• July jobs report, Disney earnings and more: What to know in the week ahead
    Yahoo Finance

    July jobs report, Disney earnings and more: What to know in the week ahead

    Earnings season continues this week with another packed calendar for quarterly results. Meanwhile, the July jobs report is set for release Friday.

  • Livongo Health (LVGO) to Post Q2 Earnings: What's in Store?
    Zacks

    Livongo Health (LVGO) to Post Q2 Earnings: What's in Store?

    Livongo Health (LVGO) second-quarter results are likely to reflect growth in core Livongo for Diabetes solution.

  • GlobeNewswire

    ChemoCentryx to Hold Second Quarter 2020 Financial Results Conference Call on Monday, August 10, 2020

    MOUNTAIN VIEW, Calif., Aug. 03, 2020 (GLOBE NEWSWIRE) -- ChemoCentryx, Inc., (Nasdaq: CCXI), today announced that the Company's second quarter 2020 financial results will be released after market close on Monday, August 10, 2020. ChemoCentryx executive management will host a conference call and webcast beginning at 5:00 p.m. Eastern Time on August 10, 2020 to discuss these results and to answer questions. To participate by telephone, please dial (877) 303-8028 (Domestic) or (760) 536-5167 (International). The conference ID number is 6246545. A live and archived audio webcast can be accessed through the Investors section of the Company's website at www.ChemoCentryx.com. The archived webcast will remain available on the Company's website for fourteen (14) days following the call.About ChemoCentryx ChemoCentryx is a biopharmaceutical company developing new medications targeted at inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally administered therapies. ChemoCentryx’s lead drug candidate, avacopan (CCX168), successfully completed a pivotal Phase III trial in ANCA-associated vasculitis.ChemoCentryx also has early stage drug candidates that target chemoattractant receptors in other inflammatory and autoimmune diseases and in cancer.Contacts:Susan M. Kanaya                                                           Executive Vice President,                                                            Chief Financial and Administrative Officer            investor@chemocentryx.com                                          Media: Stephanie Tomei 408.234.1279 media@chemocentryx.comInvestors: William Slattery, Jr., Burns McClellan 212.213.0006                 bslattery@burnsmc.com

  • 3 Top Small-Cap Stocks to Buy in August
    Motley Fool

    3 Top Small-Cap Stocks to Buy in August

    The three that top my list for the month of August are REPAY Holdings (NASDAQ: RPAY), Ontrak (NASDAQ: OTRK), and Limelight Networks (NASDAQ: LLNW). E-commerce and digital payment methods are rising thanks to a massive migration to the internet. According to REPAY, which focuses on these markets, B2B and loan repayment transactions use cards less than half the time.

  • GlobeNewswire

    DraftKings Launches Season-Long Fan Favorite Best Ball and $3M NFL Tournament

    Snake Draft Format Also Available for 2020 NBA and NHL SeasonsBOSTON, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Today DraftKings Inc. (Nasdaq: DKNG) announced it is expanding its daily fantasy sports (DFS) offerings to include the game variant Best Ball, with snake drafts. DraftKings also announced a $3M marquee tournament ahead of the 2020 NFL season, with a $1M top prize. As DraftKings’ first foray into a season-long product, Best Ball maintains fans’ connection to the DraftKings’ fantasy sports experience, while answering to a more nostalgic, season-long form.The streamlined draft format removes traditional DFS roster management, enabling customers to lock in player selections at the start of the season. As major U.S. sports leagues continue to return to the national stage, Best Ball furthers DraftKings’ reputation as being in-tune with the American sports fan, and offers customers a new opportunity to engage with friends and family in the absence of in-person events and gatherings. “As part of a continued commitment to putting our customers first, DraftKings Best Ball is an exciting new feature within our fantasy product that our customers have asked for,” said Paul Liberman, DraftKings Co-founder and President, Global Technology and Product. “Leveraging in-house technology, Best Ball provides our DFS customers with a season-long option, supplementing the wide array of game types available on DraftKings. We look forward to this season of sports as our customers experience and compete under this new offering.”Across sports and unique to the game, Best Ball involves a draft process known as a “snake draft” where pick order is reversed for each individual round. Recognized as the preferred way to draft among seasoned DFS players, an overwhelming 92% of respondents in a recent DraftKings consumer-led study reported high interest in engaging with the format.Currently available only for fantasy football, Best Ball will soon be available for DraftKings’ fantasy basketball and fantasy hockey as well, offering customers the opportunity to engage with daily snakes, sit-and-go’s, and larger, prized season tournaments. DraftKings’ sportsbook and daily fantasy products are available for download via iOS and Android here.About DraftKings DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB.Forward-Looking Statements Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Media Contactmedia@draftkings.com @DraftKingsNews

  • Wall Street is Northbound Defying All Concerns: 5 Top Picks
    Zacks

    Wall Street is Northbound Defying All Concerns: 5 Top Picks

    A new bull market that was developed last quarter exiting the coronavirus-induced short bear market, is raging forward in the third quarter too.

  • 3 Healthcare Stocks That Rocketed Higher in July
    Motley Fool

    3 Healthcare Stocks That Rocketed Higher in July

    Dismal economic data that pressured the entire market at the end of July rolled right off the backs of some high-flying healthcare stocks. Here's what sent their share prices screaming higher. This clinical-stage biotechnology company doesn't have any products to sell yet, but Altimmune's attempt to develop a single-dose intranasal coronavirus vaccine is getting lots of attention.

  • Here Are the Top 10 Most Popular Stocks on Robinhood
    Motley Fool

    Here Are the Top 10 Most Popular Stocks on Robinhood

    Stocks are America's favorite investment. More Americans believe investing in the stock market is a better option than investing in real estate over the next decade, according to a new study by Bankrate. The commission-free stock-trading platform allows new and experienced investors alike to quickly and cost-effectively invest in their favorite companies.

  • 3 Stocks Robinhood Investors Should Buy With $1,000
    Motley Fool

    3 Stocks Robinhood Investors Should Buy With $1,000

    This would be a really smart way for young and/or novice investors to put their cash to work in the stock market.

  • GlobeNewswire

    NIO Inc. to Report Second Quarter 2020 Financial Results on Tuesday, August 11, 2020

    SHANGHAI, China, Aug. 03, 2020 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today announced that it will report its second quarter 2020 unaudited financial results on Tuesday, August 11, 2020, before the open of the U.S. markets.The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 11, 2020 (8:00 PM Beijing/Hong Kong Time on August 11, 2020).Please register in advance of the conference using the link provided below and dial in 10 minutes prior to the call, using participant dial-in numbers, Direct Event passcode and unique registrant ID which would be provided upon registering.http://apac.directeventreg.com/registration/event/8596325Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.nio.com.A replay of the conference call will be accessible by phone approximately two hours after the conclusion of the live call at the following numbers, until August 19, 2020 09:59 AM ET:United States:+1-646-254-3697 International:+61-2-8199-0299 Hong Kong:+852-3051-2780 Conference ID:8596325 About NIO Inc.NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next generation technologies in connectivity, autonomous driving and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater smart premium electric coupe SUV, in December 2019 and plans to commence deliveries in 2020.For investor and media inquiries, please contact:NIO Inc. Investor Relations Tel: +86-21-6908-2018 Email: ir@nio.comSource: NIO

  • GlobeNewswire

    NIO Inc. Provides July 2020 Delivery Update

    * NIO delivered 3,533 vehicles in July 2020, increasing by 322.1% year-over-year * NIO delivered 17,702 vehicles in 2020 in total, increasing by 111.3% year-over-year * Cumulative deliveries of ES8 and ES6 reached 49,615SHANGHAI, China, Aug. 03, 2020 (GLOBE NEWSWIRE) -- NIO Inc. (“NIO” or the “Company”) (NYSE: NIO), a pioneer in China’s premium smart electric vehicle market, today provided its July 2020 delivery results.NIO delivered 3,533 vehicles in July 2020, representing a robust 322.1% growth year-over-year. The deliveries consisted of 2,610 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 923 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV. As of July 31, 2020, cumulative deliveries of the ES8 and the ES6 reached 49,615 vehicles, of which 17,702 were delivered in 2020.On July 24, 2020, NIO announced the pre-subsidy price of the EC6, starting from RMB 368,000, and began taking production orders for the 5-seater premium smart electric coupe SUV. Its NEDC range of up to 615 kilometers with the 100 kWh battery pack, excellent driving experience, sporty and stylish design present a highly competitive model for a younger and broader user base. The EC6 deliveries will commence in September 2020.“In July, we are pleased to have achieved the second-highest monthly delivery results despite the impact on productions due to a 5-day suspension of manufacturing to prepare for EC6 productions and other flood-related supply chain challenges,” said William Bin Li, founder, chairman, and chief executive officer of NIO. “More proudly, we have achieved a record-high monthly order growth, attributed to a stronger demand of the ES8 and ES6, together with the increasing EC6 orders, thanks to the continuous support of our users. We believe we will be able to increase our production capacity significantly to support higher deliveries in the third quarter of 2020.”Steven Feng, chief financial officer of NIO, added, “NIO now offers three competitive high-performance smart electric SUV models to meet the diversified needs of users in the premium sector of the auto industry in China. We are very confident that the ES8, ES6, and EC6 are complementary to each other and will aggressively gain larger market shares from both ICE and electric vehicle market.”About NIO Inc.NIO Inc. is a pioneer in China’s premium smart electric vehicle market. Founded in November 2014, NIO’s mission is to shape a joyful lifestyle by offering premium smart electric vehicles and being the best user enterprise. NIO designs, jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Redefining the user experience, NIO provides users with comprehensive, convenient, and innovative charging solutions and other user-centric services. NIO began deliveries of the ES8, a 7-seater flagship premium electric SUV in China in June 2018, and its variant, the 6-seater ES8, in March 2019. NIO officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began the first deliveries of the ES6 in June 2019. NIO officially launched the EC6, a 5-seater premium electric coupe SUV, in December 2019 and plans to commence deliveries in 2020.Safe Harbor StatementThis press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations from management in this announcement, as well as NIO’s strategic and operational plans, contain forward-looking statements. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about NIO’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIO’s strategies; NIO’s future business development, financial condition and results of operations; NIO’s ability to develop and manufacture a car of sufficient quality and appeal to customers on schedule and on a large scale; its ability to grow manufacturing in collaboration with partners; its ability to provide convenient charging solutions to its customers; its ability to satisfy the mandated safety standards relating to motor vehicles; its ability to secure supply of raw materials or other components used in its vehicles; its ability to secure sufficient reservations and sales of the ES8 and ES6; its ability to control costs associated with its operations; its ability to build the NIO brand; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in NIO’s filings with the SEC. All information provided in this press release is as of the date of this press release, and NIO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.For more information, please visit: http://ir.nio.comFor investor and media inquiries, please contact:NIO Inc.Investor RelationsTel: +86-21-6908-2018Email: ir@nio.comSource: NIO

  • GlobeNewswire

    Bilibili Announces Three-Year Strategic Partnership with Riot Games for Live Broadcasting League of Legend Events in China

    SHANGHAI, China, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI), a leading online entertainment platform for young generations in China, today announced its strategic partnership with Riot Games, the developer of leading MOBA League of Legends, among others, for granting Bilibili a three-year exclusive license for live broadcasting the League of Legend Esports (“LoL Esports”) global events (in Mandarin only), including the world-renowned League of Legend World Championship, Mid-Season Invitational, and All-Star Event in China beginning in 2020 through the 2023 Mid-Season Invitational. To mark the 10th anniversary of the League of Legend World Championship, Bilibili will join forces with Riot Games to host various online and offline esports events, bringing the world renowned, global tournament to even broader audiences."We are excited to reach a strategic partnership with Riot Games,” said Carly Lee, the Vice Chairwoman of the Board and COO of Bilibili. “Throughout the past decade, we have witnessed esports becoming mainstream and one of the most popular sports among China’s young generations. As an internet company headquartered in Shanghai, we also look forward to helping the city strengthen its leading position in the global esports industry.”“We continuously look to share our tournaments to a wider fan base across different platforms, and we have full confidence in Bilibili to elevate this superb tournament to the next level,” said John Needham, Global Head of Esports, Riot Games. “Our partnership with Bilibili opens us to new audiences by their immersive live-broadcasting experience. Moving into the next decade of LoL Esports, this strategic partnership further unlocks our potential to bring fresh content and chapters to the world’s top professional players.”About Bilibili Inc.Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games. Bilibili provides an immersive entertainment experience and high-quality content that caters to the evolving and diversified interests of its users and communities, and has built its platform based on the strong emotional connections of Bilibili’s users to its content and communities.For more information, please visit: http://ir.bilibili.com.About‌ ‌Riot‌ ‌Games‌Riot‌ ‌Games‌‌ ‌was‌ ‌founded‌ ‌in‌ ‌2006‌ ‌to‌ ‌develop,‌ ‌publish,‌ ‌and‌ ‌support‌ ‌the‌ ‌most‌ ‌player-focused‌ ‌games‌ ‌in‌ ‌the‌ ‌world.‌ ‌In‌ ‌2009,‌ ‌Riot‌ ‌released‌ ‌its‌ ‌debut‌ ‌title,‌ ‌‌League‌ ‌of‌ ‌Legends‌,‌ ‌to‌ ‌worldwide‌ ‌acclaim.‌ ‌‌League‌‌ ‌has‌ ‌gone‌ ‌on‌ ‌to‌ ‌be‌ ‌the‌ ‌most-played‌ ‌PC‌ ‌game‌ ‌in‌ ‌the‌ ‌world‌ ‌and‌ ‌a‌ ‌key‌ ‌driver‌ ‌of‌ ‌the‌ ‌explosive‌ ‌growth‌ ‌of‌ ‌esports.‌As‌ ‌‌League‌‌ ‌enters‌ ‌its‌ ‌second‌ ‌decade,‌ ‌Riot‌ ‌continues‌ ‌to‌ ‌evolve‌ ‌the‌ ‌game‌ ‌while‌ ‌delivering‌ ‌new‌ ‌experiences‌ ‌to‌ ‌players‌ ‌with‌ ‌‌VALORANT,‌ ‌Legends‌ ‌of‌ ‌Runeterra,‌ ‌Teamfight‌ ‌Tactics,‌‌ ‌‌League‌ ‌of‌ ‌Legends:‌ ‌Wild‌ ‌Rift,‌ ‌‌and‌ ‌multiple‌ ‌work-in-progress‌ ‌titles,‌ ‌while‌ ‌exploring‌ ‌the‌ ‌world‌ ‌of‌ ‌Runeterra‌ ‌through‌ ‌multimedia‌ ‌projects‌ ‌across‌ ‌music,‌ ‌comic‌ ‌books,‌ ‌TV,‌ ‌and‌ ‌more.‌ ‌Founded‌ ‌by‌ ‌Brandon‌ ‌Beck‌ ‌and‌ ‌Marc‌ ‌Merrill,‌ ‌Riot‌ ‌is‌ ‌headquartered‌ ‌in‌ ‌Los‌ ‌Angeles,‌ ‌California,‌ ‌and‌ ‌has‌ ‌2,500+‌ ‌Rioters‌ ‌in‌ ‌20+‌ ‌offices‌ ‌worldwide.‌ ‌Safe Harbor StatementThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, statements regarding the expected closing of the transaction in this announcement are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to, those included in Bilibili’s filings with the SEC and in Tencent’s filings with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and neither of Bilibili or Tencent undertakes any duty to update such information, except as required under applicable law.For investor and media inquiries, please contact:For Bilibili in China:Bilibili Inc. Juliet Yang Tel: +86-21-2509 9255 Ext. 8523 E-mail: ir@bilibili.comThe Piacente Group, Inc. Emilie Wu Tel: +86-21-6039-8363 E-mail: bilibili@tpg-ir.comFor Bilibili in the United States:The Piacente Group, Inc. Brandi Piacente Tel: +1-212-481-2050 E-mail: bilibili@tpg-ir.com

  • Goldman, BofA Left Off Ant IPO for Work With Alibaba Rivals
    Bloomberg

    Goldman, BofA Left Off Ant IPO for Work With Alibaba Rivals

    (Bloomberg) -- Goldman Sachs Group Inc. and Bank of America Corp. were left off Ant Group’s upcoming stock sale in Hong Kong because of their past work with rivals of its affiliate Alibaba, according to people familiar with the matter.Bankers have been told by senior executives at Alibaba Group Holding Ltd., which owns a third of Ant, that they should refrain from doing deals for its competitors if they want business from Jack Ma’s sprawling empire, the people said. Ant has kicked off plans to go public in Hong Kong and Shanghai in offerings that could top Saudi Aramco’s record $29 billion IPO.The directive shows that Wall Street banks are having to make early bets on which firms to stick with in China, especially as juggernauts like Alibaba and Tencent Holdings Ltd. extend their tentacles into hundreds of businesses in finance, transportation, retail and entertainment.“The duopoly issue is not unique to China, but the scale and scope of Alibaba and Tencent’s business operations create an excruciating dilemma for investment banks,” said Andy Mok, a senior research fellow at the Center for China and Globalization in Beijing. “Alibaba and Tencent’s businesses are so big, you can risk being blocked out of a significant future revenue stream.”While bankers everywhere have to be careful doing work for their clients’ rival firms, Chinese conglomerates are taking it to a new level. Even though banks have firewalls to ensure separate teams handle deals for the likes of Alibaba and Tencent, that’s proving to not be enough, the people familiar said.Chinese clients are much more likely than their counterparts in the U.S. or Europe to demand non-compete commitments as a show of loyalty, and to ensure that sensitive strategies don’t land in the hands of competitors. And with fewer deals to go around, bankers in the hyper-competitive Chinese market have little choice but to comply.Though minor distribution roles on Ant’s Hong Kong IPO are still up for grabs, those don’t offer the out-sized fees that banks can expect from leading the sale.“Competition has increased and Chinese issuers have gotten strong bargaining power,” said Bob Dodds, who worked as an investment banker at China International Capital Corp. before setting up DRP Capital Ltd. to advise on China-related deals.Goldman and Bank of America’s recent work with Alibaba rivals include $7.7 billion in stock sales for Tencent-backed Pinduoduo Inc. and JD.com Inc. in the last two years, helping these companies build their war chests to take on their larger competitor in the hotly contested e-commerce arena.The two banks have reaped at least $70 million from advising Pinduoduo and JD.com on stock deals, according to data compiled by Bloomberg. The figure doesn’t include the undisclosed fees of a $1 billion bond sale by Pinduoduo in September and the $4.5 billion secondary listing by JD.com in June.Representatives at Goldman and Bank of America declined to comment. Ant and Alibaba declined to comment in separate emailed statements.IPO BankersAnt is aggressively competing with Tencent’s WeChat Pay to maintain its dominance of China’s $29 trillion mobile payments space. It has been pitching digital payment services to the local arms of KFC Holding Co. and Marriott International Inc. as it transforms its Alipay app into an online mall for everything from loans and travel services to food delivery.Alipay’s share of mobile payments has increased for three consecutive quarters, rising to 55.1% in the fourth quarter, according to consultant iResearch. Tencent has 38.9% of the market.Ant hired Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley and CICC to lead its Hong Kong IPO. The sale is expected to raise more than $10 billion and could value the firm at $200 billion, people familiar have said. Ant hasn’t selected banks for the Shanghai portion, though global firms will probably be left out because lead underwriters for any IPO on the tech-focused Star board must buy shares in the deal.Banks leading the Ant IPO in Hong Kong have fewer conflicts. While Morgan Stanley earned $6.4 million for a junior role in Pinduoduo’s stock sale last year -- about half of Goldman’s haul -- Citigroup and JPMorgan weren’t involved in those deals, Bloomberg data shows.(Adds details on Alipay and WeChat Pay’s market share in 13th paragraph. An earlier version of the story was corrected to show Ant has kicked off its IPO process.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    Big Pharma Shouldn’t Be Too Greedy

    (Bloomberg Opinion) -- Intellectual property is a convenient fiction. It is a right enforced by state power and international agreements, one that’s even more fragile than other forms of property rights since it’s not tangible. We choose to believe this fiction because we also believe that intellectual property adds to general welfare. It permits innovation and growth, and supports writers, artists, inventors — and pharmaceutical companies.But crises upend beliefs and we are in a crisis at the moment. We should all hope the tradition of treating intellectual property as a real thing survives the pandemic. That hope must be especially keen among the companies most at risk if the myth breaks down: the pharma industry.Nothing is more likely to test this consensus than hints of profiteering off the war against Covid-19. A Financial Times report that the U.S.-based company Moderna Inc. has sought to price its vaccine candidate around $50-$60 per course, for example, has shaken public health establishments across the world. The story also suggested that while Moderna might offer developing countries a lower price, rich countries would get privileged access to the vaccine.Let me tell you the consequences if that happens and Moderna’s vaccine performs better than its cheaper competitors: The patent on the vaccine will be widely ignored. The consensus on intellectual property, painstakingly built up over time and spread worldwide over the past two decades, will be busted.I don’t want to single out Moderna here. It doesn’t have a single successful commercial drug, nor any other Phase 3 candidates; its need to make money off this vaccine is arguably acute. Larger drug companies are different. Yet Pfizer Inc.’s CEO recently said that calls for companies not to consider making a profit on their Covid-19 vaccines were “fanatic and radical.” (AstraZeneca PLC and Johnson & Johnson have promised a not-for-profit effort on their Covid-19 vaccines, so Pfizer clearly has an odd definition of “fanatic and radical.”)If a vaccine proves too expensive or difficult to obtain, those who seek exorbitant profits off of it will be scrutinized far more closely than bankers were after the 2008 crash. Actions like those that have already allowed insiders to pocket $80 million will provoke public revulsion, even if those trades were pre-scheduled. Calls to regulate sectors that take for granted intellectual property protections will grow exponentially. Those demands won’t be fanatical or radical, but mainstream.It will be hard enough to preserve the myth of intellectual property within rich countries. Once international capital flows are involved, it’ll be impossible. Cash-strapped governments around the world are not going to pay tens of billions for vaccines needed to save the lives of their citizens. Any attempts to collect using the traditional trading and legal architecture will be ignored — and will indeed lead to those institutions being seen as discredited or even immoral.There is a lesson here that goes beyond the pandemic. If we are not sufficiently careful over the next decade, one likely economic future consists of tech lords, data czars and algorithm owners sitting in the U.S. or in China soaking up rents and payments from consumers in the rest of the world. That is simply unsustainable. Asian, African and even European governments will step in and prevent those streams of payments from being made. Global intellectual property requires the consent and enforcement of every state, not just one government. That consent will not be given if the capital flows involved appear to be one-way and permanent.A world without global intellectual property would be one of constant electronic warfare. State-backed hacking, such as China apparently tried with Moderna this week, would be a constant threat. Nor would companies enjoy a comfortable relationship with their own governments, who would see them less as engines of growth and more as storehouses of national wealth and security. The days before copyright were tough. When the Murano glassmakers’ industrial processes were considered state secrets in the Republic of Venice, the doges would kill any artisan who left the island.That isn’t a world we want to live in. It’s up to pharma companies and rich-country governments to ensure that we’re not forced to do so. The World Health Organization has asked those with relevant intellectual property to sign up to the Covid-19 Technology Access Pool, which will make vaccines broadly available across the world. Too few have.Perhaps, as some pharma companies have done, IP holders can make it clear they will only seek to profit from their vaccines once the pandemic is over. A little patience would serve them — and the world — well in the long run.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mihir Sharma is a Bloomberg Opinion columnist. He was a columnist for the Indian Express and the Business Standard, and he is the author of “Restart: The Last Chance for the Indian Economy.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The 3 Largest E-Commerce Stocks in 2020
    Motley Fool

    The 3 Largest E-Commerce Stocks in 2020

    Amazon.com (NASDAQ: AMZN), Alibaba (NYSE: BABA), and Shopify (NYSE: SHOP) stand as the world's biggest e-commerce companies, and each stock has recently gone on to hit new highs. Amazon delivered another stellar earnings report when it published second-quarter results on July 30, with sales and profit for the period both surpassing the market's expectations. Total sales in the quarter climbed 40% year over year to reach $88.9 billion, and the company's earnings per share soared 97% to come in at $10.30.

  • Everything You Need to Know About the Coronavirus Vaccine Race
    Motley Fool

    Everything You Need to Know About the Coronavirus Vaccine Race

    While researchers and physicians have learned a lot about the disease caused by novel coronavirus SARS-CoV-2, there seems to be no end in sight to the ongoing pandemic. The good news, though, is that a frantic -- and massive -- effort is under way to develop vaccines that could potentially prevent the spread of COVID-19. Here's everything you need to know about the coronavirus vaccine race.

  • Elon Musk Was Right: Tesla's Stock Price Is Too High
    Motley Fool

    Elon Musk Was Right: Tesla's Stock Price Is Too High

    Tesla has plenty of growth potential, but it is unlikely to achieve the lofty margins it would need to justify its sky-high valuation.

  • Better Coronavirus Stock: Pfizer or Inovio Pharmaceuticals?
    Motley Fool

    Better Coronavirus Stock: Pfizer or Inovio Pharmaceuticals?

    There are no signs the coronavirus pandemic is slowing down in the U.S., with more than 1,100 Americans dying every day from COVID-19 in recent days. Beyond the staggering fatalities, one estimate by the Australian National University puts the virus' potential global economic damage at over $21 trillion. The need for a coronavirus vaccine has thus become paramount to saving lives and mitigating economic catastrophes.

  • New Forecasts: Here's What Analysts Think The Future Holds For Quidel Corporation (NASDAQ:QDEL)
    Simply Wall St.

    New Forecasts: Here's What Analysts Think The Future Holds For Quidel Corporation (NASDAQ:QDEL)

    Celebrations may be in order for Quidel Corporation (NASDAQ:QDEL) shareholders, with the analysts delivering a...

  • Is Palomar Holdings, Inc.'s (NASDAQ:PLMR) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
    Simply Wall St.

    Is Palomar Holdings, Inc.'s (NASDAQ:PLMR) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?

    Palomar Holdings (NASDAQ:PLMR) has had a great run on the share market with its stock up by a significant 70% over the...

  • 3 Reasons to Buy Moderna Now
    Motley Fool

    3 Reasons to Buy Moderna Now

    The shares have surged in the triple digits since the start of the year. And additional gains may be on the horizon.

  • 2 Stocks That Could Double Your Money
    Motley Fool

    2 Stocks That Could Double Your Money

    Two e-commerce stocks that have the potential for significant upside are Stitch Fix (NASDAQ: SFIX) and Sea Limited (NYSE: SE). Stitch Fix has experienced substantial growth over the last several years. Stitch Fix ended the last quarter with 3.4 million active clients who provide valuable data and feedback to the company regarding their likes and dislikes.

  • Better Coronavirus Stock: Novavax vs. Quidel
    Motley Fool

    Better Coronavirus Stock: Novavax vs. Quidel

    Novavax (NASDAQ: NVAX) is focused on developing a vaccine candidate that could potentially prevent infection by the novel coronavirus. Quidel (NASDAQ: QDEL) makes COVID-19 diagnostics tests. Its shares have skyrocketed over 3,500% compared to Quidel's solid gain of close to 277%.

  • Should You Sell These Coronavirus Vaccine Stocks?
    Motley Fool

    Should You Sell These Coronavirus Vaccine Stocks?

    Shares of Moderna (NASDAQ: MRNA), Inovio (NASDAQ: INO), Novavax (NASDAQ: INO), and other companies in the race to develop a coronavirus vaccine have skyrocketed over the past several months, with investors betting on which company will reach the finish line first. As the coronavirus pandemic deepened, the U.S. government put forth a plan to help accelerate vaccine development. At the same time, companies have been pushing their vaccine candidates into human trials at record speed.

  • 3 Hot Stocks to Buy in August
    Motley Fool

    3 Hot Stocks to Buy in August

    Some of the stocks that have more than doubled in 2020 -- yes, doubled -- aren't going to cool down in the month ahead.