Novavax got a bad news today as its vaccine for respiratory disease failed badly in late stage trial. The news wiped out 83 percent of its shares and a huge chunk of its $2.2 billion market cap. To see what the crowd is discuss regarding this news, you’re already in the right place, right here on Sentifi.
2/ Novavax Inc: Tries to cope with the financial loss
Top themes and market attention on:
“We are both surprised and disappointed by the outcome of the Resolve trial,” Novavax Reseach Chief Gregogy Glenn said. The company’s drug met neither the main nor the secondary efficacy goals of a Phase III trial.
3/ Bayer: 67 percent of farmers do not approve of Bayer-Monsanto merger
2,632 people took part in a Farm Journal Media poll to voice their opinion about the Bayer-Monsanto merger. 67 percent are against the merger, and only 10 percent voted in favor of it. Bayer said in a statement that it will keep delivering the benefits to the farmers, and they won’t be affected negatively.
4/ Morrisons: Shares rise 7.5 percent thanks to quarterly sales growth
With sales at stores open for more than a year rising 2 percent in the latest quarter, the U.K.’s fourth largest grocer was able to secure the third consecutive quarter of sales growth. That said, it remains cautious about the Brexit effect on the economy, and warned of some uncertainties.
5/ Reynolds American Inc: Appoints John Boehner as a board member
Former Speaker of the House of Representatives John Boehner has officially join the board of the second largest tobacco company in the U.S. The company is currently struggling to compete with innovative tobacco products in the likes of e-cigarettes and vaping.
6/ Reliance Communications: Shares rise 3.62 percent on merger plan
The Indian Internet access and telecommunications company plans to merge its mobile business with Indian network operator Aircel to cut debt. Reliance and Aircel’s parent company will each own half of the merged carrier.
7/ Aerie Pharma: Announces a secondary shares offering after big stock jump
After its shares increased 45 percent thanks to the good performance of its eye treatment in clinical studies, the company announced it will have a secondary offering of $50 million in shares. The purpose is to help finance commercialization of its other eye treatment.
8/ Hinduja Foundries: Approves merger with Ashok Leyland
India’s largest casting maker Hinduja has greenlighted the merger with commercial vehicle maker Ashok. Market experts believe the merger will be a loss to Ashok, which is evident in its shares dropping 3.43 percent following the news. Hinduja is making a loss with its business, with its performance going downhill in the last five years.
9/ SNB: Keeps rates unchanged
The bank decided to keep its deposit rate at minus 0.75 percent and its three-month Libor band target unchanged at minus 0.25 percent to minus 1.25 percent. The intent of the bank is to make “Swiss franc investments less attractive, thereby easing upward pressure on the currency.”
10/ BRICS Econ: Increasing consumer awareness fuels growth of oral care market
Organized retailing, rising per capita income, increasing consumer spending on personal care products and consumer preferences for value-added products contribute to the growth of the oral care market. The market is expected to grow 20 percent by 2020.
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