Summit, NJ based Celgene Corporation (CELG – Free Report) is a biopharmaceutical company focused on the discovery, development and commercialization of drugs targeting cancer and inflammatory diseases. Celgene’s key growth driver is Revlimid. The company’s portfolio also includes Pomalyst/Imnovid, Abraxane, Otezla, Istodax, Vidaza and Thalomid/Thalidomide. However, Celgene suffered a series of setbacks over the last few months. The company…
The US jobs report was broadly disappointing. However, the Federal Reserve will look through it and investors should too. A June hike is still by far the most likely scenario. The US created 164k net new jobs in April, and when coupled with the 32k upward revision in March, it was near expectations. The source…
Over the last several weeks, a majority of U.S. companies have divulged their earnings. The vast majority have been their downwardly revised estimates for the first quarter with bottom line earnings per share growing at more than 18% on an annualized basis. Yet, the market has failed to respond. Even stocks that have crushed earnings…
Warren Buffett took a break from explaining his views on bitcoin to pop star Katy Perry to reveal during an interview this week that Berkshire Hathaway bought another 75 million Apple shares during the first quarter – bringing Berkshire’s total stake to 240.3 million shares worth roughly $42.54 billion. That’s nearly twice as much stock as Apple itself bought…
This morning’s employment report for April showed a 164K increase in total nonfarm payrolls, which was worse than forecasts. The unemployment rate dropped to 3.9%. The Investing.com consensus was for 189K new jobs and the unemployment rate to drop to 4.0%. Here is an excerpt from the Employment Situation Summary released this morning by the Bureau of Labor Statistics:…
This chart looks at the Dow Jones Transportation Index over the past 25-years on a monthly basis. The trend for Transports is up and nothing of late has changed the long-term trend. Transports are testing 3-year rising support at (1) with momentum at levels heights only seen three other times in the past quarter-century. When momentum was…
Is the Fed’s rate-hike cycle over? Coming into today’s payrolls number, the sell-side community was hoping that last month’s unexpectedly poor payrolls number would prove to be a one off. It was not, and moments ago the BLS surprised with yet another poor jobs number, when it reported that in April, the US generated only 164K…
After opening the day marginally lower, Indian share markets witnessed further selling pressure and ended their session on a negative note. Losses were largely seen in the telecom sector, auto sector and healthcare sector, while consumer durable stocks ended the day higher. At the closing bell, the BSE Sensex stood lower by 188 points (down 0.5%) and the NSE Nifty closed lower by 61 points (down 0.6%)….
The EUR/USD is under pressure once again, trading lower ahead of the Non-Farm Payrolls. Weak euro-zone data continues flowing, preventing a pre-NFP calm. The technical picture remains bearish as the pair remains confined to a steep downtrend channel. The EUR/USD is trading around $1.1960, down 0.25% on the day and close to the recent three-month…
Overnight Markets and News Jun E-mini S&Ps this morning are down -0.23% ahead of the monthly U.S. payrolls report later this morning. Stocks are also under pressure as the China-U.S. trade talks ended after two days without key differenced being resolved. China’s Xinhua News Agency reported major disagreements on some trade matters remain and both…
