E Another Bad Day For Stocks

Banks and Insurance

*We are now proud owners of Clydesdale & Yorkshire Banking Corp, CYBG, which bought our Virgin Money stock. E-trade collected a $38 reorganization fee which was a bit steep for giving me a stock trading at $1.2125 per share. E-trade reversed the charge but you should ask your broker to do the same.

*Banco Santander is under investigation for aiding in tax evasion in Germany which took down the share. SAN management said if there were help inside the bank it was a rogue employee. It also may allow a stock dividend for shareholders, something I tend to avoid.

*Hong Kong appreciates AIA whose stock rose 0.7% in a down market. AAIGF sells insurance all over Asia. Most financials there are in the red.

Food & Energy

*Greencore is up GBX120 on renewed optimism over its sale of its US ready meals business to Hearthside for over $1 bn. Firstly funding for the deal was confirmed by lawyers Ropes & Grey LLP and then Kepler Securities reiterated its buy rating for GNCGY.

*Royal Dutch Shell gained because of the decision by fellow dual-listing company Unilever to stop trying to end its British listing. Big sales would have to take place among fund managers if the 
Anglo-Dutch gang become solely Dutch. RDS was upped to outperform by Royal Bank of Canada and its target price upped 10% to GBX 3200.

*BP Plc started the Thunder Horse project in the deepwater Gulf of Mexico 4 months early and 15% under budget. 


*We are not proud owners of Japan's Takeda which has won Japanese permission to buy out our former Irish stock, Shire. We sold because of uncertainty.

*Novartis is buying Endocyte for $2.1 bn to boost its radioligands options for delivering treatment prostate and eventually other cancers. ECYT makes lutetium-PSMA617 which binds to the cancer for diagnosis and (they hope) a cure. NVS is paying a 50% premium. NVS is also investing $60 mn in an Israeli IPO on Nasdaq for Gamida Cell valuing it at $1275 mn.

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David J. Williamson 11 months ago Member's comment

I like $BLRX. What was the Gamida cell news that I missed?

Harry Goldstein 11 months ago Member's comment

Fascinating. I've often wondered if some of the laws of the Bible have positive effects we don't know about. For example, we now know that the edict to wash one's hands before eating has numerous health benefits and helped Jews survive some of the worst plagues in history.

I also remember attending a lecture long ago where the speaker claimed to be part of a scientific study on the wearing of the talit which is worn during morning prayers. He described numerous benefits which I can no longer remember. I tried to look them up online but this speech was long before the internet.

I did find this similar study though I don't know how reliable the source is:


Gary Anderson 11 months ago Contributor's comment

Interesting. We should all test our blood pressure more. Constricts blood vessels.

BreakingBad News 11 months ago Member's comment

Interesting yes, but I find it hard to believe. Would like to see some proof of this. Maybe I'll convert!

Ayelet Wolf 11 months ago Member's comment

I actually had read about this myself. You can find the article here:


BreakingBad News 11 months ago Member's comment

Wow, I guess I need to put my money where my mouth is now... call the local rabbi!

Seriously though, while fascinating if true, this is a very small sample size... 20 people. Probably not enough to be scientifically significant. Would like to see a larger study on this.

Carol Klein 11 months ago Member's comment

I wonder if there's any difference between which arm is used and if women would share in the same benefits. I do know there are some women who wear phylacteries/tefillin.

Gary Anderson 11 months ago Contributor's comment

It all comes down to the fact that it is a substitute for good old exercise!