World News – US – ConocoPhillips buys Concho Resources for $ 9.7 billion in first shale deal of 2020

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(Reuters) – ConocoPhillips said on Monday it will buy Permian-focused driller Concho Resources Inc for $ 9.7 billion, the largest shale deal this year as the oil and gas producers look to consolidation to survive slowing oil prices and demand

All-in-stock deal comes as US Shale companies have suffered heavy losses due to weak crude prices amid COVID-19 pandemic and have struggled to raise new capital to restructure the debt

The offer for $ 49.30 per share, represents a 4% 1Prime at Concho’s closing Friday, according to Reuters calculations

Together, the companies plan to achieve annual cost and capital savings of $ 500 million by 2022

What is more critical to the health of the stock market than the outcome of the presidential election? COVID-19 vaccine, says Goldman Sachs As the third quarter earnings season kicks off this week, the firm believes the virus’s effect on fundamentals should be the focus of attention, as opposed to the race for White House « Vaccine is more important factor than election outcome for stock trajectory The consequences of the semi-frozen economy on an uneven road to recovery will be felt in the third quarter results, » Goldman said Sachs’ US comments on equity strategist David Kostin Even though the election is a source of uncertainty, Goldman Sachs research analysts have found a difference of only 4% in BPA if President Trump is re-elected or Democrats win Based on the business analysis, an increase in tax expenditures that is partly funded by increased tax revenues « would stimulate economic growth and help to com think about the headwinds due to high tax rates“Taking this into consideration, our attention turned to two stocks that Goldman Sachs says have outsized growth prospects, with company analysts predicting at least 90% upside potential for each. Using the TipRanks database, we discovered that both tickers also sport a « Strong Buy » consensus rating from the rest of the street. Athira Pharma (ATHA) By applying cutting edge approaches to neurodegenerative diseases, Athira Pharma wants to improve the lives of patients around the world Given the potential of its trump card in Alzheimer’s disease (AD), Goldman Sachs beats the table ATHA a debuts on the public market on September 18, with the first trade at 174% above the IPO price Levant to $ 204 million, the company sold 12 million shares instead of the original 10 million expected Writing for Goldman Sachs, analyst Graig Suvannavejh points to its lead candidate, ATH-1017, which is a small molecule activator of HGF / MET currently being evaluated in a Phase 2/3 trial as a treatment for mild to moderate AD, as a key part of his bullish thesis The analyst does not dispute that AD is a difficult indication to deal with, but tells clients that he has high hopes for ATHA “We are fully aware of the history of development. AD drugs and its well-documented history of high failure rates As such, advertising-driven companies like ATHA should be considered high risk However, as there is still a significant shortage of effective drugs. for AD, we believe that alternative approaches to treat AD are justified, ”he explained. In the past, the most common therapeutic approaches for AD have been those based on the belief that the accumulation of pathogenic proteins in the brain leads to AD However, AD therapies based on amyloid targeting have all failed in clinical trials to demonstrate their effectiveness, with monoclonal antibody (mAb) approaches that target tau, another protein that aggregates in the brain. of patients with AD, also failing Thus, ATHA’s differentiated approach makes it an unusual product, according to Suvannavejh.Examine the mechanism of action (MOA) of therapy, it is based on HGF / MET agonism, a strategy that has never been studied in AD In addition, Suvannavejh argues that the recent FDA decision to review Biogen’s aducanumab for approval even though it was prematurely discontinued in two large Phase 3 studies due to futility is a « Sign of a positive regulatory environment » In addition to this, the company is applying new thinking to AD clinical trials It will use a non-traditional technique (EEG) to measure improvements in the brains of subjects with AD, and a new clinical trial endpoint (Global Statistical Test / GST) that will assess efficacy It relies on both the ERP biomarker and more traditional efficacy measures (eg, ADAS-Cog) Thinking about this, Suvannavejh said: « With this way With entirely innovative thinking in mind, we believe it is essential to recognize that the FDA has already approved ATHA’s new clinical trial plan – which also significantly reduces overall time and costs typically associated with it. with AD drug development Additionally, given our view that the FDA may feel a sense of urgency to put new AD therapies in the hands of patients, their caregivers, and physicians, we believe the time has come for a candidate like ATH-1017“Regarding the revenue potential for ATH-1017, according to Suvannavejh, neurodegenerative diseases represent one of the largest areas of unmet medical need, with more than 5 million people over the age of 65 estimated to be in The US have AD This number is expected to almost triple by 2050, according to research by the Alzheimer’s Association To this end, the analyst projects risk-unadjusted peak sales in 2035 of $ 10 8 billion All that ATHA convinced Suvannavejh to initiate cover with a buy note In addition to the call, he set a price target of $ 53, suggesting upside potential of 189% (To view Suvannavejh’s record, click here) Judging by the break in consensus opinions are anything but mixed With 4 buys and no holds or sells awarded in the past three months, word on the street is that ATHA is a strong buy At $ 42.50, average price target implies upside potential of 132% (See Athira Pharma market analysis on TipRanks) Denali Therapeutics (DNLI) Dedicated to defeating neurodegenerative diseases through rigorous therapeutic development Denali Therapeutics Gets Significant Wall Street Attention Ahead of Key Data Reading, Goldman Sachs Has High Hopes As Company Prepares To Release First Proof of Concept Biomarker Data for DNL310 in Hunter Syndrome by YE20, Salveen Richter from the company likes what she sees DNL310 is a recombinant form of the enzyme iduronate 2-sulfatase (IDS) designed to cross the blood brain barrier that (BBB) ​​using Denali’s Enzyme Transport Vehicle (ETV) technology, which allows trafficking of large molecules into the brain DNLI is set to release initial data from Cohort A and the management expects starting dose of 3 mg / kg to reduce CSF GAGs by 50% at eight weeks Second cohort B will assess DNL310 in a wider range of patients, with dose increasing levels based on Cohort A results Richter points out that a 50% reduction in CSF GAGs was associated with a decrease in lysosome lipid chain and light neurofilament (NfL) accumulations associated with neuronal degeneration and injury. This is the first human trial of DNL310, we believe that the preclinical data strongly support the expected therapeutic benefit and the potential for reducing GAGs in CSF to lead to downstream changes in accumulation ation of lysosomal lipids and NfL (ie preventing neuronal dysfunction and injury) to improve cognition and function, ”commented Richter It should be noted that the preclinical and early clinical data from JR-141 from JCR Pharmaceuticals, a BBB penetrating fusion protein that also harnesses receptor-mediated transcytosis to deliver iduronate-2-sulfatase (I2S) to the brain, reducing risk approach, according to Richter To this end, the five-star analyst believes that positive data on DNL310 biomarkers could serve as proof of concept for DNLI’s transport vehicle (TV) technology The modularity of the platform could allow the transport of various large molecules across the BBB, for a range of other neurodegenerative indications such as Parkinson’s disease (PD) and frontotemporal dementia (FTD) In ​​addition, DNLI could derive part of this antibody, protein or enzyme distribution platform not currently part of its own portfolio, with growing interest in Biogen assets, according to Richter In keeping with her bullish approach, Richter stayed with the bulls, reiterating a buy note She also raised the price target from $ 41 to $ 60 Investors could pocket a 36% gain if that target is met within next twelve months (To view Richter’s history, click here) Looking at the Consensus Breakdown, 6 Buys and 2 Holds were issued in the past three months As a result, DNLI achieves a Strong Buy Consensus Rating Based on $ 51 17 average price target, stocks could jump 16% next year (See Denali Therapeutics stock market analysis on TipRanks) Disclaimer: The opinions expressed in this article are solely those of the featured analysts Content is intended for be used for informational purposes only It is very important to do your own analysis before making any investment

The current day trading boom will end like these frenzies always do: in tears While waiting for the inevitable crash, let’s take a look not only at why day traders are doomed, but also why most people shouldn’t trade, or even invest in individual stocks Day trading essentially means buying and selling investments quickly, hoping to profit from small price fluctuations

My wife and I co-signed his nephew’s student loans so he could attend a small private university You loaned your nephew money as a co-signer on his loan in the hope that he would finish his studies , find a job and pay it back In other words, you co-signed the loan so that your nephew makes the investment in his own future

The stock market rally is at a turning point; here’s what investors should do House Speaker Nancy Pelosi has set a deadline for the pre-election stimulus deal

The 33rd anniversary of the ‘Black Monday’ stock market crash is upon us, and if hedge fund managers fear the repeat of history, you wouldn’t know if because of the massive overhaul of their positions over the past week

Stock Futures Rise As Progress Is Made To Achieve A US Tax Package Ahead Of The Presidential Election; Tesla, Netflix and AT&T; are the highlights of the earnings this week; American Airlines to fly Boeing 737 MAXs before the end of the year

The earnings season is expected to resume this week, giving investors a better picture of the state of corporate profitability amid the ongoing coronavirus pandemic

Although Americans generally assume that they will retire when they want, and on their own terms, many will be surprised

Best cybersecurity stocks are well positioned in cloud-delivered services Amid Covid-19, more and more companies are asking their employees to work from home, creating new IT security challenges

At some point in the next century, the stock market will lose over 20% of its value in a single day This might not sound like a helpful tip, but the point is, you are laughing at yourself -even if you think market crashes of this magnitude will never happen again This sobering thought coincides with the 33rd anniversary of the U 1987S stock market crash

(Bloomberg) – ESG investing is the most important development in money management since the inception of the exchange-traded fund two decades ago and it will reshape finance just as passive funds have. This is the conclusion of a new report from PwC which predicts that up to 57% of mutual fund assets in Europe will be held in funds that take into account environmental, social and governance factors by 2025, i.e. 76 trillion euros ($ 8 9 trillion), up from 151% at the end of last year In addition, 77% of institutional investors polled by PwC said they plan to stop buying non-ESG products in next two yearsWith racial and economic injustice, as well as climate change, becoming key societal issues in recent years, financial companies have been forced to pay more attention to their own contributions to making the world fairer and greener. has mainly manifested itself in an explosion of ESG funds with fund managers of all stripes, from pension funds to private equity firms and hedge funds, by engaging sustainability teams, deploying new products and touting their green credentials“ESG is nothing less than a global change in the investment landscape; put financial and non-financial performance criteria on an equal footing, « PwC said in the report released on Monday ESG funds are proliferating in Europe because regulators and policymakers have made environmental issues a top political priority and are creating a regulation to ensure that financial firms integrate sustainability into their operations and eliminate so-called greenwashing At the same time, increasing public awareness of ESG risks – which has been accelerated by Covid-19 – and the emergence of a generation of investors who prioritize non-financial impacts alongside financial factors have fueled growth, according to PwC The performance of ESG funds relative to their traditional peers in recent months has also caught the attention of investors, a PwC Fund managers from BlackRock Inc to Allianz Global Investors and Invesco said the portfolios ESG outperformed on sale of Covid-19 “These catalysts are expected to usher in the biggest change the European asset and wealth management industry has ever seen; offering managers the opportunity to drive change by playing a key role in climate risk mitigation, ”said PWCPwC predicts that ESG equity funds will experience a compound annual growth rate of 268%, with assets quadrupling to more than 36 trillion euros by 2025 Bond funds will grow at a rate of 304% and assets will exceed 16 trillion euros in five years The report of the consulting firm, published by its Luxembourg unit, also included a survey from 200 asset managers, 300 institutional investors and over 800 retail investors The study found that 37% of institutional investors are willing to pay a premium for ESG products, the majority of them willing to pay between 21 basis points and an additional 40 basis points He also revealed that while 77% of institutional investors plan to stop investing in traditional non-ESG-compliant products within the next two years, only 14% of asset managers have indicated they plan to stop investing. to launch these products during the same periodPwC said Europe dominates the global ESG landscape, with the region’s 4,741 ESG mutual funds holding nearly 70% of global ESG assets, and while PWC said it expects the impact of Europe’s green fervor spreads beyond its borders as new demands are placed on non-EU businesses and investors, US asset managers face possible limits on green investment more articles like this, please visit us at BloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP

Hexavest de Montréal cut its investment in AT&T stock by more than half and reduced its positions in Newmont and Barrick Gold by about a third in the third quarter It also initiated a position in Wells Fargo stock

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Intel (INTC) stock struggled in the third quarter as disillusioned investors crossed exits at a rapid pace

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly difficult So what are the best stocks to buy now or put on a watch list?

New wave of SPAC mergers will bring six more EV companies to market None of them have real revenues

Things are constantly changing on Wall Street Stock prices fluctuate, new players are entering the market, the macroeconomic environment is shaken, and long-term trends are changing That said, one thing remains the same: growth is the name of the game Growth stocks consistently score a place on investor wish lists, given their potential to generate returns This growth potential goes beyond the norm as these games have already recorded spectacular gains in 2020, the increase is expected to continue to occur in the long term Knowing what you are looking for is one thing, but how are investors supposed to find these opportunities? One strategy is to take inspiration from the pros on Wall Street Bearing this in mind, we used the TipRanks database in our search for exciting growth names, according to the analyst community Snapping on three stocks that fit the bill, every analyst backed ticker is set to post more gains on top of its impressive year-to-date climbs Here are all the details Sunnova Energy International (NOVA) First of all we have Sunnova Energy International which is one of the leading providers of residential solar and energy storage services Even though it has already jumped 160% since the start of the year, several analysts believe the name has more leeway After speaking with NOVA founder and CEO John Berger, five-star analyst Joseph Osha, of JMP Securities, is even more confident in its long-term growth prospects, noting that “the stock seems clearly undervalued” Emphasizing the storage business in particular, the analyst considers that this is a major strong point “NOVA has been effective in increasing storage connection rates and has been successful in making its dealer-driven business model work well The storage demand environment has strengthened over the past 60 days, and we believe we may be at an inflection point for the industry, ”Osha commented. attachment, the figure landed at 34% in Q2 Part of this strong result is attributable to the company’s penetration into island markets, with Berger mentioning that attachment rates in Hawaii, Guam, Saipan and Puerto Rico are effectively 100% Plus, Texas and Florida Rates Improve. Explaining this, Osha said, “Aggregating all of this gives a 34% figure that M Berger believes it will grow, but with very different dynamics in different markets.We also note that NOVA sells storage to existing customers and these sales are not reflected in the indicated connection rate.Reflecting more positives, Osha says NOVA’s relationship with Tesla and Generac sets her apart, also choosing the ideal dealer partners Additionally, the overall storage market looks strong and cell manufacturers are struggling to keep up with the demand To this end, Berger argues that the space is « as strong as you think it is, with attachment rates continuing to rise. in new geographic areas and growing revenue per customer as well »While some investors have raised concerns about Sunrun’s competition (RUN), Osha believes that while RUN’s approach works relatively well, » small developers stand to lose « in the end. As a result, the analyst sees room for broader valuation for NOVA In keeping with his bullish approach, Osha stayed with the bulls, reiterating a market outperformance rating and a price target of $ 43 Investors could pocket a 48% gain if this target is met within the next twelve months (To see Osha’s balance sheet, click here) Do other analysts agree? They are Only buy ratings, 10 to be exact, have been issued in the past three months Therefore, the message is clear: NOVA is a strong buy Considering the $ 33 average price target of 70, the stocks could increase 16% next year (See Sunnova Energy International stock analysis on TipRanks) Big Lots (BIG) As a liquidation retailer, Big Lots offers its customers everything from groceries and Affordable household items to furniture and electronics With a solid reputation by 2021, some street members believe her 87% gain year-to-date is just the beginning Rep Piper Sandler, five-star analyst Peter Keith tells customers that going forward, “the setup remains very favorable.” The company’s forecast for Q3 comps was higher than his estimate, but the call for EPS from 0 USD50 to 0 $ 70 (against 0 $ of Ke ith12 forecast) was a major surprise “Not only has the third quarter been a historically negative EPS quarter, but BIG is also guiding huge earnings per share upward despite ~ $ 12 million in additional rent charges (from the sales of its CDs) and ~ $ 10 million in COVID spending, ”Keith noted. To that end, the analyst increased his estimate of the makeup of Q4 Keith explained,“ The fourth quarter is shaping up to be pretty strong, the return to discretionary closings could not be better timed, our investigative work continues to show high demand for home furnishings and any positive impact from the new Chief Merchant (who joined in late July) has yet to impact the trend in sales “In terms of closing activity, new Marketing Director Jack Pestello has helped bolster BIG’s close-out efforts, with Keith already noting attractive offers for s in-store checks In addition, the reduction in promotions should bode well for retailer BIG halved the number of promotional days in Q3 2020, compared to Q3 2019 As a result, although BIG is heading towards one-year flattened gross margins. on the other there is room for the upside, in Keith’s opinion On top of that his inventory position might be on the mend According to management, most categories had inventory constraints in the third quarter, but suppliers are catching up with demand, especially in key segments such as furniture, home office and small appliances To add to the good news, a $ 500 million share buyback authorization has been announced, which Keith says should « add juice to BPA over the next few quarters. »“Everything BIG brought in convinced Keith to maintain his overweight rating. In addition to the appeal, he left the price target at $ 75, suggesting a 40% upside potential (To watch Keith’s record, click here) As for the rest of the street, opinions are evenly divided With 3 buys and 3 takes awarded in the past three months, word on the street is that BIG is a moderate buy At $ 6033, the average price target implies upside potential of 12% (See Big Lots market analysis on TipRanks) Amicus Therapeutics (FOLD) Finally, we have Amicus Therapeutics, which develops therapies for ultra-orphan diseases, including lysosomal storage disorders (LSD) Up 77% since the start of the year, even greater growth could be underway for this name of health, according to several professionals in the street Even though it benefits from a new generation enzyme replacement therapy in phase 3, one of its gene therapy assets has received special attention. During the CNSA conference, FOLD presented additional follow-up data from its CLN6 Battens phase 1/2 gene therapy program.The program is evaluating AT-GTX-501, its gene therapy designed for use in CLN6 Batten disease. , which is a fatal disease where children experience a rapid and progressive decline in their cognitive and motor functions It has a worldwide population of approximately 1000 patients The presentation included additional interim safety and efficacy data Based on the safety data from 13 patients treated with the candidate, the treatment was well tolerated It should be noted that five patients reported eleven grade 3 SAEs, four of which were considered potentially treatment-related.These included vomiting, fever and upper abdominal pain, which are symptoms commonly seen with administration of AAV gene therapy Weighing for Cowen, five-star analyst Ritu Baral argues that immunogenicity to AAV9 or CLN6 has not been observed is an important takeaway.With regard to efficacy data, the results of twelve patients who reached the 12 month time limit and eight patients who reached the 24 month time limit were analyzed for an age-appropriate natural history On the Hamburg Motor and Language aggregate score (HM&L), which assesses walking and speaking, the mean rate of decline in treated patients was much lower compared to natural history over the same period Digging a little deeper, at 12 months, the average rate of decline in treated subjects was 04 points, compared to 12 points in natural history subjects.At 24 months, the average rate of decline was 06 points in treated subjects, up from 24 points in natural history participants.Additionally, management said that 63% of patients with natural history saw an additional 2 point drop in HM&L score two years after their first decline, while only 13% of patients receiving AT-GTX-501 gene therapy experienced the same What does it all mean? « We believe this update is progressively positive and demonstrates the durability of AT-GTX-501’s efficacy for up to two years Intermediate efficacy results show a nominally statistically significant and most likely clinically significant slowdown in 24-month disease progression in CLN6 Battens The natural history dataset was collected as part of a relatively recent chart review by the same researcher as the FOLD study, and therefore we believe it is probably reliable ”, commented Baral If this were not enough, natural history control analysis might be sufficient for US registration. We believe that given the rarity and severity of CLN6, a prospective PBO controlled trial is not feasible. believe that the natural history data for the disease is rapidly solidifying into a body of evidence that will be significant to the FDA and EMA, ”explained Baral In view of all of the above, Baral has high hopes In addition to ‘an outperformance rating, it maintains a target price of $ 31 on the stock This target puts the upside potential at 81% (To see Baral’s history, click here) Other analysts seem to echo the sentiment of Baral 3 buys and no hold or sell add to strong buy consensus rating Based on the average price target of $ 2367, upside potential is 38% (See Amicus Therapeutics stock market analysis on TipRanks) Disclaimer: Opinions expressed in this article are those of featured analysts only The content is intended to be used for informational purposes only It is very important to do your own analysis before making any investment

While the rich and corporations may have to dig deeper into their pockets to pay Uncle Sam, tax-exempt municipal bonds could become a big winner

Tesla kicks off trading week into high gear after Wedbush analyst Daniel Ives raises price target ahead of electric carmaker’s third quarter results

Mortgage rates fall to new all-time low, supporting real estate sector As a result, dire labor market conditions have yet to hit homebuyers’ demand

ConocoPhillips, Concho Resources, Stock, NYSE: CXO, NYSE: COP

World News – US – ConocoPhillips to Buy Concho Resources for $ 9.7 billion in First Deal 2020 shale

Source: https://finance.yahoo.com/news/conocophillips-buy-concho-re


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