Month: January 2017

Momenta Stock Rises 4% On Corporate Update

Momenta Pharmaceuticals Inc. shares rose 3.6% in pre-market trade Friday after the company provided a corporate update, including a Thursday announcement about a research collaboration with CSL Limited , from which Momenta will receive $50 million. The company’s latest update said that its biosimilar for Humira, an anti-inflammatory that is the world’s top-selling treatment, could be up for regulatory submission in mid-2017.

Acadia Pharmaceuticals’ Alzheimer’s Data Raises Some Questions

However, the trial results do raise some important questions regarding the durability of Nuplazid’s benefit and the likelihood of a phase 3 success. Can Nuplazid deliver an important win for Acadia in this tough-to-treat disease? In this clip from The Motley Fool’s Industry Focus: Healthcare podcast, analyst Kristine Harjes is joined by contributor Todd Campbell to discuss the trial results and highlight what should be on investors’ minds as Acadia Pharmaceuticals preps for phase 3 studies.

3 Top Balance Transfer Credit Cards for 2017

If you’re starting 2017 with credit card debt, now’s a great time to decide to pay it down and stop giving away your money to credit card companies. If you’re struggling to make a dent in your balances or simply want to pay them off faster, a 0% APR balance transfer could be a smart move for you.

Yahoo deletes tweet that included racial slur

Yahoo Finance says it accidentally tweeted out a racial epithet when promoting a story about the cost of President-elect Donald Trump’s plans to increase the size of the U.S. Navy. The headline for the story on Yahoo Finance is, “Trump Wants a Much Bigger Navy: Here’s How Much It’ll Cost.”

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If you simply buy — without the use of any margin — the entire stock market via an index fund, it’s all but impossible to lose all of your money. Indeed, an index fund represents an ownership interest in a well-diversified group of U.S. businesses; the risk of total loss is vanishingly small.

Rpt: Frontier Airlines Hires Banks to Plan IPO

Low-cost carrier Frontier Airlines is preparing for an initial public offering and has hired banks to plan the debut, The New York Times reported, citing people familiar with the matter. The Denver-based airline is aiming to raise about $500 million, valuing the company at about $2 billion, NYT said, citing sources.

Carlyle Said to Explore Sale of Vitamin Maker Nature’s Bounty

Carlyle Group LP is exploring a sale of nutritional-supplements maker Nature’s Bounty Co., whose brands include “MET-Rx” and “Pure Protein,” people with knowledge of the matter said. The private equity firm has held talks with potential advisers about selling the U.S. company, formerly known as NBTY Inc., according to the people.

Marchionne Enters Final Push to Free Fiat Chrysler From Debt

Sergio Marchionne enters the final stretch of his career at Fiat Chrysler Automobiles NV with a daunting mission: prove wrong the doubters who question how he can make the carmaker’s $5.29 billion in debt disappear by the time he steps down in two years. His strategy update will be a closely watched presentation next week at the Detroit motor show, particularly as Fiat Chrysler won’t be unveiling new models at the annual event.

Cheating Death Can Cost $200,000 as Cancer Tops Pharma Sales

Years before becoming a top cancer specialist, Eric Winer used to save money on his own medical care by talking U.S. pharmacists into giving him expired treatments for free. Winer, who has a bleeding disorder known as hemophilia, knew the drugs would still work for a brief time after the official use-by date.

Strike will not stop BA passenger trips

British Airways says all customers will be able to fly to their destinations on Tuesday 10 January and Wednesday 11 January, despite proposed industrial action by Unite union cabin crew. The dispute concerns about 4,000 staff – some 15% of BA’s cabin crew – who have joined the airline since 2010 on “mixed fleet” contracts and who do not feel they are paid enough.

Snow Storm Takes Aim at U.S. South, Southeast

A winter storm packing heavy snow, sleet and freezing rain is on track for the U.S. South and Southeast where roads may become impassable and power outages are possible starting on Friday and into the weekend, forecasters said. A large swath of the United States, from Louisiana northeast through the Appalachian Mountains and into southern Pennsylvania, is expected to get as much as 8 inches of snow with 1 inch of sleet, according to the National Weather Service.

Oil Prices Dip on Lingering Supply Cut Doubts

Oil prices dipped on Friday over lingering doubts that some producers might not implement announced production cuts in an attempt to curb global oversupply. Brent crude futures, the benchmark for international oil prices, were trading at $56.76 per barrel at 0756 GMT, down 13 cents from their close the previous day.

Poor December Retail Sales Could Spell Trouble for U.K. Retailer Earnings

The festive season was not jubilant for many retailers in the U.K. with industry figures on Friday showing sales were down in December. This could spell bad news for retailers who face an uncertain 2017 as the country prepares to start negotiations to leave the European Union and a possible spending squeeze due to inflation caused by the falling value in the pound since the June vote.

European Stocks Open Lower as Investors Prep for U.S. Jobs Report

European stocks opened lower Friday as investors adopted a defensive stance ahead of key U.S. employment data amid a pullback in the dollar and increasing questions over the recent ‘Trump Rally’. The region-wide Stoxx 600 index, the broadest measure of European shares, slipped 0.2% by 08:30 GMT as benchmark indices drifted modestly lower across the board.

Morgan Stanley Said to Cut Equities Traders’ Bonus Pool Up to 4%

Morgan Stanley, Wall Street’s biggest stock-trading firm by revenue, is cutting its global bonus pool for the equities division by as much as 4 percent after the industry’s results flagged last year, according to people with knowledge of the plans. The firm, which is set to pay annual bonuses to employees next month, has been fine-tuning calculations for pay packages since November, according to the people, who asked not to be identified describing the deliberations.

Amgen Wins Ban on Sanofi’s Praluent Cholesterol Drug Sales

Amgen Inc. won a court ruling blocking rivals Sanofi and Regeneron Pharmaceuticals Inc. from selling their cholesterol-lowering drug Praluent in the U.S. because it infringes Amgen’s patents covering a rival treatment. U.S. District Judge Sue Robinson in Delaware ordered Sanofi and Regeneron Thursday to halt Praluent sales for 12 years because the drug infringes patents on Amgen’s Repatha medication.

Ex-Hedge Fund Manager Generates 51% Return in Skiers? Paradise

The region of Trondelag is the cradle of Norway’s Winter Olympic dominance, with 14 gold medals over the past two events alone. Now, Jomar Kilnes, a former hedge fund manager who has come home after more than a decade in the Bahamas and the U.S., is showing that delivering outsized investment returns is the area’s real forte.

Your Evening Briefing

At all times in life, one might as well metaphorically heed the instructions of flight attendants and keep seatbelts fastened. This will prove useful, as it did today, when the dollar goes into a tailspin ; or when bracing for higher prices on goods, gas and airfare; or when your company is the subject of a  Donald Trump  tweet.

Developed by STX chief creative office Jason Goldberg, ‘Number One…

Developed by STX chief creative office Jason Goldberg, ‘Number One Suprise’ was viewed nearly 300 million times on Hunan TV and digital platforms after its premiere on Nov. 21. STX Entertainment has scored a ratings hit with Number One Surprise , its first TV show developed for the huge Chinese market. A celebrity-driven variety show, Number One Surprise was developed in partnership with China’s XG Entertainment.

Oxy Reckitt Benckiser ex-chief get 7 years in prison

A South Korean court has sentenced the former head of Oxy Reckitt Benckiser to seven years in prison after the company’s disinfectant for humidifiers killed scores of people. Seoul Central District Court ruled Friday that Shin Hyun-woo, Oxy chief from 1991-2005, was guilty of accidental homicide and falsely advertising the deadly product as being safe even for children.

Li Ka-Shing Sees Hong Kong Property Prices Rising Amid Curbs

Hong Kong’s richest man Li Ka-shing expects property prices in the city will rise “a little bit” this year, even as the government takes steps to cool the world’s costliest real estate market. The government in November increased the stamp duty to 15 percent for all residential purchases, excluding first-time buyers who are permanent residents.

Fine Wine, Fast Profits: The Man Who Led BSI Bank Into the Abyss

He was the leader of one of the largest mass defections in private banking history, with more than 100 staff following him from RBS Coutts Bank Ltd. in the thick of the global credit crisis to create a financial phenomenon in Singapore at a little-known Swiss bank. Hanspeter Brunner, together with former deputy Raj Sriram and chief operating officer Gary Tucker, were the kernel of a plan by BSI SA, founded in 1873 in Lugano, to build up a $10 billion wealth-management business serving the burgeoning ranks of Asia’s millionaires.

Fairfax Said in Talks With OMERS to Back $4.9 Billion Takeover

Prem Watsa’s Fairfax Financial Holdings Ltd. is in talks with the Ontario Municipal Employees Retirement System to see if the pension fund will help finance his $4.9 billion takeover of Allied World Assurance Co., according to a person familiar with the discussions. OMERS could take a minority stake in Zug, Switzerland-based Allied, and there have also been talks with other potential backers, said the person, who asked not to be identified discussing a confidential matter.