January 3, 2024
January 3, 2024
Longboard Pharmaceuticals Faces Stock Decline
A Shaky Offering: Longboard Pharmaceuticals Inc. Falters with Public Offering Announcement
Longboard Pharmaceuticals Inc LBPH shares are trading lower by 11.3% to $22.26 Wednesday afternoon after the company announced that it commenced a $150 million underwritten public offering and expects to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of shares of voting common stock. Cantor and Citigroup are the lead book-running managers, while Wedbush PacGrow and H.C. Wainwright & Co. are the lead managers for this offering. The company says there can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms
January 3, 2024
Airline Stocks Set to Soar in 2024: A Look at Three High-Flyers
As we embark upon a new year, several airline stocks are catching the eye of investors, with a number of them occupying coveted spots on the Zacks Rank #1 (Strong Buy) list. The U.S. Department of Transportation revealed that the recent holiday travel season witnessed remarkable smoothness, with a mere 0.8% cancellation rate, a stark contrast to the 8.2% witnessed at the end of 2022. In fact, the cancellation rate for domestic flights in 2023 was below 1.2%, marking the lowest in a decade. SkyWest: Navigating the Skies with Promise Touting a Zacks Rank #1 (Strong Buy), SkyWest Airlines, a
January 3, 2024
Red Sea Ship Attacks Plague Ocean Freight Rates
Red Sea ship attacks send ocean freight rates soaring
Volodimyr Trofimov/iStock Editorial via Getty Images Ocean freight rates are surging following Houthi rebels’ assault on a Maersk ship over the weekend, prompting carriers to halt plans to resume voyages through the Red Sea en route to the Suez Canal, according to a Wednesday report by Reuters. The attacks have compelled ships to alter their course around the southern tip of Africa, leading to increased costs for vessels embarking on the extended journey, although rates still remain significantly lower than during the COVID-19 pandemic. The Red Sea trade route facilitates up to a third of global container ship cargo, and
January 3, 2024
AMA’s Game-Changing Reimbursement Codes for Psychedelic-Assisted Therapies
AMA’s Game-Changing Reimbursement Codes for Psychedelic-Assisted Therapies
The American Medical Association’s recent activation of the current procedural terminology (CPT) III codes marks a significant milestone for FDA-legalized psychedelic-assisted therapies, presenting an impactful stride for physicians and other qualified healthcare providers. These temporary codes, designed to boost reimbursement and foster accessibility to psychedelic therapies in the U.S., signify a landmark development in medical coverage. The data gathered through the use of the new CPT III codes could prove instrumental in their potential transition to permanent CPT I codes, further fortifying their value for widespread coverage and reimbursement in healthcare. The unveiling of these codes in July 2023, was
January 3, 2024
Major Deal: TotalEnergies Finalizes €3.4B Transaction with Alimentation Couche-Tard
TotalEnergies Finalizes €3.4B Transaction with Alimentation Couche-Tard
HJBC/iStock Editorial via Getty Images TotalEnergies (NYSE:TTE) has successfully concluded the sale of specific European retail assets to Alimentation Couche-Tard (OTCPK:ANCTF) for an impressive €3.4B, equivalent to approximately $3.8B. The deal included around $2.4B disbursed in December 2023. Back in March, the two corporate behemoths publicly disclosed an agreement that saw Couche-Tard (OTCPK:ANCTF) acquire TotalEnergies’ (TTE) retail assets in Germany and the Netherlands, totaling 1,198 service stations in Germany and 392 in the Netherlands. They have also set in motion the establishment of a joint venture in Belgium and Luxembourg, which will possess and manage 619 service stations. In this
January 3, 2024
Opportunity Awaits: Agriculture Stocks to Buy for the New Year
Opportunity Awaits: Agriculture Stocks to Buy for the New Year
Ripe for the Picking: A Bountiful Year for Agriculture Stocks After such an incredible year for the stock market in 2023, investors will certainly be looking for buy-the-dip candidates as a market pullback is to be expected at some point. In this regard, a few agriculture stocks are attractive as they look poised to move higher even as a potential correction for the broader market looms. With that being said, let’s check out the opportunity in two pleasantly intriguing Zacks Agriculture-Operations Industry stocks. Dole: Fresh Growth Potential Boasting a Zacks Rank #1 (Strong Buy) Dole’s stock is starting to look
January 3, 2024
What’s Happening with Trinity Place Holdings Stock?
What’s Happening with Trinity Place Holdings Stock?
Trinity Place Holdings Inc. TPHS shares are significantly surging on Wednesday after the company reported that its mortgage lender has extended the mortgage loan forbearance period to Jan. 31. The Extension Details: In an 8k filed on Tuesday, Trinity Place Holdings announced that its mortgage lender, Macquarie PF Inc., has agreed to extend the mortgage loan forbearance period to Jan. 31. Compliance Concerns: Trinity Place Holdings received notice from the NYSE American on Nov. 29, informing the company that it is not in compliance with the NYSE American continued listing standards. This non-compliance is due to the reported stockholders’ deficit
January 3, 2024
Xerox Implementing Workforce Reduction in New Operating Model
Xerox Holdings Corporation XRX witnessed a significant decline in its stock price following the announcement of a 15% workforce reduction as part of the company’s new operating model. Business Restructuring What To Know: Xerox is embarking on a business restructuring by targeting a 15% reduction in its workforce as it implements a new operating model. The workforce reduction initiative is integral to the company’s strategic move to advance its Reinvention and organizational structure. In line with this, Xerox has outlined three key priorities and intended outcomes of the Reinvention, focusing on its Core Print Business, Global Business Services, and IT
January 3, 2024
CVS to ensure biosimilar coverage as it drops Humira from formularies
CVS to ensure biosimilar coverage as it drops Humira from formularies
JHVEPhoto CVS Health (NYSE:CVS) has announced that it will remove AbbVie’s (NYSE:ABBV) blockbuster drug Humira from its major national commercial formularies on April 1 and instead provide coverage for biosimilars of the product. The healthcare conglomerate stated that while Humira will no longer be included in its Choice and Standard Opt Out commercial formularies, it will still be covered in its rest. CVS further added that AbbVie has agreed to supply a “committed” volume of Humira co-branded with CVS’ new Cordavis biosimilar unit. It is noteworthy that CVS launched Cordavis last August for the explicit purpose of collaborating with drug
