Uber Victorious in Battle to Defend Its Prized Contractor Status for Drivers and Why Biogen’s Stock Is Up A Monster 42% On Wednesday. 🚕

Uber Victorious in Battle to Defend Its Prized Contractor Status for Drivers and Why Biogen’s Stock Is Up A Monster 42% On Wednesday.

Uber

On Tuesday, Uber Technologies Inc. shares closed up over 12% after the company fended off Californian labor protections and in turn, allows the company to keep compensating drivers as independent contractors.

The benefit comes from the fact that Uber will not be forced to provide any of the costly perks usually associated with regular full-time employment. Of course, this decision also helps fellow ride-hailing app, Lyft whose stock rose 11.28% in Wednesday trading.

Biogen

More than 5 million Americans have been diagnosed with Alzheimer’s. This has provided an opportunity for drug makers to not just profit but help millions of people live the best lives they possibly can.

The Food and Drug Administration or FDA blessed us with some good news with the announcement that they have enough data to support approval of Biogen’s experimental Alzheimer’s drug, Aducanumab. They said Biogen’s study is “capable of providing the primary contribution to a demonstration of substantial evidence of effectiveness of Aducanumab.”

The stock rocketed over 40% in the trading day following the news.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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