Good News And Bad

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Today I have good news and bad. The good news is that my nagging of the Barron's weekly editors about providing the prices of listed preferred stocks in has succeeded in their including it in the current issue. Listed prefs are a good alternative to bonds and other fixed income earners. So they listened to me and their own reporters—and noted that rival CNBC is already supplying daily on-line prices.

The bad news is that my wallet was stolen out of my backpack handbag on Saturday and I have lost all my ability to spend money using a credit card. I got a quick temporary driver's license by email for $17.50 provided by my husband's credit card. I also got a new corporate American Express card—beating all others. My personal and corporate bank cards are still in process. Social security will take until after Christmas.

The perp apparently emptied my backpack while I was sitting in the park. I had about $150 in bucks and sterling but he was not satisfied with that. I was informed that same day about the purchases attempted to buy $550 sneakers near Times Square, which failed for all 7 of the cards I carry. I am curious what the sneakers look like.On Sunday I visited my local precinct where I filed a report on what turns out to be grand larceny, and a detective told me they have a film of the miscreant from the shoe shoppe. I am terrified it will be someone I know. I also filed with a free service which protects ID.

So that is why this blog is not going out at the usual time. Hanging around on the telephone is boring but essential for this kind of mishap. I have just been called by my nearest supermarket where my wallet—without credit cards or cash—was “found.” So I will got and collect it next.

More about our companies follows, good and bad news. Wall Street is sharply down for the day but up in bubble territory for Nov. The price of Bitcoin went stratospheric at $198,000. Gold fell another half percent. This too shall pass.


Americas

*Zymeworks (ZYME) jumped 4.5% today on news that its HER-2 targeting bispecific antibody drug Zanidatamab won FDA breakthrough status for treating biliary tract cancer. This is a 51 week high. It got orphan drug designation from the EU for the same drug for gastric cancer 2 weeks ago. This Canadian drug firm was recommended by Martin Ferera.

*A more recent Martin pick, Aurinia (AUPH) gained 1.4%. Martin had us buy after the share dropped on Q3 results which missed. He also will soon report on a new drug stock from Vancouver where he hangs out but only for paid subscribers.

*CAE Inc. (CAE) completed its refinancing by the issue of new shares at C$345 mn plus a 15% greenshoe overallotment option, and a further C$150 mn in a private placement of common shares at C$29.85 with the Caisse de Dépôts, the Quebec province pension program. It joins our Mauritius solar panel stock Azure Power Global (AZRE) among the green shares backed by Quebec. CAE trains pilots for civil and military aviation using simulators and the money will be used to fund acquisition of Flight Simulation BV and TRU Simulation+Training Canada.

Its US share fell 3.37% to $24.73 in an antsy market but its target price was raised to C$38 from 33 by Scotiabank. BNS itself will report before the market opens tomorrow. Sorry about the currencies but I have no time to convert.

*Saskatoon based Nutrien, which supplies fertilizer and inputs to farmers will create an in-house program for sustainable energy to cut greenhouse gases. NTR Carbon Programme will function all over the world.

*Mercado Libre of Latin America, the Amazon of the Amazon, gained 1.63% today. MELI.

*Volatile Fibra Uno rose 4.76% today in Mexico. FBASF owns and leases retailing property there.

*Qualcomm, a US firm we own because it has invested in unlisted Israeli startups, is up another 1.63% today. QCOM.


Asia

*Nio Inc. (NIO) fell 5.4% today as concerns over Nicola's deal with GE spilled over to other electric vehicle makers. We have now sold 75% of our initial holding in this share, which still is a big winner.

*Nintendo added 1.3% today in US trading. Japanese NTDOY makes games and consoles. Tipped oby Abhimanyu Sisodia, our youngest writer, we halved our stake this month despite his objections.

*Tower Semiconductor of Israel, TSEM of Asia Minor, gained fractionally as Germany opened its market to outlawed 5G systems from China made in Germany.

*Beigene (BGNE) fell 7.33% today on worry over its zanubrutinib to treat leukemia and lymphoma. A competing Chinese drug from Hutchison Meditech ADR published results from a phase I trial last week.

*Delek Group (DGRLY, sold) completed asset sales and standstills with banks to include NIS 1.1 bn in payments over the past 9 months. We sold because the risks were obvious.

*Compugen fell 0.7% today. CGEN is an Israeli startup.

*Copper miner Antofagasta of Chile whose primary listing is in London rose with the price of the red metal by 0.5%. ANFGF is gaining from optimism about industrial growth next year, needing copper.


Europe

*Standard Life Aberdeen opted not to sell Parmenian to Virgin Money (ADR delisted) after all. It will be sold by SLFPY which runs closed end funds and insurance from Scotland to a more solvent buyer.

*Swedish Ericsson and British Vodafone will use drones communicating with each other to keep flight paths safe from mobile network interference and crowded areas when flown for commercial or emergency flights. They tested in Germany VOD's Application Programming Interface to drone pilots.

*BAE Systems nabbed the bulk of £16.5 bn the UK's military spending over the next 4 years. BAESY also sells a lot to the USA and even to Europe.

*Swedish Investor A/B is up today. IVSBF owns a chunk of NDAQ, Nasdaq.

*Finnish Sampo Oij is up even more. 0.4%. SAXPY is exiting Nordea Bank nudged by US Elliott.

*AstraZeneca stopped falling and even rose a bit despite its having to re-run some of its trials for the Oxford Vaccine against Covid-19. UBS raised AZN to neutral after its Forxiga won OK for treating heart disease in Japan.

*HSBC Bank cut its rating for BP plc (BP) from buy to hold. The UK oil company's ADRs fell 5.73% here.

*In sympathy, Royal Dutch Shell B (RDS-B) shares fell 5.4%.

*Dutch Antillean Schlumberger Ltd (SLB) dropped only 1.87% because it helps find other hydrocarbons.

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William K. 4 years ago Member's comment

I had a similar incident with my wallet a few years ago, it vanished in the crowd in Home Depot store, and was found, missing every bit of $250, a week later in a Meijers store that I never visit. And no attempts with the credit cards, partly because I stopped them just two hours after the incident.

Interesting news about the ups and downs of companies, and it is always a puzzle about Bitcoin which to me still seems a bit subversive from where I stand.

Susan Miller 4 years ago Member's comment

Oh Vivian, I'm so sorry you had to go through that. But thank goodness you are okay and it was nothing irreplaceable.