E Stock Market Risks

Mexico

*Orbia Advance Corp (formerly Mexichem, traded on the OTC Market here as MXCHY), has ceased showing on my brokerage statements since Nov. The bid is $3.35 and the ask $824.58. Orbia bought drip-feed companies in Israel (Netafim) and in Europe. It is HQ'd in Mexico City on the Paseo de la Reforma 483 and its phone no. is 555 366 664000. Since I don't speak Spanish I wonder if Eduardo would be good enough to call them up to find out what is happening to our shares and dividends.

Apart from pardoning at last count 15 of his henchmen, El Presidente is also undercutting his own party by criticizing the stimulus package as too meager and calling for a payment of $2000 to every unemployed person, rather than $600. This is pure demagogy.

Perhaps worried about the reaction to its bearish remarks last week about stock market risks, today Value Line's Harvey Katz again suggested that “investors retain a decent weighting in equities.”

Other news is that jobless totals were lower than expected, at 803,000 last week. The forecasts ranged from 875,000 to 888,000. This is still pretty grim and Nov. saw an 8% jobless rate, up from Oct.'s 7%. The good news is that two vaccine companies are saying that their existing vaccines will work against the new mutation. The companies are Roche, BioNTech, Pfizer, AstraZeneca-Oxford University, and Merck. I suspect they know how their vaccines work.

Tomorrow the stock market here will close early for Xmas Eve. News follows from our companies.

Drugs

*Compugen CGEN, the Israeli startup specializing in computer-generated reactive drugs, will collect $2 mn from Astra-Zeneca to cover the first milestone from a bispecific antibody licenses to AZN back in early 2018. CGEN is up 4% on the news and AZN is up 1%.

*Astra-Zeneca also gained because it sold more doses of its vaccine to the US. So did Pfizer, for the same reason.

*Roche RHHBY rose because its Her-2 breast cancer drug, Phesgo, with Halozy, which can be infused in half the time of its earlier version of Phesgo.

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