- BusinessThe Street•4 hours ago
There was a time when the underperformance of Gilead Sciences' (GILD) stock price was viewed as an opportunity to buy shares of a historically great biotech company at a discount. But Gilead's stock price continues to fall, trading today where it did two years ago. The value play looks more like a trap. Investors once okay with waiting patiently for a Gilead rebound are growing frustrated, even angry, at the company's lack of progress. (I wrote about the challenges to Gilead's M&A growth strategy in July.) It's reaching the point now where Gilead CEO John Milligan (and before him, John Martin) is at risk of losing his perennial status as biotech's best, most trusted CEO. "Investors have broadly
As part of KBW’s ongoing August Opportunity series, we are highlighting Outperform-rated Wells Fargo as an investment that we believe investors should be increasing while the opportunity still presents itself. Wells Fargo has been the worst-performing Universal Bank stock this year but we are maintaining the stock as our Best Idea, and at the current valuation we believe that shares of Wells Fargo are cheap relative to peers and investors should be adding shares to portfolios. Shares of Wells Fargo have lagged peers year to date, and Wells is now the worst-performing Universal Bank stock this year. The end result is that Wells Fargo is now trading at 11.6x our 2017 EPS estimate and this is 71% of the market multiple.
- financeBusiness Insider•3 hours ago
WASHINGTON (AP) — U.S. businesses added a solid 177,000 jobs in August, according to a private survey, suggesting that hiring remains healthy after two months of strong gains.