Ultragenyx Pharmaceutical (RARE) rebounded on December 14, 2015, after falling for four consecutive days. The stock rose 3.8% and was the top performer among the mid-cap stocks that day.
Incyte (INCY) was the top performer among large-cap stocks with a return of 2.8% on December 14. It rose on the announcement that INCY will present at the J.P. Morgan 34th Annual Healthcare Conference.
The iShares Nasdaq Biotechnology ETF (IBB) rose 0.3% on December 14, closing at $320.84. It traded 5% lower than the 100-day moving average of $337.86 and 3.1% lower than the 20-day moving average of $331.10.
Rio Tinto (RIO) has a high-quality suite of tier-1 assets with low-cost, high-quality products. This positions it well for the challenging times ahead.
In the face of deteriorating commodity prices, investors are understandably concerned about miners’ ability to sustain dividends. Dividends are high on Rio’s ‘radar screen.’
Rio Tinto’s CEO Sam Walsh said, “I expect we need a bit more pain. A minor interest adjustment could actually be a tipping point for some people.”
Benchmark iron ore prices have fallen to $39 per ton, which is a record low according to the daily price compilation dating back to 2009.
Rio Tinto’s (RIO) CEO Sam Walsh seems optimistic about China’s growth. He says China’s urbanization, government efforts, and infrastructure investment should continue to push it in the right direction.
The operating environment for Rio Tinto (RIO) and other miners is one of the worst in history. Commodity prices (COMT) are touching multiyear lows in 2015, and the outlook for 2016 isn’t very bright.
The breakup of CSC and CSRA into two separate companies, effective November 30, was likely the reason for the ~55% fall in CSC’s share price on November 30.
The December effect is a yearly phenomenon highlighted by end-of-year tax loss selling, usually in December, although the phenomenon has tended to begin earlier each year.
Investment-grade bond funds have seen year-to-date (or YTD) net inflows of $11.8 billion up to December 9, 2015. Issuance fell to $32.2 billion last week.
Visa Inc (V) issued A1/A+ rated high-grade bonds worth $16.0 billion via six parts. This included $1.75 billion in 1.20% two-year notes at a spread of 30 bps.
Investment-grade corporate touched a high of 3.6% on December 3. Following that, the investment-grade bond yields fell and ended at 3.5% on December 11.
investment-grade corporate bond issuance fell marginally by 3.7% from the previous week while the number of issuers went down to 11 from 26.
Investment-grade bond yields fell in the week ended December 11 after a drop in oil prices. The oil price rout also dragged the equity markets down.
Sprint (S) has an annual cost-cutting initiative of at least $2 billion for fiscal 2016. These cuts are expected to come from operating expenses.
Wall Street analysts’ median target price for Sprint stock was $7 as of December 11, 2015. The range was from $6 to $9. The closing price for Sprint stock on December 11 was $3.65.
In the US telecom space, Sprint’s operation among the top four US mobile players was the smallest in terms of EV as of December 14, 2015. The largest player was AT&T.
T-Mobile’s network performance rank in the overall 2H15 network performance metric for Kansas City improved by two notches from 1H15.