E Stunning Market Debut

Drug companies

*Novacure of Israel and the Channel Islands was downgraded to underperform from neutral by Wedbush analyst David Nierengarten who argues that the Data Monitoring Committee recommendation may mean not that its electricity cancer cure works, but that it doesn't. In either case, the outcome of the trials may be speeded up. Most analysts are positive and Mizuho raised its target price to $242 from $175. NVCR fell to $290 in post-market trading, down 3.7%, and now is at $184.21. Israel is closed.

*TEVA gained 2.14%; Zymeworks ZYME gained 9%+. Both have been weak-kneed lately, although they are run by Israelis and an Arab CEO respectively.

*Compugen rose 1.32% after opening up 5%. Israeli markets are closed for Memorial Day today and Independence Day tomorrow. CGEN.

*The drug sector today is full of Schadenfreude, happiness at the problems of others. The European Union is ending its contracts with both Johnson & Johnson and Astra-Zeneca over covid-19 vaccines. AZN also was boosted by getting Chinese approval for its lung cancer drug Tagrisso.

Dividends

*Antofagasta rose 1.7% in London where it trades in $s as ANFGF. It barely registers here. We will get a divvie however of 48.5 cents/sh on April 22. Copper is in play because it will cost $15,000 per ton in 2025 according to Goldman Sachs.

*UK BAE Systems rose 3% today on no news. BAESY was cut to neutral by BNP Paribas last week. It will pay its divvie of 79.34 cents on April 22 (cf Antofagasta above.)

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William K. 1 month ago Member's comment

Very interesting