If anyone thought last week’s three days of positive trading indicated a trend reversal, or even more implausibly, an end to the recently launched bear market, they were rudely awakened on Friday. Markets tumbled as the US overtook previous pandemic hotspots China and Italy with the unwanted statistic of having the highest number of coronavirus infections on record. It appears, then, that the new bear market will be around for a while, along with the accompanying bouts of volatility. How long will it last? Impossible to tell,…
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2 Biotech Stocks in the Hunt for New Coronavirus Drugs; Oppenheimer Weighs In
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With the number of confirmed COVID-19 cases rising despite worldwide lockdowns and social distancing efforts, the biotech industry is taking action. In just two months since the first infection was reported in the U.S., the country’s total number of cases has surpassed both that of Italy and China, and the Trump administration is calling on…
FDA greenlights COVID-19 point-of-care test
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The U.S. Food and Drug Administration approved a portable swab test which can provide results for the coronavirus in less than 15 minutes.
Bank of America’s Race to Avoid Public Shaming Underscores the Perils of the Crisis
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(Bloomberg) — For 93 uncomfortable minutes, Bank of America Corp. rushed to escape infamy this week, before it was saved by the grace of James Corden, the affable talk show host known for crooning in cars with stars.The drama began when California Governor Gavin Newsom called out the bank for not offering 90-day grace periods…
Coronavirus could accelerate US cannabis legalization
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States like New York will see significant revenue shortfalls due to coronavirus. Legalizing cannabis could make up for a quarter of the losses, which could help push legislation forward.
Zoom Technologies Trading Suspended After Ticker Confusion
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(Bloomberg) — Trading in Zoom Technologies Inc. (ticker: ZOOM) was suspended by the U.S. Securities and Exchange Commission Thursday through April 8 after the stock climbed in recent weeks amid confusion with Zoom Video Communications Inc. (ticker: ZM), the popular virtual-meeting company.The similar names had caused confusion, leading some investors to purchase shares in the…
Texas Billionaire Who Levered Restaurant Empire Hit on All Sides
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(Bloomberg) — Last month, on the Friday before the U.S. stock market recorded its worst weekly plunge since 2008, Texas billionaire Tilman Fertitta was beaming.As he prepared to host an annual Mardi Gras celebration at a beachfront resort outside Houston, business was booming, pushing his personal fortune to more than $5 billion.A few weeks later…
Why Inseego Products Are In Demand During The Pandemic
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Water and toilet paper have been flying off the shelves, and they're not the only household products in high demand due to the coronavirus pandemic.With the temporary solution to combat the spread of the virus being working from home, Inseego Corp's (NASDAQ: INSG) MiFi Jetpack 8800L and its MiFi 8000 internet boxes have been in…
We're Looking at a System-Wide Margin Call
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Intel, AMD Say They're Operating Near Capacity Despite Coronavirus Disruptions
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Even as the sell-side debates the extent of the damage the COVID-19 pandemic will inflict on chipmakers, Intel Corporation (NASDAQ: INTC) and Advanced Micro Devices, Inc. (NASDAQ: AMD) appear to be going strong in the face of the adversity.AMD, Intel Say Supply To Keep Pace With Rising Demand AMD and Intel have said they are…