Author: Multibagger News

Wolfe Research has reaffirmed its Peerperform rating for Alnylam Pharmaceuticals (NASDAQ: ALNY) with a focus on the upcoming regulatory approval of its drug acoramidis, expected in November 2024. The firm predicts a stabilization in the stock’s performance until discussions intensify in the first quarter of 2025 regarding the market adoption of acoramidis. Following news from the European Society of Cardiology on August 30, Alnylam’s stock declined by 8%, contrasting with mixed reactions in the sector. Ionis Pharmaceuticals (NASDAQ: NASDAQ:) fell by 4%, while BridgeBio Pharma (NASDAQ:) saw a 13% increase. The analyst suggests that Alnylam’s market activity will likely remain…

Google Faces Second Antitrust Trial: What Investors Need to Know Google is set to face its second antitrust trial next week in a Virginia district court, raising eyebrows but not alarms among investors. Unlike the ongoing search trial, Barclays analysts suggest that this new trial should not be a significant concern for Google’s financial health, aside from potential headline risks. The Financial Impact: Minimal at Best The crux of the matter involves Google’s advertising technology stack, which constitutes less than 5% of the company’s gross profit. Specifically, the area under scrutiny represents a mere 1% of Google’s gross profit. This…

Riad Salameh, Former Lebanon Central Bank Governor, Arrested on Financial Crimes Charges In a stunning turn of events, Lebanon’s former central bank governor, Riad Salameh, was arrested on Tuesday following a judicial hearing in Beirut. Salameh has been charged with a range of financial crimes, including money-laundering, embezzlement, and illicit enrichment. Despite denying any wrongdoing, he now finds himself in the midst of a legal battle that could have far-reaching implications. The charges against Salameh stem from his alleged involvement with Optimum Invest, a Lebanese firm that offers income brokerage services. It is believed that Optimum had dealings with Lebanon’s…

Deadly Russian Missile Strike Kills 41 in Ukraine’s Poltava – President Zelenskiy Orders Investigation By Olena Harmash KYIV (Multibagger) – At least 41 people were killed and more than 180 wounded on Tuesday when Russia struck a military institute in the central town of Poltava with two missiles, President Volodymyr Zelenskiy said, the war’s deadliest single attack so far this year. Zelenskiy said in a video that Russian forces struck with two ballistic missiles, damaging a building of the Military Institute of Communications. He ordered a full and prompt investigation. “The Russian scum will definitely be held accountable for this…

PruVen Capital, Founded by Former Benchmark and Citi Ventures VC Ramneek Gupta, Closes $378.5M Fund II for Financial and Enterprise Startups PruVen Capital, a prominent fintech and insurance tech venture fund led by the illustrious former Benchmark and Citi Ventures VC Ramneek Gupta, has successfully closed a new $378.5 million Fund II. This fund will be utilized to invest in financial services and enterprise-focused startups, aiming to revolutionize the industry. What sets this second fund apart is Gupta’s expansion of partnerships beyond a single corporate funder to include various financial and insurance LPs. While Prudential Financial remains the lead investor,…

Atai Life Sciences (NASDAQ:ATAI) Receives Buy Rating and $15 Price Target from H.C. Wainwright Post Corporate Update Atai Life Sciences N.V. (NASDAQ:ATAI) received a reaffirmed Buy rating and $15.00 price target from H.C. Wainwright following a corporate update. The update highlighted the advancement of atai’s pipeline, with several significant milestones expected in the coming years. Key highlights include: – BPL-003, an intranasal psychedelic treatment for depression, expected to complete enrollment for Phase 2b trial in the second half of 2024. – VLS-01, a DMT-based treatment, set to progress to Phase 2 trials by the end of 2024 after positive Phase…

Investing.com – The U.S. dollar remained stable on Tuesday as investors eagerly anticipate the release of crucial economic data, specifically Friday’s U.S. payrolls report. This data could solidify expectations for an interest rate cut from the Federal Reserve later this month. At 04:05 ET (09:05 GMT), the Dollar Index, which monitors the dollar against a basket of other currencies, traded around 101.617, staying close to Monday’s two-week high of 101.79. In August, the index saw a 2.2% decline due to anticipations of U.S. rate cuts. Dollar Focuses on Labor Market The U.S. will be releasing key economic indicators this week,…

Bank of America Predicts Gold Prices Could Hit $3,000 Next Year Bank of America strategists are maintaining a bullish stance on gold, projecting that the price could reach $3,000 per ounce by 2025. With gold prices already up 21% year to date, the precious metal appears to be on track to meet this target. Analysts believe that gold can hit $3,000/oz over the next 12-18 months, although current flows do not justify that price level. The team at BofA thinks that reaching the $3,000/oz target would require an increase in non-commercial demand, which in turn would necessitate US interest rate…

Intel’s Strategic Shifts: A Potential Boon for TSMC – JPMorgan Analysis In a remarkable turn of events, Intel (NASDAQ: INTC) is reportedly exploring a plethora of strategic options to rejuvenate its business. This includes potential measures such as closing down some of its factories, selling off assets, and even the possibility of splitting or spinning off its Foundry and product/design teams. JPMorgan’s Insight on Taiwan Semi (TSMC) On Tuesday, JPMorgan analysts delved into the potential repercussions this could have on Taiwan Semiconductor Manufacturing Company (TSMC). Their comprehensive analysis suggests that Intel’s strategic maneuvers may, in fact, work in TSMC’s favor.…

Brazil’s economy exceeded expectations in the second quarter, showing resilience despite devastating floods in a southern state. The GDP expanded by 1.4%, driven by robust performances in the services and industry sectors. Brazil, economy, GDP, growth, services sector, industry sector, floods, southern state BRASILIA (Multibagger) – Brazil’s economy surprised to the upside in the second quarter as the strength of its services and industry sectors offset the impacts of deadly floods in a southern state, bolstering expectations for a solid full-year performance. The country’s gross domestic product (GDP) expanded 1.4% in the three months through June 30 on a sequential…