Up On Bad News

Alexei Navalny was sentenced to a further 9 years of jail for sending out notices against the Russian invasion of Ukraine via his lawyers. Putin is cloning Joe Stalin.

After the plane crash in China, Boeing's BA stock is up sharply. My son the CFA keeps trying to lure me into the airline's shares, so far resisted strongly. Despite the Chinese crash, the stock is up 2.45%, so don't listen to me.

Lapsus$ hackers appear to have gotten access to Microsoft's MSFT internal source code for Azure Development Aps. This one I do own. It also went up on the bad news.


*Pfizer today invited shareholders to sit in on the analyst webcast. The PFE stock fell 2.54% as a result. This despite or because of a supply deal with Unicef for 4 million doses of its covid-19 drugs niratrelvir and ritonavir for African countries. PFE made its offer after Fosun, the Chinese generics firm, got an order in via the Medicare Patent Pool. Pfizer by offering a match can stop Fosun from mastering the whole production process. Fosun got emergency authorization from our FDA and other major drug regulators last year and was gearing up to serve as many as 50 countries with low to mid-income. It is in Pfizer's interest to get the business itself. Explaining this to shareholders is not a slam dunk. More drug news below.

Hands, World, Map, Global, Earth, Globe, Continents

Image Source: Pixabay


*Kyndryl KD today rose 3.1% after its share rose above the Pomerantz target price of $12.91 to $13.3.

*NIO rose on China's hopes and stabilization measures by Beijing. Despite its low rating, the share is up 7.72% (opening up 8%) in Hong Kong. Its current loss expectation is 2.974 HK dollars, up from minus 1.348 HK dollars earlier. 

*Tencent went up 5.9% to HK$50 (TCEHY). 

*REIT Fibra Uno of Mexico gained 22.62 in European trading. This is not a serious market for Mexican shares. FBASF.

*Grupo Bimbo was today's champion, up 18.18% at the opening and now up $17 and change. It is a Mexican global baker chain. GRBMF.


*Goldman Sachs in London today rated Schlumberger Ltd of Curacao a "conviction buy" which should play out well here.

*Plug Power is up 6.19%. It has a sideline in rare earths. PLUG.

*Petrobras fell .54% to $13.66. PBR.

*Agnico Eagle was rated outperform by Raymond James brokerage. AEM.


 *Hikma gained 15.23%, at $28. HKMPF.

*Novacure recuperated and gained 5.67% today hitting $83.06. NVCR.

*Zymeworks rose $3.71. ZYME.

*VIR fell 1.14%. No reason known.

*Roche fell 0.08% while its fellow Swiss Novartis lost 0.6%. RHHBY.

*India's Dr. Reddy gained 10%. RDY.


*State Street (STT) rose 2.42% topping $90 per share.

*Scotia Bank presented at a stock conference and the share gained sharply. BNS is Canadian.

Disclosure: None.

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


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