Shares of FibroGen are soaring more than 50 percent in pre-market trading Tuesday after the biotech reported positive study results for a potential blockbuster drug. The biotech company’s drug pamrevlumab, a treatment for fatal lung disease idiopathic pulmonary fibrosis, successfully completed a mid-stage FDA test. “Significant value creation should occur now,” Jefferies analyst Michael Yee […]
Read moreThe “Fast Money” traders shared their first moves for the market open. Tim Seymour was a seller of the iShares MSCI Brazil Index. Brian Kelly was a buyer of Nvidia. Steve Grasso was a buyer of Marriott. Guy Adami was a buyer of Verisign. Trader disclosure: On August 7, 2017, the following stocks and commodities […]
Read moreThe hottest new trend in smartphones is right in front of you. Started by Samsung and quickly followed by others including LG, Essential and, as of Tuesday, Sharp, smartphones are beginning to pack screens that take up almost the entire front of the phone. Apple‘s iPhone 8 is expected to offer a similar screen when […]
Read moreYork Capital Management founder Jamie Dinan says he’s finding “huge opportunities” in Japan and Europe. “What we’ve been doing in Japan is playing the whole restructuring of the Japanese conglomerates … by trying to figure out which subsidiaries they are going to sell,” Dinan said Tuesday on CNBC’s “Squawk Box.” The hedge fund manager also […]
Read moreTesla is either going to be a big success or get “competed away” so investors need to have a “bipolar outlook” on the stock, according to one analyst. Jim McCaughan, CEO of Principal Global Investors, said that the majority of the market thinks Tesla will be a big success but it’s not so black and […]
Read moreWhether to raise taxes on the rich is one of the thorniest issues in tax reform. Underlying that debate is an even more fundamental question: Who exactly qualifies as wealthy? Everyone can agree that Jeff Bezos and Bill Gates are pretty stinking rich. Those earning at least $1 million in income seem to be a […]
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“DON’T be evil” is Google’s corporate motto. If only it were so simple. The online-search giant is in a tricky spot after an employee published a long, anonymous memo online about why women are under-represented in the technology industry. The main reason may not be sexism, asserted James Damore, the young Harvard-educated software engineer later […]
Read moreA trade war between the U.S. and China is brewing and could be the biggest risk for global investors, a prominent asset manager told CNBC. “We may be brewing up for a trade war because of the mistaken way that many policymakers interpret the trade issues. I don’t believe that the U.S. trade deficit is […]
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In the wake of announcing a major acquisition, stronger comparable sales results in North America and Europe helped fuel Michael Kors‘ profit and revenue to top Street expectations in its fiscal first quarter. Michael Kors said Tuesday that its net income attributable to the company dropped 15 percent to $125.5 million, or 80 cents per […]
Read moreJeffrey Gundlach joins the list of fund managers sounding warnings about the markets. Like Oaktree Capital’s Howard Marks, Gundlach is seeing danger signs. Junk bonds and emerging market debt are overvalued, Gundlach tells Bloomberg News. The manager of $110 billion-asset DoubleLine Capital says he’s moving out of those assets and putting money in higher quality […]
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