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Friday, August 9, 2019

Walmart take steps on violent video games

Walmart (WMT -1.5%) says it has asked store employees across the U.S. to remove signs and playable demos of violent video games but has made no changes to its policy on selling firearms.
WMT has come under pressure in recent days following last weekend’s shooting at one of its stores in El Paso, Tex., that left 22 people dead.
Public pressure led WMT, which is the largest U.S. arms retailer, to end assault rifle sales in 2015 and raise the minimum age for gun purchases to 21 in 2018; some activists and customers now want the company to end sales of guns and ammunition altogether.

Weight Watchers boosted to Buy at BAML following upside guidance

Weight Watchers (NASDAQ:WW) earns a big upgrade to Buy from Underperform with a $27 price target at Bank of America Merrill Lynch, citing stabilizing subscriber numbers in Q2 and a user-driven 2020 program.
WW shares surged 42% on Wednesday after reporting better than expected Q2 earnings and a strong full-year outlook.
BAML analysts led by Olivia Tong still see risks in WW, including competition from other apps and programs, but “after much volatility and several misfires, we think WW is getting back on track, re-engaging their consumers and better communicating the significant changes made in 2018 that alienated some.”
WW’s average Sell Side Rating is Outperform, its Seeking Alpha Authors Rating is Neutral, and its Quant Rating is Very Bullish.

ViewRay guidance cut pressures shares, down 52% premarket

Thinly traded nano cap ViewRay (NASDAQ:VRAY) is down 52% premarket on increased volume following its Q2 report released after the close yesterday that included softer revenue guidance. Highlights:
Revenue: $30.2M (+84%); backlog: $219.3M (+10%).
Net loss: ($30.8M); loss/share: ($0.32).
2019 guidance: Revenue: $80M – 95M from $111M – 124M due to the “timing of installations around year-end.”

Progenics Q2 top-line up 156%

Progenics Pharmaceuticals (PGNXQ2 results: Revenues: $10M (+156.4%); Azedra sales: $0.3M; Royalty income: $3.6M (+2.9%); License and other revenue: $6.1M.
Net Loss: ($19.7M) (-29.6%); loss/share: ($0.23) (-15.0%); Quick Assets: $84.8M (-38.4%).
The Company completed enrollment ahead of schedule in Phase 3 CONDOR trial of PyLTM (18F-DCFPyL); topline data expected by end of 2019.

AstraZeneca’s Tagrisso improves survival in first-line lung cancer

Results from the Phase 3 FLAURA study evaluating AstraZeneca’s (NYSE:AZN) Tagrisso (osimertinib) in treatment-naive patients with locally advanced/metastatic EGFR mutation-positive non-small cell lung cancer (NSCLC) showed a statistically significant improvement in overall survival (OS) compared to Iressa (gefitinib) and Astellas Pharma (OTCPK:ALPMF) and Roche’s (OTCQX:RHHBY) Tarceva (erlotinib), both standard-of-care treatments.
Complete data will be presented at an upcoming medical conference.
Shares are up 2% premarket on average volume.

Organogenesis up 8% on Q2 results

Thinly traded Organogenesis (ORGO +7.7%) is up on light volume in early trade following its Q2 report released this morning. Highlights:
Revenue: $64.9M (+49%); Advanced Wound Care: $55.2M (+50%); Surgical & Sports Medicine: $9.7M (+46%).
PuraPly sales: $29.7M (+133%).
Net loss: ($9.6M); loss/share: ($0.11).
2019 guidance: Revenue: $250M – 262M from $249M – 262M; Advanced Wound Care: $219M – 224M; Surgical & Sports Medicine: $31M – 38M; PuraPly: $110M – 120M.

Gilead: China OKs Biktarvy for Treatment of HIV-1

Gilead Sciences, Inc. (NASDAQ: GILD) announced today that the China National Medical Products Administration (NMPA) has approved Biktarvy® (bictegravir 50mg/emtricitabine 200mg/tenofovir alafenamide 25mg, BIC/FTC/TAF), a once-daily single tablet regimen (STR) for the treatment of HIV-1 infection. Biktarvy combines the novel, unboosted integrase strand transfer inhibitor (INSTI) bictegravir with the demonstrated safety and efficacy profile of the Descovy® (emtricitabine 200mg/tenofovir alafenamide 25mg; FTC/TAF) dual nucleoside reverse transcriptase inhibitor (NRTI) backbone and is the smallest INSTI-based triple-therapy STR available. In China, Biktarvy is indicated for the treatment of HIV-1 infection in adults without present or past evidence of viral resistance to the integrase inhibitor class, emtricitabine or tenofovir.
“Biktarvy offers high rates of efficacy, high barriers to resistance and a demonstrated tolerability profile, underscoring its role as an important new treatment option for a broad range of patients in China,” said Professor Taisheng Li, Director of Infectious Disease Department, Peking Union Medical College Hospital.
In 2018, there were approximately 150,000 people newly diagnosed with HIV in China. The number of diagnoses has increased significantly in recent years, partially due to expanded screening. At the same time, the number of people living with HIV and receiving antiretroviral treatment has also increased steadily. The government of China has provided free antiretroviral treatment to all persons living with HIV since 2003.