Thursday Market Overview

The big news yesterday that I did not bother inputting is that Charles, Prince of Wales, designated our Atlantica Sustainable Infrastructure Fund, AY, which we own directly and also via our cross-border Canada utility stock Algonquin AQN as a recipient of the Terra Carta prize. Since this is a dollar-denominated fund listed here as well as in the country of the Glasgow summit we are truly honored. 

I reported on two drug companies briefly in the rush blog I wrote, TEVA and Novo Nordisk NVO, but the rest was too much to cover. You should know that NIO fell 3.6%, not tracking other electric car markets like Tesla, BYD, and Li Motors because Forbes, which has become a PR site, failed to mention it in its stock note. Malcolm Forbes whom I knew in Paris would be turning over in his grave.

If you are an IBM shareholder you now own something new Kyndryl.

person using macbook pro on black table

Image Source: Unsplash


*Veolia reported 9-mo profits today not those of the last quarter, and initially, the press thought it had managed an 8.8% y/o/y rise in quarterly revenues. But we are talking about 9-month revenues although to the best of my knowledge there is no baby at VEOEY. Its 9-mo EBITDA hit euros 3.14 bn and the EBITDA margin 15.4%, also for 9 months. VEOEY expects its full-year EBITDA to top euros 4.1 bn and to gain a further euros 350 mn from efficiency gains. Where are the editors?

*BCE reported today that its adjusted earnings per share was 82 loony cents, in line with estimates, equal to about UD 66 cents. Last year it earned 77 Canadian cents in Q3. Sales were C$2.56 bn up from prior year's C$2.45 bn. The stock fell 0.04%

*Vodafone is one of the pioneers for Swedish eco-rating which covers the impact of ditching your old cellphone which doesn't have resale value. British VOD also is rumored to be a takeover candidate. It operates mostly in foreign countries ranging from Serbia to Kenya.  

*South African Multichoice is another possible takeover stock. MCHOY.


*Merck, a US drug stock I own, beat handily and having fallen yesterday today is up more than the drop, by over 2%. MRK.

*Pfizer expects to collect $65 bn in sales of covid jabs this year and next. PFE.

*Roche which is buying back its shares held by fellow Basel Switzerland drugmaker Novartis gained 0.32% today while NVS fell modestly. It will pay the equivalent of $20.7 bn There was a plot to combine them which was defeated by the controlling Roche clan which owns almost all the shares in RHHBY. It would also have led to fears of price-fixing. 

*Teva is falling hard over intimations that it is lying about its green production plans under its new loan. It is not lying. That's Tesla's gig. It is just than while its lower price targets for generics for poorer countries are easily fulfilled, the plan to cut carbon and greenhouse gases depends on new systems of production which have to be created and tested. I suspect that the selloff of TEVA, now under $10, includes some anti-Semitism.

*Compugen rose 2.5% yesterda. CGEN is Israeli.

*Next Monday Glaxo will run a seminar on kidney disease which anyone among you suffers from may be worth attending. GSK.

*Zymeworks of Canada rose yesterday by 3.22% so today its target price was cut by SVB Leerinck, the Silicon Valley brokerage. I think SVB is out of its depth. ZYME.

*Exelixis fell 10% after reporting. EXEL.

*Esperion's loss estimate was lowered but Reuters said it had been raised. Where are the editors of these sites all run from emerging markets? ESPR.

*BiolineRX will finish phase III trials of its Motxafortide against multiple myeloma. Its granular cystics cell transplant drug also in phase III. BLRX.


*Mexichem (crop and fertilizer products) rose 10% today despite being downrated to equal weight. and REIT Fibra Uno rose 9.75%.

*However Banco Santander fell after extending the time period for its buyback of its US consumer loan arm yesterday. SAN.


*Plug Power (PLUG) rose and then fell yesterday on hopes for green hydrogen at Glasgow. It is up 0.37% today. 

*Energy Fuels (UUUU) which mines uranium is up 12.4% over the past 2 days and hit a new high. 

*Cathy Woods loaded up on Tesla yesterday when it fell because Mr. Musk said he signed a deal with Hertz when this was not true.

*Schlumberger Ltd SLB is our most volatile energy play in part because it is heavily owned in Europe and had good results last month. I think there is more to the company than merely the finding of oil as it also can find water using its systems


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