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Wall Street reversed from an earlier drop in prices; mow only the tech-heavy Nasdaq is down.

Inoculations and health

The Trump Administration failed to sign up for more jabs from Pfizer than had been initially ordered on the assumption that the virus was fading last summer, so it was not just the President who was deluded. Now there is no way to up the order while foreign countries inoculate their populations. PFE is rolling out its vaccine and the stock is up 2%.

As is normal on Monday, yesterday saw another notification on a coronavirus, but a very discreet one. Janssen-Cilag, a Swiss concern, sought permission for its inoculation according to a press release in German by Swissmedic. It will be allowed to test its product in phase III on a rolling basis without having to wait for the permit. Swissmedic was already testing three other vaccines on the same basis. Janssen-Cilag is a sub of Johnson & Johnson (JNJ). Its jab is based on recognition of the spike protein on the surface of the virus. Its new phase III trial is testing a 2-dose regimen vs the earlier single one.

Our newest sector share, ENLV, Enlivex Therapeutics, opened higher by 7.9% after its patent was recognized by China. Yesterday after hours it rose 4.4%. The Israeli firm makes a drug which cuts the risk of cytokine storms from Covid-19 and other infections.

The next best drug performers today are US Theravance (TBPH) up 4% and ThermoFisher (TMO) up 3%.

Glaxo won US FDA approval for its biologic Nucala (meposlizumab) to treat patients for chronic rhinosinusitis with nasal polyps. This can require surgery and reappear after it. The trial studied 400 patients who had symptoms after surgery. There is no other treatment. This is a rare biologic approval.

GSK which is in the process of restructuring, rose modestly today, up 0.4%.

A little old lady in Britain got the first Astra-Zeneca jab today, which boosted the AZN share 1.3%. The Oxford vaccine is very safe and giving a half dose for the first jab boosts its efficacy according to The Lancet, a highly respected British publication..

Tobacco firm Altria Group (MO) was rated AA for climate change and water security impact by non-profit CDP. MO is cutting its greenhouse gas emissions, waste, and water use to keep warming under 1.5%. MO is a shareholder in Anheuser-Busch-Inbev (sold), why I got this release.

Japanese Takeda (TAK) after its cytomegalovirus oral drug was written up in the New England Journal of Medicine after its successful phase II trials in cell or organ transplant patients, is up 1.22%.

Beigene rose 5% hitting $228.65. It was re-rated buy by Ladenburg Thalmann with a $278 TP.

Teva is up 6.9% today.

Bavarian Nordic of Denmark is creating phantom shares to use to reward employees not eligible for warrants. We sold BVNRY, a supplier to JNJ of jabs against rabies, Ebola, encephalitis, and smallpox.

Energy

Ormat (ORA), a US hit $77.96, up 2%+ after it settled a class action suit. The geothermal firm is Israeli-owned but US-incorporated. It has now recouped its losses YTD.

Usual suspects, BP plc, Royal Dutch Shell B, and Schlumberger all gained. SLB presented at a Cowen energy confab. Green energy hands walked out on RDS-B for switching from oil too slowly.

Our Heogh LNG Partners LP HMLP-A preferreds, now our only prefs, gained 0.6% today after the 8.54% yielder bought back phantom shares held by its Norwegian brass in the Caribbean sub.

While Algonquin Power & Utilities (AQN) rose today, its part parent Atlantica Yield (AY) fell.

Canada Solar, CSIQ, is back among the risers today and then reversed.

Energy Fuels, UUUU, fell 5.61% today and then reversed into positive territory.

Nio rose 1.85% tracking Tesla. We sold the electric vehicle maker too soon, better than too late. Both are selling more cars.

German ute E.ON, EONGY, is up 1.2% because Tesla will be trading electricity in Europe for recharging its cars and also supply homes. The bulls are forgetting that EON has to wind down a lot of fossil fuel power plants and also nuclear ones (because PM Angela Merkel did not oppose German nuclear panic despite being a scientist herself). The idea is to use cheap electricity generated at night for the German homes and charge more at recharging stations by day. I still prefer the NIO charging plans, leasing batteries so they can be switched at service stations.

Banks and Finance

Scotia Bank was upped to outperform with a US 77 target price from neutral $71 by Royal Bank of Canada.

Standard Life Aberdeen rose 3.5% today it SLFPY sold its stake in HDFC Insurance in India.

Virgin Money UK was rated Buy by Liberum Capital, Marketbeat wrote. It allegedly trades OTC as CYBBF. It shafted its ADR owners by delisting here.

Banco Santander is back in the plus column today at $3.32 after its $100 mn lead finance deal with private energy group Holtec International closed in Madrid. Holtec, headed by Dr. Krishna Singh, decommissions nuclear power plants and deals with nuclear waste storage and transport..

Mexican stocks

Global bakery firm Grupo Bimbo GRBMF rose another 4.3% to $2.25 at the opening. .

REIT Fibra Uno sold three plots of land in the provinces for dollars at a profit equal to 77 mn of its shares (or which cut its debt $1.85 mn). It rose 1.42% to $1.04/sh. It awaits the Covid ending to make money with Mexico malls. 

Orbia Advance Corp., MXCHF, maker of drip feed systems for farms, gained 20.48% to $5 on no news. To be exact it is $4.25 bid and $6 ask, making its gain 54%. It rarely trades here.

Cemex was tipped as a buy in Talkmarkets by Manisha Chatterjee of StockNews.com despite its price nearly doubling in the last 6 mos. It also is actively cutting carbon emissions by how it distributes cement in Mexico and expanding via takeovers outside Mexico.

Tech & Telecom

Ericsson fell 0.5% but Nokia gained 2.34% on a divergent view of 6G telecom outlook in Europe.

Prosus (PROSY) fell 1.24% in the wake of Tencent and Naspers (NPSNY) fell 1.17%. Tech was down today.

However Argentine Mercado Libre rose 0.75% as it is a growth champion.

Nintendo jumped 1.4% on hopes for Xmas shopping. It makes consoles and games.

Reverse vending machine firm Tomra Systems gained 1%. Reverse vending is green and it will become less fraught once the virus no longer lurks in empty bottles.

NTT Docomo (DCMYY) is trending upward, rare in this sector. We decided not to sell before its sale to its parent is concluded. The Yen is rising.

British arms-maker BAE Systems won an order for $60 mn for advanced stealth missiles targeting ships from Lockheed Martin. BAESY says its Long Range Anti-Ship Missile seeker targets enemy ships without depending on intelligence, surveillance, reconnaissance, network links or GPS navigation. BAESY stock fell 1% today maybe because LRASM sounds dangers..

Mining

Gold is up again.

Johnson Matthey gained 3% in London trading today because the pound slipped over Brexit deal delay. JMPLY refines and sell platinum group precious metals.

Kirkland Lake Gold, KL, fell today despite bullion. It has prospects and yields 1.86%.

Chile 's Antofagasta PLC aiming at winning a Copper Mark for sustainable mining. Its prime listing is in London and it wants to be eligible for purchase by green funds.