Rimma_Bondarenko/iStock via Getty Images Altimmune Inc ( ALT ) rallied over 60% from lows in April 2025, to highs in June 2025, prior to the 24-week data from its phase 2b IMPACT trial of pemvidutide in metabolic-dysfunction associated steatohepatitis (MASH). A key catalyst lies ahead in Q3'26, and investors might be wondering if we could see a similar run-up in the stock. My last article on ALT, ...
Rimma_Bondarenko/iStock via Getty Images Altimmune Inc ( ALT ) rallied over 60% from lows in April 2025, to highs in June 2025, prior to the 24-week data from its phase 2b IMPACT trial of pemvidutide in metabolic-dysfunction associated steatohepatitis (MASH). A key catalyst lies ahead in Q3'26, and investors might be wondering if we could see a similar run-up in the stock. My last article on ALT, in December 2025, rated the name a hold as the market remained unreceptive to updated IMPACT data, perhaps reflecting competition or the lack of a partner for phase 3. ALT's notable run-ups into data ALT rallied from April to June 2025, concluding the rally with a sizable drop when the market didn't like the 24-week data from IMPACT, which was met with an ~64% drop on June 26 pre-market when it was announced. Perhaps then the run-up trade was the better trade. Data by YCharts ALT trading since January 1, 2025, note the rally from below $4 towards $8 from April to June heading into 24-week data from IMPACT. A similar run up can be seen heading into 48-week data in December, before another drop on results. A less sizable, but still tradeable rally was seen after Q3'25 earnings , at which time ALT confirmed that the company expected to report 48-week data from IMPACT before year-end 2025. Of course the market didn't like that update either, or perhaps the regulatory update that came with it, regarding the design of the company's proposed phase 3 MASH trial. Indeed the stock closed down over 20% on December 19, the day of that update. ALT's RECLAIM study This time pemvidutide has another opportunity to perform, with the company confirming that it expects to report data from a placebo-controlled trial of pemvidutide in alcohol use disorder (AUD) called RECLAIM. ALT announced RECLAIM had completed its ~100-patient enrollment on November 3, 2025. A 24-week study might reach its endpoint by April 20, 2026, but ALT nonetheless gave guidance that the topline results were expected in ...
SlavkoSereda/iStock via Getty Images U.S. crude oil rose more than 6% Thursday to pass the $100/bbl level, a day after Nymex crude plunged in its biggest single-day drop since 2020, as the fragile ceasefire between the U.S. and Iran has not yet improved traffic flows in the Persian Gulf. Only seven ships made the voyage out of the Persian Gulf on Wednesday and into Thursday morning, according to B...
SlavkoSereda/iStock via Getty Images U.S. crude oil rose more than 6% Thursday to pass the $100/bbl level, a day after Nymex crude plunged in its biggest single-day drop since 2020, as the fragile ceasefire between the U.S. and Iran has not yet improved traffic flows in the Persian Gulf. Only seven ships made the voyage out of the Persian Gulf on Wednesday and into Thursday morning, according to Bloomberg, compared to normal transits in both directions that typically average ~135/day. Iran's Ports and Maritime Organization published two safe routes for shipping, Iranian state media reported, adding the routes were necessary to avoid any anti-ship mines in the usual routes through the narrow Strait of Hormuz. U.S. Vice President Vance said there were signs that Hormuz is starting to reopen, but Abu Dhabi National Oil CEO Sultan Ahmed Al Jaber disputed that notion, saying, "Access is being restricted, conditioned, and controlled." " Let's be clear: the Strait of Hormuz is not open ," Jaber wrote on social media. "Iran has made clear—through both its statements and actions—that passage is subject to permission, conditions, and political leverage. That is not freedom of navigation. That is coercion." Iran will allow no more than 15 vessels daily to pass through the strait under the ceasefire agreement, Russian state news agency TASS reported, citing an unnamed senior Iranian source. Front-month Nymex crude ( CL1:COM ) for May delivery jumped 8.2% to $102.21/bbl, and front-month Brent crude ( CO1:COM ) for June delivery added 4.7% to $99.20/bbl. ETFs: ( USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( XLE ) More on crude oil Commodities: Hormuz Remains Blocked For Now Higher Crack Spreads Are The Real Nightmare For Airlines 14-Day Ceasefire With Iran: Sell Oil And Buy Oil Companies
Prae_Studio/iStock via Getty Images By Samantha Parsons Determining how to allocate to fixed income requires careful consideration. Our monthly Fixed-Income Monitor consolidates the views of our investment team to help identify opportunities and risks across the asset class. Key takeaways for April 2026 The U.S.-Iran conflict continues to drive market volatility, with oil prices fluctuating around...
Prae_Studio/iStock via Getty Images By Samantha Parsons Determining how to allocate to fixed income requires careful consideration. Our monthly Fixed-Income Monitor consolidates the views of our investment team to help identify opportunities and risks across the asset class. Key takeaways for April 2026 The U.S.-Iran conflict continues to drive market volatility, with oil prices fluctuating around $100 per barrel for Brent crude. In bond markets, this translated into a growing disconnect between rate volatility and credit market resilience. The U.S. dollar strengthened as the preferred safe-haven asset. The Federal Reserve held rates steady at 3.5%-3.75% at its March meeting, maintaining a cautious stance amid elevated inflation concerns and heightened economic uncertainty. The Fed noted that inflation remains somewhat elevated and explicitly cited Middle East developments and rising oil prices as key risks to the economic outlook. Treasury yields rose significantly through March, with the 10-year U.S. Treasury ( US10Y ) reaching its highest level since July 2025, driven by a combination of elevated oil prices from the ongoing U.S.-Iran conflict, rising inflation expectations and diminishing near-term rate cut expectations. Rising real rates accounted for most of the increase in Treasury yields. Credit markets remained resilient , with spreads widening modestly. Duration was a larger headwind than credit, as investment-grade credit spreads widened but lagged the move higher in Treasury yields. Yields and credit spread tracker The proprietary fixed-income tracker compares yields and credit spreads over 20 years of history and across fixed income, which can help investors evaluate how they are being compensated for taking on risk. 1 Source: Columbia Threadneedle Investments. Data as of March 26, 2026. Each bar represents the range for the last 20 years, with the current percentile position indicated. Yield is represented by yield to worst, which is the minimum return ...
Tesla's March retail sales in China fell compared to the same time last year, even though exports from its Shanghai gigafactory surged. The stock is closing in on its eighth consecutive down week.
Tesla's March retail sales in China fell compared to the same time last year, even though exports from its Shanghai gigafactory surged. The stock is closing in on its eighth consecutive down week.
rarrarorro/iStock via Getty Images Trump Blinks. Disaster Averted. What's Next? The world has averted disaster for now. The Iranian war has entered a two-week truce, although it's way too early for us to ascertain a permanent cessation to the hostilities. The market has reacted favorably, and understandably so. After all, risk aversion reached feverish highs as investors contemplated far worse out...
rarrarorro/iStock via Getty Images Trump Blinks. Disaster Averted. What's Next? The world has averted disaster for now. The Iranian war has entered a two-week truce, although it's way too early for us to ascertain a permanent cessation to the hostilities. The market has reacted favorably, and understandably so. After all, risk aversion reached feverish highs as investors contemplated far worse outcomes in a prolonged conflict. And as I write this commentary, the Nasdaq ( QQQ ) ( NDX ) has almost recovered the losses from March as it took the brunt of the selling. Investors appear willing to look past the worst of the war, as dip buyers are looking for a way forward from here after President Trump's "imminent destruction" threat. Yet, I think we must be careful as we assess elongated tail risks from the deepening cracks in the underlying global order. And although I informed my subscribers (in Ultimate Growth Investing) that the bottom appears ready, I'm still paying close attention to the cracks and reordering of the global supply chain. Iran's Control Over The Strait Of Hormuz Unlikely To Be Weakened Iranian regime hold on the Strait of Hormuz (Yardeni research) Nevertheless, the temporary ceasefire should at least help the market calm down and reassess the risk/reward from here. One thing that we shouldn't be mistaken about is that Iran's control on the Strait of Hormuz remains resolute. Strategist Ed Yardeni reminds us that the Iranian regime “seems to have firm command and control of the economy." With that, investors shouldn't so quickly assume that a long-lasting peace is readily upon us, even as the ceasefire talks commence. And, the base case of a higher VIX ( VIX ) might just be reality that we have to deal with, as the world shifts its focus to an even more dangerous Middle East theater. While the volatility in the region has been generally high, Iran's newfound role as the de facto gatekeeper and toll collector of the Strait of Hormuz has arguably flipped...
Rhun ap Iorwerth launches party’s manifesto and says he is unconcerned by Reform UK threat in Welsh elections UK politics live – latest updates Plaid Cymru’s leader has promised “no more bending to Westminster’s will” as the nationalist party stands on the brink of taking office for the first time in next month’s Senedd elections. Speaking at Plaid Cymru’s manifesto launch in Wrexham on Thursday –...
Rhun ap Iorwerth launches party’s manifesto and says he is unconcerned by Reform UK threat in Welsh elections UK politics live – latest updates Plaid Cymru’s leader has promised “no more bending to Westminster’s will” as the nationalist party stands on the brink of taking office for the first time in next month’s Senedd elections. Speaking at Plaid Cymru’s manifesto launch in Wrexham on Thursday – chosen because of its football team, which has showcased Wales’s potential to the world – Rhun ap Iorwerth told a packed room of supporters there would be “no more toeing the London party line, no more defending the status quo and no more saying no to Wales”. Continue reading...
Elon Musk’s SpaceX is racing toward a record‑setting June IPO at a proposed $1.75 trillion valuation, fueled by Starlink’s booming subscriber base, huge government contracts, and an aggressive Starship and orbital‑data‑center expansion plan.
Elon Musk’s SpaceX is racing toward a record‑setting June IPO at a proposed $1.75 trillion valuation, fueled by Starlink’s booming subscriber base, huge government contracts, and an aggressive Starship and orbital‑data‑center expansion plan.
Iran To Allow No More Than 15 Vessels Per Day Through Hormuz: Russian Media Despite the positive development of a shaky US-Iran ceasefire holding, the reality is that Tehran still maintains de facto control over the vital Strait of Hormuz waterway. A mere few vessels passed without incident on Wednesday, before Iran's military closed the strait again, citing Israel's massive attacks on Lebanon. Th...
Iran To Allow No More Than 15 Vessels Per Day Through Hormuz: Russian Media Despite the positive development of a shaky US-Iran ceasefire holding, the reality is that Tehran still maintains de facto control over the vital Strait of Hormuz waterway. A mere few vessels passed without incident on Wednesday, before Iran's military closed the strait again, citing Israel's massive attacks on Lebanon. The Associated Press has emphasized Thursday, " Iran's approval system f or ships granted safe passage - after vetting by the Islamic Revolutionary Guards Corps - remains unchanged despite US President Donald Trump’s demand for the strait to be reopened." "Last week was the busiest week since the start of the war with 72 passages, still 90% below normal volumes, Lloyd’s said," the AP report continues. " Most of the vessels allowed through are connected to Iran , although some Indian vessels have gotten through with diplomatic intervention by the Indian government." There are currently few indicators revealing Iran's intent for what comes next, and it could be that much gets determined on whether Israel will cease its attacks on Lebanon. Tehran has threatened to renew its ballistic missile attacks of Israel's anti-Hezbollah actions and massive airstrikes on Beirut persist. Russia, which is an ally of Iran, has in its media published sources saying that Iran will allow no more than 15 vessels per day through Hormuz . via abc.net While this has not been confirmed officially by the Islamic Republic or IRGC, the following comes via TASS on Thursday : Under the ceasefire agreement, Iran will allow no more than 15 vessels per day to pass through the Strait of Hormuz, a senior Iranian source told TASS ahead of talks in Islamabad. "Under the current ceasefire, fewer than 15 ships per day are permitted to transit the Strait of Hormuz . This movement is strictly contingent upon Iran's approval and the enforcement of a specific protocol. This new regulatory framework, operating under the...