Today we are watching…
1. Biogen (#biogen)
Biogen was down 25% for the year as yesterday’s trading began, but by the closing bell, it had reversed all of those losses. Investors squealed in excitement as the pharmaceutical giant resurrected a keystone drug in development. Meant to treat Alzheimer’s, plans to take it to the market had previously been abandoned after some lousy study results. However, with a new study showing fantastic benefits of aducanumab on memory and cognition, commercial programs are back on. It would be a billion-dollar drug, but there’s still a strict application process ahead of the company. Over to you, Federal Drugs Authority!
2. Tesla (#tesla)
Ah, Tesla, it’s that time again! Elon Musk’s brainchild is reporting car deliveries to its investors today, and he’s set a 360,000 target for year-end. That means 104,800 cars still need delivering, and the stock will move on that number. The company is also cutting it close with over half a billion dollars’ worth of borrowed cash. With it due to be paid back soon, the fewer Model 3S sales, the better! It’s the least profitable electric car. Most market makers are still waiting for electric vehicles to become a lucrative long-term business before dipping in! Today, Tesla aims to show that it’s ready by beating a $0.41 loss per share expectation on $6.61 billion in revenue.