangdong province, according to a statement from its National Health Commission. Four so-called asymptomatic cases were also reported, with all of them found in people who had come from abroad, it said.The country, where the virus first emerged late last year, now has 326 asymptomatic cases under medical observation. It has 83,022 total cases, with its death toll standing at 4,634.Japan Mulls Scaling Back Olympics: Yomiuri (7:22 a.m. HK)The country is weighing options to scale back the delayed games -- set to be held in summer 2021 -- including limiting spectators and reducing the size of ceremonies, Yomiuri reported, citing several unidentified government and organizing committee officials.It’s also considering mandatory testing for all athletes, officials and spectators, the outlet said, as well as limiting the movement of competitors to the Olympic Village. The report cited an unidentified government official as saying avoiding cancellation, which would be the the “worst case scenario,” was of the utmost importance.(An earlier version corrected the spelling of Danske Bank and the scope of increase in Iran cases.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Signs That Your Trading Will Ruin Your Retirement - June 04, 2020
    Zacks

    Signs That Your Trading Will Ruin Your Retirement - June 04, 2020

    From understanding your risk tolerance to maintaining emotional control, achieving your retirement goals takes a much different investing approach than regular stock trading.

  • After Plummeting Over 30%, Are Arcturus Therapeutics Shares Still a Good Buy?
    Motley Fool

    After Plummeting Over 30%, Are Arcturus Therapeutics Shares Still a Good Buy?

    Arcturus Therapeutics' (NASDAQ: ARCT) stock saw deep losses on May 27, in part because of spillover from news about patients in Moderna's (NASDAQ: MRNA) COVID-19 vaccine trial experiencing adverse reactions. Because both companies are working on COVID-19 vaccines, bad news about one affected the other. After these losses, biotech investors are wondering whether it's time to buy on the dip and buckle up for the long haul with Arcturus, or whether it would be more prudent to cut their losses before they deepen.

  • 50-Day Rally Spells Good Times for Wall Street: 5 Solid Buys
    Zacks

    50-Day Rally Spells Good Times for Wall Street: 5 Solid Buys

    With Wall Street notching a 50-day rally amid signs of the economic slump bottoming out and history hinting further gains, investing in stocks that are poised to gain in the near term seems judicious.

  • Better Buy: Bristol Myers Squibb vs. Gilead Sciences
    Motley Fool

    Better Buy: Bristol Myers Squibb vs. Gilead Sciences

    There are few names more well-known in the biopharmaceutical world than Bristol Myers Squibb (NYSE: BMY) and Gilead Sciences (NASDAQ: GILD). Gilead has gained increasing attention in the news of late. In early May, the U.S. Food and Drug Administration (FDA) authorized the emergency use of the company's antiviral medication remdesivir to treat critically ill COVID-19 patients.

  • Filgotinib Demonstrates Durable Efficacy and Consistent Safety Profile at 52 Weeks in FINCH 1 and 3 Studies in Rheumatoid Arthritis
    Business Wire

    Filgotinib Demonstrates Durable Efficacy and Consistent Safety Profile at 52 Weeks in FINCH 1 and 3 Studies in Rheumatoid Arthritis

    Gilead Sciences, Inc. (Nasdaq: GILD) and Galapagos NV (Euronext & Nasdaq: GLPG) today announced Week 52 results from the Phase 3 FINCH 1 and FINCH 3 studies of filgotinib, an investigational, oral, selective JAK1 inhibitor, in adults with moderately to severely active rheumatoid arthritis (RA). The data demonstrate sustained efficacy and a consistent safety profile with up to 52 weeks of filgotinib treatment across RA patient populations. The new data are among 15 abstracts on filgotinib in RA that will be presented at the European League Against Rheumatism, EULAR, European E-Congress of Rheumatology 2020.

  • Report: Trump Administration Picks 5 Coronavirus Vaccine Candidates to Support
    Motley Fool

    Report: Trump Administration Picks 5 Coronavirus Vaccine Candidates to Support

    The White House reportedly plans to route extra federal funds and other assistance to the companies developing those potential SARS-CoV-2 vaccines.

  • Complete Results from Second Pivotal Monotherapy Study of Abrocitinib Published in JAMA Dermatology
    Business Wire

    Complete Results from Second Pivotal Monotherapy Study of Abrocitinib Published in JAMA Dermatology

    Pfizer Inc. (NYSE: PFE) announced today that JAMA Dermatology has published complete results from the second Phase 3 monotherapy pivotal study (JADE MONO-2) of abrocitinib, an investigational oral once-daily Janus kinase 1 (JAK1) inhibitor, in patients aged 12 and older with moderate to severe atopic dermatitis (AD). Consistent with the first Phase 3 monotherapy study (JADE MONO-1), both doses of abrocitinib met all co-primary and key secondary endpoints and were generally well tolerated.

  • Why Inovio Pharmaceuticals Stock Sank Today
    Motley Fool

    Why Inovio Pharmaceuticals Stock Sank Today

    Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 12.8% lower as of 3:27 p.m. EDT on Wednesday. Inovio's shares slipped earlier in the day following comments that Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID), made in an interview with JAMA editor Howard Bauchner. Fauci stated that he was concerned that COVID-19 vaccines likely won't provide a long period of immunity.

  • Why Novavax Is Plunging Today
    Motley Fool

    Why Novavax Is Plunging Today

    One of the country’s top COVID-19 experts made some discouraging comments regarding a potential vaccine for the coronavirus.

  • Sanofi to run consultations over restart of hydroxychloroquine trials
    Reuters

    Sanofi to run consultations over restart of hydroxychloroquine trials

    Sanofi said on Wednesday it would review available information and run consultations before deciding whether to enroll patients again for its COVID-19-related hydroxychloroquine trials. The French drugmaker said on May 29 it had stopped recruiting new COVID-19 subjects for two clinical trials on hydroxychloroquine until concerns about safety are cleared up following a decision by the World Health Organization to pause a large trial. "We will review available information and run consultations in the coming days to reassess our position," a spokesman with Sanofi said.

  • Gilead's remdesivir could see $7 billion in annual sales on stockpiling boost – analyst
    Reuters

    Gilead's remdesivir could see $7 billion in annual sales on stockpiling boost – analyst

    Remdesivir has shown improvement in COVID-19 patients in clinical trials and has been cleared for emergency use in severely ill patients in the United States, India and South Korea. SVB Leerink analyst Geoffrey Porges, who upgraded his rating on Gilead's shares to "outperform", estimates remdesivir to be priced at $5,000 per course in the United States, $4,000 per course in Europe and around $2,000 in other markets.

  • Is AbbVie (ABBV) Stock Undervalued Right Now?
    Zacks

    Is AbbVie (ABBV) Stock Undervalued Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • No growth, no problem! 3 high dividend stocks where I would invest
    Fool.co.uk

    No growth, no problem! 3 high dividend stocks where I would invest

    As a growth investor, I don't see much in the way of future growth in the economy. Maybe it’s time to buy good dividend stocks that are cheap instead.The post No growth, no problem! 3 high dividend stocks where I would invest appeared first on The Motley Fool UK.

  • Why Moderna Shares Rose 33.7% in May
    Motley Fool

    Why Moderna Shares Rose 33.7% in May

    Shares of Moderna (NASDAQ: MRNA) climbed 33.7% in May, according to data provided by S&P Global Market Intelligence, after the company reported encouraging data from its investigational coronavirus vaccine's phase 1 trial. Across all participants in two dosage groups, Moderna said, levels of binding antibodies were at or above levels seen in people who have recovered from the virus. Information on neutralizing antibodies (those that block infection) were only available for eight people.

  • The Zacks Analyst Blog Highlights: Pfizer, Comcast, salesforce.com, Costco Wholesale and BHP Group
    Zacks

    The Zacks Analyst Blog Highlights: Pfizer, Comcast, salesforce.com, Costco Wholesale and BHP Group

    The Zacks Analyst Blog Highlights: Pfizer, Comcast, salesforce.com, Costco Wholesale and BHP Group

  • Gilead Upgraded With Covid Sales Seen Reaching $7.7 Billion
    Bloomberg

    Gilead Upgraded With Covid Sales Seen Reaching $7.7 Billion

    (Bloomberg) -- A formerly cautious analyst at SVB Leerink has changed his tune on the potential sales of Gilead Sciences Inc.’s Covid-19 treatment, remdesivir.Even bullish Wall Street analysts have been critical of Gilead’s chances of making a profit from the treatment, which received an emergency use designation from U.S. regulators in May. Public advocates have argued against drug and vaccine makers making any profit from the global pandemic but SVB Leerink analyst Geoffrey Porges is now forecasting that sales of remdesivir may reach $7.7 billion in 2022.Less than two months ago, Porges had said investors were giving a “generous amount of credit” for a drug that likely won’t be sold for a profit.The latest change is reason enough for Porges to raise his rating on Gilead shares to outperform from market perform, and increase his price target to $94, just $3 shy of the current Street high target. The new target, up from $85 previously, also includes more than $1 billion in sales from potential cancer medicines in a partnership with Arcus Biosciences Inc.“A valuation of $94+ is realistic, perhaps as soon as the company declares its price for commercial sale of remdesivir,” Porges wrote in a note to clients. He expects commercial sales of the drug to be priced at roughly $5,000 per course of treatment in the U.S., and $4,000 in Europe. Gilead, which has said it’s donating 1.5 million vials of the medicine globally, has probably already doled out that supply and will have to announce a price soon, according to the analyst.Clinicians are still awaiting more detailed results from the drug, which has shown a modest benefit in some studies. Meanwhile, biotechnology companies including Moderna Inc. are racing to develop a vaccine. Porges’s view, however, is that “SARS-nCoV2 is not going away, or being eliminated by vaccination.”Gilead shares rose as much as 1.5% in Wednesday trading. The stock has struggled since remdesivir received its authorization, and is down about 8% from May 1.(Updates shares in final paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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