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Stock Market This Week: Penny Stocks, News, & What To Watch Jan 9-13

The Stock Market This Week: Economic Calendar, Fed speaking schedule, most notable earnings, & more.
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The Stock Market This Week

This week, we’ve got a full 5-days of action for everything from penny stocks to mega-caps in the stock market. It isn’t solely about economic events either. We’ll see the kick-off of the latest earnings season to highlight some notable companies. Mix in some Fed & central banker speaking engagements, which could be a recipe for more volatility ahead.

Last week, the first handful of days of the New Year brought a topsy-turvey stock market. But Friday’s session capped off a technically bullish week to start 2023. Markets have been trading in a tight sideways channel for weeks following the previously hawkish Fed meeting and press conference. Meanwhile, the latest round of Fed minutes from December confirmed what most had already presumed. That is, the Fed isn’t planning on sorting its stance on rates.

Last week’s comments from central bankers, including Fed member Cook, helped bring a bit of optimism to the market. Federal Reserve Governor Lisa Cook highlighted signs that inflationary pressures could be easing.

“Recent data suggest that labor-compensation growth has indeed started to decelerate somewhat over the past year…Crucially, we must be vigilant to ensure that pandemic-era cost pressures and disruptions do not have lasting effects on inflation. If cost shocks and supply disruptions keep inflation elevated for a long enough period, households’ and firms’ inflation expectations could move higher—a development that could put additional upward pressure on inflation.”

Other Fed officials echoed this sentiment as well. Richmond Fed President Thomas Barkin stated in a speech in North Carolina, “We still have work to do. Inflation is too high, and we will need to stay on the case until it is sustainably back to our 2 percent target.”

Stock Market Economic Calendar For January 9th – January 13th

The week ahead has plenty to keep track of and will likely be closely watched by investors seeking clarity on timing for the Fed. Indeed, events like the next round of US CPI and a speaking engagement that includes Fed Chair Powell will be at the top of the list. Global economic events could also help sway markets. These include data from China, Japan, and Europe.

Stock Market News & Events On Monday, January 9, 2023

Monday’s schedule is one of the busiest of the week, and it begins early with Germany’s industrial production data from November. We’ll also see Eurozone unemployment and US CB employment trends before noon. Bank of England MPC member Mann speaks during the lunch hour. Later in the afternoon, as Power Hour begins, US November consumer credit data will get reported. Tokyo’s December CPI data is one of the week’s more significant global economic events. That will come out a few hours after the U.S. market closes on January 9th.

Penny Stocks To Buy This Week? 7 Short Squeeze Stocks To Watch

Stock Market News & Events On Tuesday, January 10, 2023

Tuesday has a few central bank representatives speaking, including the ECB’s Schnabel. However, US Fed Chair Jerome Powell could take the spotlight just before markets open. Powell begins speaking at 9 AM ET, which could set the tone for the first half of the week.

Stock Market News & Events On Wednesday, January 11, 2023

Wednesday brings no break in the action for major economic data. While US Mortgage data comes out before markets open, it will likely be China’s latest round of CPI data that retains the focus of markets. It won’t come out until 8:30 PM ET and could be a catalyst to keep in mind for Thursday’s session.

Stock Market News & Events On Thursday, January 12, 2023

If post-market China CPI wasn’t enough, we’ll also see pre-market US CPI, Core CPI, and employment data come out on Thursday. The FOMC’s Harker also makes comments early in the January 12th session.

Stock Market News & Events On Friday, January 13, 2023

Friday caps off a critical week of economic events and includes even more data out of the UK. The latest GDP and production figures get reported early. In addition to more economic data coming throughout the day, central bankers will also be speaking. Friday morning, the FOMC’s Harker will make statements before the stock market opens at 9:30 AM ET.

How to Start Investing in Penny Stocks in 2023

Notable Earnings In The Stock Market This Week

This week begins the start of another earnings season. While it isn’t very active, there are a few notable names to watch reporting their latest round of financial results:

Monday: Most Anticipated Earnings for January 9, 2023

  • Commercial Metals Company (CMC)
  • Acuity Brands (AYI)
  • WD-40 Company (WDFC)
  • PriceSmart (PSMT)
  • Tilray Brands (TLRY)
  • Acolade Inc. (ACCD)
  • Azz Inc. (AZZ)

Tuesday: Most Anticipated Earnings for January 10, 2023

  • Albertsons Companies (ACI)
  • TD SYNNEX (SNX)

Wednesday: Most Anticipated Earnings for January 11, 2023

  • KB Home (KBH)

Thursday: Most Anticipated Earnings for January 12, 2023

  • TSMC (TSM)
  • Organigram Holdings (OGI)
  • Northern Technologies International (NTIC)
  • RF Industries (RFIL)

Friday: Most Anticipated Earnings for January 13, 2023

  • United Health (UNH)
  • JP Morgan (JPM)
  • Bank Of America (BAC)
  • Wells Fargo (WFC)
  • BlackRock (BLK)
  • Citigroup (C)
  • The Bank Of New York Mellon (BK)
  • Delta Air Lines (DAL)
  • First Republic Bank (FRC)

The post Stock Market This Week: Penny Stocks, News, & What To Watch Jan 9-13 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide…

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Glimpse Of Sanity: Dartmouth Returns Standardized Testing For Admission After Failed Experiment

In response to the virus pandemic and nationwide Black Lives Matter riots in the summer of 2020, some elite colleges and universities shredded testing requirements for admission. Several years later, the test-optional admission has yet to produce the promising results for racial and class-based equity that many woke academic institutions wished.

The failure of test-optional admission policies has forced Dartmouth College to reinstate standardized test scores for admission starting next year. This should never have been eliminated, as merit will always prevail. 

"Nearly four years later, having studied the role of testing in our admissions process as well as its value as a predictor of student success at Dartmouth, we are removing the extended pause and reactivating the standardized testing requirement for undergraduate admission, effective with the Class of 2029," Dartmouth wrote in a press release Monday morning. 

"For Dartmouth, the evidence supporting our reactivation of a required testing policy is clear. Our bottom line is simple: we believe a standardized testing requirement will improve—not detract from—our ability to bring the most promising and diverse students to our campus," the elite college said. 

Who would've thought eliminating standardized tests for admission because a fringe minority said they were instruments of racism and a biased system was ever a good idea? 

Also, it doesn't take a rocket scientist to figure this out. More from Dartmouth, who commissioned the research: 

They also found that test scores represent an especially valuable tool to identify high-achieving applicants from low and middle-income backgrounds; who are first-generation college-bound; as well as students from urban and rural backgrounds.

All the colleges and universities that quickly adopted test-optional admissions in 2020 experienced a surge in applications. Perhaps the push for test-optional was under the guise of woke equality but was nothing more than protecting the bottom line for these institutions. 

A glimpse of sanity returns to woke schools: Admit qualified kids. Next up is corporate America and all tiers of the US government. 

Tyler Durden Mon, 02/05/2024 - 17:20

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Four burning questions about the future of the $16.5B Novo-Catalent deal

To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.
Beyond spending billions of dollars to expand…

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To build or to buy? That’s a classic question for pharma boardrooms, and Novo Nordisk is going with both.

Beyond spending billions of dollars to expand its own production capacity for its weight loss drugs, the Danish drugmaker said Monday it will pay $11 billion to acquire three manufacturing plants from Catalent. It’s part of a broader $16.5 billion deal with Novo Holdings, the investment arm of the pharma’s parent group, which agreed to acquire the contract manufacturer and take it private.

It’s a big deal for all parties, with potential ripple effects across the biotech ecosystem. Here’s a look at some of the most pressing questions to watch after Monday’s announcement.

Why did Novo do this?

Novo Holdings isn’t the most obvious buyer for Catalent, particularly after last year’s on-and-off M&A interest from the serial acquirer Danaher. But the deal could benefit both Novo Holdings and Novo Nordisk.

Novo Nordisk’s biggest challenge has been simply making enough of the weight loss drug Wegovy and diabetes therapy Ozempic. On last week’s earnings call, Novo Nordisk CEO Lars Fruergaard Jørgensen said the company isn’t constrained by capital in its efforts to boost manufacturing. Rather, the main challenge is the limited amount of capabilities out there, he said.

“Most pharmaceutical companies in the world would be shopping among the same manufacturers,” he said. “There’s not an unlimited amount of machinery and people to build it.”

While Novo was already one of Catalent’s major customers, the manufacturer has been hamstrung by its own balance sheet. With roughly $5 billion in debt on its books, it’s had to juggle paying down debt with sufficiently investing in its facilities. That’s been particularly challenging in keeping pace with soaring demand for GLP-1 drugs.

Novo, on the other hand, has the balance sheet to funnel as much money as needed into the plants in Italy, Belgium, and Indiana. It’s also struggled to make enough of its popular GLP-1 drugs to meet their soaring demand, with documented shortages of both Ozempic and Wegovy.

The impact won’t be immediate. The parties expect the deal to close near the end of 2024. Novo Nordisk said it expects the three new sites to “gradually increase Novo Nordisk’s filling capacity from 2026 and onwards.”

As for the rest of Catalent — nearly 50 other sites employing thousands of workers — Novo Holdings will take control. The group previously acquired Altasciences in 2021 and Ritedose in 2022, so the Catalent deal builds on a core investing interest in biopharma services, Novo Holdings CEO Kasim Kutay told Endpoints News.

Kasim Kutay

When asked about possible site closures or layoffs, Kutay said the team hasn’t thought about that.

“That’s not our track record. Our track record is to invest in quality businesses and help them grow,” he said. “There’s always stuff to do with any asset you own, but we haven’t bought this company to do some of the stuff you’re talking about.”

What does it mean for Catalent’s customers? 

Until the deal closes, Catalent will operate as a standalone business. After it closes, Novo Nordisk said it will honor its customer obligations at the three sites, a spokesperson said. But they didn’t answer a question about what happens when those contracts expire.

The wrinkle is the long-term future of the three plants that Novo Nordisk is paying for. Those sites don’t exclusively pump out Wegovy, but that could be the logical long-term aim for the Danish drugmaker.

The ideal scenario is that pricing and timelines remain the same for customers, said Nicole Paulk, CEO of the gene therapy startup Siren Biotechnology.

Nicole Paulk

“The name of the group that you’re going to send your check to is now going to be Novo Holdings instead of Catalent, but otherwise everything remains the same,” Paulk told Endpoints. “That’s the best-case scenario.”

In a worst case, Paulk said she feared the new owners could wind up closing sites or laying off Catalent groups. That could create some uncertainty for customers looking for a long-term manufacturing partner.

Are shareholders and regulators happy? 

The pandemic was a wild ride for Catalent’s stock, with shares surging from about $40 to $140 and then crashing back to earth. The $63.50 share price for the takeover is a happy ending depending on the investor.

On that point, the investing giant Elliott Investment Management is satisfied. Marc Steinberg, a partner at Elliott, called the agreement “an outstanding outcome” that “clearly maximizes value for Catalent stockholders” in a statement.

Elliott helped kick off a strategic review last August that culminated in the sale agreement. Compared to Catalent’s stock price before that review started, the deal pays a nearly 40% premium.

Alessandro Maselli

But this is hardly a victory lap for CEO Alessandro Maselli, who took over in July 2022 when Catalent’s stock price was north of $100. Novo’s takeover is a tacit acknowledgment that Maselli could never fully right the ship, as operational problems plagued the company throughout 2023 while it was limited by its debt.

Additional regulatory filings in the next few weeks could give insight into just how competitive the sale process was. William Blair analysts said they don’t expect a competing bidder “given the organic investments already being pursued at other leading CDMOs and the breadth and scale of Catalent’s operations.”

The Blair analysts also noted the companies likely “expect to spend some time educating relevant government agencies” about the deal, given the lengthy closing timeline. Given Novo Nordisk’s ascent — it’s now one of Europe’s most valuable companies — paired with the limited number of large contract manufacturers, antitrust regulators could be interested in taking a close look.

Are Catalent’s problems finally a thing of the past?

Catalent ran into a mix of financial and operational problems over the past year that played no small part in attracting the interest of an activist like Elliott.

Now with a deal in place, how quickly can Novo rectify those problems? Some of the challenges were driven by the demands of being a publicly traded company, like failing to meet investors’ revenue expectations or even filing earnings reports on time.

But Catalent also struggled with its business at times, with a range of manufacturing delays, inspection reports and occasionally writing down acquisitions that didn’t pan out. Novo’s deep pockets will go a long way to a turnaround, but only the future will tell if all these issues are fixed.

Kutay said his team is excited by the opportunity and was satisfied with the due diligence it did on the company.

“We believe we’re buying a strong company with a good management team and good prospects,” Kutay said. “If that wasn’t the case, I don’t think we’d be here.”

Amber Tong and Reynald Castañeda contributed reporting.

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Petrina Kamya, Ph.D., Head of AI Platforms at Insilico Medicine, presents at BIO CEO & Investor Conference

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb….

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Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

Credit: Insilico Medicine

Petrina Kamya, PhD, Head of AI Platforms and President of Insilico Medicine Canada, will present at the BIO CEO & Investor Conference happening Feb. 26-27 at the New York Marriott Marquis in New York City. Dr. Kamya will speak as part of the panel “AI within Biopharma: Separating Value from Hype,” on Feb. 27, 1pm ET along with Michael Nally, CEO of Generate: Biomedicines and Liz Schwarzbach, PhD, CBO of BigHat Biosciences.

The session will look at how the latest artificial intelligence (AI) tools – including generative AI and large language models – are currently being used to advance the discovery and design of new drugs, and which technologies are still in development. 

The BIO CEO & Investor Conference brings together over 1,000 attendees and more than 700 companies across industry and institutional investment to discuss the future investment landscape of biotechnology. Sessions focus on topics such as therapeutic advancements, market outlook, and policy priorities.

Insilico Medicine is a leading, clinical stage AI-driven drug discovery company that has raised over $400m in investments since it was founded in 2014. Dr. Kamya leads the development of the Company’s end-to-end generative AI platform, Pharma.AI from Insilico’s AI R&D Center in Montreal. Using modern machine learning techniques in the context of chemistry and biology, the platform has driven the discovery and design of 30+ new therapies, with five in clinical stages – for cancer, fibrosis, inflammatory bowel disease (IBD), and COVID-19. The Company’s lead drug, for the chronic, rare lung condition idiopathic pulmonary fibrosis, is the first AI-designed drug for an AI-discovered target to reach Phase II clinical trials with patients. Nine of the top 20 pharmaceutical companies have used Insilico’s AI platform to advance their programs, and the Company has a number of major strategic licensing deals around its AI-designed therapeutic assets, including with Sanofi, Exelixis and Menarini. 

 

About Insilico Medicine

Insilico Medicine, a global clinical stage biotechnology company powered by generative AI, is connecting biology, chemistry, and clinical trials analysis using next-generation AI systems. The company has developed AI platforms that utilize deep generative models, reinforcement learning, transformers, and other modern machine learning techniques for novel target discovery and the generation of novel molecular structures with desired properties. Insilico Medicine is developing breakthrough solutions to discover and develop innovative drugs for cancer, fibrosis, immunity, central nervous system diseases, infectious diseases, autoimmune diseases, and aging-related diseases. www.insilico.com 


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