Oil prices are back near their lowest levels in a year, and one of the most basic economic principles is to blame.Read More »
Sameer Syed believes that Wall Street alumni have a lot to offer the tech world — but he knows firsthand how hard switching industries can be. Syed started off as an investment banker at JPMorgan, landing his first job as an analyst in 2007. In 2012, he left to join the realm of tech startups.
While Amazon.com Inc. (AMZN) and Whole Foods Market Inc. (WFM) contend that the upscale grocer will be operated the same as it's always been, Kroger Co. (KR) isn't buying it. In response to a question about the possible effect the Amazon-Whole Foods proposed merger will have on Kroger, company CFO Michael Schlotman, speaking at the Oppenheimer Consumer Conference on Wednesday, June 21, said he's not too worried about it at this point, but that it will be "interesting" to see how it evolves. Watch: Did Amazon Make a Mistake Saying There Are No Antitrust Issues With the Whole Foods Deal? "I really wouldn't speculate on a merger that's out there like that," Schlotman said. "But I'm guessing [Amazon]
What a difference two days make. On Tuesday, Gilead Sciences (GILD) was mired near a 52-week low, despite the fact that biotech stocks had started to rally. But on Wednesday, its shares shot up 2.9%, and they're up again today, putting it on pace for an 8.5% gain in just two days. That would be its largest two day gain since 2013. Leerink's Geoffrey Porges and Bradley Canino consider the recent rally in biotech stocks: Since mid-May, biotech stocks have outperformed the market by 7-12%. Over that time the biotech indexes SPDR S&P Biotech ETF ( XBI) and iShares Nasdaq Biotechnology ETF ( IBB) gained 14% and 9%, respectively, compared to the S&P500, which is up 2% over that month. Smaller cap names