U.S. markets closed

Viveve Reports Full Year 2019 Financial Results

  • Company completes successful U.S. commercial transition from traditional capital sales model to recurring revenue rental model
  • Landmark pivotal sexual function trial (VIVEVE II) completed with data readout scheduled for April
  • SUI clinical development program with short-term feasibility study continues to advance
  • Company to host conference call at 5:00 PM ET today

ENGLEWOOD, CO / ACCESSWIRE / March 19, 2020 / Viveve Medical Inc. (VIVE), a medical technology company focused on women's intimate health, today reported financial results for the year ended December 31, 2019. The Company will provide a corporate update on its scheduled conference call at 5:00 PM ET today.

"2019 was a transformational year for Viveve where we achieved several significant milestones in our commercial operations and clinical development programs. Our U.S. commercial team successfully transitioned to a new recurring revenue rental model, resulting in an increase in the number of Viveve® Systems placed at a lower acquisition cost per customer," said Scott Durbin, Viveve's chief executive officer.

"We are also pleased to report significant advancement in our clinical development programs in sexual function and stress urinary incontinence (SUI) in 2019 and early 2020," continued Mr. Durbin. "We completed enrollment and patient monitoring in Viveve II, our landmark pivotal clinical trial evaluating participants for improved sexual function following treatment with Viveve's Cryogen-cooled Monopolar Radiofrequency (CMRF) technology. We remain on track to report topline data from this trial next month. If the results are positive, we intend to submit a marketing application for our CMRF technology to the U.S. Food and Drug Administration (FDA) in 2020 for the improvement of sexual function in women following vaginal childbirth."

"Also, following the inconclusive results of our LIBERATE-International SUI trial reported in August 2019, we were pleased that the Canadian Ministry of Health approved the Investigational Testing Application (ITA) for our important short-term SUI feasibility study in mid-December 2019. We quickly initiated the SUI feasibility study and completed enrollment in early March 2020. The trial data readout expected in the third quarter of this year will chart our course for potential global product label expansion for SUI, a condition that affects an estimated 25-30 million women worldwide."

2019 and Recent Business Highlights

Implemented New U.S. Commercial Sales Model and Realigned Organization

  • Transitioned U.S. Commercial Sales to Recurring Revenue Rental Model: In June 2019, U.S. sales of the Viveve System transitioned from a capital equipment sales model to a recurring revenue rental model. The new U.S. commercial sales model reduced up-front costs for customers and thus lowered hurdles to adoption, leading to increased placement rates, improved profit margins and a significant reduction in average selling time per unit. In December 2019, Viveve System placements with new customers represented a higher monthly productivity rate per sales representative and lower cost per sales representative per system placed than any prior month in the Company's history.
  • Implemented a Strategic Organizational Realignment Plan: In January 2019, the Company undertook a strategic organizational realignment to reduce operating expenses and prepare for the potential of expanded indications for its CMRF technology platform. International commercial distribution remains unchanged through Viveve's global network of distributor partners. The restructuring contributed to a reduction in total operating expenses in the first quarter of 2019 as projected, and additional operating cost savings occurred through the remainder of 2019.

Advanced Sexual Function Clinical Development Program

  • Completed VIVEVE II Pivotal FDA Clinical Trial for Improvement of Sexual Function: In March 2019, Viveve completed enrollment of 250 patients in VIVEVE II, our U.S. Investigational Device Exemption (IDE)-approved multicenter, randomized, double-blind, sham-controlled trial evaluating our CMRF technology for improvement of sexual function in women. In March 2020, the final 12-month patient visits were completed and announced. We remain on schedule to present a topline data readout from the trial in April 2020. If positive, the results could support a marketing application for a new U.S. commercial indication for our CMRF technology.

Advanced Stress Urinary Incontinence (SUI) Clinical Development Program

  • Initiated ITA Approved Three-Arm Feasibility Study in SUI: In December 2019, the Company received approval of an ITA from the Canadian Ministry of Health and in January 2020 our team initiated a three-arm, three-month feasibility study comparing Viveve's CMRF treatment and a cryogen-only sham to an inert sham treatment for the improvement of SUI in women. The results of the short-term feasibility trial may provide a strategic path forward in our pursuit of global product label expansion in SUI. The feasibility study data readout is expected in the third quarter of 2020.
  • Reported Clinical Results from LIBERATE-International SUI Trial: In July 2019, we reported topline results from the LIBERATE-International study in SUI conducted under an ITA approved by the Canadian Ministry of Health. In August 2019, Viveve also reported additional clinical outcomes data from the study. While the study did not achieve statistical significance on the primary endpoint of mean change from baseline on the 1-hour Pad Weight Test at six months post-treatment compared to the control group, the full clinical data demonstrated a consistency of benefit at six months post-treatment across all endpoints in the majority of patients within both groups. Across all endpoints, the efficacy of both the active (RF and cryogen) and sham (cryogen-only) treatments were highly clinically relevant. Analysis of the results of the trial led Viveve to conduct the short-term SUI feasibility trial that is currently underway.

Launched Next Generation 2.0 Platform in Key Global Markets

  • South Korea: In December 2019, Viveve received registration clearance from the Korean Ministry of Food and Drug Safety for its next generation Viveve 2.0 CMRF System for use in general surgical procedures for electrocoagulation and hemostasis as well as for the treatment of vaginal laxity.
  • China: In December 2019, Viveve reported the launch of its next generation 2.0 System and consumable treatment tips in mainland China, Hong Kong, and Macau with Paragon Meditech, the Company's exclusive distribution partner in the region. Paragon hosted a launch event that included more than 70 key opinion leader customers in Dalian, China, which was enthusiastically received by participating women's health and aesthetic practitioners from Mainland China and other Asian markets across Paragon's territories.
  • United States: In June 2019, the Company received 510(k) clearance from the FDA for its next generation Viveve 2.0 System and consumable treatment tips for use in general surgical procedures for electrocoagulation and hemostasis. The FDA clearance is believed to represent another important confirmation of the safety profile of Viveve's CMRF technology platform.
  • European Union: In April 2019, the Company received CE Mark clearance for its next generation Viveve 2.0 CMRF System and treatment tips in the European Union and European Economic Area countries. As part of our ongoing regulatory strategy to expand the commercial launch of our Viveve 2.0 CMRF System globally, the Company's next generation system and its consumable treatment tips are now available in more than 30 countries in Europe.

"As of the end of 2019 Viveve had a global installed base of 840 systems and had sold more than 41,000 consumable treatment tips. Our international business continues to show strength and with the demonstrated success of the U.S. recurring revenue rental model, greater long-term revenue per customer, lower selling costs per unit placed, and improved revenue from consumables sales, we believe we will realize more predictable quarterly and annual sales growth. Combined with continuing advances in our clinical development programs and upcoming trial readouts, we believe that Viveve is positioned to significantly advance the science and practice of women's intimate health in the months and years ahead," concluded Mr. Durbin.

Full Year 2019 Financial Results

Revenue for 2019 totaled approximately $6.6 million compared to revenue of approximately $18.5 million for 2018, a decrease of $12.0 million, or approximately 65%. The decrease in revenue was primarily due to our shift in our U.S. commercial sales model to a recurring revenue rental model versus selling systems under a capital equipment sales model. Sales in 2019 included 137 Viveve Systems and approximately 7,850 disposable treatment tips. Under the U.S. recurring revenue rental model, which was launched in June 2019, the Company placed 82 Viveve Systems. Rental revenue on these leases is recognized on a straight-line basis over the term of the lease.

Gross profit for 2019 was approximately $1.0 million, or 15% of revenue, compared to gross profit of approximately $7.3 million, or 40% of revenue for 2018, a decrease of $6.3 million or approximately 86%. The decrease in gross profit was primarily due to the lower sales volume of Viveve Systems sold as the Company transitioned its U.S. business model to a recurring revenue rental model versus selling systems under a capital equipment sales model.

Total operating expenses for 2019 were approximately $31.7 million compared to $52.3 million for 2018. The decrease is mainly the result of lower sales costs associated with the U.S. shift to the recurring revenue rental model in June 2019 as well as certain cost savings in connection with the Company's strategic organizational realignment in early 2019.

Spending on research and development for 2019 was approximately $8.6 million compared to approximately $13.6 million in 2018. The decrease was primarily due to higher costs in 2018 associated with engineering and development work with the Company's contract manufacturer related to product line improvements and expansion efforts of the next generation Viveve 2.0 System and disposable treatment tips.

Selling, general and administrative (SG&A) expenses during 2019 were approximately $22.4 million compared to approximately $38.7 million in 2018, a decrease of $16.3 million, or approximately 42%. The decrease in SG&A spending in 2019 was primarily due to certain cost savings in connection with the Company's strategic organizational realignment, which occurred in the first quarter of 2019. The restructuring included a reduction in headcount of approximately 40 full-time employees. Reduced professional and legal fees associated with strategies to protect our intellectual property also contributed to the reduction in SG&A expenses in 2019.

Net loss attributable to common stockholders for 2019 was approximately $42.9 million, or a net loss of $34.39 per share of common stock based on 1,247,768 weighted average shares outstanding during the period, compared with a net loss of approximately $50.0 million, or a net loss of $160.92 per share of common stock for 2018 based on 310,589 weighted average shares outstanding during the period (adjusted for the Company's 1-for-100 reverse stock split in September 2019).

Conference Call Information (updated)

The Company will host a live conference call at 5:00 p.m. E.T. today. The conference call may be accessed by dialing 1-833-255-2833 (domestic) or 1-412-902-6728 (international) or via live webcast at https://services.choruscall.com/links/vive200319.html. Participants may also pre-register for the conference call at http://dpregister.com/10138365.

A recording of the webcast will be posted on the Company's investor relations website following the call at ir.viveve.com and will be available online for 90 days.

About Viveve

Viveve Medical, Inc. is a medical technology company focused on women's intimate health. Viveve is committed to advancing new solutions to improve women's overall well-being and quality of life. The internationally patented Viveve® System incorporates Cryogen-cooled Monopolar Radiofrequency (CMRF) technology to uniformly deliver volumetric heating while gently cooling surface tissue to generate neocollagenesis in a single in-office session.

In the United States the Viveve System is cleared by the Food and Drug Administration (FDA) for use in general surgical procedures for electrocoagulation and hemostasis. International regulatory approvals and clearances have been received for vaginal laxity and/or improvement in sexual function indications in more than 50 countries.

For more information, visit Viveve's website at viveve.com .

Safe Harbor Statement

All statements in this press release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While management has based any forward-looking statements included in this press release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, the fluctuation of global economic conditions, the impact of the novel coronavirus on our clinical development and on the manufacturing, placements and patient utilization of our Viveve Systems, the performance of management and our employees, our ability to obtain financing, our ability to obtain approval or clearance for sale of our medical device for all indications sought, competition, general economic conditions and other factors that are detailed in our periodic and current reports available for review at www.sec.gov. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware, unless required by law.

Viveve is a registered trademark of Viveve, Inc.

VIVEVE MEDICAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)
(unaudited)

December 31, December 31,
2019 2018
ASSETS
Current assets:
Cash and cash equivalents
$ 13,308 $ 29,523
Accounts receivable, net
1,573 5,704
Inventory
4,861 4,119
Prepaid expenses and other current assets
2,447 2,558
Total current assets
22,189 41,904
Property and equipment, net
3,046 2,916
Investment in limited liability company
1,216 1,843
Other assets
526 171
Total assets
$ 26,977 $ 46,834
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 1,608 $ 3,994
Accrued liabilities
4,698 6,766
Total current liabilities
6,306 10,760
Note payable, noncurrent portion
3,983 30,528
Other noncurrent liabilities
167 634
Total liabilities
10,456 41,922
Stockholders' equity:
Capital stock and additional paid-in capital
214,432 160,297
Accumulated deficit
(197,911 ) (155,385 )
Total stockholders' equity
16,521 4,912
Total liabilities and stockholders' equity
$ 26,977 $ 46,834

VIVEVE MEDICAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)

Year Ended
December 31,
2019 2018
Revenue
$ 6,567 $ 18,517
Cost of revenue
5,551 11,197
Gross profit
1,016 7,320
Operating expenses:
Research and development
8,590 13,616
Selling, general and administrative
22,363 38,669
Restructuring costs
742 -
Total operating expenses
31,695 52,285
Loss from operations
(30,679 ) (44,965 )
Loss on debt restructuring
(6,705 ) -
Interest expense, net
(4,354 ) (4,372 )
Other income (expense), net
(161 ) 13
Net loss from consolidated companies
(41,899 ) (49,324 )
Loss from minority interest in limited liability company
(627 ) (657 )
Comprehensive and net loss
(42,526 ) (49,981 )
Series B convertible preferred stock dividends
(380 ) -
Net loss attributable to common stockholders
$ (42,906 ) $ (49,981 )
Net loss per share of common stock:
Basic and diluted
$ (34.39 ) $ (160.92 )
Weighted average shares used in
computing net loss per common share:
Basic and diluted
1,247,768 310,589

Note: All share and per share data has been adjusted to reflect the 1-for-100 reverse stock split which became effective after the Nasdaq Capital Market trading closed on September 18, 2019.

Investor Relations contacts:
Amato and Partners, LLC
Investor Relations Counsel
admin@amatoandpartners.com

Media contact:
Jenna Urban
Berry & Company Public Relations
(212) 253-8881
jurban@berrypr.com

SOURCE: Viveve Medical, Inc.



View source version on accesswire.com:
https://www.accesswire.com/581516/Viveve-Reports-Full-Year-2019-Financial-Results

  • Coronavirus stimulus-package tax relief: Withdraw $100K from your IRA — and repay in 3 years with zero tax liability
    Business
    MarketWatch

    Coronavirus stimulus-package tax relief: Withdraw $100K from your IRA — and repay in 3 years with zero tax liability

    The new law is a daunting 880 pages long, but it contains lots of good news for individuals and businesses, including meaningful tax relief. This column explains one tax-relief measure that can potentially benefit many IRA owners. IRA owners who are adversely affected by the coronavirus pandemic (and there will be plenty of them) will be eligible to take tax-favored coronavirus-related distributions from their IRAs.

  • You can be ‘practically stealing’ quality stocks now, according to Jefferies
    Business
    MarketWatch

    You can be ‘practically stealing’ quality stocks now, according to Jefferies

    Investors are trying to get ahead of an eventual turnaround for the stock market, even as the coronavirus spreads further across the U.S. Analysts at Jefferies have published a list of 47 stocks that they believe have “strong fundamentals” and attractive valuations, with opportunities created by “indiscriminate selling” over the past month. The largest of the recommended companies are listed below. Warnings Before getting to the list of “best stock ideas” from Jefferies, a number of warnings are in order: • It's too early to call a stock market bottom — it's a fool's errand.

  • These are the 20 stocks corporate insiders have been buying most amid the coronavirus-induced market selloff
    Business
    MarketWatch

    These are the 20 stocks corporate insiders have been buying most amid the coronavirus-induced market selloff

    Throughout these topsy-turvy times of scary health news, city lockdowns and daily market moves of 5% or more in both directions, there's been one comforting constant. Corporate insiders — executives and directors who buy shares in their own company — are loving this pullback. Since the S&P 500 index (SPX) Dow Jones Industrial Average (DJIA) and Nasdaq Composite Index (COMP) really began falling apart after March 5, insiders have been heavily buying all the areas that will supposedly get hit the hardest by this coronavirus and the COVID-19 illness it causes.

  • He said it in 1987 and in 2008 — now he’s saying it again: You’ll never see better bargains in the stock market
    Business
    MarketWatch

    He said it in 1987 and in 2008 — now he’s saying it again: You’ll never see better bargains in the stock market

    That's John Rogers, chairman of Ariel Investments, urging investors in an interview Wednesday night on CNBC to take advantage of the stock market's recent plunge. Rogers cited Sir John Templeton's advice that the time to buy is “when there's maximum pessimism. And, with the coronavirus pandemic sparking wild swings, that time, he says, is now.

  • Is Abbott A Buy After Gaining FDA Blessing For Its Coronavirus Test?
    Business
    Investor's Business Daily

    Is Abbott A Buy After Gaining FDA Blessing For Its Coronavirus Test?

    So, while the medical company's sales and earnings have grown consistently for several years, Abbott isn't lining up with CAN SLIM rules for investing. Investors are advised to seek companies with recent quarterly earnings and sales growth of 20%-25%. The bigger, the better.

  • Getting crushed in this market? One look at Warren Buffett’s portfolio and you might feel a lot better about yours
    Business
    MarketWatch

    Getting crushed in this market? One look at Warren Buffett’s portfolio and you might feel a lot better about yours

    Warren Buffett said earlier this month that he hadn't seen anything like the coronavirus pandemic. A couple of weeks later, and it's only gotten more dire as infections mount around the world and the stock market continues to spin out of control in both directions. “While Buffett is well known for weathering the worst market downturns and coming out stronger, the last several weeks have been just as painful on his portfolio as it has on the broader market,” Bespoke explained in a post noting that the average stock in his top holdings is off 37%.

  • Exxon’s Safe Dividend Makes XOM Stock a Bargain Right Now
    Business
    InvestorPlace

    Exxon’s Safe Dividend Makes XOM Stock a Bargain Right Now

    Stocks to Buy That Will Benefit From Coronavirus Mayhem So if Exxon was going to signal a dividend cut it will happen within the next month or so. So far no bad news. Exxon Can Afford Its Dividend Last year, Exxon generated almost $30 billion ($29.7 b) in free cash flow from operations (CFFO) before its capex spending.

  • Dozens of virus deaths in NY funeral home
    U.S.
    Associated Press Videos

    Dozens of virus deaths in NY funeral home

    Dozens of virus deaths in NY funeral home

  • 7 Strong Stocks to Buy to Survive the Coronavirus Crisis
    Business
    InvestorPlace

    7 Strong Stocks to Buy to Survive the Coronavirus Crisis

    U.S. Stocks to Buy on Coronavirus Weakness With that in mind, some of the best stocks to buy that should survive the coronavirus crisis include: Nike (NYSE:NKE) Apple (NASDAQ:AAPL) Starbucks (NASDAQ:SBUX) Microsoft (NASDAQ:MSFT) Disney (NYSE:DIS) McDonald's (NYSE:MCD) Walmart (NYSE:WMT) Stocks to Buy to Survive the Coronavirus Crisis: Nike (NKE) Over the past 35 years, global athletic apparel maker Nike has seen a crisis or two — and each time, NKE stock overcame the crisis, and proceeded to rally to all-time highs as soon as the crisis cleared up. During the Flash Crash of 1987, NKE stock dropped 35% in a few months. By early 1988, the stock had rallied back to new all-time highs.

  • Abbott Labs releases coronavirus test system that has results in 5 minutes
    Business
    American City Business Journals

    Abbott Labs releases coronavirus test system that has results in 5 minutes

    Abbott Laboratories said it has received emergency-use authorization from the U.S. Food and Drug Administration for its device that can render positive results for the coronavirus in five minutes. The Abbott Park, Illinois-based pharmaceutical company (NYSE: ABT) said its molecular point-of-care test for novel coronavirus is the fastest test available and can deliver negative results in 13 minutes. The test doesn't have to be administered in a hospital, Abbott said, but can be used in healthcare settings such as physicians' offices and urgent care clinics, as well as hospital emergency departments.

  • Sell the Bailout Rally in United Airlines Stock
    Business
    InvestorPlace

    Sell the Bailout Rally in United Airlines Stock

    United Airlines stock, for example, has doubled from its low point over the past week, though admittedly the current $33 price is far short of the previous $90 peak. That said, sometimes when a stock price doubles in a few days, you should take advantage of it and get out while the getting is good. This is one of those cases.

  • Business
    Barrons.com

    The Dow Ignored the Spread of Coronavirus Last Week. It Won’t Be Able to Anymore.

    As the disease has spread, fears about the possible death toll and the extent of the economic disaster roiled global financial markets. The Dow Jones Industrial Average rallied more than 20% off its low, putting it in a bull market, at least by some definitions, though it remains down 24.2% on the year. It is far from contained, and Covid-19, the respiratory disease caused by the virus, continues to spread.

  • Business
    Oilprice.com

    Canadian Drillers Face Nightmare Scenario As Oil Crashes To $5

    This year's oil price crash will hit Canada's oil patch harder than the 2014 price collapse, analysts say. Following the double supply-demand shock of the past weeks, the industry had to quickly switch back to survival mode, just as it was expecting an uptick in upstream investments this year, for the first time in five years. Canada's oil and gas sector now faces an existential threat – losing even the little competitiveness it held onto in the wake of the previous oil crash.

  • If you do this now, you might be able to double your retirement portfolio
    Business
    MarketWatch

    If you do this now, you might be able to double your retirement portfolio

    The coronavirus crisis has created an extraordinary buying opportunity in emerging market stocks for anyone hoping to save for their retirement, say two independent investment houses. Buy a broad portfolio of inexpensive “value” stocks in developing markets such as China, South Korea, Russia, Brazil, India and you've got a good chance of doubling your money or better over the next five to seven years, say number crunchers at investment advisory firm Research Affiliates in Newport Beach, Calif., and at the blue chip money managers GMO in Boston. “Value” stocks are those that are inexpensive in relation to business fundamentals such as company revenues, assets and earnings.

  • China’s $30 Trillion Market Promise Beckons Global Wealth Firms
    Business
    Bloomberg

    China’s $30 Trillion Market Promise Beckons Global Wealth Firms

    While the further liberalization of the investment banking and money management industries in China has been overshadowed by the coronavirus crisis, wealth firms are nonetheless laying out plans to tap a market poised to reach $30 trillion in assets by 2023, according to consultant Oliver Wyman. Starting April 1, they can apply for licenses to set up wholly-owned mutual fund management firms for the first time.

  • Trump orders ventilators, demands appreciation
    Politics
    Associated Press Videos

    Trump orders ventilators, demands appreciation

    After days of pleading from the nation's governors, President Donald Trump took steps Friday to expand the federal government's role in helping produce critically needed supplies, including ventilators to fight the coronavirus pandemic. (March 27)

  • Dow Jones Futures Fall As U.S. Coronavirus Cases Top China's; 5 Stocks Setting Up Amid Market Rally
    Business
    Investor's Business Daily

    Dow Jones Futures Fall As U.S. Coronavirus Cases Top China's; 5 Stocks Setting Up Amid Market Rally

    Dow Jones futures fell solidly early Friday, along with S&P 500 futures and Nasdaq futures, after a stock market rally attempt extended a Dow Jones winning streak Thursday despite stunning jobless claims figures. U.K. Prime Minister Boris Johnson said Friday that he has tested positive for Covid-19, the most senior world leader to contract the coronavirus. Amazon.com, Alibaba, Netflix, Advanced Micro Devices and GSX Techedu are all worth considering for your updated watchlist.

  • Man who scored big wins during the 2008 financial crisis says the stock market could be ‘near a bottom’ if U.S. gets a coronavirus recovery plan
    Business
    MarketWatch

    Man who scored big wins during the 2008 financial crisis says the stock market could be ‘near a bottom’ if U.S. gets a coronavirus recovery plan

    Hedge-fund manager David Tepper says there is nothing wrong with “nibbling” at stocks that have experienced a brutal selloff in the past month, amid growing fears centered on the economic impact of the coronavirus pandemic. However, the star fund manager and billionaire says that U.S. lawmakers and the Trump administration need to act quickly to stabilize the economy and mitigate the damage from the deadly pathogen. There's nothing wrong with nibbling here,” the founder of Appaloosa Management said during a phone interview with CNBC on Monday, referring to stocks that have fallen at an unprecedented rate, as business activity across the globe shutters in order to contain the illness, COVID-1...

  • Why this wild coronavirus rally has Wall Street experts fearing a bull-market trap
    Business
    MarketWatch

    Why this wild coronavirus rally has Wall Street experts fearing a bull-market trap

    Blink and you may have missed it — the Dow Jones Industrial Average (DJIA) is in a bull market, reached on a day when data showed a record number of people filing for unemployment benefits. The 21% gain in the last three days ends what was just an 11-day bear market for the blue chips. The broader S&P 500 (SPX) has advanced a mere 18% over three days (the best stretch since 1933), leaving it shy of the 20% advance from the low that marks the informal definition of a bull market.

  • Warren Buffett Is Only Making Money On Three Coronavirus Stocks
    Business
    Investor's Business Daily

    Warren Buffett Is Only Making Money On Three Coronavirus Stocks

    The coronavirus stock market crash is costing investors trillions. Buffett's Berkshire Hathaway is down nearly $60 billion on its U.S.-listed holdings this year. Online retailer Amazon.com, drugmaker Biogen and consumer staples retailer Kroger, are the only stocks in Berkshire Hathaway's lineup of 51 U.S.-listed stocks that are up this year.

  • Passengers on ‘Death Ship’ Plead for Rescue After Virus Strikes
    U.S.
    Bloomberg

    Passengers on ‘Death Ship’ Plead for Rescue After Virus Strikes

    For passengers on a Holland America Line cruise ship, a fun-filled voyage on the luxury liner is quickly turning into a nightmare with deteriorating conditions on board and fears of a full-blown coronavirus outbreak after four travelers died and two others were infected. “We are stuck on this death ship,” said Yadira Garza, who is on board with her newly-wed husband. Passengers on the Zaandam, currently off the coast of Panama, say they are desperate to get off the liner after Chile wouldn't allow the vessel to dock.

  • The Fed is going to buy ETFs. What does it mean?
    Business
    MarketWatch

    The Fed is going to buy ETFs. What does it mean?

    The Federal Reserve on Monday announced a fresh round of stimulus designed to calm markets and buffer the hit to the economy from the coronavirus pandemic. Among other steps, the Fed said it would buy exchange-traded funds that track the corporate bond market, a first for the U.S. central bank. “This will provide much-needed liquidity to the bond market and to ETFs,” said Todd Rosenbluth, head of ETF and mutual fund research at CFRA.

  • If you’re depressed about all the money you’ve lost in the stock market, learn to profit from chaos
    Business
    MarketWatch

    If you’re depressed about all the money you’ve lost in the stock market, learn to profit from chaos

    In a plain-vanilla sense, you are probably wondering how to mitigate the volatility in your portfolio, which is freaking out. You could step into your time machine, go back a few months and buy some bonds. All kinds of wacky stuff is happening in the bond market, and bonds aren't really providing any diversification benefits anymore, as risk-parity strategies unwind.

  • Here's What Analysts Are Forecasting For The Home Depot, Inc. (NYSE:HD) After Its Yearly Results
    Business
    Simply Wall St.

    Here's What Analysts Are Forecasting For The Home Depot, Inc. (NYSE:HD) After Its Yearly Results

    The investors in The Home Depot, Inc.'s (NYSE:HD) will be rubbing their hands together with glee today, after the share price leapt 25% to US$191 in the week following its yearly results. Results were roughly in line with estimates, with revenues of US$110b and statutory earnings per share of US$10.25. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual.

  • 3 Casino Stocks You Shouldn’t Roll the Dice On
    Business
    InvestorPlace

    3 Casino Stocks You Shouldn’t Roll the Dice On

    Stocks to Buy That Will Benefit From Coronavirus Mayhem Let's build three bear trades to profit. Casino Stocks to Sell: Wynn Resorts WYNN Wynn Resorts (NASDAQ:WYNN) has doubled off the lows and its chart still looks bearish. Buyers do deserve some credit, though.