S Juvenile Investing Mob

I don't think Google is taking revenge on France for fining it $270 mn for its dominance of online ads, but what do I know?

Today's blog is truncated because huge segments of the Internet are out of service. The web is not only subject to hacking and lack of privacy. It is also unreliable. I use brokerage accounts to find the news and today my brokerage account is kaput. I get notifications of changes in ratings for companies I own which are allegedly made hours later than now. I get news from companies I own that are inaccessible. I get a blue screen of death server error at my brokerage account now reading “500 Internal server error” but it worked earlier. We are either seeing huge volatility or bad data.

Happily, the meme system remains online with a new favorite for the juvenile investing mob, Clover Health Investments CLOV. It is a SPAC-listed firm that went public early this year and is the subject of a probe by the SEC. More healthcare news below.

Equity, Fairness Equitable, Letters, Scrabble, Equal

Image Source: Pixabay

Mining

*Among the frustrations of the internet outage this morning is news about a takeover bid for our Trans-Siberian Gold listed in London, from a Russian bidder. I got into this one when I visited a fellow Harvard Russian student, Chris Ryan, in Cambridge, England some years ago. I blogged about it. To find out more please don't telephone the company which doesn't respond to calls at 441 480811871. Do not visit the downed website. Instead, write to POB 278; St Neots PE19 9EA in East Anglia, Great Britain. I am doing this after my blog is sent. Good old Royal Mail still works.

*SPDR Gold may or may not be down 0.4% but be up 97.4% from our basis. GLD.

*Kirkland Lake Gold, KL, is at $42.89 but did not trade today according to TDAmeritrade-Schwab.

More blanks

*Barry Olliffe, founder and now retired head of City of London, a fund of funds, has sold 43,000 shares in the company. We now own a copycat, Lazard, LAZ, up 0.13% and its fund of funds, Lazard Global Total Return and Income Fund, LGI, both up and down today, maybe because of the outage.

Global Net Lease, GNL, reported today that it collected 100% of rents falling due in Q2 and that it had made acquistions YTD of about $270 mn. It is a REIT for North America and northwestern Europe.

*Atlantic Yield probably gained 0.44% in UK trading. AY.

Healthcare

*Unlike Biogen, BIIB, our Japanese stock expected to produce a new treatment for Alzheimer's disease did not crash as far, with Eisai down only 8.9.% according to my brokerage account, at $105.62. The problem is that if this data is right, ESALY is down more. Welcome to the outage. It traded, perhaps, at $110 at the US opening. Do not sell any stocks today. The brokers are all suffering from an Alzheimer's variant called no-data. BIIB lost 1 or 2% depending on when you looked.

*Citi writes that Swiss Roche RHHBY and others trialing Alzheimer's drugs will get full FDA approval based on the Biogen ok. RHHBY will end its trials for gantenerumab in mid-2022 and if Citi is right hit the market in 2023, and sell as much as CHF3.2 bn by 2030. Source: Cecilia Buteni of the WSJ.

*Israeli TEVA is down 0.98%, maybe, at $10.64.

*Israeli Enlivex is now expected to earn minus 19¢ in the current quarter, up by 2¢ from prior ENLV loss estimate.

*New buy Alkermes of Ireland may have risen today by 2.55% or not. It did hit a new high yesterday but fell later in the day. ALKS.

*Israeli Compugen CGEN almost certainly did lose 4.9% today from Monday's peak but it is still well ahead. Israeli websites in Hebrew don't seem to be affected by the outage. It opened premarket at $8.33 but now is $7.55-7.56. It reported to ASCO on COM701 and Bristol-Myers' Opdivo to treat colorectal cancer shrinking the tumor at dawn today. Patients with anal squamous and liver cancer are now at 96 weeks and 75 weeks are still in treatment. So the drop is inexplicable.

*Bioline RX may have gained 1.43% today but the chart shows that the Israeli BLRX stock fell ~ 1%. BLRX.

*Organon & Co OGN, the spinoff from Merck MRK which I bought more of yesterday (I hate odd lots) fell another 6.8% today. It was tipped by Barron's.

*Glaxo is down 0.04%. The advance shares rose 2.5%. GSK.

*Astra Zeneca stock rose 1.17% in Britain today but the US AZN share dropped 0.23%, maybe. AZN.

*Esperion Therapeutics, a US small-cap, gained 6.15% today, hitting $22.47. ESPR loses money and pays no divvie but settled a class action suit brought over alleged misrepresentations of its cholesterol reduction drug. ESPR.

*Novocure gained today, back over $210/sh. I am not sure if this is from Israel or the Channel Islands. NVCR.

Tech

Tech stocks did well in Europe but not in the US. The data are unconvincing.

*Finnish Nokia may have gained 2.6% today in London trading hitting euros 4.65/sh. Or not. NOK.

*Ericsson, ERIC of Sweden, gained 0.53% today after it was tipped by Zacks Mon.

*CAE appears to be today's top winner, up 4.5% on hopes for airplane pilot training needs.

*IBM is up 1.8%. This I believe is true. Most of the plus moves are on Q.

*Norwegian Tomra Systems may be up 3.61% or down 1.96% It makes recycling systems and reverse vending machines. But its prices do not make sense. TMRAY.

*Korean Coupang COUP is down over 1% to $38.18-38.2. CPNG. Mercado Libre, MELI, is off 1%.

Oil and energy

The future price of West Texas Intermediate, the crude benchmark, hit 1.2% to $70.05/bbl a 3-yr high.

*Schlumberger Ltd SLB of Curação may have risen 0.64% today—a $64 question. CFRA cut its rating for SLB to buy from strong buy but upped its 12-mo target price to $40 from $34. It also upped its eps estimate for this year to $1.13 from $1.03 and for next year to $1.57 from $1.47. This may mean CFRA is hedging its bets or that the information is incorrect. The oil price is up.

*BP plc stock rose 1.9% to $27.78 hereafter crashing 1.3% in London. Its year's high was $28.57

*Royal Dutch Shell B fell 0.16% to $37.41. Dutch A shares rose 0.08% to $39.71. A pays more tax. RDS-B.

*Antofagasta of Chile, primarily traded in London, is allegedly up 4.7% today to $22.5. ANFGF rising would mean political risks in Chile are down, not the case now.

*Tesla fell under $600 to $598.98 today after it was labeled an electric vehicle laggard by DataTrek Research founder Nicholas Colas according to Benzinga. Benzinga wrote that NIO's ET7 Sedan could become a best-seller without citing a source, possibly Mr. Colas. NIO rose 4 to 6% so far today.

*Energy Fuels, UUUU, filed for a $50 mn common stock fundraising last night (after announcing it would present today at the LD Micro Hall of Fame today). It trades on the NYSE but may have been halted in Canada which goes in for halts. Source: Benzinga.

*Earthstone Energy may be up 6.61% today but the ESTE chart shows a rise more like 1.8%.

*Cabot Oil & Gas recovered by over 0.7% today despite being rated sell by Johnson Rice, a little known brokerage, with a tp of $18. Its merger with Cimarex led to a spate of class action suits and downgrades, mostly to hold.

*NIO fell a bit, unlike Tesla which fell ~3%.

*Canadian Solar, CSIQ, is up 1.5%, maybe.

Finance

*Banco Santander may have fallen 2.51% in Madrid to euros 3.38/sh. SAN.

*AIA Group Hong Kong (AAIGF) was up 0.16% or not, having ranged from 12.84 to 12.14.

*CBOE Global Trading, which wants to create a website for bitcoin, ether, Dogecoin, rose 0.52% today having opened up 3%. It operates on markets and OTC worldwide and is the former Chicago Board Options Exchange. Waiting for permits for its new business it has taken to producing data tracking meme Reddit stocks.

*Scotiabank, my Canada fave, is down 0.06% on the NYSE. Not enough to buy BNS. It was tipped as a buy today by Barclays, the UK bank.

*Swedish Investor, a fund, gained 0.8% thanks to Q perhaps. Finnish Sampo Oij fell 0.36%. IVSBF; SAXPY.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.