Private equity will play a larger role in professional sports, says Dallas Stars Chief Executive Officer Brad Alberts. He also talks about rising team valuations, streaming sports and if the team will move out of Dallas with Bloomberg's Julie Fine. (Source: Bloomberg)
Private equity will play a larger role in professional sports, says Dallas Stars Chief Executive Officer Brad Alberts. He also talks about rising team valuations, streaming sports and if the team will move out of Dallas with Bloomberg's Julie Fine. (Source: Bloomberg)
US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street leaders to give them an urgent warning: an artificial intelligence tool from Anthropic PBC marks the beginning of a new era of cybersecurity. The April 7 meeting in Washington was focused on Mythos, a new AI model that Anthropic says is so good at finding vulnerabilities in software and computer system...
US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street leaders to give them an urgent warning: an artificial intelligence tool from Anthropic PBC marks the beginning of a new era of cybersecurity. The April 7 meeting in Washington was focused on Mythos, a new AI model that Anthropic says is so good at finding vulnerabilities in software and computer systems that it can only be released to a limited number of carefully-chosen parties. If tools like Mythos fall into the wrong hands, Anthropic says, it could provide attackers with a powerful new weapon to steal data or disrupt critical infrastructure. Bloomberg's Todd Gillespie joins to discuss. (Source: Bloomberg)
mohd izzuan/iStock via Getty Images News is breaking today that Replimune Group, Inc.'s ( REPL ) Biologics License Application ("BLA") requesting approval for its drug candidate RP1 (vusolimogene oderparepvec) in the indication of anti-PD-1 failed melanoma has been rejected by the FDA - the second time the FDA has rejected the drug for commercial approval. At the time of writing, Replimune stock h...
mohd izzuan/iStock via Getty Images News is breaking today that Replimune Group, Inc.'s ( REPL ) Biologics License Application ("BLA") requesting approval for its drug candidate RP1 (vusolimogene oderparepvec) in the indication of anti-PD-1 failed melanoma has been rejected by the FDA - the second time the FDA has rejected the drug for commercial approval. At the time of writing, Replimune stock has fallen in value by nearly 20%, trading at a value of $4.76 per share - trading is currently halted. Stock is down >50% year-to-date, and nearly 85% on a five-year basis. In this note, I'll provide some background and context to today's news and speculate about what it means for the company and its share price and valuation going forward. Investment Overview - Background To Today's Decision This is in fact my first time covering Replimune Group for Seeking Alpha, although I have frequently referenced the Woburn, Massachusetts-based biotech in my coverage of Iovance Biotherapeutics ( IOVA ) in the past. As many readers will likely be aware, and as I noted in a March update on Iovance: Iovance's lifileucel, brand name Amtagvi, is a commercially available therapy for advanced melanoma, having been approved in February 2024, and together with Proleukin (aldesleukin), an interleukin-2, or IL-2, product used in the Amtagvi treatment regimen, helped Iovance post a revenue figure of $264m in 2025. it took far longer than expected to secure approval for Amtagvi than initially thought - the original biologics license application ("BLA") requesting FDA approval of the drug was submitted in 2022, but approval was not granted until 2024, testing Wall Street's patience. Replimune's lead product is RP1, indicated for anti-PD-1 failed melanoma, i.e., patients did not respond to treatment with an immune checkpoint inhibitor - likely Merck's ( MRK ) Keytruda (pembrolizumab), or Bristol-Myers Squibb's ( BMY ) Opdivo (nivolumab). Replimune, like Iovance, has undergone a long and tortuous pat...
Meta is still down over 5% in 2026, weighed down by child-safety verdicts, a $375 million fine, and AI spending anxiety, but the launch of Muse Spark from its Superintelligence Labs has revived some optimism around the company's AI roadmap at a time when its core advertising engine is still printing strong cash flow.
Meta is still down over 5% in 2026, weighed down by child-safety verdicts, a $375 million fine, and AI spending anxiety, but the launch of Muse Spark from its Superintelligence Labs has revived some optimism around the company's AI roadmap at a time when its core advertising engine is still printing strong cash flow.
The Bank of Canada and the country’s major banks and financial firms met Friday to discuss cybersecurity risks raised by Anthropic PBC ’s latest artificial intelligence model. The gathering followed a similar move by US policymakers earlier in the week. Bloomberg News reported Thursday that US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street leaders for...
The Bank of Canada and the country’s major banks and financial firms met Friday to discuss cybersecurity risks raised by Anthropic PBC ’s latest artificial intelligence model. The gathering followed a similar move by US policymakers earlier in the week. Bloomberg News reported Thursday that US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street leaders for an urgent discussion about Anthropic’s Mythos and similar AI models. The executives included Citigroup Inc.’s Jane Fraser and Goldman Sachs Group Inc.’s David Solomon. The Canadian meeting involved members of a body known as the Canadian Financial Sector Resiliency Group. It includes representatives from the six largest domestic banks, the federal Finance department, financial regulatory agencies, the parent company of the Toronto Stock Exchange and other firms. It’s another signal of the growing concern among regulators globally that more powerful AI models will lead to a new breed of cyber attacks against the financial industry. A spokesperson for Finance Minister François-Philippe Champagne confirmed the meeting took place on Friday. “The Bank of Canada is aware of this issue. We take cybersecurity very seriously,” Paul Badertscher, a spokesperson for the central bank, said by email. The CFSRG ’s mandate is to “enhance the operational resilience of Canada’s critical financial sector.”
Bordinthorn Loyrat/iStock via Getty Images I'm initiating Forte Biosciences ( FBRX ) with a "Hold" rating. The reason why I'm doing so is because even though in the past it had a rough failure with another candidate by the name of FB401 it might be able to potentially recover with another candidate that it has been working on. In essence, it failed to meet the primary endpoint of a phase 2 study u...
Bordinthorn Loyrat/iStock via Getty Images I'm initiating Forte Biosciences ( FBRX ) with a "Hold" rating. The reason why I'm doing so is because even though in the past it had a rough failure with another candidate by the name of FB401 it might be able to potentially recover with another candidate that it has been working on. In essence, it failed to meet the primary endpoint of a phase 2 study using live biotherapeutic FB-401 for the treatment of patients with atopic dermatitis [AD]. This caused the company to get rid of this program from its pipeline. That's the bad news; however, since then it was able to do pretty well advancing another candidate, which is the anti-CD122 monoclonal antibody FB102 for the treatment of patients with celiac disease. Specifically, it was able to report positive results from the phase 1b CeD trial using this candidate to treat these patients back in June of 2025. The main thing to note is that there is a major inflection point for this program this year in 2026, which is that it expects to report data from an ongoing phase 2 study for this very same program at such time. The hope is that this mid-stage study reinforces what has been observed in the phase 1b study, but this remains to be seen. The downside is that this company only has FB102 in its pipeline; thus, it needs this drug to work well in order to keep going as a biotech. On the flip side, the reason for the "Hold" rating is because there are going to be data readouts for two other indications that it is working on. One readout will be a phase 1b study using FB102 to treat patients with vitiligo, and then another one will be from a phase 2b trial using this very same drug to treat patients with alopecia areata [AA]. Celiac Disease Program with FB102 Has Potential Based On Phase 1b Data As I mentioned above, it took a long time for Forte Biosciences to come back from its failure. The good news is that it was able to release some positive outcomes using its drug FB102 as an a...
Tesla stock is down in 2026 and retail investors are piling in. But with missed delivery targets and a JPMorgan "Sell" rating, is buying the dip actually smart?
Tesla stock is down in 2026 and retail investors are piling in. But with missed delivery targets and a JPMorgan "Sell" rating, is buying the dip actually smart?
As the Iran war shakes up markets, strategists say there are still plenty of sources of relatively safe yield for income-seeking investors – but they will have to be discerning. The major averages were on pace for sharp gains on Friday, with the S & P 500 on the verge of erasing its losses since the start of the Iran war. However, markets have been on a roller-coaster ride since the conflict began...
As the Iran war shakes up markets, strategists say there are still plenty of sources of relatively safe yield for income-seeking investors – but they will have to be discerning. The major averages were on pace for sharp gains on Friday, with the S & P 500 on the verge of erasing its losses since the start of the Iran war. However, markets have been on a roller-coaster ride since the conflict began, with the broad market index down more than 9% from its high at one point. Higher oil prices have also spurred worries around inflation, spiking Treasury yields since the war started. Bond yields and prices have an inverse relationship. That means Treasurys were selling off as rates leapt. "Given what's happening with inflation pressures moving higher, it's been a little less exciting to leverage Treasurys as a flight to safety," said Anders Persson, chief investment officer, head of global fixed income, at Nuveen. "Now with inflation risk at the forefront and you add in these fiscal risks, you can see this tricky environment where Treasurys and risk assets are selling off at the same time," he added. Managing price volatility To handle the shakiness of the fixed income market, Persson stresses keeping credit quality high while also maintaining duration – a measurement of bonds' sensitivity to interest rates – "short to neutral." Bonds with longer maturities tend to have greater duration, so they will see the largest swings in prices when rates fluctuate. "We're focusing on the belly of the [Treasury] curve, a little shorter than 10 [years] and a little longer than 2," said Persson. Being near the "front to the belly" of the curve also leaves investors room to see how the Federal Reserve manages rate policy for the rest of the year, according to Russ Brownback, deputy chief investment officer of global fixed income at BlackRock. "We think by the end of the year, assuming there is no longer open-endedness to the geopolitical conflict, we think the Fed will be able to delive...