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💲 Noteworthy Stocks & Assets:
Uber (NYSE: UBER) bids for Grubhub (NYSE:GRUB) to create a food-delivery giant.
Aurora (NYSE:ACB) shares rise nearly 70% on volume more than 30 times greater than average after pot company reports stronger-than-expected revenue growth.
Swiss crypto finance startup Bitcoin Suisse raises nearly €20 million.
Post-coronavirus, Morgan Stanley, Goldman Sachs could look very different.
MyoKardia, Inc. (Nasdaq: MYOK) shares surged to close up 99% to $121.69 on news its Phase 3 pivotal EXPLORER-HCM clinical trial. 📈
Cassava Sciences, Inc. (NASDAQ:SAVA) shares slumped by 74% to $2.12 on news from Phase 2b trial of PTI-125, in patients with Alzheimer’s disease. 📉
GENFIT (Nasdaq: GNFT) shares also down 74% to $5.10 following news its Phase 3 RESOLVE-IT trial of elafibranor in adults with nonalcoholic steatohepatitis (NASH) did not meet the primary endpoint. 📉
Weekly Market Movement Wrap
Dow -2.7% to 23,685. S&P 500 -2.3% to 2,864. Nasdaq -1.2% to 9,015. Russell 2000 -5.7% to 1,254. CBOE Volatility Index +14.% to 31.89.
S&P 500 Sectors
Consumer Staples -2.3%. Utilities -1.3%. Financials -5.%. Telecom -2.4%. Healthcare +0.2%. Industrials -5.6%. Information Technology -1.9%. Materials -4.%. Energy -7.4%. Consumer Discretionary -2.1%.
London -2.3% to 5,800. France -6.% to 4,278. Germany -4.% to 10,465. Japan -0.7% to 20,037. China -0.9% to 2,868. Hong Kong -1.8% to 23,797. India -1.7% to 31,098.
Commodities and Bonds
Crude Oil WTI +19.9% to $29.71/bbl. Gold +2.4% to $1,754.6/oz. Natural Gas -9.8% to 1.644. Ten-Year Treasury Yield +0.2% to 139.29.
Forex and Cryptos
EUR/USD -0.22%. USD/JPY +0.47%. GBP/USD -2.42%. Bitcoin -4.4%. Litecoin -10.6%. Ethereum -8.1%. Ripple -9.4%.
Top Stock Gainers
Sorrento Therapeutics (NASDAQ:SRNE) +160%. Novavax (NASDAQ:NVAX) +133%. CymaBay Therapeutics (NASDAQ:CBAY) +128%. SIFCO Industries (NYSEMKT:SIF) +74%. Glory Star New Media Group Holdings (NASDAQ:GSMG) +67%.
Top Stock Losers
Cassava Sciences (NASDAQ:SAVA) -76%. Genfit SA (NASDAQ:GNFT) -73%. Recro Pharma (NASDAQ:REPH) -48%. Axcella Health (NASDAQ:AXLA) -46%. FTS International (NYSE:FTSI) -45%.
🎯 Stocks On Our Radar:
🏆 Quotes That Inspire Us:
What the wise do in the beginning fools do in the end. – Warren Buffett
📖 Word Of The Week:
Pecuniary adj. - Relating to or consisting of money: “he admitted obtaining a pecuniary advantage by deception.”
❔ Did You Know:
say “sorry” so much that a law was passed so that an apology can’t be used as an admission of guilt. Canadians are well-known for being incredibly polite, perhaps even to a fault. That’s why in 2009, the province of Ontario passed the “Apology Act
,” which states that saying “sorry"—which can be an expression of sympathy or regret—can’t legally be considered an admission of guilt or fault.
📽 A Must Watch & Listen:
📚 Books We Are Reading:
Bargaining with the Devil - Robert Mnookin
Good for You, Great for Me - Lawrence Susskind
Crucial Conversations - Al Switzler, Joseph Grenny, and Ron McMillan
- Getting More: How You Can Negotiate to Succeed in Work and Life
- - Stuart Diamond
Never Split the Difference - Chris Voss and Tahl Raz
🤣 One Liners:
Evening news is where they begin with ‘Good evening’, and then proceed to tell you why it isn’t.
📆 Upcoming Events:
Tue, May 19, 2020 5:00 PM - 6:00 PM CEST
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