E A Wild Day

Food

*Mexico will be the site of Wonder Brands investment of $48 mn for digitization of its products funded by Lat Am venture capital groups ALLVP and Mountain Nazca. The target is Mexico's own bakery giant, Grupo Bimbo, a Mexican-owned global company. GRBMF is $1.84 bid, 2.09 ask. GRBMF.

*Nutrien of Canada, the supplier of fertilizer and seeds, fell 0.4%. NTR.

*Orbia Advance which still trades as MXCHF, is untradeable, at $3.19 bid, $21.43 ask.

Drugs

*Astra-Zeneca and Glaxo both opened up hereafter rising in London today. However, Roche, RHHBY, and Novartis, NVS, Swiss drug majors, opened lower because of currency factors. RHHBY got FDA ok for its systemic sclerosis interstitial lung disease drug Actemra, its first biologic approval and it set a dividend of $1.28, a 3.11% yield, and now is up 0.4%.

*Smaller drug stocks are almost all in the tank: Abcellera off 6.3%; Aurinia off 5%; Compugen off 9.8%; Enlivex off 5.6%; BiolineRX off 6.5%; Grifols off 1.7%; Teva off 3.1%; Zymeworks off 3.7%. Israeli stocks often misfire on Friday when Tel Aviv is closed. Spanish GRFS later rose 1.4% despite convalescent plasma to immunize US covid-19 patients being dropped by the NIH.

Energy and materials

*BP plc is beneficiary of Opec cutting output and the US looking to boost the odds of a recovery, with its shares up 3.3% at the open today. It was tipped by Jennifer Warren in seekingalpha.com today. Royal Dutch Shell RDS-B is up 2.7% although nobody wrote it up.

*However Schlumberger Ltd, despite its new deal with Microsoft, is down 0.5% after it rose 3.92% in the London pre-market. Never predict, particularly not about the future. SLB.

*Canada Solar is back down by 8.37%. CSIQ should benefit from the switch to solar panels even if interest rates rise.

*Highflyer Energy Fuels, now with Neo Performance Materials a global refiner of rare earths, UUUU, fell 7.8% after hitting a 12 mo high yesterday. The reason may be a new safe factory form making pressurized water reactor fuel rods by Rosatom of Russia in Demitrograd.

*By announcing that it will report Mar. 11 on its Q4 and 2020, high-flyeer Earthstone Energy, ESTE, rose 5.11% to $8.42 near its 12-mo high.

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William K. 2 months ago Member's comment

Intteresting and informative as always, V.L. And it seems that the news is rather encouraging as well. Thanks for the good article.