Costco Wholesale shares climbed higher on Friday, after the retail giant posted December sales figures that suggest solid spending during holiday period. Costco’s sales for the five weeks ending on January 5 rose +7% from a year ago to $23.8 billion, well above the Street forecasts of +3.5% growth. The figure is also a marked acceleration over the 5.3% growth of November. Comparable U.S...
Bed Bath & Beyond shares plummeted on Thursday, after the home retail company said that it may need to consider bankruptcy protection as it struggles with its turnaround plan. In a Securities and Exchange Commission filing, Bed Bath mentioned that it expects a loss of around $386 million for the three months ending on November 6, and total revenues of around $1.26 billion, but said...
RedHill Biopharma Ltd announced positive observations from a Phase 2 study of RHB-107 (upamostat) in non-hospitalized symptomatic COVID-19 patients in the peer-reviewed International Journal of Infectious Diseases. According to the results, there was a 100% reduction in hospitalization due to COVID-19, with zero patients (0/41) on the RHB-107 treated group versus 15% (3/20) hospitalized on...
Piedmont Lithium and electric-vehicle company Tesla have amended an agreement that will allow a ramping up of domestic supply of the metal to Tesla for its EV batteries. Under the amended agreement, Piedmont will deliver around 125,000 metric tons of spodumene concentrate to Tesla from the second half of 2023 through the end of 2025. Instead of locked in pricing deal in prior agreements, ,...
Chemomab Therapeutics Ltd shares jumped on Tuesday, after it reported topline results from its Phase 2a trial assessing CM-101 in non-alcoholic steatohepatitis (NASH) patients. While the trial met its primary endpoint of safety and tolerability, CM-101 achieved reductions in secondary endpoints that include liver fibrosis biomarkers and physiologic assessments measured at baseline and week...
Tesla delivered a record 405,278 new cars over the three months ending in December, which is up +31.5% year-over-year and +18.1% higher from the prior quarter. However, the figure was below analysts’ original expectations of around 450,000 (although the estimate was lowered over the past month following reports of a week-long shutdown at the electric carmaker's Shanghai factory). Deliveries...
Signals from Pattern Search Engine Tickeron is bringing high-powered Artificial Intelligence (A.I.) technology to the retail investment community that, in our opinion, rivals the technology and approach used at major Wall Street firms. The Ph. D founders of Tickeron have spent several years researching and building an Artificial Intelligence-based search engine that allows active investors to...
The Hershey Company has been sued by a consumer in the U.S. for allegedly selling dark chocolates containing harmful levels of lead and cadmium. Christopher Lazazzaro, who has filed a class action complaint at a federal court in Central Islip, New York, alleged that Hershey put out “deceptive and misleading” advertising and marketing campaign since it failed to disclose the amounts of lead...
Amidst concerns over softening demand for Tesla Inc.’s vehicles and CEO Elon Musk’s rocky rule at Twitter so far, Wedbush analyst Daniel Ives laid out his list of 10 things for a turnaround in sentiment in 2023 around Tesla shares Ives’ 10-pointer list includes the following: Musk naming a CEO for Twitter by January-end. Musk pausing his Tesla stock sales, and formally adopting a plan for...
Morgan Stanley initiated coverage on Akili Inc. with a rating of Equal Weight and a price target of $2 on the stock. According to the analyst, the digital medicine company’s product EndeavorRx could generate more than $200 million in peak sales in ADHD. EndeavorRx got marketing authorization from the FDA in mid-2020 as a medical device for patients aged 8-12 with ADHD, and a commercial launch...
Rosenblatt analyst Andrew Bond initiated coverage of Galaxy Digital Holdings Ltd. with a Buy rating and a C$6.30 price target. Galaxy operates in digital asset, cryptocurrency, and blockchain technology industry, and is involved in segments such as Trading, Asset Management, Investment Banking, and Mining. According to Bond, Galaxy Digital has a business model that can withstand volatility...
The U.S. Food and Drug Administration (FDA) approved TG Therapeutics Inc's Briumvi – a monoclonal antibody for treating patients with relapsing forms of multiple sclerosis (RMS). Briumvi is the first and only anti-CD20 monoclonal antibody approved for RMS that can be administered in a one-hour infusion following the first dose. The approval by the FDA may help offset the headwind to the...
MingZhu Logistics Holdings Ltd. announced a $34 million agreement with Xinjiang Tianfu Yitong Supply Chain Management Co, Ltd. (“Tianfu”), where the companies will partner in establishing a long-term transportation relationship. The agreement is expected to allow MingZhu’s transportation and logistics expertise to handle the transportation of bulk coal cargo between Tianfu Yitong’s operations...
Alzamend Neuro Inc .has partnered with the Miller School of Medicine, Interdisciplinary Stem Cell Institute at the University of Miami for its Phase 1/2A trial of ALZN002. ALZN002 is a patented immunotherapy method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to combat Alzheimer’s. On October 5, Alzamend announced the addition of healthy adult subject to its...
Freight Technologies, Inc., which offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMC region, now supports cross-border logistics requirements for a global electric-electronic equipment company. The equipment company has eighteen different factories and distribution centers across the U.S. and Mexico. Freight Technologies’ wholly owned subsidiary,...
Apple Inc. shares fell -3.1% to close at $126.04 -- a new 52-week low -- on Wednesday, on concerns over iPhone sales (although inching up + 0.5% in today’s pre-market trading session). The company’s stock is down more than -30% year-to-date. Several analysts have cut their price targets on the stock in recent times. On December 20, JP Morgan’s Samik Chatterjee lowered the price target to $190...
Tesla Inc. shares climbed on Wednesday, after Cathie Wood-led ARK Investment Management purchased another 25,000 shares of the EV maker at an estimated valuation of over $2 million. Since mid-December, Wood’s funds have loaded up over 232,000 shares of Tesla. The company’s shares comprise the fifth largest holding of ARK’s flagship fund, the ARK Innovation ETF with a weight of 6% and has the...
Elon Musk says Twitter should "feel faster" now, hours after users after complained about the site not functioning properly in #TwitterDown trend on the microblogging platform. Musk shared on Twitter that "significant" backend server architecture has been introduced to tackle the issue, as users experienced trouble with login and malfunctioning on the platform. In November, Twitter users...
Target launched the post-Christmas clearance sale, called 'The Target Clearance Run,' which runs through the year-end. The sale includes discounts of up to 50% on items such as toys, sleepwear, and beauty and lifestyle products. It also offers deals such as buy-one-get-one-50%-off on board games, a $15 gift card for those who spend $50 on household cleaning products like tissues, paper...
U.S. airline stocks plunged on Wednesday, following health officials’ indication that travelers from China will require a negative Covid test before entering the U.S. The testing directive will include travelers coming directly from China as well as those who visited the nation ten days before their departure to the U.S. Health officials will ask for either a negative antigen or PCR test. The...