E Unusually Heavy Friday

Costs of revenues rose 8% to $26.400 and operating income fell by $88,000. It had $2.646 million in financial expenses. Novocure, with its TTF, has a wholly new method of using alternating electric currents to zap cancer cell division and spread. If it works, it will change how cancer is treated.

Weyerhaeuser (WY) dropped 6.41% today and remains down 4.12%, after an EPS miss at 91¢, a penny below the forecast, but up from 48¢ in Q4 and 18¢ a year earlier. Sales came in at $2.51 billion, below the consensus forecast of $2.57 billion or $2.52 billion, depending on which report you read. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) beat at $1.10 billion versus estimates of $1.09 billion.

Lumber sales were up 42% from the prior Q1 and the oriented strand board was up 22%. It forecasts the current quarter will produce adjusted EBITDA for the current quarter at ~$225 million, a big jump. Confusingly, it will sell 145,000 acres of timberland in the State of Washington (Northern Cascades) for $266 million, which would more than cover the increased EBITDA forecast.

An article on Chinese electric vehicles signed by Jonathan Weber opted for Nio (NIO) over competitors like XPeng (XPEV) for its battery swap system and predicted it will beat its 80,000 car sales target for this year. He expects revenues will hit $54 billion, up 59% in 2021, and reach $12.5 billion in 2022. We sold 2/3 of our Nio stock earlier this year. I am pondering buying some of this back. However it is up 2.9% today, so I have to wait. 

Hoegh (HMLP) shares are among the few winners in the oil patch. It is up 0.4% on no news. Schlumberger Ltd (SLB) fell 2.52%, losing yesterday's gain. Alcon will acquire all rights to glaucoma drug Simbrinza from Novartis (NVS) for $355 million when the deal closes this quarter. It will boost the focus of Alcon on closure, which is expected in Q2. Novartis is down 0.845.

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