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News For GOOGL From the Last 2 Days
Jun 24, 2017 | 13:47 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. SENATE DRAFT OF OBAMACARE REPLACEMENT: Many healthcare stocks were strong on Thursday after Republican leaders in the Senate released a draft of their proposed bill to repeal-and-replace the Affordable Care Act, otherwise known as "ObamaCare." Jefferies analyst David Windley said the rally was appropriate given the "anemic" rewrite of the AHCA healthcare bill, while Leerink analyst Ana Gupte also said she views the draft version of the bill as better than expected. Stabilization of the Exchanges and risk stabilization is a direct positive for health insurers and indirect positive for facility operators, while the Senate bill maintains the House bill's plan to repeal all "ObamaCare" industry fees and taxes, which is a positive for Managed Care and Medical Technology players, Gupte noted. 2. BIOTECH BOUNCEBACK: Many biotech and pharmaceutical stocks outperformed the broader market this week amid reduced anxiety around White House drug control actions. In a report published Tuesday, the New York Times said a draft of an executive order on drug prices "is light on specifics" but clear in its philosophy that easing regulatory hurdles for the industry is the best path to get prices down. Leerink analyst Geoffrey Porges attributes the recent strength in the biotech sector to a lessening of the perceived fears of pricing regulations and a favorable tone from the FDA. However, he believes the sector could advance at least 15% more, as he foresees more positive operating results and still expects more industry consolidation. Among large cap biotech names, Porges maintains Outperform ratings on Regeneron (REGN), Celgene (CELG), Vertex (VRTX) and Alexion (ALXN). 3. STEEL: Deutsche Bank analyst Jorge Beristain upgraded U.S. Steel (X) and AK Steel (AKS), both to Buy from Hold, as he thinks underlying U.S. economic activity appears positive and supportive trade policy actions could be a catalyst to change investor perception of the metals space. Imports should subside once Section 232 is formerly released and signed into law. The Commerce Department's findings from its section 232 investigation into cheap steel imports are anticipated by the end of the month. If Commerce finds that cheap imports are a matter of national security, it will open the way for President Trump to implement sweeping trade reforms. 4. TECH COUNCIL: On Monday, the Trump Administration hosted the first meeting of the president's American Technology Council, which has been tasked to help transform and modernize the federal government. CEOs in attendance included Apple's (AAPL) Tim Cook, Amazon's Jeff Bezos (AMZN), Microsoft's (MSFT) Satya Nadella, IBM's (IBM) Ginni Rometty, MasterCard's (MA) Ajay Banga, Oracle's (ORCL) Safra Catz, VMware's (VMW) Pat Gelsinger, Intel's (INTC) Brian Krzanich, Akamai's (AKAM) Tom Leighton, SAP's (SAP) Bill McDermott, Qualcomm's (QCOM) Steven Mollenkopf, Adobe's (ADBE) Shantanu Narayen, Accenture's (ACN) Julie Sweet and Alphabet (GOOGL) Chairman Eric Schmidt. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
Jun 23, 2017 | 06:19 EDT
Alphabet's (GOOG, GOOGL) Waymo has hired Satish Jeyachandran, former director of hardware engineering at Tesla (TSLA), to lead its hardware team, handling development of cameras, radar, lidar and computer vision, Bloomberg reports, citing his LinkedIn. The hire comes as the company's mobility division nears commercializing its autonomous vehicle technology. Reference Link
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