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Trade Idea of the Day Presented by: The Fly

Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Gilead Sciences (GILD) and Galapagos NV (GLPG) announced that they have entered into a 10-year global research and development collaboration. Galapagos will receive a $3.95B upfront payment and a $1.1B equity... Read More

Capricor price target raised to $12.40 from $3.50 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis raised his price target for Capricor Therapeutics to $12.40 from $3.50 saying the company announced positive results from the pre-specified interim analysis of the Hope-2 trial in patients with Duchenne muscular dystrophy. The stock in midday trading is is up 155%, or $4.98, to $8.20. Six-month data showed that CAP-1002 administration in steroid treated boys and young men resulted in statistically significant changes across several independent clinical measures including skeletal, and respiratory muscle functions, Pantginis tells investors in a research note. The analyst views the data "promising" for both primary and secondary endpoints. He...

Fly Intel: Pre-market Movers

HIGHER: Carrizo Oil & Gas (CRZO), up 10% after agreeing to be acquired by Callon Petroleum (CPE) in an all-stock transaction valued at $3.2B... Capricor Therapeutics (CAPR), up 92% after announcing that a pre-specified interim analysis performed on 6-month data from the HOPE-2 trial showed statistically significant results across several independent clinical measures... Galapagos (GLPG), up 19% after announcing that they have entered into a 10-year global research and development collaboration with Gilead (GILD). Galapagos will receive a $3.95B upfront payment and a $1.1B equity investment from Gilead... U-R Energy (URG) and Energy Fuels (UUUU), up 13% and 12%, respectively...

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Altria Group (MO) upgraded to Buy from Neutral at Goldman Sachs with analyst Judy Hong saying the valuations in the tobacco sector are trading at a 10-year trough in spite of the "more accommodating" macro backdrop for Consumer Staples that includes a late cycle and lower yields. 2. Focus Financial (FOCS) upgraded to Outperform from Market Perform at Keefe Bruyette. 3. Deutsche Bank (DB) upgraded to Neutral from Sell at UBS. 4. Morgan Stanley (MS) upgraded to Buy from Neutral at Citi. 5. Snap (SNAP) upgraded to Buy from Neutral at Goldman Sachs with analyst Heath Terry saying the company's new Android app, the launch of...

Hotels: Occupancy Rate Increased Year-over-year

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 30 June through 6 July 2019, according to data from STR. In comparison with the week of 1-7 July 2018, the industry recorded the following: • Occupancy: +2.6% to 65.3% • Average daily rate (ADR): +2.6% to US$127.31 • Revenue per available room (RevPAR): +5.2% to US$83.18 The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average. The red line is for 2019, dash light blue is 2018 (record year), blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels)...

BLS: CPI increased 0.1% in June, Core CPI increased 0.3%

From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in June on a seasonally adjusted basis, the same increase as in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.6 percent before seasonal adjustment. The index for all items less food and energy rose 0.3 in June, its largest monthly increase since January 2018. The all items index increased 1.6 percent for the 12 months ending June, a smaller increase than the 1.8-percent rise for the period ending May. The index for all items less food and energy rose 2.1 percent over the last 12 months, and the food index increased 1.9 percent. The energy index...

USTR confirms investigation into French plan to tax U.S. tech giants

On July 10, 2019, the United States Trade Representative confirmed that it has initiated an investigation under Section 301 of the Trade Act of 1974 of the Digital Services Tax (DST) of the Government of France. The French DST bill would impose a 3% tax on total annual revenues generated by some companies from providing certain digital services to, or aimed at, French users. The tax applies only to companies with total annual revenues from the covered services of at least EUR750M globally and EUR25M in France. The services covered are ones where U.S. firms are global leaders. The structure of the proposed new tax as well as statements by officials suggest that...

Merrill: "The Fed cut is on for July"

A few excerpts from a Merrill Lynch research note: The Fed cut is on for July Fed Chair Powell delivered a dovish testimony, hinting strongly at an upcoming cut. We now expect a 25bp cut at the July 31st meeting followed by two more cuts at the next two meetings. We are sticking with our forecast of a cumulative 75bp of easing … The Fed seems to be willing to dismiss the better data from the US and instead is focusing on the weaker global data. Indeed, when Powell was asked if the strong jobs report changed his views on cuts, he stated "no". Rather Powell emphasized that "it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook. Inflation ...

Fed Chair Powell: "Semiannual Monetary Policy Report to the Congress"

From Fed Chair Powell: Semiannual Monetary Policy Report to the CongressOur baseline outlook is for economic growth to remain solid, labor markets to stay strong, and inflation to move back up over time to the Committee's 2 percent objective. However, uncertainties about the outlook have increased in recent months. In particular, economic momentum appears to have slowed in some major foreign economies, and that weakness could affect the U.S. economy. Moreover, a number of government policy issues have yet to be resolved, including trade developments, the federal debt ceiling, and Brexit. And there is a risk...

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