E Sunshine And Grouses

After the cc, analysts at FBR & Co (according to Zacks) cut CGEN to outperform from buy with a 2018 (sic) earnings estimate of 2¢, down from 3¢, but kept their target price at $14/sh.

The stock was, appropriately, up 6.63% earlier this week. I am not the only one who worked to decipher what Dr. Cohen-Dayat was saying.

*Now that the fiddle over the warrants for Benitec Biopharma has come to an end it is no longer possible to get a proper quote on the Q traded shares from the grasping market maker. It is posting $5.9 bid $6.1 asked, a nice margin if you can get it.

*Irish Alkermes will present at the Crédit Suisse healthcare conference in Scottsdale AZ Nov. 10 at 9 am MST or 11 am EST. ALKS was an inversion stock we opted to keep because of its central nervous system focus.

Funds

*In anticipation of its Nov. 12 investor day, Fibra Uno (FBASF) stock keeps inching up in London. The REIT trades here as FBASF.

*New Ireland Fund (IRL) published its end-Oct portfolio and as before 22.24% of its assets are in Ryanair but CRH at 17.85% is growing. It is also gaining form the boost in Paddy Power which we sold too soon, now 7.91% of the portfolio, and 3rd. There is a newbie:Applegreen plc is at 3.8%. Despite the green name it runs gas stations and highway eateries. APGN comes after the usual suspects: Bank of Ireland, Kerry Group (dairy), andKingspan. IRL's Kleinwort Benson mgrs have begun buying into the hotel sector: Dalata,Hostelworld, and builder Grafton Group.

Services are growing hugely in the Auld Sod according to Irish purchasing managers' data (60.1 in Oct; down from the incredible 62.4 reading in Sept.) Because Ireland is a small country the numbers move around a lot. However the manufacturing PMI has lost 1.5% in the last half year vs the same period in 2014.

*After a Triangle-Shirtwaist-style fire hit a garment plant, Global X MSCI Pakistan ETF is up. PAK.

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