Author: FX
Panuwat Dangsungnoen/iStock via Getty Images Seeking Contributors urged investors to buy AbbVie (NYSE:ABBV), Vertex Pharma (NASDAQ:VRTX), Genmab (GMAB) and a range of other biotechs in 2022 long before those stocks outperformed − sometimes even as the consensus view on Wall Street suggested otherwise. Here’s a rundown of Seeking Alpha editors’ picks for some of our contributors’ best biotech articles of 2022: A ‘Strong Buy’ Call on Genmab While analysts were issuing bearish calls on Danish biotech Genmab (GMAB), Seeking Alpha contributor Biologics had different thoughts. Biologics gave Genmab (GMAB) a “Strong Buy rating” shortly before the year began, noting in…
RonFullHD/iStock via Getty Images While 2022 saw the broader stock market experience its worst performance since the Great Recession, energy provided one of the few bright spots on Wall Street. Higher commodity prices lifted the profits of oil and gas drillers, making the energy segment one of the best performers among industry categories. Surging Out of the Pandemic The gains for the energy industry marked a significant reversal from 2020, when oil prices plunged into negative territory as pandemic lockdowns triggered a brief recession. Shares of Exxon Mobil (NYSE:XOM), the biggest U.S. energy company by market value, dropped as much…
2/2 © Reuters. A police member stands guard while the border opens as Croatia enters the EU’s control-free Schengen area, in Bregana, Croatia, January 1, 2023. REUTERS/Borut Zivulovic 2/2 BREGANA BORDER CROSSING, Croatia (Reuters) – Croatia rang in two historic changes with the new year, as the European Union’s youngest member joined both the EU’s border-free Schengen zone and the euro common currency, fulfilling longstanding ambitions of close integration with Europe. At the Bregana border crossing with neighbouring Slovenia, police took down signs at midnight and a barrier was lifted up for the last time, before a placard reading “free…
Torsten Asmus/iStock via Getty Images Bonds were not the traditional safe haven that investors could count on in 2022. Instead of luring in cash amid an equity bear market as investors moved out of risk, bonds struggled with the unprecedented Federal Reserve tightening cycle. The Fed pushed borrowing costs to their highest level since 2007. Starting in March, the central bank’s Federal Open Market Committee began hiking the fed funds rate from a target of 0%-0.25% to 4.25%-4.5% by December. Tighter financial conditions (which include higher rates and lower stock prices) became the mission for Fed Chairman Jerome Powell and…
What really happened to stocks in 2022, including some surprises Source link
© Reuters. FILE PHOTO: German Finance Minister Christian Lindner speaks at the Brandenburg Gate, during a ceremony for the Jewish holiday of Hanukkah, in Berlin, Germany, December 18, 2022. REUTERS/Christian Mang BERLIN (Reuters) – Germany’s finance minister expects inflation in Europe’s biggest economy to drop to 7% this year and to continue falling in 2024 and beyond, but believes high energy prices will become the new normal. “The target remains 2%. This must be a top priority for the European Central Bank and the German government,” Christian Lindner said in an interview with Bild newspaper published on Sunday. Pushed by…
XPeng announces just under double increase in December delivery Source link
Li Auto announces record monthly delivery of 21,233 in December Source link
Nio sets record with 15,815 delivery in December Source link
4/4 © Reuters. Candles stand next to St. Peter’s Square after former Pope Benedict died in the Vatican, in Rome, Italy, December 31, 2022. REUTERS/Guglielmo Mangiapane 2/4 By Philip Pullella VATICAN CITY (Reuters) – Pope Francis marked the Roman Catholic Church’s traditional World Day of Peace on Sunday but the start of the new year at the Vatican was overshadowed by the death of his predecessor, Benedict. Francis presided at a Mass in St. Peter’s Basilica as the body of Benedict, who died on Saturday at the age of 95, was being prepared for three day of public viewing in…