Shares of Protagonist Therapeutics (PTGX) dropped 54% in after-hours trading on Tuesday after announcing it would discontinue phase 2b Propel trial. The pharmaceutical company was conducting a research on a compound called PTG-100 to see if it was a potential treatment for ulcerative colitis. The company’s decision to bring the study to an early halt…
Constellation Brands Inc. (STZ – Free Report) delivered robust fourth-quarter fiscal 2018 results, wherein both the top and bottom line topped estimates and improved year over year. Notably, this marked the 14th consecutive quarter of earnings beat for the company. Further, it provided an upbeat outlook for fiscal 2019. Consequently, shares of Constellation Brands rose nearly 3.1% in…
This morning’s release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 149.8, down 0.2 from the previous week. Year-over-year the four-week moving average of the indicator is now at 3.36%, up from 3.24% last week. The WLI Growth indicator is now at 5.2, down from the previous week. “Up…
Oil prices continue to fall as US production rose to a record high, continuing losses for a fourth straight day as the US Energy Administration announced yesterday that crude inventories in the United States rose by 1.6 million barrels for the week ended March 23, About 0.5 million barrels. US crude rose by 0.22% to…
It has been a continuation of another difficult week across the markets as uncertainty about trade and Trump’s administration continue. The week started at an optimistic note as a report indicated that China and the United States were negotiating a deal that would iron out the key issues. Recently, the Chinese authorities have showed…
StockSnap/Pixabay NVIDIA Corporation (NVDA) stock began to rally in the pre-market trading hours on Thursday after plunging on Tuesday. The chip maker increased its outlook for the data center market on Wednesday, but that wasn’t enough to give its shares a boost. NVIDIA stock plunged on Tuesday after the company said it was pausing the…
Important economic data will be reported next week. Japan reports the results of its latest Tankan survey and the household spending (following today’s report of disappointing retail sales).The EMU’s March inflation report and February retail sales are on tap. The US jobs and auto sales for March will be released. It is also the start of…
Important economic data will be reported next week. Japan reports the results of its latest Tankan survey and the household spending (following today’s report of disappointing retail sales).The EMU’s March inflation report and February retail sales are on tap. The US jobs and auto sales for March will be released. It is also the start of…
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method. There is, however, a general belief that there are four big indicators that the committee weighs…
Barclays shares jumped Thursday after the DOJ handed the UK bank a major victory in its years-long struggle to settle allegations of malfeasance dating back to the financial crisis. As part of the deal, Barclays has agreed to pay a $2 billion civil penalty to settle allegations of fraudulent conduct relating to Barclays’ securitization, underwriting,…
