Sacituzumab is in the most advanced stage of clinical development for treating patients with metastatic triple negative breast cancer, or mTNBC. On July 18, 2018, the FDA accepted the BLA for the regulatory review of sacituzumab govitecan as a treatment option for mTNBC in the third-line setting and above, fixing the PDUFA action date at Jan. 18, 2019. The breakthrough the company waited 37 long years for was not to be, as the FDA handed down a Complete Response Letter one day before the decision date.
Ford Motor Company (NYSE: F) shares are falling after reporting a third-quarter sales miss. Third-quarter earnings came in at 34 cents per share, beating estimates by 8 cents. The company reported quarterly sales of $33.93 billion, which missed the analyst consensus estimate of $33.98 billion.
“It's cost, cost, cost,” Tesla CEO Elon Musk told investors in January just before losing $1.1 billion in the following months. It was also unexpected: Analysts polled by FactSet expected Tesla to lose $253 million this quarter. The company has only posted four profitable quarters before now, and never recorded an annual profit.
Canadian Pacific Railway Ltd beat analysts' estimates for quarterly profit on Wednesday, driven by lower fuel expenses and higher shipments of coal, crude and fertilizers. CP said its operating ratio, a closely watched productivity metric that measures expenses as a percentage of revenue, fell 220 basis points to a record-low of 56.1% in the third quarter. The lower the ratio, the more efficient a railroad.
In just a few weeks, companies from yacht makers to luxury clothing and pizza outlets -- acquired by Chinese firms in recent years -- have either scrapped planned initial public offerings or sought alternatives to reduce their debt piles. Ferretti SpA, the Italian superyacht maker controlled by China's SHIG–Weichai Group, shelved its planned Milan listing last week, citing weak market conditions. Shandong Ruyi Technology Group Co., which spent over $4 billion on purchases including U.K. trench coat maker Aquascutum, introduced a local state-owned firm as its second-largest shareholder amid rising pressure to repay debt.
Tesla (TSLA) unexpectedly turned a profit in the third quarter, sending shares soaring in after-hours trading. As is typical with Tesla's quarterly expectations, the range of the Street's estimates for the company's bottom-line results ran a wide gamut, ranging from a loss of as much of $1.25 per share to earnings of as much as 34 cents per share, according to Bloomberg data. Shares of Tesla jumped more than 18% to $301.46 each as of 5:36 p.m. ET after the estimates-topping earnings results were released.
1. Freeze its pension plan for about 20,000 salaried employees and for about 700 employees in a supplementary plan. 2. Offer lump-sums to about 100,000 former employees who have not started benefits. Freezing GE's plan means that 20,000 salaried employees will not be able to accrue any new benefits under the plan beginning in 2021.
Dow Jones futures rose Wednesday, along with S&P 500 futures and Nasdaq futures. Tesla and Microsoft were the biggest earnings reports after the close. But Lam Research, Edwards Lifesciences, O'Reilly Automotive, MagnaChip Semiconductor and MKS Instruments signaled possible buying opportunities after their quarterly results.
Douglas Young, co-founder and chief executive officer of Goods of Desire, or G.O.D., a lifestyle and fashion store-chain operator in Hong Kong, discusses how the protests are affecting his business. Financial Secretary Paul Chan unveiled a range of relief measures worth about HK$2 billion ($255 million) targeting tourism and the transportation industry in a renewed effort to help businesses grappling with the economic fallout of ongoing turmoil. Young speaks on "Bloomberg Markets: Asia."
Microsoft (MSFT) reported its Q1 2020 earnings on Wednesday, beating analysts' expectations on the top and bottom line. Here are the most important numbers from the quarter, as well as what analysts were expecting based on consensus estimates from Bloomberg: Revenue: $33.1 billion versus $32.2 billion expected Adjusted earnings per share: $1.38 versus $1.24 expected Intelligent cloud division: $10.85 billion versus $10.44 billion expected The company's stock was down 0.54% following the announcement. Microsoft has seen incredible growth in the last few years due in large part to its investments in its Azure cloud services.
General Electric delivered the first flight-compliant GE9X engine to Dow Jones aviation giant Boeing, reports said, paving the way for Boeing 777-9 flight tests to resume. GE stock reversed higher, and Boeing stock gained despite a big earnings miss. GE's GE9X engine arrived at Boeing's Everett, Wash.
Microsoft Corp. easily trumped expectations with an earnings report Wednesday afternoon that displayed double-digit percentage gains in profit and sales, but the Azure cloud business's growth rate continued to decline. The most valuable public company in the U.S. reported fiscal first-quarter profit of $10.7 billion, or $1.38 a share, on revenue of $33.1 billion, up from $1.14 a share on sales of $29.08 billion a year ago. Microsoft (MSFT) stock closed with a 0.6% gain at $137.24, giving the company a market capitalization of $1.056 trillion, declined less than 1% in after-hours trading following the release of the results, then rose to slight gains after Microsoft gave a slightly more optimistic full-year forecast.
In the simplest terms, a dividend is your share of a company's profits. Some companies, such as those in the U.K., pay a semiannual dividend to shareholders. The best dividend-paying stocks tend to be older, more established companies.
But retiring comfortably with a modest dependence on Social Security will require significantly higher retirement balances than the average working American has set aside. When preparing for your twenty years of unemployment consider the following: Take enough risk During a career in investing which spans three decades – through bull and bear markets – I have observed that investing in stocks is not the risky activity. It's investing that contains the most risk to our future security.
Chipmaker Xilinx late Wednesday topped Wall Street's targets for its fiscal second quarter, but its soft guidance spooked investors. The Xilinx earnings news drove XLNX stock lower in extended trading. The San Jose, Calif.-based company earned an adjusted 94 cents a share on sales of $833 million in the quarter ended Sept. 28.
NEW YORK/BOSTON (Reuters) - Teva Pharmaceutical Industries Ltd's proposed $23 billion (£17.85 billion) drug giveaway to settle thousands of U.S. opioid lawsuits will likely cost the company a fraction of that figure due to how it has valued those medicines, according to a Reuters review of pricing data and industry analysts. When Teva announced the value of the donated medicine - a generic version of opioid addiction treatment Suboxone - it based the figure on the drug's list price, which does not account for significant discounts routinely provided by the drugmaker. If based on the estimated cost to manufacture the drugs, the value could be as low as $1.5 billion, drug pricing consultants and industry analysts say.
The solar energy industry has been on fire this year, with that group gaining a collective 30% year to date as measured by the Invesco Solar ETF, TAN. Jason Bloom, Senior Director of Global Macro Strategy at Invesco, discusses the ins and outs of the hot group and why solar stocks could be positioned for an even bigger move.
Retirement planning at any age can be challenging. Still, there are certain steps to take when you're in your mid-60s and beyond to make sure you're ready for those golden years. At one time, the common age for retirement was 65, but times have changed.
Shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) have tripled in value this year as shareholders eagerly welcomed the Trump administration's interest in ending the two mortgage firms' conservatorship. But a side comment made by a regulator during a congressional hearing Tuesday shows how little is settled when it comes to the fates of the two companies that underpin much of the housing finance market in the United States. If the circumstances present itself to where we have to wipe out the shareholders, we will,” Federal Housing Finance Agency director Mark Calabria said during a hearing before the House Financial Service Committee, referring to Fannie Mae and Freddie Mac's shareholders.
Procter & Gamble beat fiscal first-quarter earnings estimates Tuesday and raised its guidance for its fiscal 2020. My reason for concern is that the stock's weekly slow stochastic reading is falling out of overbought territory and a close on Friday below its five-week modified moving average at $120.89 would downgrade the weekly chart to negative. P&G is a component of the Dow Jones Industrial Average and has been a solid performer so far in 2019.
Analysts polled by Bloomberg expect the social media company to report adjusted earnings of 20 cents per share on $875.62 million in revenue during its third quarter. Daily active users (DAU), a key metric for social media companies, are expected to total around 141 million with about 2 million new additions during the third quarter. DAU growth at Twitter has seen meaningful acceleration over recent quarters, and analysts are expecting that trend to have continued during its most recent quarter.
Investors worry the same could happen when insider-selling restrictions expire on Oct. 29, the day after earnings. Beyond Meat's third-quarter revenue is expected to triple from the same period last year given the rising number of partnerships with retailers and restaurants, Bloomberg Intelligence analyst Jennifer Bartashus wrote.
The US dollar has chopped around back and forth during the trading session on Wednesday, as the market is testing the crucial 200 EMA. This is an indicator that a lot of the longer-term traders out there will be paying attention to, and for most people determines whether a market is in an up or down trend. Because of this, it makes quite a bit of sense that we will continue to see interest in this area.
Here are five key numbers that help define one of the more dramatic business debacles in recent memory. billion: WeWork's peak valuation, attained at the start of this year as SoftBank poured money into the venture, is now a fading memory. The Japanese conglomerate's latest investment in the troubled company values it at roughly $8 billion.
(WORK) CEO Stewart Butterfield said Wednesday he has no regrets about the company's decision to choose a direct listing rather than an initial public offering to go public, despite the nearly 45% slide in the company's shares since it started trading in June. Butterfield made the comments Wednesday in the final session of this week's Wall Street Journal technology conference in Laguna Beach, California. Slack's (ticker: WORK) direct listing has triggered a widespread discussion in Silicon Valley about whether direct listings are a better option for companies looking to go public than traditional initial offerings.