Tilray has rallied on plans to merge with rival Canadian pot producer Aphria and bigger legalization prospects in the U.S. So, is Tilray stock a buy now?
- Motley Fool
Shares of Canadian marijuana grower Sundial Growers (NASDAQ: SNDL) spiked 13% early Thursday. When names like GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) soared earlier this month from chatroom buying interest, some speculative pot stocks like Sundial moved in tandem. On Tuesday, Sundial closed an approximately CA$22 million stock and cash investment in Canadian edibles producer Indiva.
New reports of Ebola in Guinea are causing anxiety given the history of the west Africa outbreak of 2014-2016. This was the largest Ebola outbreak reported to date—28,000 cases were recorded, including 11,000 deaths. It originated in Guinea and then spread to Sierra Leone and Liberia.
(Bloomberg) -- Japanese factories increased output in January for the first time in three months, signaling the country’s economic recovery is continuing despite a renewed state of emergency to contain the coronavirus.Industrial output rose 4.2% from the previous month, with production of memory chips and semiconductor equipment climbing, the trade ministry reported Friday. Economists had projected a 3.8% overall gain amid rising exports, especially to China.Separate figures showed retail sales fell at less than half the predicted pace in January compared with the prior month. Declines eased in Tokyo consumer prices, a bellwether for national inflation.While the spending drop was far smaller than during a wider-ranging emergency last year, it still underscored a split in the recovery between domestic and export-driven sectors. Since consumer spending accounts for more than half of the economy, a sustained rebound after the emergency requires people to open their purse strings.Key Insights“How much consumption will come back starting in March will hold the key,” said economist Atsushi Takeda at Itochu Research Institute. “I don’t think consumption will be back at full speed as the government is likely to maintain some restrictions with the Olympics nearing.”Japan’s decision to focus its latest emergency advisory on bars and restaurants in major cities is exacting a smaller toll than last spring’s more wide-scale approach. While the economy is seen falling back into contraction this quarter, rising output is likely to offer support to the recovery once the emergency ends.Prime Minister Yoshihide Suga will decide as early as today whether to lift the emergency outside the Tokyo region about a week ahead of schedule, a move likely to help spending and sentiment at least marginally. The number of new virus cases in Japan has fallen to a fraction of the peak and last week the country started giving vaccines.High frequency data compiled by Bloomberg Economics shows activity rising in Japan more than in place likes the U.S., the U.K. or Canada.On the manufacturing side, Japan’s production has been helped by a pickup in demand from China, where exports rose last month by the most since 2010. An ongoing global shortage of semiconductors is driving output in electronics but also weighing on the auto industry, a key sector for Japan.What Bloomberg Economics Says...“A smaller-than-expected decline in Tokyo’s core inflation gauge was driven by volatile factors. As such, we don’t expect the reading to have a meaningful implication to the Bank of Japan’s policy review in March.”--Yuki Masujima, economistFor the full report, click here.Get MoreTokyo’s consumer prices excluding fresh food, a leading indicator of nationwide inflation trends, fell at a slightly slower pace of 0.3% in February from a year earlier, according to a separate report from the ministry of internal affairs.Retail sales decreased 2.4% in January compared with a year earlier, better than the 2.6% projected fall by economists.Industrial production is expected to rise 2.1% in February and fall 6.1% in March, according to a ministry survey.(Adds economist’s comments.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- FX Empire
Price of Gold Fundamental Daily Forecast – Pressured as Heating Up Economy Moves Fed Closer to Tightening
To sum it up. Last year, the Fed was loosening and gold went up. Now, the Fed is moving closer to tightening and gold is going down.
India's economy probably returned to growth in its fiscal third quarter after a recession earlier in 2020, economists said, and the recovery is expected to gather pace as consumer demand and investments shake off the effects of the pandemic. The median forecast from a survey of 58 economists this week predicted gross domestic product in Asia's third-largest economy grew 0.5% year-on-year in the December quarter, after shrinking 23.9% and 7.5% in the April-June and July-September periods, respectively. India is set to announce GDP data for the December period on Friday at 1200 GMT.
India's conglomerate Reliance Industries has partnered with Facebook Inc, Google and fintech player Infibeam to set up a national digital payment network, Economic Times newspaper reported on Saturday, citing unnamed sources. Last year, India's central bank invited companies to forge new umbrella entities (NUEs) to create a payments network that would rival the system operated by the National Payments Council of India (NPCI), as it seeks to reduce concentration risks in the space.
If history is any guide, the US government will continue to be a lavish spender even after the coronavirus pandemic ends.
The House passed President Biden's $1.9 trillion stimulus package. While the bill faces hurdles in the Senate, the provisions authorizing another round of stimulus payments seem safe.
- Yahoo Finance
A new survey from Yahoo Finance and The Harris Poll finds 46% of Americans support some level of student loan forgiveness.
- Yahoo Finance
“A happy life is very simple,” the 97-year-old Munger said during the Annual Meeting of Shareholders of the Daily Journal Corporation.
- Motley Fool
Shares of Warrior Met Coal (NYSE: HCC) plunged as much as 23.1% in trading on Thursday after the company reported fourth-quarter 2020 financial results. Revenue was up a modest 3.6% versus a year ago, but the company reported a $33.7 million net loss, or $0.66 per share. On an adjusted basis, which pulls out one-time items, the net loss was $0.63 per share, which was well short of the $0.33 loss that analysts expected.
- Motley Fool
After a ruling forcing lawmakers to remove a minimum wage hike from a sweeping relief package, there's another path to that $15 hourly wage.
The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the IRS.
- Simply Wall St.
Broadstone Net Lease, Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Broadstone Net Lease, Inc. ( NYSE:BNL ) shareholders are probably feeling a little disappointed, since its shares fell...
Here's what still has to happen, now that the U.S. House has given its OK.
- USA TODAY
Co-owner Penny Chutima and her mother, storied chef Saipin, saw what was happening in China and prepared early for the pandemic to hit the states.
Last night on MSNBC, Bloomberg reporter Tim O'Brien speculated that the lead accountant on the Trump Organization's taxes may turn state's evidence. Allen Weisselberg is the chief financial officer of...
- Yahoo Finance
While Warren Buffett isn’t known to prognosticate on where interest rates are heading, he warns that fixed-income investors “face a bleak future."
Johnson & Johnson's Vaccine Gets Unanimous Backing Of FDA Panel, Emergency-Use Authorization Soon To Come
Johnson & Johnson's (NYSE: JNJ) coronavirus vaccine candidate could be given clearance for emergency use today, following unanimous backing by a Food and Drug Administration panel. What Happened: The FDA plans to rapidly finalize the vaccine and authorize it for emergency use. It is working with other federal agencies to ensure timely vaccine distribution, Acting Commissioner Janet Woodcock said in a statement. The announcement followed a live-streamed one-day meeting on Friday of the FDA's Vaccines and Related Biological Products Advisory Committee. This vaccine is a single-dose shot for adults 18 years and older. An independent expert panel, consisting of 22 members, voted unanimously to authorize the vaccine candidate, deeming the benefits of the vaccine outweigh the known risks. Although committee members expressed apprehensions over lower efficacy in some adults over the age of 60, it was finally decided that this subgroup was too small a population to draw broader conclusions. "We believe our COVID-19 vaccine candidate has the potential to help change the trajectory of the pandemic and stand ready to make it available to protect the public as soon as possible," said Paul Stoffels, chief scientific officer at J&J. The recommendation was based on evidence provided by the company, including efficacy and safety data from the Phase 3 ENSEMBLE trial, which showed that the vaccine was 66% effective in preventing moderate-to-severe cases of the disease. Related Link: Why Merck Is Buying Autoimmune Disease Drug Company Pandion For $1.85B The overall efficacy, however, pales before the 95% efficacy reported by Moderna Inc (NASDAQ: MRNA) and Pfizer Inc. (NYSE: PFE)-BioNTech SE – ADR (NASDAQ: BNTX) for their vaccine candidates. Moderna and Pfizer-BioNTech received authorizations for their vaccine candidates in December. Unlike the messenger RNA vaccines of Moderna and Pfizer-BioNTech, J&J's vaccine candidate uses a single-dose regimen and is an experimental viral vector vaccine that uses a weakened form of adenovirus to transport genetic material to trigger immune response. J&J's vaccine candidate can remain stable for two years at -20 degrees Celsius, at least three months of which can be at temperatures of 2-8 degrees Celsius. The vaccines from Moderna and Pfizer, on the other hand, require cold-chain logistics to stay effective. What's Next: After emergency use authorization, the U.S. Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices will provide a recommendation on the use and roll-out of J&J's vaccine. The company said it is prepared to supply its vaccine immediately upon authorization and expects to deliver enough single-dose vaccines by the end of March to vaccinate more than 20 million people in the U.S. The company plans to deliver 100 million single-dose vaccines in the U.S. during the first half of 2021. J&J also has an application pending before European regulators for obtaining conditional marketing authorization in the region. The World Health Organization is reviewing an emergency use listing for the vaccine. Related Link: The Daily Biotech Pulse: Adcom Test Awaits J&J's COVID-19 Vaccine, Lilly To Supply Additional Antibody Therapy Doses To US, Regulatory Setback For Tricida See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Adcom Test Awaits J&J's COVID-19 Vaccine, Lilly To Supply Additional Antibody Therapy Doses To US, Regulatory Setback For TricidaJohnson & Johnson's Single-Dose Coronavirus Shot Gets Favorable FDA Review Ahead Of Adcom Meeting© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
As Bitcoin breaks the $50,000 mark and the Dow hovers in the low 30,000s, a new report from the Bank of America and EPFR Global reveals that the latest market exuberance "may precede a correction,"...