Apple's new MacBooks delight critics, investors should care too, Barron's says » 10:0311/2811/28/20
Critics have been raving…
Critics have been raving about Apple's (AAPL) MacBook Air, MacBook Pro and Mac mini, which are all powered by Apple's new M1 chip, Alex Eule writes in this week's edition of Barron's. The reviews featured benchmarking scores that showed the base-level MacBook outperforming some of the most expensive Macs, which still use chips from Intel (INTC), the author adds. Apple consumers are happy again and investors shouldn't tune out Mac developments, Eule contends. Reference Link
Cassava says USAN modifies drug candidate's chemical name to simufilam » 08:3211/2711/27/20
Cassava Sciences announced that the World Health Organization advised the United States Adopted Names Council to modify the chemical name of the Company's lead drug candidate to 'simufilam.' This change was advised by WHO to avoid a potential trademark conflict with a drug marketed in the Far East. USAN has accepted WHO's advice. Future references to Cassava Sciences' lead drug candidate for Alzheimer's disease will be simufilam.
FDA says approval of remdesivir met 'legal and scientific standard' » 13:2711/2511/25/20
The Food and Drug…
The Food and Drug Administration said the approval of Gilead's remdesivir, known as Veklury, for the treatment of patients hospitalized with COVID-19 met the "legal and scientific standard." FDA's approval of remdesivir was supported by the agency's "independent, in-depth analysis of data from three randomized, controlled clinical trials that included patients hospitalized with mild-to-severe COVID-19," the agency said in a statement. It added, "FDA is aware of the preprint describing the results of the SOLIDARITY trial, a World Health Organization-sponsored, open-label, randomized trial comparing different investigational interventions plus standard-of-care to standard-of-care alone in hospitalized patients with COVID-19. One of the drugs studied in SOLIDARITY was Veklury. The SOLIDARITY trial's primary goal was to assess for effects of treatment interventions on in-hospital mortality. Like the ACTT-1 trial discussed above, the SOLIDARITY trial did not find a statistically significant difference in mortality between the Veklury arm and the standard-of-care arm." Reference Link
Tiger Global led $131M in Series C funding for U.S. 'challenger bank' Current » 17:5111/2411/24/20
GS, PYPL, SQ, ALLY, COF, DFS
Mobile banking app…
Mobile banking app Current, which describes itself as a "challenger bank," announced on its website has raised $131M in Series C funding. Current continued, "New investor Tiger Global Management led the round for the mobile bank, which has now raised over $180M in total funding and has a valuation of $750M. The new capital follows a year of exponential growth for Current, which has doubled its member base in less than six months to surpass two million members. Revenue has also increased over 500 percent year over year to firmly establish the challenger bank as an industry leader in the U.S. We have seen a demonstrated need for access to affordable banking with a best-in-class mobile solution that Current is uniquely suited to provide," said Stuart Sopp, CEO and Founder, Current. "We are committed to building products specifically to improve the financial outcomes of the millions of hard-working Americans who live paycheck to paycheck, and whose needs are not being properly served by traditional banks. With this new round of funding we will continue to expand on our mission, growth and innovation to find more ways to get members their money faster, help them spend it smarter and help close the financial inequality gap." Publicly traded companies in the space include Goldman Sachs (GS), with its Marcus unit, PayPal's (PYPL) Venmo, bankers like Ally Financial (ALLY), Capital One (COF), Discover (DFS) and Square (SQ). Reference Link
Atea Pharmaceuticals initiated with an Outperform at Evercore ISI » 16:5811/2411/24/20
Evercore ISI analyst Umer…
Evercore ISI analyst Umer Raffat initiated coverage of Atea Pharmaceuticals (AVIR) with an Outperform rating. The analyst noted that oral antivirals for COVID-19 are still important, and that Atea is heading into a Phase 3 trial with an oral antiviral shortly. Raffat believes an antiviral Phase 3 trial for Atea could be better designed than how Gilead (GILD) ran it earlier in the pandemic.
Arcus Biosciences initiated with a Buy at Berenberg » 06:3711/2411/24/20
Berenberg analyst Zhiqiang Shu initiated coverage of Arcus Biosciences (RCUS) with a Buy rating and $50 price target. Arcus' potential to develop therapies for multiple cancers is under-appreciated, contends Shu, who views the ten-year collaboration with Gilead (GILD) as "a vote of confidence" in Arcus.
Intel quietly shuts down AR/VR project Intel Studios, Protocol reports » 06:1211/2411/24/20
Intel quietly shut down…
Intel quietly shut down Intel Studios, a 10,000-square-foot volumetric capture stage in Los Angeles, last month, Protocol's Janko Roettgers reports. Intel confirmed the closure in a statement sent to Protocol: "We're proud of the impact Intel Studios has made in the industry and its role in growing the immersive entertainment category. Although we are closing Intel Studios due to business conditions, we look forward to where the entertainment industry moves in the future." The AR/VR project was opened in early 2018. Reference Link
VeriSign reports Q3 domain name registrations 370.7M, up 0.2% from Q2, up 3% y/y » 16:3011/2311/23/20
VeriSign announced that…
VeriSign announced that Q3 of 2020 closed with 370.7 million domain name registrations across all top-level domains, an increase of 0.6M domain name registrations, or 0.2%, compared to the second quarter of 2020. Domain name registrations have grown by 10.8M, or 3.0%, year over year. The .com and .net TLDs had a combined total of 163.7 million domain name registrations in the domain name base3 at the end of the third quarter of 2020, an increase of 1.7 million domain name registrations, or 1.0 percent, compared to the second quarter of 2020. The .com and .net TLDs had a combined increase of 6.3 million domain name registrations, or 4.0 percent, year over year. As of Sept. 30, 2020, the .com domain name base totaled 150.3 million domain name registrations, and the .net domain name base totaled 13.4 million domain name registrations. New .com and .net domain name registrations totaled 10.9 million at the end of the third quarter of 2020, compared to 9.9 million domain name registrations at the end of the third quarter of 2019.
Gilead put volume heavy and directionally bearish » 10:3511/2311/23/20
Bearish flow noted in…
Bearish flow noted in Gilead with 11,604 puts trading, or 3x expected. Most active are 11/27 weekly 55 puts and 11/27 weekly 57 puts, with total volume in those strikes near 10,200 contracts. The Put/Call Ratio is 1.54, while ATM IV is up over 1 point on the day. Earnings are expected on February 2nd.
Cantor Fitzgerald biopharma analysts to hold analyst/industry conference call » 10:2511/2311/23/20
GILD, LLY, REGN, HGEN
Biopharmaceuticals Analysts Chen & Kim and Biotechnology Analyst Young, along with Gerald Pier, PhD, Professor of Medicine, Microbiology & Immunology at Harvard Medical School, discuss Monoclonal Antibodies to treat COVID-19 on an Analyst/Industry conference call to be held on November 23 at 11 am.