You thought the President would forget about the China trade wars? Well, you thought wrong.
When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!
— Donald J. Trump (@realDonaldTrump) April 9, 2018
Good thing you have war in Syria to distract from the onerous circumstance of trade war rhetoric.
The Eurostoxx 50 are higher by 0.15%, WTI +0.34%, and Gold is flat. Do we still care about BTC? I didn’t think so.
SPY futs are +13 and spirits are generally good ahead of trade — but shit is fading out and I wouldn’t be surprised if we reversed and Mcplunged lower.
Here’s some other news crossing the tape.
In reaction to strong earnings/guidance:
- HLT +2%
- AVXS +82% (to be acquired by Novartis (NVS) for $218/share in cash, or approximately $8.7 bln)
Select AVXS peers/related names showing strength:
- RGNX +24.4%, TRPX +16.3%, BOLD +12.1%, PTLA +6.8%, BLUE +5.7%, .
- VSTM +17.2% (announces that the FDA accepted for filing with Priority Review its New Drug Application for its lead product candidate duvelisib)
- PCRX +7.5% (confirms FDA approval of sNDA for EXPAREL)
- LUK +4.4% (announces series of corporate developments)
- DB +3.2% (Christian Sewing appointed as new Chief Executive Officer of Deutsche Bank)
- IONS +3.2% (has licensed IONIS-AZ6-2.5-LRx to AstraZeneca (AZN) following advancement of the drug into development)
- BPT +3% (increases Q1 dividend payment to $1.2748362/unit from $1.2301519/unit)
- SLM +2.9% (ValueAct Capital (Bradley E. Singer) discloses 6.4% active stake; have had and anticipate having further discussions)
- MRK +2.7% (monotherapy met primary endpoint in phase 3 keynote-042 study)
- CDE +2.7% (announced Q1 production of 3.2 million ounces of silver and 85,383 ounces of gold)
- BA +1.9% (Boeing American Airlines (AAL) sign major order for 47 787 Dreamliners)
- KMI +0.9% (announced that it is suspending all non-essential activities and related spending on the Trans Mountain Expansion Project)
- GM +2.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- CMA +2.2% (upgraded to Outperform from Neutral at Wedbush)
- BIDU +1.6% (upgraded to Buy from Outperform at Daiwa)
- A +1.3% (upgraded to Buy from Neutral at Goldman)
- MMP +1.3% (upgraded to Outperform at RBC Capital Mkts)
- ARGX +1.1% (initiated with a Buy at SunTrust)
In reaction to disappointing earnings/guidance:
- MNLO -58.8% (reports Phase 2 Trial of Serlopitant did not meet primary end-point)
- TLGT -7.7% (files for $50 mln mixed securities shelf offering)
- NLNK -3.6% (downgraded to Neutral at Cantor Fitzgerald)
- BEN -0.7% (downgraded to Neutral from Buy at BofA/Merrill)
- WLK -0.6% (downgraded to Neutral from Overweight at JP Morgan)