Korean stocks are pulling back from record highs as Broadcom Inc.’s outlook for AI-chip sales fell short of elevated expectations, pausing a blistering advance in semiconductor shares. Bloomberg's Anthony Stephens breaks down the situation. (Source: Bloomberg)
Korean stocks are pulling back from record highs as Broadcom Inc.’s outlook for AI-chip sales fell short of elevated expectations, pausing a blistering advance in semiconductor shares. Bloomberg's Anthony Stephens breaks down the situation. (Source: Bloomberg)
Weather models project a potentially strong El Niño this year, which could spell disaster for heatwave-hit India, drench China and hurt agriculture across south-east Asia The UN has warned that the world must prepare for the imminent return of El Niño and the raised global temperatures and weather extremes it brings. The powerful natural weather pattern has an 80% chance of forming before Septembe...
Weather models project a potentially strong El Niño this year, which could spell disaster for heatwave-hit India, drench China and hurt agriculture across south-east Asia The UN has warned that the world must prepare for the imminent return of El Niño and the raised global temperatures and weather extremes it brings. The powerful natural weather pattern has an 80% chance of forming before September and a 90% chance before November, the World Meteorological Organization (WMO) said on Tuesday. Continue reading...
HSBC Holdings Plc and AIA Group Ltd. shares fell after a media report said some banks have suspended opening Hong Kong bank accounts for clients in mainland China that could be used for overseas investments. Bloomberg's Stephen Engle has the context. (Source: Bloomberg)
HSBC Holdings Plc and AIA Group Ltd. shares fell after a media report said some banks have suspended opening Hong Kong bank accounts for clients in mainland China that could be used for overseas investments. Bloomberg's Stephen Engle has the context. (Source: Bloomberg)
Iron ore headed for a fourth straight weekly loss as prices retreat on a seasonally weakening market. Singapore futures of the steelmaking ingredient hit a low of $100.85 on Friday, their weakest level since March 6, before paring losses to $101.85 a ton as of 10:13 a.m. local time, down 3.3% for the week. Prices have come under pressure as a seasonal lull in Chinese steel demand coincides with ri...
Iron ore headed for a fourth straight weekly loss as prices retreat on a seasonally weakening market. Singapore futures of the steelmaking ingredient hit a low of $100.85 on Friday, their weakest level since March 6, before paring losses to $101.85 a ton as of 10:13 a.m. local time, down 3.3% for the week. Prices have come under pressure as a seasonal lull in Chinese steel demand coincides with rising global iron ore shipments. Meanwhile, steel mill margins weakened for a second week, according to Mysteel data, as higher coking coal prices squeeze profitability. As the market enters its off-season, how softer domestic demand balances with exports will determine support for prices, according to a note from Yongan Futures Co. Yuan-priced futures on the Dalian exchange and Shanghai steel futures also declined.
ThomasShanahan/iStock via Getty Images Many things have transpired since my last analysis of Replimune ( REPL ) just before Halloween of last year. My analysis then came after the stock surged nearly 100% on the news that the FDA accepted RP1's second BLA. But I cautioned that FDA acceptance only confirms application completeness. It didn't have much impact on the actual approval prospects. I thou...
ThomasShanahan/iStock via Getty Images Many things have transpired since my last analysis of Replimune ( REPL ) just before Halloween of last year. My analysis then came after the stock surged nearly 100% on the news that the FDA accepted RP1's second BLA. But I cautioned that FDA acceptance only confirms application completeness. It didn't have much impact on the actual approval prospects. I thought that that news improved the probability of a near-term regulatory outcome, but did not change the evidentiary standard. My base case was another CRL and awaiting confirmatory data ( IGNYTE-3 ) in advanced melanoma. It just so happened that in April, the FDA issued another CRL on the RP1 BLA. Although the application was reviewed by another team, they rejected it based on tumor assessment methodologies. The stock tumbled below cash value ($1.50) following CRL #2. In a surprising reversal, the company announced just days ago that after talking with FDA leadership, both parties aligned on a regulatory path forward for RP1, and Replimune plans to resubmit the BLA. The FDA has supposedly agreed to treat the review as an “ urgent matter ” upon receipt. In the article that follows, I'm not going to make any predictions when it comes to BLA #3 outcomes. Rather, I'm going to show you what Replimune's price today implies about approval odds, and I'm going to explain why I don't find the risk-reward compelling ahead of another decision. Recent Developments We've all seen what Replimune's stock can do following good and bad news surrounding RP1 in advanced melanoma. Data by YCharts Therefore, it's pretty safe to say that much of Replimune's valuation depends on RP1 in advanced melanoma. But have you ever asked yourself, "What is actually happening at the fundamental level when, for instance, the FDA issues a CRL? Why is it that the stock price goes down to a specific value per share?" Following the April CRL , the market essentially modeled a worst-case scenario. It stripped near-t...
Guinean President Mamadi Doumbouya has strengthened his hold on power after his party won most of the seats in the May 31 parliamentary elections. Doumbouya’s Generation for Modernity and Development won 93 of the 147 seats in the National Assembly, the General Directorate of Elections said early Friday after tallying provisional results. Five other political parties, which signed an alliance pact...
Guinean President Mamadi Doumbouya has strengthened his hold on power after his party won most of the seats in the May 31 parliamentary elections. Doumbouya’s Generation for Modernity and Development won 93 of the 147 seats in the National Assembly, the General Directorate of Elections said early Friday after tallying provisional results. Five other political parties, which signed an alliance pact with the ruling party before the vote secured a total of 34 seats while the rest went to minor parties, it said. The results must be validated by the country’s Supreme Court, the electoral agency said. The victory enables the army general who won the December presidential elections, the first since a 2021 coup he led to overthrow the democratically elected government of Alpha Conde, to push ahead with his Simandou 2040 socio-economic development program for Guinea. The economic vision targets to invest $200 billion by the end of the period to expand agriculture and domestic processing, and to build energy, road and rail infrastructure needed to support the diversification of the mining-dependent economy. Guinea is the world’s top bauxite exporter, a reddish ore that’s processed to get alumina, which in turn is refined to produce aluminum. The country’s Simandou project, the world’s largest iron ore reserve development, began shipments in November, led by companies including Rio Tinto Plc , Aluminum Corp. of China and Winning Consortium Simandou . The vote completes the return of democracy by providing the West African nation with a legitimate parliament, which is due to replace the National Transitional Council set up after the coup to legislate. The assembly constitutes the lower house of a bicameral parliament and those elected will serve for a five-year term, renewable once.