World’s Largest Pension Fund Loses $165 Billion in Worst Quarter

(Bloomberg) — The world’s biggest pension fund posted a record loss in the first three months of 2020 after the coronavirus pandemic sparked a global market rout in the period.Japan’s Government Pension Investment Fund lost 11%, or 17.7 trillion yen ($164.7 billion), in the three months ended March, it said in Tokyo on Friday. The…

Inovio's Manufacturing, Scalability Concerns Of Coronavirus Vaccine Keeps This Analyst On The Sidelines

Inovio Pharmaceuticals Inc (NASDAQ: INO) reported Tuesday interim Phase 1 readout for INO-4800, its DNA vaccine candidate against the novel coronavirus.The Inovio Analyst: Piper Sandler analyst Christopher Raymond maintained a Neutral rating and $8 price target for Inovio.The Inovio Thesis: There wasn't a ton of detail at this point from the readout except that 94%…

Wells Fargo to Cut Dividend as Top Rivals Maintain Payouts

(Bloomberg) — Wells Fargo & Co. plans to cut its dividend, breaking with all of the biggest Wall Street banks, after the Federal Reserve last week set new restrictions on the payouts.“There remains great uncertainty in the path of the economic recovery and though it’s difficult to accurately predict the ultimate impact on our credit…

How Kevin O'Leary Of 'Shark Tank' Is Investing In The 'Great Digital Pivot' Triggered By COVID-19

The coronavirus pandemic compressed five years of digital transformation in the U.S. into five months, "Shark Tank" star Kevin O'Leary said Saturday.What O'Leary calls "the great digital pivot" away from retail presents an opportunity for investors, he said. Retail sales have 50% gross margins, but direct-to-consumer sales have gross margins nearing 100%, O'Leary said at…

Americans Hold Huge Pile of Cash That’s Key to Economic Recovery

(Bloomberg) — Just like back in 2008, the Federal Reserve has pumped record amounts of cash into the financial system this year to stave off an economic collapse. But unlike in 2008, when that money mostly piled up in banks’ accounts at the Fed, funds are pouring into Americans’ checking accounts.And that’s a big distinction.When…