SAN JOSE, Calif., Nov 10, 2020 (GLOBE NEWSWIRE) – AnPac Bio-Medical Science Co. Ltd. (« AnPac Bio » or « The Company » or « We ») (NASDAQ: ANPC ), A biotech company operating in China and the United States, announced today that the company has completed an FDA-EUA-SARS-CoV-2 (COVID) -19) verification of the antibody test at the San Jose, California laboratory in November 2020 for the Roche Elecsys Anti Sars test. -COV-2, which is now able to enter the commercial testing phase The company also announced that the COVID-19 antibody testing equipment has also completed its installation in the Philadelphia lab.
Anpac Bio has focused on developing and marketing COVID-19 TEST products and services in both the United States and China As cases of COVID-19 continue to rise and there are no clear short and medium term containment measures on the horizon, COVID-19 tests are likely to become long-term It is widely required Additionally, COVID-19 antibody testing is likely to become increasingly valuable as a measure of the potential effectiveness of COVID-19 vaccines, and in helping employers ensure office safety and productivity alongside AnPac Bio’s vision and goal of developing and delivering products. And new testing services, the company is fully committed to qualifying and marketing COVID-19 tests in both the US and China
The verification and commercialization of COVID-19 antibody tests in the United States is a major milestone for AnPac Bio, as this is the first commercial test in the United States by the company. In addition, the COVID-19 antibody tests will also be offered. 19 at the company’s lab in Philadelphia, where COVID-19 antibody testing equipment was installed for COVID-19 antibody tests, after all appropriate requirements were met in the first half of 2021
In addition to COVID-19 testing products and services, the company’s top priority continues to be the commercialization of cancer screening tests and medical device, specifically Cancer Differentiation Analysis (CDA) technology, with Active Medical Device Class III CDA products registering and validating work in China. CDA test as an advanced laboratory test (LDT) in the US
CEO of AnPac Bio, Dr Chris Yu commented: “The successful verification and commercialization of the COVID-19 antibody test in our San Jose lab is a milestone that it indicates that AnPac Bio has entered into The commercialization phase and revenue generation in the US Moreover, with the addition of the much larger Philadelphia lab (once verified in the lab) planned for both the COVID-19 antibody tests and the CDA cancer screening tests (once the LDT test is approved), we will operate To accelerate marketing and revenue growth in the United States «
AnPac Bio is a biotech company focused on early detection and detection of cancer, with 128 patents issued as of June 30, 2020 by two accredited clinical laboratories in China, a CLIA and CAP accredited clinical laboratory, and a CLIA registered clinical laboratory in the United States. , AnPac Bio performs a range of cancer detection and detection tests, including CDA (Cancer Differentiation Analysis), Biochemistry, Immunological Tests and Genomics According to Frost & Sullivan, AnPac Bio was ranked third globally and first in China among Companies offering the next generation of early cancer detection and detection technologies in terms of the number of clinical samples for cancer screening and detection, based on nearly 41,700 clinical specimens as in May 2020, AnPac Bio’s CDA technology platform was featured in retrospective verification studies To be able to detect risks of more than 20 different types of cancer with high sensitivity and specificity
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Article 21E of the Securities Act 1934 These forward-looking statements have been prepared under the provisions of the « safe harbor » of the Securities Litigation Reform Act 1995 relating to In the future financial and operating performance of the company, the company tried to define forward-looking statements through terms including “believes,” “estimates,” “expects,” “expects,” “plans,” “projects,” “intent,” “potential,” and “objective. “Goal, forecast, expectations, research, objective, goal, assumption, thinking, continuation, situation, prediction, potential,” Possibly, “could” or “may” or “would” or “should” or “approx” or other words convey uncertainty about future events or outcomes to identify these forward-looking statements These statements are based on current expectations, assumptions and uncertainties involving judgments about Among other things, future economic, competitive and market conditions and future business decisions, which are difficult or impossible to predict accurately and many of them Outside of the Company’s control, this data also includes known and unknown risks, uncertainties and other factors that may cause the actual results of the company to be materially different from those expressed or implied through any forward-looking statement that includes known and unknown risks, uncertainties and other factors, for example. But not limited to, implementing our business model and our growth strategies; Trends and competition in the cancer screening market; Our expectations regarding the demand and market acceptance of our cancer screening and detection tests and our ability to expand our client base; Our ability to obtain and maintain intellectual property protection for our CDA technology and our continuous research and development to keep pace with technological developments; Our ability to obtain and maintain regulatory approvals from the relevant NMPA, FDA, and U.S states that our laboratories are accredited or accredited by authorities including the CLIA; Developing our future business, financial condition, results of operations, and ability to obtain cost-effective financing; Potential changes to government regulations; General economic and trade conditions in China and elsewhere; Our ability to recruit and maintain key employees; Our relationship with our partners and major clients; The duration of the outbreak of the Coronavirus and its potential negative impact on economic conditions, financial markets, our business and our financial performance, such as the result of reduced commercial activities due to quarantine and travel restrictions imposed by China, Q and many other countries around the world to contain the spread of the virus In addition, all forward-looking statements are subject to « Risk Factors » detailed from time to time in the Company’s most recent annual report in Form 20-F and other filings with the US Securities and Exchange Commission due to these and other risks, uncertainties and assumptions, should not be relied unnecessarily on these forward-looking statements. In addition, These statements are only spoken as of the date of this press release, and except as may be required by law, the company does not undertake any obligation to review or update any forward-looking statements publicly for any reason.
Bond investors should consider these dividend stocks Many income investors turn to the stock market for steady and steady returns Morningstar has a « buy » rating and a fair value estimate of $ 37 a share.
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Pfizer Inc. (NYSE: PFE) on Monday with strong interim efficacy data for the third stage of a coronavirus vaccine candidate Pfizer analyst: Morgan Stanley David Risinger got an equal rating on Pfizer with a price target of $ 42 the analyst at SVB repeated Lerink Jeffrey Burgess assesses market performance and increases target price from $ 43 to $ 44 Morgan Stanley On Pfizer’s Vaccine Economics, Timeline: Over 90% efficacy with 94 cases indicates that final analysis with 164 cases will in all likelihood exceed the FDA’s effectiveness criteria of 50% Building on this and not having any serious safety concerns, the analyst raised the probability of a vaccine success from 65% to 100%, as Risinger said in a note, with Pfizer planning to introduce emergency use permission in the third week of November – when it has two months of data. Medium safety – Risinger said he expects the Food and Drug Administration (FDA) to hold a meeting to discuss the data by early to mid-December and said approval of emergency use for health care workers and some population groups is End-to-end risk could come by late December, Risinger said that after six months of safety data, full approval is likely to come in the spring Related link: Biotech Next Week: Supernus, Sanofi Await FDA Decisions Morgan Stanley estimates economically adjusted vaccine revenues by 50% and a 100% risk rate of $ 488 million for Pfizer in 2020, with revenue increasing to $ 7 $ 2 billion in 2021 and then moderation to $ 3 $ 8 billion in 2023 How Pfizer’s high effectiveness could lead to early adoption: High efficacy of the vaccine The absence of new safety signals increases the likelihood of SVB Leerink’s success from 80% to 100%, Borg said in a note, and the analyst said: “We believe that this high efficacy could increase the initial adoption of the vaccine, and thus increase our expectations by 10-40% in 2022. -2023 » Given the likelihood that other candidates will demonstrate similar vaccine efficacy and compete for market share as unit prices fall in subsequent years, SVB Leerink lowered its estimate for BNT162b2 by 10% -20% for 2026 and beyond. The company’s global vaccine revenue forecast for Pfizer is $ 258 million in the fourth quarter. This will increase to $ 4 $ 6 billion in 2021 before it drops to $ 2 $ 8 billion by 2023 and the plateau is between $ 1 billion and $ 1 billion. Burgess said that $ 6 billion in the period from 2026 to $ 2029 therefore, SVB Leerink increased its total revenue and forecast. Pfizer’s earnings per share for the period 2022-2023 at 2% -3% p.a. PFE price action: Upon last examination, Pfizer shares traded down 14% to $ 38 Tue 61 Related link: Biotech investor attention: Flag your calendar for dates PDUFA for November These latest reviews for PFE DateFirmAction FromTo Nov 2020Bernstein Coverage begins in market performance in October 2020SVB LeerinkMaintainsMarket Leads October 2020 Stocks Coverage begins OnBuy View More Analyst Reviews for PFE View More Analyst Ratings Here to Trade Options From Benzinga * The Daily Biotech Pulse: Lilly’s COVID-19 Approved Antibody Treatment for Emergency Use Supernus Facing Double Regulatory Relapses, Revance, Arena Flunk Studies Midstage * What It Means New Corona Virus Vaccine Data From Pfizer For Moderna (C) 2020 Benzinga.com Does Not Provide Banzenga Investment Advice All Rights Reserved
With Joe Biden President-elect, the prevailing view is that alternative energy stocks are in line with consolidation however, some in the sector hardly need a helping hand, notably Plug Power (PLUG) the hydrogen fuel cell manufacturer has made the most of its thirst Investors for new energy stocks in 2020, as in this process achieved huge profits of 533% of shares over the year In addition to the bullish situation, the company just released another excellent quarterly financial report, in the third quarter, revenues reached US $ 106 99 million, worth a 799% annual increase and exceeded Estimates of $ 1 23 million PLUG scored a win over the bottom line as well with EPS Non-GAAP at a value – $ 0 04 comes in $ 0 03 ahead of estimates Moreover, outlook remains positive PLUG raised its overall billing estimate for fiscal year 2020 to between $ 325 and $ 330 million From $ 310 million Street was asking for $ 314 million Oppenheimer’s analyst, Colin Roche, was « encouraged » by the increasing adoption of the company’s forklift solutions, and is excited by PLUG’s bullish stance on potential Its solutions to replace diesel generator sets and provide backup power for data center applications While Rusch admits that PLUG’s massive stock gains may raise questions about the hot valuation, it is not enough to detract from the bullish case, the five-star analyst said: “As investors look to exposure to the growth of hydrogen vehicles, we believe that PLUG is the best to leverage all major areas of the supply chain with differentiated and commercially proven technologies “We believe valuation is the bigger question for investors as the market negotiates growth multipliers in the context of potentially stable tax policy and historically low interest rates. Given the size of the opportunity and the IP portfolio of the PLUG, we are raising our PT in line with our disruptive technology counterparts. And the current market dynamics where we maintain our constructive stance on stocks. ”The price hike is a significant increase – doubling from $ 13 to $ 26. The new figure denotes a 15% rise from current levels as a result. Rusch maintains its outperformance (i e buy) on Plug posts. Intact Power (to see Rusch’s record, click here) The Rise of Plug Power offers analysts an interesting puzzle.On the other hand, based on the critical 10 buy rankings with no comment or sell, analysts’ consensus is a strong buy however, fixed share gains mean 20 $ 89 Average Target Price Indicates Modest Rise ~ 4% Next Year (See PLUG Stock Analysis at TipRanks) To find good stock trading ideas with attractive valuations, visit Best Stocks to Buy From TipRanks, a newly launched tool that unifies all equity insights for TipRanks Disclaimer: The opinions expressed in this article are only those of a premium analyst. The content is intended for use for informational purposes only. It is very important to do your analysis before making any investment.
Ray Holgado, a former Chan Zuckerberg Initiative employee, recently filed a racial discrimination complaint with the California Department of Fair Employment and Housing Holgado, and he’s black, worked for CZI from September 2018 through August 2020 Holgado’s complaint states that « despite a letter Social justice, Czechoslovakia is not a welcoming environment for black employees
Gage Penny is on her way out of bankruptcy by Thanksgiving, after Yus Bankruptcy Court has agreed to sell a sick 118-year-old retailer to the two largest owners and major lenders YOS Bankruptcy Court in the Southern District of Texas approved a purchase agreement, announced earlier this fall, that largely involved all of JC Brookfield Asset Management Inc. acquired the assets of Penny Retail, Operating and The Simon Property Group through a combination of cash debt And new loans for IG Benny filed for Chapter 11 bankruptcy protection in May, becoming one of the largest retailers to do so during the pandemic amid a wave of store closures imposed by the spread of COVID-19 infection in the United States.Q
U-o-The presidential election is nearing its end, Wall Street is not opposed to a change of administration Last week saw the S&P 500 achieve its second best performance in an election week ever, even as Trump’s chances of re-election diminishJohn Stoltzfuss, chief investment strategist, pointed out to Oppenheimer, “What seems clear so far is that stock markets are not averse to a change of administration at the state level at least as long as Republicans maintain control of the Senate checks and balances are known to be ‘on the Hill’. A mission for investors throughout present history in our view is not an exception. ”However, there is some ambiguity surrounding the Senate, as the second election for seats in Georgia is scheduled for January 5, just 15 days before the inauguration day however, Stoltzfus points out that the continuation of Better-than-expected third-quarter results from companies listed on S&P 500, economic data related to job gains and a sharp drop in unemployment rate have also helped support stocksWith Stoltzfus’ view in mind, we wanted to take a closer look at three stocks that garnered a round of applause from Oppenheimer, with the company’s analysts predicting a 100% probability increase for each of them using the TipRanks database, knowing that the rest of the street is in agreement, the three boast. By consensus analysts Strongbridge Biopharma (SBBP) First we have Strongbridge Biopharma, which focuses on developing treatments for rare diseases with high unmet need before introducing a master regulatory file. Oppenheimer believes that SBBP $ 2 a share price reflects 12 attractive entry points Company Representative, Analyst Hartag Singh indicates that investor focus has fallen squarely on Recorleaf, the company’s investigational cortisol synthesis inhibitor, in Cushing’s syndrome the company is preparing to introduce a non-disclosure agreement for treatment in the first quarter of 2021, and the analyst is optimistic about his potential approval In the LOGICS study, the treatment achieved its primary endpoint , Where SBBP reported that the number of cases of loss of the urine-free cortisol response (mUFC) was 545% higher among patients who withdrew from placebo versus those who remained In addition, there was a rapid reversal of the benefits of Recorleaf treatment on cholesterol after switching to placebo given the 8-week time frame. Meanwhile, in the SONICS study, a significant benefit in normalizing mUFC was observed in 30% of patients and many secondary procedures. Cardiovascular It should also be noted that none of the 44 randomized patients were discontinued due to adverse events’ Post-LOGICS, we continue to view Recorlev as a differentiated treatment for Cushing, compared to off-label ketoconazole and the branded nature of the treatment the administration has reiterated its confidence. In drug niche, based on market research with payers and clinicians as LOGICS reaffirms the clinical benefits profile observed in SONICS, we have been encouraged by its ability to become an essential treatment for disease, ‘Moreover, management does not expect the AdComm meeting, Singh thinks the speculation Safety and efficacy may increase prior to potential PDUFA decision on labeling and to that end, it expects more visibility as the application approaches NDA and is accepted. Add to the good news. , The launch of Keveyis, the FDA-approved treatment for hyperkalemia, hypokalemia and related variants of primary periodic paralysis (a very rare neuromuscular disorder) is progressing well despite the COVID-19 pandemic, according to Singh, « with a quarter of sales. Annual of approximately US $ 8 0 million, higher than our estimates of about US $ 7 million, the increased path to launch has been encouraging, with additional room for long-term growth highlighted by management we expect more credit to be credited to these efforts, following additional updates of LCM strategies. To this end, Singh rates SBBP shares in an outperformance (i e buy) with a price target of $ 7, ”the analyst commented. What’s the benefit of that for investors? Upside potential of 233% (To see Singh’s record, click here) Overall, other analysts echo Singh’s sentiments. 3 Buying, no holding or selling adds to the solid buy consensus rating with an average target price of $ 8, the potential upside comes at 272% (See SBBP stock analysis on TipRanks) Molecular Templates (MTEM) Molecular Templates are bringing the next generation of immunotoxins called Engineered Toxin Bodies (ETBs), a new class of therapies with unique biology and a different mechanism of action, to the market despite comments One of her clinical trials in part, except that Oppenheimer still believes that the narrative of long-term growth is robust. A phase II monotherapy trial was developed to evaluate the main candidate MT-3724, ETB targeting CD20 (a B cell marker that is expressed in 90 percent of Non-Hodgkin’s B-cell lymphoma (NHL)), in partial clinical comment on November 4 post-treatment-related management indicated capillary leak syndrome (CLS) as the cause of patient death MT-3724 is being evaluated in three ongoing trials of phase II, one treatment and one treatment It should be noted that six patients (one who died and five were treated in the mono-DLBCL study) received the drug from the same batch, and the first five completed the study without evidence of CLS. The subsequent PK analysis found the highest levels of drug exposure (Cmax) 3-4 times the levels expected in five of the All six patients receiving treatment from the batch, management plans to investigate why Cmax levels are so high, Kevin Dejeter Oppenheimer told clients, “We are looking to pool MTEM stocks at any weakness based on expectations: 1) Manufacturing batch inconsistency may have increased Cmax in a limited number of patients Who provide a clear pathway to remedy the problem, 2) a limited reading on immunity from MT-3724 (produced only on the backbone of ETB first-generation backbone) to other pipeline programs, and 3) a cautious expectation of commercial opportunities for MT-3724 prior to clinical waiting with Market opportunity focused primarily on rescue patients’ Even if CLS is identified as dose-related, the five-star analyst argues that there may still be a way forward for MT-3724, as a monotherapy study evaluates a dose of 50 mcg / kg During studies, pain Knee with a rating of 10-25 mcg / kg dose, reflecting another positive, the comment does not affect product studies on the backbone of the second generation of ETB, including MT-5111, TAK-169 and MT-6402 In addition, the company is set to provide Clinical update on CTX001, a potential treatment for sickle cell anemia (SCD), DeGeeter said, “Our investment thesis is based, at least in part, on the ETB platform’s ongoing partnership with large biotechnology companies to achieve goals outside of MTEM’s primary oncology focus despite commentary Clinical on MT-3724, MTEM is still in active discussions with potential partners. We will look at additional partnership deals as verification of the overall security profile of the platform « In line with his optimistic approach, DeGeeter ranks MTEM as Superior (i e Buy) along with price target 20 USD This number indicates a 123% possibility of a rise from current levels (to see DeGeeter’s track record, click here) Do other analysts agree? They only have buy valuations released, 3 to be exact, in the last three months so, the message is clear: MTEM is a strong buy given the $ 1,833 average target price, stocks could rise 108% in the next year (see stock analysis MTEM at TipRanks) Provention Bio (PRVB) At the forefront of the autoimmune disease field, Provention Bio is improving the lives of patients from all over the world As the company makes significant progress in its efforts to gain approval for one of its treatments, Oppenheimer thinks it is time to grab the stock. November, Provention Bio announced that the rolling submission of the BLA to the FDA for regulatory approval for teplizumab to delay or prevent clinical type 1 diabetes (T1D) in at-risk individuals has completed the filing includes chemistry, manufacturing and controls (CMC) modules and administrative information now, The FDA has 60 days to review the final submission to determine if the BLA has been completed, after which, the date of the PDUFA will be determined. Writing for Oppenheimer, analyst Justin Kim indicates that acceptance of the BLA will be a milestone for PRVB. « We believe external verification Of the application and its review will positively reflect on Provence’s great efforts in order to complete this registration i.e. expanding the scope of manufacturing As the potential advisory committee meeting and regulatory decision subsequently provide further validation, we trust these events based on the clinical profile of teplizumab Going forward, Kim believes treatment marketing will become a major topic in 2021.Based on teplizumab’s 14-day infusion cycle, the logistics and physician / patient reception for this method, especially during the COVID-19 pandemic, are attracting great interest, according to the analyst at Case Grant. Candidate approval Ultimately, screening and outreach work could reflect a large backwind, in Kim’s view by establishing meaningful relationships across major T1D support groups and institutions, “Precaution is well-connected and building momentum for screening and identification initiatives.” The analyst added: “While the hurdle is Successful implementation is high, the reward, in our opinion, will be proportional. “When it comes to long-term opportunity, the“ TN-10 Population Standards ”remains a major area of focus for Kim, Hayy. D « These opportunities may not only expand market opportunities for teplizumab, but also greatly enhance its position in the treatment model. It also states that re-dosing and additional use models after implantation for teplizumab are other strengths. Summarizing all of this, Kim said, » PRVB remains in place. An appreciation in our world, macro topics about COVID-19 and the intense focus on momentum names will likely be given. However, given that ongoing implementation carries PRVB through successful regulatory, pre-commercial and commercial milestones, we believe stocks could enter a significant reclassification period. « All that PRVB has to offer in order to get Kim to leave his outperformance (I’m buying) rating as it is along with the call keeps the target price at $ 29, indicating a 106% potential rise (to see Kim’s record, click here) by moving on to The rest of the street, the bulls put it into this with 4 buys and no bookings or sales in the last three months, the common word on the street is PRVB is a strong buy at $ 28 75, the average target price indicates a potential up 104% (See analysis of A. PRVB Stock on TipRanks) To find good stock trading ideas with attractive valuations, visit Best Stocks to Buy from TipRanks, a newly launched tool that unites all share insights for TipRanks Disclaimer: The opinions in this article are only those of featured analysts The content is intended for use for purposes Informational only It is very important to do your own analysis before making any investment
When IBM announced it was running its infrastructure services business last month, it was definitely a sign that the company was fully operational on hybrid cloud today. In an interview with John Forte at the CNBC Evolve Summit, IBM CEO Arvind Krishna explained, His entire focus will be on transforming his enterprise into a hybrid cloud management resource going forward. Krishna sees this acquisition as an essential part of the transition strategy to capture his estimated $ 1 trillion opportunity in the hybrid cloud management market, and he thinks his company is well positioned to grab a portion of that. p>
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(Bloomberg) – Chinese tech giants from Alibaba Group Holdings Limited to Tencent Holdings Ltd shed nearly $ 260 billion in market value over two days of frenzied selling, as investors scrambled to assess the fallout from Beijing’s broader attempt to rein in Technology stocks plunged for a second day after Beijing issued regulations designed to curb the growing influence of internet sector leaders including JD.com, Meituan and Xiaomi Corp. Hang Seng Tech plunged 56% on Wednesday in Hong Kong, upping its two-day loss. To 10% as of midday and five-year shares of companies have fallen by at least 8% during two sessions Beijing on Tuesday unveiled regulations to root out monopolistic practices in the internet industry, moving away from a mostly hands-off approach while dealing a blow to companies in the heart of the world. The mysterious wording after a week of new funding restrictions that led to the sudden suspension of Ant Group Co’s $ 35 billion initial public offering, spoiling the Founder Jack Ma panels to control online finance in the process have also appeared on the eve of Singles’ Day, an event invented a decade ago that has grown into the largest annual shopping spree in the country, said Zhan Hao, managing partner at Anjie Law Firm in Beijing, said: Big Tech in China will have to rethink its business models’ « The philosophy of the Internet companies is that the winner gets everything, especially for the platform operators, they attract user traffic and create similar ecosystems. Read more: China’s crackdown on big tech companies puts more billionaires on notice, the government of Xi Jinping is increasingly working. » On diminishing the influence of private companies that have become the main engine of growth in the country despite sporadic crackdowns on narrow areas from mobile gaming to online counterfeiting, the likes of Alibaba and Tencent have often been free to acquire and invest in new businesses, becoming major corporate backers. Notable emergencies while building sprawling empires now covering e-commerce, digital finance, social media, and entertainment, « I really gasped when I first read these guidelines on the eve of Singles’ Day, » said Jun Dong, a securities attorney at Joint-Win Partners in Shanghai. The strength and determination to reshape the tech giants is astonishing. China’s antitrust watchdog is seeking a favor Rather on rules that frame anti-competitive behaviors such as collusion with the sharing of sensitive consumer data, alliances that put pressure on smaller competitors, and support services at a lower cost in order to eliminate competitors may also demand from companies that manage what is called a variable interest entity – namely A vehicle by which nearly every major Chinese internet company is attracting foreign investment and listing abroad – to apply for specific operational approval, said Chen Ming, director of the Beijing-based boutique investment bank Chanson & Co., “The Internet giants have expanded their reach into sectors as diverse as finance and sponsorship. Health that is vital to the economy and that truly matters to regulators’ “This move could discourage companies in the tech sector from listing in the near term because those affected will need time to adjust their business accordingly.” China’s crackdown on big tech firms puts more billionaires on notice On November 3, policymakers shocked the investment world by suspending a public offering Initial by Ant Group, a fintech company run by billionaire Ma, the decision came just two days before it began trading its shares on a list that attracted at least $ 3 trillion in requests from individual investors. Then China’s largest banking regulator stepped up pressure to rein in fintech companies, promising on Wednesday to eliminate monopolistic practices and strengthen risk controls, as this at the top of a series of regulatory statements this week targeting the tech industry, new regulations for the internet sector indicate « more tightening. » For the online economy, although the real impact will depend on how the rules are enforced, JP Morgan Chase & Co wrote analysts led by Alex Yao in a note The proposed regulations come at a bad time for tech stocks, which are already under pressure from the global turnover that has lowered the index. « Tightening regulations in Beijing, including antitrust laws, are a big blow to the tech giants, » said Daniel Su, a Hong Kong strategist at CMB International Securities Ltd, up nearly 3% this week. « It is an additional blow to stocks, when investors take turns out of the sector and into shares of the old economy due to the promotion of the vaccine, » he said, adding that companies such as Tencent and Alibaba will continue to face negative pressures.For more articles like these, please visit us at Bloomberg comSubscribe now to keep up with the most trusted business news source © 2020 Bloomberg Element
Aurora Cannabis Inc plans to sell more shares after massive gains in recent days, resulting in a 15% drop in the share price in late Tuesday trade
Rocket Companies Inc Shares were down 2% in after-hours trading on Tuesday after the parent company of Quicken Loans, a technology services provider for home ownership and other personal financial transactions, reported third-quarter financial earnings. Rocket companies reported net income of $ 2 99 billion, or 54. Cents a share, compared to net income of $ 495 million in the same quarter a year ago After the adjustments, the company reported a diluted EPS of $ 1 21 share revenue improved 186% to $ 4 $ 63 billion from $ 1 62 billion a year ago analysts surveyed predicted Compiled by FactSet, a net income of $ 1 09 on revenues of $ 4 55 billion shares of Rocket companies, which debuted in the public markets Aug 6, flat this year The broader S&P 500 index rose 10% in 2020
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