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by Charles Hugh-Smith The heretical truth is that many of the “consumption rituals” that signified “prosperity” for decades are either meaningless, unaffordable or require way more effort than the meager payoff is worth. Of all the economic heresies imaginable, perhaps the most heretical is to recognize what we label “prosperity” as increasingly meaningless rituals more akin

Johnson & Johnson said that Phase1/2 trial data showed that a single dose of its COVID-19 vaccine candidate, JNJ-78436735, induced a “strong” neutralizing antibody response in nearly all participants aged 18 years and older. Interim analysis from the ongoing Phase 1/2a clinical trial demonstrated that J&J’s (JNJ) vaccine candidate was generally well-tolerated. Immune responses were

Markets are volatile this month, with the magnitude of the shifts most pronounced in the tech-heavy NASDAQ. That index fell 7.5% from its peak – reached on September 2 – a slide pronounced enough to have investors questioning whether this is just a correction, or a true reversal of the bull market we saw through

Lockheed Martin’s board of directors has signed off on a 8.3% quarterly dividend increase to pay $2.60 per share and announced plans for an additional $1.3 billion share buyback. Lockheed Martin (LMT) said that its fourth-quarter dividend will increase by $0.20 per share over last quarter. The dividend is payable on Dec. 24, 2020, to holders of record as of

For biotechs, the recipe for success is simple. Offer up good news regarding clinical data or a regulatory decision, and you get rewards in the shape of major gains. By the same token, throw in a disappointing outcome, and sentiment can quickly sour. Case in point, take CytoDyn (CYDY). On September 16, the company provided

by Frank Shostak via Mises According to the modern portfolio theory (MPT), financial asset prices always fully reflect all available and relevant information, and any adjustment to new information is virtually instantaneous. In this way of thinking, asset prices respond only to the unexpected part of any information, since the expected part is already embedded in prices. For

Among the devastating impacts of COVID-19 on businesses, advertising budgets have been hit hard. Even Wall Street heavyweight Facebook’s (FB) advertising business has been battered by the pandemic, with an advertiser boycott also weighing on the segment. In the second quarter of 2020, the company’s top 100 advertisers accounted for 16% of its revenue, which

by Kimble Charting Inflation has long been a word that the Federal Reserve uses but the general markets have forgotten about. Why? Well because it’s been virtually non-existent for years. Key indicators like commodities (i.e. copper) have been in a down-trends and the Materials Sector (XLB) has lagged… until this year. In today’s chart 3-pack, we take a

Does AstraZeneca (AZN) still have a fighting chance in the COVID-19 vaccine race? Earlier this month, the healthcare giant paused the Phase 3 study of AZD1222, its experimental COVID-19 vaccine developed as part of a collaboration with the University of Oxford, after one of the participants developed an unexplained illness, a potential adverse effect. This

Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $3.04 per share, 20 cents a share above estimates. The warehouse retailer’s revenue also beat Wall Street forecasts. Comparable-store sales rose 11.4% compared to the 7.8% consensus estimate of analysts polled by Refinitiv. Costco also

Micron’s (MU) year has been nothing to shout about. The memory chip maker has struggled due to a lack of demand in the memory space as a result of the economic recession caused by the viral outbreak. The macro weakness has been reflected in the share price, too. Unlike many of its peers in the semiconductor

Tesla vehicles are displayed in a Manhattan dealership on September 08, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading: Bristol-Myers Squibb — Shares of the pharmaceutical company rose 1.2% after it announced positive interim results from a phase three trial of an immunotherapy drug

It’s been a couple of week now since SVB Leerink analyst Mani Foroohar cited worries about increased competition in the CVOID-19 vaccine race (200 vaccines in process, dozens in clinical trials), and mRNA-1273 lost “lead in clinical development” in deciding to downgrade Moderna (MRNA) stock to “underperform.” A couple of weeks later… he’s still not

The Fearless Girl statue is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., June 11, 2020. Brendan McDermid | Reuters Stock market volatility, with sharp ups, downs and reversals, is likely to be the norm again in the week ahead, as investors await Friday’s jobs report and watch

by CRESCAT CAPITAL Dear Investors: The Reckoning Is Upon Us Decades of fiscal profligacy are culminating in an explosion of government debt that is poised to bring simmering monetary debasement to a boiling point. Central bank interventions have aided and abetted reckless government spending that has obfuscated poor underlying organic growth fundamentals. Instead of laying the

Avient (AVNT) stock rose 3.4% in after-hours trading on Thursday as the company reported preliminary 3Q numbers and provided an update related to the cost synergies associated with the Clariant Masterbatch acquisition. Avient (formerly PolyOne), a provider of specialized and sustainable material solutions, expects to deliver adjusted EPS of $0.43 in 3Q due to a

With the iPhone 12 launch around the corner, all eyes are on Apple (AAPL). The launch is set to come in the next quarter, and investors are eagerly waiting to see what the tech giant has up its sleeve. 5-star analyst Chris Caso, of Raymond James, tells clients that based on production checks conducted across

by confoundedinterest17 As I have been saying for a while now, Q3 GDP is rebounding strongly and that is driving new home sales through the roof (coupled with historic low interest rates). As the supply of new home sales got eaten-up. The South led the wave with 1) aging population and 2) people escaping high taxes

Markets are volatile, there can be no doubt. So far this month, the S&P 500 has fallen 9% from its peak. The tech-heavy NASDAQ, which had led the gainers all summer, is now leading the on the fall, having lost 11% since September 2. The three-week tumble has investors worried that we may be on

Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm reported quarterly profit of $1.70 per share, falling 3 cents a share short of Wall Street forecasts. Revenue also came in slightly shy of estimates and the company gave a weaker-than-expected current-quarter revenue forecast, as clients spend less

by CanMurky49 C19 wouldn’t exist if people stopped testing and turned off their tell a vision. Current mortality rate for those whom have tested positive is less than 0.1%, and even that is a colossal overstatement to say the least, if you take into consideration the fact they’ve been pushing the entire world to get tested

Chevron Corp. has asked its employees globally to remove Tencent Holdings Ltd.’s WeChat application from their work phones, Bloomberg reported on Wednesday citing an internal memo issued by the US oil major. With this move, Chevron has become the first US companies to respond to President Donald Trump administration’s order banning the app due to

Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike reported quarterly earnings of 95 cents per share, more than doubling the consensus estimate of 47 cents. Revenue also beat forecasts, with online sales surging 82 percent and now making up nearly a third of the athletic apparel and

by confoundedinterest17 It is difficult to keep an economy down with Covid-related shutdowns. According to the Mortgage Bankers Association applications index, unadjusted purchase applications rose 13.41% for the week ending 09/18. Unadjusted refinancing applications rose 20.92%. Mortgage purchase applications usually peak in late April or early May, but due to Covid, they peaked this year in late

In what appears like a rare misstep in the company’s flawlessly executed 2020, Nvidia (NVDA) botched up last week’s launch of the GeForce RTX 3080 graphics cards. On Monday, Nvidia issued an apology after it was unable to meet demand for the new product, leaving hordes of disappointed fans unable to get their hands on

A Tesla Inc. vehicle charges at a charging station in San Mateo, California, U.S., on Tuesday, Sept. 22, 2020. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell:  Jefferies Financial Group — Shares of the financial services firm jumped more than 14% following the company’s third quarter

by Michael Snyder Have you noticed that it seems like stories about asteroids that are approaching the Earth are constantly in the news this year?  It wasn’t always this way.  In the old days, maybe there would be a story about an asteroid every once in a while, and those stories were never a big

Volatility is back on the Wall Street menu, but extreme market moves are a familiar sight in 2020 for investors of life sciences company BioNano Genomics (BNGO). The wild ride has seen shares swing from one extreme to the other, although, unfortunately, mostly to the downside. Overall, shares have declined by 53% since the turn

Shoppers, some wearing PPE (personal protective equipment), of a face mask or covering as a precautionary measure against COVID-19, queue to enter a recently re-opened Nike store at Gunwharf Keys shopping centre in Portsmouth, southern England on June 16, 2020. Adrian Dennis | AFP | Getty Images Check out the companies making headlines in midday

Western Digital Corp. has aligned its $16.7 billion worth of storage portfolio and in turn, formed two separate business units for its Flash and Hard Disk Drive (HDD) technology assets. The hard-disk drive manufacturer Western Digital (WDC) said that the strategy “leverages company’s go-to-market synergies to address broad customer storage needs from edge devices to