E Wednesday Is A Normal Day

Today is my first normal day this week as there are no elections and my husband is back on his feet. It is also a hot news day with no less than the risk of a new Crimean War after Russia claimed that it had targeted a British destroyer off the coast. The UK said this had not happened. I tend to trust the Brits but after their last move into the jaws of death, I am not sure they are fully informed.

Warren Buffett in today's wee hours resigned as a trustee of the Gates Foundation and gifted $4.1 bn in Berkshire Hathaway stock to it. He keeps his taxes low with charitable gifts. He also announced that he was buying geothermal stocks. We own one, but it may not be on his buy list.

Equity, Fairness Equitable, Letters, Scrabble, Equal

Image Source: Pixabay

Thanks in part to Cathie Woods whose funds she says bought heavily, the leading crypto-currency recuperated late yesterday from a level below $30,000. Overnight it rose ~5%. It is now $33,907, about where it began the current year, up over 10%. It briefly was over $60,000 last month.

Meme stocks Gamestop GME and Torchlight Energy TRCH both did share sales to cash in on their share price rises.

Microsoft MSFT, a US share I own, has become the 2nd company valued at over $2 trillion. The first is Apple AAPL.

Tel Aviv plans a trial for an ethereum digital shekel to be issued by the Israeli Central Bank. Hedge Fund White Square ran out of money, perhaps from shorting Tesla TSLA.

Drug dealers

It looks like several vaccines against Covid-19 product heart inflammation mostly in young. Now 1200 victims were spotted with myocarditis or pericarditis by the CDC after the Pfizer or Moderna jab.

*Glaxo Smith Kline of Britain held its investor day in the wee hours and as expected announced formally that it will spin off its consumer unit. There also will be an ADR for US owners, the least it can do given that Smith Kline used to be American. As forecast by Jim Cramer on CNBC, the dividend, formerly 5.56%, was cut. He expected a share price drop would cause a buy opportunity but this didn't happen because CEO Emma Walmsley, for all her allegedly weaknesses, had signaled that this was coming well before it was official. In fact, GSK wound uprising in UK pre-market trading. Whether or not this leads to a drop in the USA is something I will leave for Cramer to predict. The new dividend is 43 pence/UK share, down 31%. Right now the ADR is up 2.12% to $39.91 on hopes of a better growth future as it focuses “New GSK” in Walmsley's words, on “infectious diseases, HIV, oncology, and immunology. The spinoff will be 80% owned by a JV with Pfizer but parent NewGSK will retain 20%.

*Another drug major, Israeli Teva's migraine jab Ajovy with monthly or quarterly variants, won Japan approvals. It worked there with Otsuka Pharma. The Israeli firm also launched a generic formoterol fumarate inhaler for lung diseases in the US market. Teva rose in the pre-market and now is up 15%.

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William K. 2 months ago Member's comment

Computer driven cars will never honestly be dominant because the benefits they offer are not needed, and are not worth the extra cost, by the vast majority of drivers who never have accidents at all. And certainly the computer driven cars will cost a lot more than a similar non-computer driven car, both in purchase price and in the upkeep costs. And they will never be as good as the average good driver.