|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||18.46 - 18.65|
|52 Week Range||14.61 - 23.50|
|Beta (3Y Monthly)||1.04|
|PE Ratio (TTM)||10.04|
|Forward Dividend & Yield||0.78 (4.25%)|
|1y Target Est||29.18|
AVEO posts positive updated results from the second prespecified overall survival analysis of Fotivda for treating highly refractory metastatic renal cell carcinoma. Stock up more than 30%.
Bayer management board members Hartmut Klusik and Kemal Malik will leave at the end of the year without a replacement, as the German drugmaker reduces its board to five seats to cut costs. "By streamlining the structure of the Board of Management, we are optimizing the allocation of responsibilities and contributing to the company's ongoing efficiency program," Werner Wenning, chairman of the non-executive supervisory board, said in a statement on Tuesday. Bayer said last year it would lean more strongly on external firms and institutions for a better drug development pipeline, which most analysts regard as too thin to make up for an expected decline in revenues from its two pharma bestsellers from about 2024.
WINNIPEG, Manitoba/CHICAGO Sept 9 (Reuters) - Bunge Ltd, one the world's biggest grain traders, recently disclosed the 1.6% stake it had purchased in the fast-growing fake-meat startup Beyond Meat. The play looked smart after the stock surged more than 250% since the faux burger and sausage maker's initial public offering in May. Indeed, Beyond Meat's market capitalization of $9.9 billion is now larger than Bunge's , a 201-year-old firm with 31,000 employees. No wonder many top agricultural firms want to grab their cut of the booming market for plant-based fake meat.
In the halls of MD Anderson Cancer Center, the drug Vitrakvi is known for having a "Lazarus effect" in some patients because it can reverse late-stage cancer that has defied all other treatment options. Developed by Eli Lilly and Co's Loxo Oncology and marketed by German drugmaker Bayer, it fights a rare genetic mutation that appears in less than 1% of solid tumors, regardless of where they appear in the body. Finding those patients will require widespread adoption of sophisticated tests that look for multiple genetic alterations that could be driving the cancer.
Bayer said a law firm it commissioned to investigate lists compiled by Monsanto of European journalists, politicians and researchers had found no evidence of illegal behaviour. French prosecutors in May opened an inquiry after newspaper Le Monde filed a complaint alleging Monsanto, which was bought by Bayer for $63 billion, had kept files of influential people in a bid to sway public opinion on its pesticides. "There is no question that the ... stakeholder lists created were detailed, methodical, and designed to strongly advocate Monsanto's positions to stakeholders and to the public," Bayer quoted the report by law firm Sidley Austin as saying.
A Brazilian judge has ordered Germany's Bayer to deposit an additional 286 million reais ($69.4 million) in an escrow account due to a patent dispute with local soybean farmers, according to a court decision seen by Reuters. Federal Judge Vanessa Gasques in the state of Mato Grosso issued the ruling late on Tuesday, ordering the company to make the deposit within 48 hours. Bayer previously deposited 11.9 million reais related to the case, corresponding to 4% of the royalties in question from the genetically modified Intacta soybean seed.
The FDA grants Orphan Drug and Rare Pediatric Disease designations to Ultragenyx (RARE) and partner GeneTx Biotherapeutics' GTX-102 for the treatment of Angelman Syndrome.
(Bloomberg) -- Angela Merkel’s government aims to phase out herbicides containing glyphosate by the end of 2023, a move that could generate further headwinds for German drug and chemical giant Bayer AG.As part of the proposal approved by her cabinet on Wednesday, the government intends to oppose any request for the EU to renew the license to produce the weedkiller, according to a release by the environment ministry. Jurisdiction over licensing lies with Brussels and not with EU member countries."I don’t expect that there will be a majority anywhere in the EU for glyphosate after 2022," Environment Minister Svenja Schulze said at a news conference in Berlin.The move could prove a further setback for Bayer, which faces massive U.S. lawsuits alleging its Roundup herbicide causes cancer.“We disagree with the German government’s decision to ban glyphosate by the end of 2023," Liam Condon, head of Bayer’s Crop Science Division, said in a statement. "The ruling ignores decades of scientific judgment from independent regulatory agencies around the world that glyphosate is safe when used properly."The chemical industry association VCI, said the government was getting ahead of itself by banning a product before a decision had been made by the relevant European Union authority. EU law does not allow for unilateral decisions by member states, it said.“For the companies in our sector, today’s decision means a massive loss of certainty for planning,” Utz Tillmann, managing director of VCI said in a statement. “Business must be able to count on reliable conditions.”Agriculture Minister Julia Kloeckner stressed that the product continues to be legal under EU law but that farming policies would become "greener" going forward. By 2023 Germany aims to reduce the use of herbicides containing glyphosate by at least 75%.For years glyphosate has been a hot button topic in Germany, with a raging public debate over its potential impact on biodiversity and health. Last month German state-owned rail carrier Deutsche Bahn said it plans to cut glyphosate usage in half by 2020.The German government’s policy statement, which is not legally binding, follows nation-wide protests and demands from her junior coalition partner, the Social Democrats, for more decisive action on environmental issues. The renewed focus on climate has helped boost the Green Party in opinion polls, to the detriment of the mainstream parties.Two years ago the weedkiller dispute caused a storm inside Merkel’s cabinet when her agriculture minister unilaterally voted in favor of extending the use of glyphosate.(Updates with details, comments, reactions throughout.)\--With assistance from Iain Rogers.To contact the reporter on this story: Birgit Jennen in Berlin at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, ;Chad Thomas at firstname.lastname@example.org, Raymond Colitt, Andrew BlackmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bayer has lost nearly the entire value of its 2018 Monsanto purchase. Teva has already lost more than the entire value of its Actavis Generics purchase. Did antitrust regulators see that coming? Continue reading...
Bayer said it hired Johnson & Johnson executive Marianne De Backer to manage acquisitions and licensing deals at its drugs unit, as the German drugmaker turns to outside sources to boost its development pipeline. De Backer will take the role of Head of Business Development & Licensing at Bayer's pharmaceuticals division, joining from rival J&J, where she lead business development activities across different therapeutic areas and regions. Based in Berkeley, California, the Belgian national will have a more senior role than her predecessor, reporting directly to the head of pharmaceuticals, Stefan Oelrich, and taking a seat on the division's Executive Committee.
(Bloomberg) -- An army of drones deployed to fight a crop-devouring pest in a southern area of China has recorded a mortality rate of as high as 98%, according to the manufacturer.XAG, a Guangzhou-based drone maker, teamed up with Germany’s Bayer Crop Science in a drone swarm operation to kill the fall armyworm in China’s Guangxi region. The autonomous devices, loaded with low-toxicity insecticide, have also successfully managed the pests in a government-led operation in the southwest province of Yunnan, XAG said.“It is the ‘crop-devouring monster’ that attacks over 80 crop varieties,” XAG said in a statement Monday. Most farmers resort to traditional insecticide sprayers, which not only fail to move fast enough against the “ravenous, fast-moving fall armyworm” that can fly up to 100 kilometers in one night, but also expose them to dangerous chemicals, it said.This Is the Caterpillar That’s Coming for Your Lunch: QuickTakeThe fall army worm, a crop-devouring pest, has spread from the Americas to Africa and Asia, gorging on rice, corn, vegetables, cotton and more. Since arriving in China, it has advanced north, affecting 950,000 hectares of crops in 24 provinces as of mid-August, including parts of Hebei, Shaanxi and Shandong, according to an official report published late last month. Outbreaks at 90% of the affected areas are now under control, the report said.Drones can safely operate after sunset to kill the pests, which feed most actively at night, XAG said. According to a local media report, drones have also effectively helped to control the spread of the pests found in some cornfields in the northern province of Henan.To contact Bloomberg News staff for this story: Niu Shuping in Beijing at email@example.comTo contact the editors responsible for this story: Anna Kitanaka at firstname.lastname@example.org, Alexander KwiatkowskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The concept of support is not one of the first things you need to understand as an investor, but you will find it a powerful tool once you learn to use it.
Last week, President Donald Trump ordered United States companies to move their China-based operations elsewhere. The news sent the S&P 500 down by more than 2.5% in a single day of trading. The decline provided investors with some cheap stocks to buy. But which ones?A quick scan of stocks with market caps of $300 million or more that were down more than 10% over the past week brings up a total of 123 options, the largest being Dow (NYSE:DOW) at $31.3 billion and the smallest being Zynex (NASDAQ:ZYXI) at $300.9 million. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn terms of sectors that were down, healthcare saw the most carnage with 36 stocks losing more than 10% last week, followed closely by basic materials at 35 and services at 21.Of the 123 stocks that lost more than 10% last week, 95 were small-caps with a market cap between $300 million and $2 billion; 24 were mid-caps between $2 billion and $10 billion, and just four had a market cap of more than $10 billion. I've recommended two of them in my group of seven cheap stocks to buy down more than 10% last week. Stocks to Buy: Dow (DOW)Source: JHVEPhoto / Shutterstock.com Over the past five days of trading through August 26, Dow stock lost 10.5%.Dow's stock has been under pressure due to two downgrades in a less than a month from Bank of America Merrill Lynch. The analysts expect lower demand of the company's chemical products to hurt future earnings. On July 26, Bank of America Merrill Lynch cut Dow's rating from "buy" to "neutral" suggesting its chemicals business was stuck in the mud with not much optimism for growth in the near term. This came one day after releasing second-quarter 2019 results that included a 14% decline in sales to $11.0 billion, a 3% decline in volumes and a 35% drop in operating earnings before interest and taxes to $1.1 billion. "In spite of challenging market conditions, our results reflect the benefits of Dow's streamlined and more focused portfolio, continued cost synergy savings and stranded cost removal. In the quarter, we faced margin compression in our intermediate products in both our core business and equity earnings," stated CEO Jim Fitterling. Then on Aug. 16, Bank of America Merrill Lynch downgraded DOW stock a second time to "underperform" from neutral. "We do continue to hold a favorable relative view on the long-term supply for caustic soda over polyethylene, but see these commodities driven in the near-term by sluggish demand," the firm said in a note to clients.Dow stock currently yields 6.8%. Get paid 70 cents a quarter to wait for these commodities to recover. Suzano (SUZ)Source: Shutterstock Over the five days of trading through Aug. 26, Suzano (NYSE:SUZ) stock lost 13.6%. What is Suzano? It's a Brazilian company that uses renewable resources to manufacture pulp and paper made from eucalyptus forests planted specifically for this purpose. It is the first pulp and paper producer in Brazil to use eucalyptus pulp in its products.Started in 1924 by Leon Feffer, the company originally was a reseller of domestic and imported paper for business cards, writing pads, etc. In 1930, it bought its first machine and began making its own paper. The rest is history. The Feffer family and related parties own approximately 46% of the company's shares. David Ferrer is currently the company's chairman of the board. It has 13 million hectares of tree plantations, the equivalent of 200 times the size of Manhattan. It has approximately a 40% share of the Brazilian paper market with more than 35,000 clients. Suzano is by far the biggest pulp producer in Brazil with more than 10.9 million tons capacity in 2018. Over the past four years, it's lowered its cash cost by 12% from $171 per ton to $150 per ton. In April, Suzano completed its $9.3 billion acquisition of Brazilian rival Fibria Celulose to become the world's largest cellulose producer. Why is Suzano's stock down?In the first half of 2019, there was a significant imbalance between pulp supply and demand leading to lower pulp prices. As a result, Suzano's net revenues in the second quarter fell by 20% over last year while its cash cost per ton increased by 11% reducing the division's profitability. * 10 Companies Using AI to Grow Suzano's paper business did much better in the second quarter with net revenues 15% higher and its adjusted earnings before interest, taxes, debt and amortization 45% higher. This compares to a 28% decline in adjusted EBITDA for its pulp segment. Long term, I like the company's prospects, but it first has to get through the current pricing weakness in the industry due to low global demand. Elanco Animal Health (ELAN)Source: Shutterstock Over the five days of trading through Aug. 26, Elanco Animal Health (NYSE:ELAN) stock lost 13.2%.The cause of last week's decline in Elanco's stock price had everything to do with the company's announcement that it would pay $7.6 billion to buy Bayer's (OTCMKTS:BAYRY) animal health unit. Elanco is paying $5.32 billion in cash and issuing approximately 68 million shares of its stock. As a result of the deal, which will double the size of Elanco's companion animal business, the company's debt will increase to five times its adjusted EBITDA. Not only that, but Elanco's share count will increase by 18%, seriously diluting existing shareholders. As a result of the additional debt, S&P and Fitch suggested that the deal could result in a credit rating downgrade from the rating agencies. Analysts believe that Bayer got top dollar for its animal health assets. While Elanco does plan to reduce its debt to adjusted EBITDA ratio to a multiple of three from five currently, the markets believe it might have overpaid for the assets. The merged company will be the second-largest animal health business in the world behind Zoetis (NYSE:ZTS). Although there is some question about Elanco's future growth, opportunities to buy quality assets like these don't come around every day. Long term, this deal should turn out to be a good one for Elanco shareholders. L Brands (LB)Source: JHVEPhoto / Shutterstock.com Over the five days of trading through Aug. 26, L Brands (NYSE:LB) stock lost 15.0%.As if things weren't going poorly enough for the owner of Victoria's Secret and Bath & Body Works, then-CEO and founder Les Wexner got his name all tangled up with the late financier Jeffrey Epstein, who pretended to be a talent scout for the lingerie retailer. Worth several billion dollars, investors started to wonder if the man who trusted such a sinister person with some of his finances could be trusted to turn around a struggling Victoria's Secret. Now, the company has been hit with a financial class-action suit that alleges the company and its executives, including Wexner, made misleading statements about its finances and ability to pay a high dividend despite an ongoing deterioration of its top and bottom line. Essentially, the suit claims that Wexner and company were way too optimistic about the business's overall financial condition in order to keep the stock price as high as possible. However, the worst blow to LB stock came Aug. 22 when it reported poor second-quarter 2019 sales that pushed L Brands stock to levels not seen since December 2009. That's a trifecta of doom that no stock can overcome. "L Brands still believes Victoria's Secret problems are product related, but we believe they are brand and competition related which means these problems are difficult to fix," Jefferies analyst Randal Konik said in a note to clients. "Bath & Body Works comps are slowing and margins are compressing which means the biz has peaked." * 10 Undervalued Stocks With Breakout Potential If not for the success of Bath & Body Works in the past two or three years, L Brands stock would likely be in single digits. Now that Bath & Body Works growth is slowing somewhat, the only investors who should consider investing are aggressive investors willing to accept a ton of risk. As a contrarian bet, I like it. After all, when investors get fearful, it's time to get greedy. Madison Square Garden (MSG)Source: Shutterstock Over the five days of trading through Aug. 26, Madison Square Garden (NYSE:MSG) stock lost 13.9%.The company that owns the New York Knicks and Rangers as well as the iconic Madison Square Garden among its many assets, announced Q4 2019 earnings Aug. 21 that was much worse than expected. The consensus estimate for the fourth quarter was a loss of $2.51 a share with revenue of $270.1 million. MSG actually delivered a loss of $3.08, 57 cents worse than expected, and revenue of $263.6 million; a miss on both the top and bottom line. The biggest investor concern seems to be the company's spherical entertainment venue that it's building in Las Vegas. At the same time it announced earnings, company president Andrew Lustgarten let investors know that the project would cost between $1.2 billion and $1.7 billion by the time it's completed. MSG Sphere, a partnership between the company and Las Vegas Sands (NYSE:LVS), is a state-of-the-art 18,000-seat arena that's expected to open in 2021. Unfortunately, investors see the T-Mobile (NASDAQ:TMUS) Arena just down the road that was built for $375 million in 2016, and can't help but think it's nothing but CEO and controlling shareholder James Dolan's ego project. While it might be Dolan's ego driving the project in Vegas, I'm sure the venue will become just as highly visited as the rest of MSG properties. Down 15% over the past year, the poor optics of MSG Sphere make the current correction a perfect time to buy MSG stock. CrowdStrike (CRWD)Source: Piotr Swat / Shutterstock.com Over the five days of trading through Aug. 26, CrowdStrike (NASDAQ:CRWD) stock lost 10.6%.The California-based cybersecurity company has only been a public company for a little over two months selling its stock to the public June 11 at $34 a share. On its first day of trading, it gained 70.6%; it's up 161.4% through August 27, making it one of the more successful IPOs in 2019, tech or otherwise. CrowdStrike delivers its second quarterly report as a public company on Sept. 5. If Q2 2020 results are as good as the results in its first quarter, investors can rest easy. On July 19, CrowdStrike reported Q1 2020 revenue of $96.1 million, $500,000 higher than the consensus estimate while its loss per share was 47 cents, on par with the analyst estimate. In the second quarter, CrowdStrike expects a loss of between 23 and 24 cents with revenue of at least $103 million. For all of 2020, it expects a loss of 70 to 72 cents with revenue of at least $430 million. At the time of its earnings release, CEO George Kurtz said that the company -- which provides endpoint network protection for companies whose employees access remote devices such as smartphones, laptops, tablets and other wireless devices -- is benefiting from the ongoing move by corporations to the cloud. To put the company's Q1 2019 report in perspective, overall revenues grew 103% year-over-year, subscription revenues grew 116% to $86.0 million, accounting for 89% of its sales and annual recurring revenue grew 114% to $364.6 million. * 10 Marijuana Stocks to Ride High on the Farm Bill Even its non-GAAP losses were 30% lower in the first quarter compared to a year earlier. While I try not to invest in money-losing businesses, the need for CrowdStrike's Falcon platform is real. In a couple of years, you will have forgotten that it once lost money. OrganiGram (OGI) Source: Shutterstock Over the five days of trading through Aug. 26, OrganiGram (NASDAQ:OGI) stock lost 10.6%.Cannabis stocks, in general, have taken it on the chin in recent days and weeks. The ETFMG Alternative Harvest ETF (NYSEARCA:MJ), which has total net assets of $1 billion and is the largest cannabis ETF listed in the U.S., has seen its shares lose 4.9% over those five days, 16.2% over the past month, and 28.3% over the past three months. So, the fact that the OrganiGram lost almost 11% in the past week should not come as a shock. OrganiGram is one of only four licensed producers that have supply agreements for all 10 Canadian provinces, it is ideally positioned to benefit from the growth in the Canadian cannabis market. On July 15, OrganiGram reported its Q3 2019 results. The company's net revenue was $24.8 million CAD, 621% higher than a year earlier. Its gross margin in the quarter was $12.3 million CAD, 647% higher than in the same quarter a year earlier. It had a surprise loss of $10.2 million CAD in the third quarter, down from a profit of $2.8 million CAD a year earlier. But CEO Greg Engel is very excited about the company's future."We are very excited for fiscal 2020 which should build upon an already successful 2019," the company stated in its press release. "By the first half of fiscal 2020, we expect to benefit from record harvests of high-quality indoor-grown dried flower, the sale of a variety of vape pen products as well as our initial edible product forms."The company's state-of-the-art three-level indoor cultivation facility's expansion in New Brunswick will be completed by the end of 2019. At that time, it will have 113,000 kilograms of cannabis production capacity to meet the needs of all 10 provinces. As for edibles and derivative products, it expects to complete the 56,000 square-foot addition to its Moncton facility by the end of October at a cost of $48 million CAD. It is well-positioned to benefit from Canadian legalization in December. OrganiGram's chocolate products alone should bring it significant revenue in 2020. This is one of the cannabis companies I haven't paid much attention to but you shouldn't repeat my mistake. The stock's correction makes it an excellent time to take a closer look.I know I will. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post 7 Stocks to Buy Down 10% in the Past Week appeared first on InvestorPlace.
The tech sector is now under attack from the Department of Justice Antitrust Division. An investigation could increase volatility somewhat, but probably won’t amount to much in the end Continue reading...
Last week, Elanco Animal Health Incorporated (NYSE: ELAN) announced plans to acquire Bayer’s (OTC: BAYRY) Animal Health business for $7.6 billion. The purchase price of Elanco Animal Health’s deal to acquire Bayer’s Animal Health business is much lower than what some reports had speculated, Ryskin said in the note.
Five pharmaceutical companies said on Friday they have filed a complaint in a Canadian court challenging the constitutionality of new Canadian regulations meant to lower patented drug prices, setting up a fight with the federal government ahead of an Oct. 21 election. The complaint was filed in Quebec's Superior Court by the Canadian arms of U.S.-based Merck & Co and Johnson & Johnson's Janssen Inc, Germany's Bayer AG and Boehringer Ingelheim, and France's Servier Inc. The filing ratchets up a confrontation between the pharmaceutical industry and the Liberal government of Prime Minister Justin Trudeau, which has vowed to make affordability a key plank of its election campaign.
FDA approves AbbVie's (ABBV) upadacitinib to be marketed as Rinvoq. Bayer (BAYRY) is set to divest its Animal Health unit to Elanco for $7.6 billion in a cash-and-stock deal.
Ultragenyx (RARE) focuses on the development of pipeline candidates. Being a new commercial company with lower revenues, development or regulatory setbacks could result in higher operating expenses.