Versant Health—a leading national managed eye health and vision plan company—announced today the formation of the inaugural Versant Health Optometric Advisory Council. The Advisory Council was formed to inform, assess, and provide feedback on the Versant Health programs, policies, and procedures that impact the optometric community.
Stocks jumped Tuesday, and the S&P 500 traded above 3,000 for the first time since March 5, as hopes for an effective coronavirus vaccine combined with optimism over updates around states’ reopenings. Each of the S&P 500 and Dow traded above 2% shortly after market open.
Four Massachusetts-based entities report positive results as they enter the first peak growing season of using a new, non-toxic weedkiller. EcoMIGHT products are designated by the U.S. EPA as minimum risk exempt, which means they "pose no harm to human health or the environment" when used as directed.
(Bloomberg) -- U.S. stocks surged to the highest since March 5 as investors speculated the worst of the pandemic’s damage to the global economy has passed after countries moved to ease lockdowns. A dollar gauge fell by the most in almost two months.The S&P 500 jumped almost 2% following a three-day holiday weekend, propelling it past 3,000 for the first time since early March. The index is now up 35% since its March low. The small-cap Russell 2000 Index rallied 3.5%, with investors pouring into some of the most beaten-down areas of the market. Energy and financial shares led the latest charge.Merck & Co. rose after it unveiled development plans on both a treatment and vaccine for Covid-19. The Stoxx Europe 600 Index rallied, with travel stocks surging on reports that Berlin plans to lift travel warnings for 31 European countries. The U.K. also announced steps toward getting back to business, sending the pound up by the most in almost a month.Japan led the equity advance in Asia as the world’s third-largest economy reopened, and shares rose in Hong Kong, which showed signs of stabilizing after weekend unrest. Treasuries slid after the three-day U.S. weekend, alongside Germany’s government debt.Investors are coming out of the holiday weekend in a risk-on mood, even as tensions between Washington and Beijing continue to flare. China condemned the U.S. for adding 33 Chinese entities to a trade blacklist, but without announcing any retaliatory steps. Meanwhile, Beijing sought to reassure Hong Kong that its judiciary would remain independent under a new national security law.Cutting against the tensions are mounting signs that coronavirus infection rates are moderating. The Japanese government ended its nationwide state of emergency Monday, while Germany recorded a decline in the number of new virus cases. Signs that more euro area stimulus is on the way is also helping support the appetite for risk.“The narrative for markets is shifting somewhat, with hopes associated with the easing of lockdown measures in many countries and still very exaggerated hopes of a vaccine being found short-term, needing to be balanced against escalating U.S./China tensions,” said Marc Ostwald, chief economist and global strategist at ADM Investor Services.Elsewhere, the euro strengthened ahead of negotiations this week on the form of a bloc-wide recovery fund. WTI crude oil advanced to around $34 a barrel on hopes the market may rebalance after historic output cuts.Here are some key events coming up:Earnings continue with companies including British Land, Royal Bank of Canada and HP Inc.Thursday brings the U.S. jobless claims reading for the week ended May 23.Federal Reserve Chairman Jerome Powell participates in a virtual discussion on Friday.These are the main moves in markets:StocksThe S&P 500 Index added 1.9% as of 9:51 a.m. New York time.The Stoxx Europe 600 Index climbed 0.9%.The MSCI Asia Pacific Index surged 2.1%.The MSCI Emerging Market Index surged 1.4%.CurrenciesThe Bloomberg Dollar Spot Index sank 0.9%.The euro rose 0.7% to $1.097.The British pound surged 1.3% to $1.2344.The onshore yuan strengthened 0.1% to 7.131 per dollar.The Japanese yen strengthened 0.3% to 107.43 per dollar.BondsThe yield on 10-year Treasuries gained three basis points to 0.69%.The yield on two-year Treasuries gained two basis points to 0.18%.Germany’s 10-year yield gained five basis points to -0.44%.Britain’s 10-year yield rose one basis point to 0.185%.Japan’s 10-year yield rose one basis point to 0.008%.CommoditiesWest Texas Intermediate crude gained 2.9% to $34.23 a barrel.Brent crude increased 2.2% to $36.32 a barrel.Gold weakened 0.2% to $1,728.82 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TransPerfect, the world's largest provider of language and technology solutions for global business, today announced that Jin Lee, Senior Vice President of Global Production, has joined the CFES Brilliant Pathways Board of Trustees.
The MAX drama isn’t over and Wall Street is still trying to figure out what it will mean to Boeing shares in the near future.
TORONTO , May 26, 2020 /CNW/ -- Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) ("MindMed" or the "Company") is pleased to announce that it has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the underwriter's over-allotment option (the "Offering"). In connection with the Offering, the Company issued 24,953,850 units of the Company (the "Units") at a price per Unit of $0.53 CAD (the "Issue Price") for gross proceeds of $13,225,540.50 . Eight Capital acted as sole bookrunner and underwriter in the Offering.
The Board of Directors of New York Community Bancorp, Inc. (NYSE: NYCB) (the "Company") announced the declaration of a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A (NYSE: NYCB PA) at the rate of $15.94 per preferred share, which equates to $0.3984 for each depositary share. Each depositary share represents a 1/40th ownership interest in a share of the Series A preferred stock.
The uncertain times of COVID-19 has pushed one of Charlotte's largest and most popular breweries to re-examine all aspects of its business in order to be able to better serve its guests once it was allowed to reopen. Brewers at 4001 Yancey, the Charlotte home to Victory Brewing Company, Southern Tier Brewing Company, Sixpoint Brewery, and Bold Rock Hard Cider, will be re-opening following all the requisite guidelines laid out by the CDC and state government. It has also reinvented its menu to allow for maximum social distancing by the kitchen staff as well as how food and drinks are served to minimize lines and the number of contacts by its staff. But it was looking to do more.
(Bloomberg) -- Bank of Nova Scotia’s quarterly earnings plunged 41% after the lender set aside a record amount for loan losses, giving investors their first indication of how the coronavirus pandemic will affect fiscal second-quarter results at Canadian banks.Scotiabank earmarked C$1.85 billion ($1.33 billion) for soured loans, less than analysts predicted. Canada’s six biggest banks are expected to set aside C$8.9 billion for loan losses in the three months through April 30, triple the first-quarter total. At Scotiabank, earnings beat analysts’ estimates even with the increase in provisions and charges tied to its shuttered metals-trading business.“Credit was largely better than expected,” Barclays Plc analyst John Aiken said in a note to clients Tuesday. Still, “the market was obviously expecting more reserves to be taken” and it’s likely “additional reserves will need to be taken in future quarters as the true impact of the pandemic will be felt.”The lender’s shares rose 4.3% to C$54.21 at 9:51 a.m. in Toronto. They’ve fallen 26% this year, compared with a 22% decline for Canada’s eight-company S&P/TSX Commercial Banks Index.Scotiabank is the first large Canadian lender to report second-quarter results. The country’s six biggest banks are expected to post a 44% profit decline in the quarter, the median of estimates compiled by Bloomberg Intelligence. That would be the biggest drop since 2009.Chief Executive Officer Brian Porter told analysts Tuesday that he expects economic declines in the bank’s core markets for the balance of the year, followed by a return to growth in 2021 on a “gradual abatement of the pandemic” and reopening of economies. Loan losses will remain elevated for the rest of the year, with the third quarter resembling the second, though he expects all main businesses to remain profitable, he said.‘Broken Eggshells’“Parts of the economy will snap back pretty quickly -- the pent-up demand, the impact of the relief programs the government has provided will have its intended impact, but we’ve never been through this before,” Porter said. “This is not a one-quarter or two-quarter event. The banking sector will be picking up broken eggshells for a number of quarters here.”Despite the surge in provisions, loans aren’t showing signs of deteriorating. Net impaired loans accounted for 0.53% of overall customer loans, down from 0.61% a year earlier, and net write-offs as a percentage of average loans totaled 0.47%, less than 0.5% a year ago.Scotiabank’s international banking business had the steepest profit decline in the quarter, falling 74% on higher provisions and lower contributions after selling some of its overseas operations as it sharpened its focus in Latin America and the Caribbean. Earnings from Canadian banking plunged 42% as provisions rose, while the bank’s global wealth management and capital markets divisions posted higher income.Trading JumpsThe Toronto-based company had a 56% jump in trading revenue in the quarter, fueled by fixed-income, echoing the trend seen by Wall Street trading desks last month when they reported their best three-month period in eight years thanks to surging client activity during the most volatile period on record. That, along with higher investment-banking fees, helped boost earnings in Scotiabank’s capital-markets division by 25% to C$523 million.Scotiabank also said it set aside C$232 million this year for U.S. regulatory probes into the bank’s metals-trading practices and costs tied to the wind-down of that business.Net income for the three months ended April 30 fell to C$1.32 billion, or C$1 a share, from C$2.26 billion, or C$1.73, a year earlier. Adjusted earnings totaled C$1.04 a share, beating the 96-cent average estimate of 13 analysts in a Bloomberg survey.(Updates with shares, CEO comments starting in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
BioArctic AB (publ) (Nasdaq Stockholm: BIOA B) announces that seven members of the company's Board and management today have exercised options to purchase shares in the company in accordance with the existing option agreements with the principal owners of BioArctic AB.
Last week Jim Cramer favored Splunk Inc. , an analytics company that reported earnings last week and can actually make a forecast despite Covid-19 and the work-from-home movement. In the daily bar chart of SPLK, below, we can see that the shares made a swift decline from February into March but have since climbed to a new high. The daily On-Balance-Volume (OBV) line made a modest decline in February and March and now stands at a new high for the move up.
Allied Market Research published a report, titled, "Hydroxyapatite Market by Type (Nano-sized, Micro-sized, and Greater than Micrometer) and Application (Orthopedic, Dental Care, Plastic Surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global hydroxyapatite industry was estimated at $2.46 billion in 2019, and is anticipated to hit $3.65 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.
Merck & Co. (MRK) on Tuesday became the latest drugmaker to join the race for the development of a COVID-19 treatment by announcing the purchase of Austrian vaccine maker Themis Bioscience and the collaboration with non-profit research group IAVI.Shares in Merck rose 4% to $79.40 in U.S. pre-market trading. The drugmaker said that the Themis acquisition builds upon an ongoing collaboration between the two companies to develop vaccine candidates using the measles virus vector platform, and is expected to accelerate the development of Themis’ COVID-19 vaccine candidate. The vaccine candidate is in pre-clinical development, and clinical studies are planned to start later in 2020.In addition, Merck announced a new collaboration with IAVI, a non-profit scientific research organization, to advance the development and global clinical evaluation of another vaccine candidate for the prevention of COVID-19.This vaccine candidate will use the recombinant vesicular stomatitis virus (rVSV) technology that is the basis for Merck’s Ebola Zaire virus vaccine, ERVEBO (Ebola Zaire Vaccine, Live), which was the first rVSV vaccine approved for use in humans. The vaccine candidate is in preclinical development, and clinical studies are planned to start later this year. Merck will manage the regulatory filings globally.Furthermore, Merck has also signed an agreement with the U.S. Biomedical Advanced Research and Development Authority (BARDA), to provide initial funding support for this effort.“Merck is collaborating with organizations around the globe to develop anti-infectives and vaccines that aim to alleviate suffering caused by SARS-CoV-2 infection,” said Roger M. Perlmutter, President of Merck Research Laboratories. “Merck and IAVI are eager to combine our respective strengths to accelerate development of an rVSV vaccine candidate, with the goal of blunting the trajectory of the COVID-19 pandemic.”Lastly, Merck and biotech company Ridgeback Bio announced a collaboration to advance the development of EIDD-2801, an oral antiviral candidate for COVID-19. Under terms of the agreement, Merck will get exclusive worldwide rights to develop and commercialize EIDD-2801. Ridgeback Bio will receive an undisclosed upfront payment, specified milestones and a share of EIDD-2801 net proceeds, if approved. Meanwhile, Merck will be in charge of clinical development, regulatory filings and manufacturing.Shares in Merck appreciated some 15% in the past two months after losing about a third of their value this year.Following Merck’s announcements, Mizuho Securities analyst Mara Goldstein reiterated a Buy rating on the stock with a $100 price target.“As a major player in vaccine development (also the first licensed Ebola vaccine), this move makes sense,” Goldstein wrote in a note to investors. “Given the scope of the global viral outbreak, we see room for multiple vaccine and therapeutic options.”Overall, the stock has bullish support from the Street scoring 8 Buy ratings and 2 Hold ratings from analysts which makes the consensus a Strong Buy. The $92.10 average price target suggests 19% upside potential in the shares in the coming 12 months. (See Merck stock analysis on TipRanks).Related News: Novavax Begins Human Testing For Covid-19 Vaccine, Expects Results In July Regeneron and Sanofi’s Dupixent Shows ‘Positive’ Trial Data, Meets Co-Primary Endpoints Regeneron To Repurchase $5 Billion Stake From Sanofi More recent articles from Smarter Analyst: * Texas Capital CEO Resigns As Independent Bank Merger Terminated; Analyst Downgrades Stock * Aurinia Submits FDA New Drug Admission For Novel Voclosporin Kidney Treatment * China’s Tencent To Pour $70B Into ‘New Infrastructure’ Including AI * Australia’s New Century In Talks To Buy Vale’s Nickel, Cobalt Mine
Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Andy Serwer discuss states slowly reopening their economies, and what we can learn from how Maine is handling reopening.
Martello Technologies Group Inc. ("Martello" or the "Company") (MTLO.V) is pleased to announce that it has closed its previously announced bought deal public offering (including the exercise in full of the underwriters’ over-allotment option), resulting in the issuance by Martello of 32,861,250 units (the "Units") at a price of $0.21 per Unit (the "Offering Price"), for aggregate gross proceeds of $6,900,863. The Offering was led by PI Financial Corp. and Eight Capital as co-lead underwriters on behalf of a syndicate of underwriters (collectively the "Underwriters").
Textainer Group Holdings Limited (NYSE:TGH) shareholders should be happy to see the share price up 14% in the last...
Forty-seven percent of small business owners have let go of employees since March 2020 due to disruption caused by the coronavirus (COVID-19) pandemic, but 36% hope to re-hire in a year, according to new data gathered by SCORE, the nation's largest network of expert, small business mentors. Business owners report mixed responses to the CARES Act, citing that direct payment to individuals was the most helpful aspect. Currently, one-third (32%) of small businesses have received outside financial relief from non-governmental sources, including delays for existing loan payments, improved payment terms from vendors and expanded lines of credit.
As the world continues to grapple with the impacts of the COVID-19 pandemic, a new study from Banfield Pet Hospital® reveals how weeks of increased time spent at home has affected pets and their owners. As a result of the stay-at-home orders, key findings reveal 84 percent of owners feel more attuned to their pet's health and 67 percent plan to make changes to how they care for their pet, suggesting quarantining with our cats and dogs is about more than extra playtime and treats – it may have lasting effects on how people approach pet ownership.
AJC Advocacy Anywhere Viewers Top 2.4 MillionPR NewswireNEW YORK, May 26, 2020NEW YORK, May 26, 2020 /PRNewswire/ -- The number of viewers watching AJC Advocacy Anywhere sessions, since the program's inception in March, now exceeds 2.
Lufthansa <LHAG.DE> is hoping for a quick nod from the European Commission for its 9 billion euro ($9.8 billion) bailout agreed on Monday to make sure the cash arrives in time for the company to stay afloat. Lufthansa's supervisory board is expected to meet Wednesday to sign off on the rescue deal and the invitation for an extraordinary shareholder meeting is expected shortly thereafter, the sources said. Lufthansa's owners need to agree to the bailout, which includes Germany taking a 20% stake in the carrier and the injection of 5.7 billion euros in non-voting capital.
Airbnb bookings are rebounding as Americans rush to book post-lockdown vacation rental stays, according to AllTheRooms Analytics, a provider of short-term rental analytics.
New York, New York--(Newsfile Corp. - May 26, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ryder System, Inc. (NYSE: R) ("Ryder" or the "Company") of the July 20, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi logoIf you invested in Ryder System stock or options between July 23, 2015 ...