Articles for author: Ron Finklestien

January 24, 2024

Ron Finklestien

Theratechnologies Faces FDA Rejection of New Egrifta Version Theratechnologies Faces FDA Rejection of New Egrifta Version

Grandbrothers Canadian biotech Theratechnologies (NASDAQ:THTX) revealed Wednesday that the U.S. Food and Drug Administration (FDA) declined to approve a new formulation of Egrifta, a fat-reducing agent for HIV-infected patients. In a complete response letter regarding the company’s supplemental Biologics License Application (sBLA), the regulator has cited multiple issues, including manufacturing concerns related to the product, known as tesamorelin. Notably, the FDA has requested information regarding the product’s immunogenicity risk. With the sBLA, Theratechnologies (THTX) requested FDA approval for an F8 formulation of tesamorelin, which it currently markets as an F4 formulation to reduce abdominal fat in HIV-infected adults with a

January 24, 2024

Ron Finklestien

Top Growth Stocks for January 24th Top Growth Stocks for January 24th

As the financial markets surge and sway, three resplendent stocks have captured the attention of astute investors today, January 24. Indulge your senses in these tales of triumph and transformation: Powell Industries, Inc.: A Beacon of Growth Powell Industries, Inc. (POWL) is like a sturdy oak amidst a forest of saplings. This custom equipment manufacturer bears a remarkable Zacks Rank #1, and its Zacks Consensus Estimate for current year earnings has seen a spirited increase of 35.1% over the last 60 days. Powell Industries, Inc. Price and Consensus Powell Industries, Inc. price-consensus-chart | Powell Industries, Inc. Quote Powell Industries boasts

January 24, 2024

Ron Finklestien

Bullish Outlook for Honda Motor Company (HMC) Bullish Outlook for Honda Motor Company (HMC)

Market Performance and Industry Standings Honda Motor Co. (HMC) has established itself as a stalwart in the manufacturing sector, crafting not only automobiles but also motorcycles and a spectrum of high-performing engines. Their influence isn’t merely national, but global, captivating a wide audience with their diverse product offerings. Image Source: Zacks Investment Research The company’s stock currently boasts a Zacks Rank #1 (Strong Buy), a testament to the market’s faith in its potential. Analysts have raised their expectations across all timelines, cementing Honda’s positive trajectory in the eyes of investors and industry insiders alike. In addition to its improved earnings

January 24, 2024

Ron Finklestien

eBay to Reduce Full-Time Staff and Contracts, Stock Rises 3% eBay Stock on the Rise Amidst Layoffs and Restructuring

Andrii Yalanskyi/iStock via Getty Images This year continues to witness a relentless array of layoffs, with eBay (NASDAQ:EBAY) making the tough but decisive move to streamline operations in 2024 in pursuit of sustainable, long-term growth. CEO Jamie Iannone divulged in a memo that eBay (EBAY) is set to reduce its full-time workforce by an astounding 9%, equivalent to approximately 1,000 jobs, and will also curtail the number of contracts within its alternative workforce in the coming months. In response, the stock of eBay (EBAY) experienced a 3% surge in premarket trading on Wednesday. “While we are making progress against our

January 24, 2024

Ron Finklestien

Bleak Times for Cracker Barrel Old Country Store (CBRL) Bleak Times for Cracker Barrel Old Country Store (CBRL)

Cracker Barrel Old Country Store owns and operates full-service dining locations with a restaurant and a retail store in the same unit. Analysts have taken a bearish stance on the company’s outlook, pushing it down into an unfavorable Zacks Rank #5 (Strong Sell). The shares of CBRL have not fared well over the last year, down 23%, underperforming relative to the general market. Shares moved lower following several of the quarterly prints in 2023 but have appeared to stabilize following its latest release. While the recent price action is inspiring, the company’s pressured outlook certainly can’t be ignored. The adverse

January 24, 2024

Ron Finklestien

Texas Instruments Reports Quarterly Earnings Texas Instruments Reports Quarterly Earnings

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Wednesday. Shares of Texas Instruments Incorporated TXN declined in today’s pre-market trading after the company reported fourth-quarter financial results. Texas Instruments reported quarterly earnings of $1.49 per share, compared to analyst expectations of $1.47, a 30.05% decrease over earnings of $2.13 per share from the same period last year. The company reported quarterly sales of $4.08 billion, falling short of the analyst consensus of $4.12 billion. Texas Instruments sees first-quarter revenue between $3.45 billion and $3.75 billion, much lower versus the $4.06 billion estimate.

January 24, 2024

Ron Finklestien

Bullard Predicts Fed Rate Cuts As Soon As March Yields Take a Tumble as Bullard Foresees Fed Cutting Rates

yalcinsonat1 James Bullard, former St. Louis Federal Reserve President, made a bold prediction that interest rates could see a downward shift as early as March. He expressed his views in a recent interview with the Wall Street Journal, outlining that this move could happen even before inflation reaches the central bank’s intended target of 2%. “Inflation on a 12-month core basis (excluding food and energy prices), you could get to 2% by Q3 of this year,” he shared in the WSJ’s Take on the Week podcast. Highlighting statistics, Bullard pointed out the personal consumption expenditures price index, the Fed’s preferred

January 24, 2024

Ron Finklestien

Euro Area January Composite PMI Update

Jan. 24, 2024 4:02 AM ET Euro / US Dollar (EUR:USD), USD:EUR EWG, GF, EWI, EWQ, USD, EWGS, FGM, DBGR, HEWG, DAX, FLFR, FLGR, FLIY By: Arundhati Sarkar, SA News Editor Nikolay Pandev The HCOB Eurozone Composite PMI in January edged up to 47.9 from 47.6 in the prior month, missing the anticipated 48 in a preliminary estimate. The latest report indicates that business activity in the bloc declined for an eighth straight month, albeit at the slowest pace since last July. Manufacturing PMI increased to 46.60 points in January from 44.40 points in December, while services PMI decreased to

January 24, 2024

Ron Finklestien

SPY: The Unseen Menace in the Global Supply Chain SPY: The Unseen Menace in the Global Supply Chain

The revealing journey of a financial analyst I embarked on my venture as an analyst at Seeking Alpha in 2021, armed with a modest yet growing knowledge of finance, complemented by my experience in logistics and data analytics. As I delved into analyzing companies in the shipping sector and expanded my research horizons across diverse industries, my insights evolved. Now, let me share my thoughts on the overlooked global supply chain predicament that seems to evade the market’s attention, evident from the recent all-time high. The current state of global logistics may unfold into a surprising resurgence of inflation, one

January 24, 2024

Ron Finklestien

Asia-Pacific Stocks Snapshot: Hawkish BOJ and Key US Data Asia-Pacific Stocks Snapshot: Hawkish BOJ and Key US Data

Nikada Japan’s Nikkei 225 index experienced a decline of -0.80% as the nation’s manufacturing sector sustained an eighth consecutive month of shrinkage amidst weakened demand. December export data for Japan exhibited a growth of 9.8% year-on-year, surpassing the expected 9.1%. This provides a glimmer of positivity within the nation’s economic landscape despite the broader manufacturing challenges. The recent statements from Bank of Japan governor Kazuo Ueda have reignited discussions surrounding a potential adjustment in the country’s monetary policy, introducing an element of speculation in the market. Meanwhile, China’s Shanghai Composite Index showcased a notable upsurge of 1.80% following the announcement