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Meaning it may go up or then again it may go down? I see.
cloud will either hold support or become resistance
He might be better off running the company than chasing probably penniless and underinsured pipsqueaks like Feuerstein.
HB can be Mike Tyson when he files a law suit.
Has he said that he would?
Yes, after thinking it over it seemed to me that suggesting a permanent shift based on the elements in that article are a pretty thin reed.
Interesting piece from WSJ
Emerging World Loses Growth Lead
Global-Trade Decline Dulls Developing Markets as Outlook Brightens in More-Established Economies
By
ALEX FRANGOS
in Hong Kong,
SUDEEP REDDY
in Washington, and
JOHN LYONS
in São Paulo
CONNECT
China, India and Brazil are disappointing investors. Manufacturing and export growth have slowed in all three countries. Why are stocks from developing countries doing better than those from the major developing economies? WSJ's Jason Bellini has #TheShortAnswer. Image: Getty
Momentum in the global economy is shifting to the developed world, away from the emerging economies that had led growth since the financial crisis.
For the first time since mid-2007, the advanced economies, including Japan, the U.S. and Europe, together are contributing more to growth in the $74 trillion global economy than the emerging nations, including China, India and Brazil, according to an estimate by investment firm Bridgewater Associates LP.
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The turnabout may reshape world capital flows and upend forecasts that corporations had built around ebullient hopes for emerging markets.
Among forces driving the shift: a resurgent Japan that for years was a weakling of the global economy. Japan's economy expanded 2.6% on an annualized basis last quarter, the government reported early Monday, slower than the revised 3.8% first-quarter pace but a meaningful change after years of stagnation.
The recovering U.S. economy has produced steady, albeit tepid, growth. And Europe's economy is estimated to have expanded slightly in the latest quarter after a long recession, new reports this week are expected to show.
At the same time, the emerging world's big guns—such as Brazil, Russia, India and China—are ailing or ratcheting back from their stellar performance of recent years. The International Monetary Fund forecasts the global economy to expand 3.3% this year, compared with 3.2% in 2012 and 4% in 2011.
The shift could create new challenges for companies with big global operations. Some are already feeling the pinch.
Conditions around the world "have slowed down to a much greater degree than we had anticipated," said Richard White, chief executive of Flexible Steel Lacing Co., Downers Grove, Ill.
More
Economists See Just Enough Growth for Fed to Pull Back
The privately held seller of products for belt conveyors used in manufacturing and mining had planned on its annual sales growth to ease to about 12% this year from 20% in recent years. Instead, sales are flat, he said. As a result, the company's employment in the U.S., home to almost two-thirds of its 900 workers, is staying flat, he said.
"The root cause seems to be China," said Mr. White, whose firm operates in 10 nations and sells into more than 150. "The demand that they had going—the need for iron ore, copper and coal—was driving mining activity in Australia, South Africa and South America."
The latest rebalancing of global growth is nascent and could reverse, should emerging economies bounce back even a little.
Many emerging-market economies remain the world's fastest-growing, even if they aren't expanding as quickly as before. Beijing's official full-year growth target of 7.5% would make this year the slowest since 1990, still far surpassing the U.S. pace of about 2%, though some economists figure China will grow even slower than the government target. Economists expect many smaller emerging economies from Southeast Asia to South America to grow at relatively strong rates, though more slowly than in prior years.
One sign emerging economies aren't directly benefiting from the growth pickup in more mature markets: Emerging-market purchasing managers indexes, a proxy for GDP growth, hit their lowest level since early 2009, according to an aggregate gauge compiled by the economic consulting firm Capital Economics. The same measures for the U.S., Europe and Japan were expanding.
Europe's tentative recovery hasn't translated yet into increased trade that could help emerging economies. Japan's renaissance—it is the fastest-growing large developed economy—also hasn't trickled through to its neighbors. Japan's recovery has come with a sharply weaker yen, which makes imports more expensive and means Japanese are more apt to buy things made at home.
The Bridgewater measure, based in part on an estimate of current growth rates rather than official data, shows the U.S., Japan and other developed markets contributing about 60% of the roughly $2.4 trillion in additional economic activity economists expect in the world this year. Bridgewater, the world's largest hedge fund, is known for its global economic analysis and performed well during most of the financial crisis.
Some multinational companies say the slowdown isn't a deterrent. Emerging markets "continue to be a fantastic source of opportunity," Herbert Hainer, chief executive of Germany-based sportswear giant Adidas AG, told analysts last week.
But Adidas' results show a short-term impact. Russia's slowdown weighed on its results, Mr. Hainer said, and its China revenue grew 6% in the first half, compared with 19% growth in the first half last year and 38% growth in the first half of 2011.
There is no one reason emerging economies are suffering.
Rising U.S. interest rates have squeezed credit in parts of the emerging world.
The nature of the U.S. recovery plays a part. Consumer demand drove the past two U.S. expansions but has been modest in recent years, meaning slower growth in demand for foreign goods.
The U.S. expansion has benefited from domestic energy production, which creates demand for U.S.-made equipment. Stagnant U.S. wages mean lower relative labor costs. This U.S. expansion's peculiarities are among indications that a long pattern, in which developed-world growth supported emerging-world exporters, could be breaking down in places like Asia.
"We can't ride on the coattails of the West," said Frederic Neumann, co-head of Asian economics for HSBC Holdings PLC. "Asia has become too big."
Chinese economic indicators in recent days show a bottoming out of its slowdown. But China's damped demand for commodities has affected Latin America and Southeast Asia.
Brazil, Latin America's biggest economy, has stagnated partly due to China's waning appetite for products like iron ore. Brazil's GDP grew about 1% last year after growing 7.5% in 2010.
Indonesia, Southeast Asia's largest economy, is taking a hit from China's slowdown, with exports of coal and palm oil suffering. Its GDP grew 5.9% year-over-year in the second quarter, the worst showing since 2010.
In India, economic mismanagement has led to a plunging currency and widening current-account deficits. Bankers there are holding back credit, making it hard for businesses to invest and for consumers to spend.
Some global companies still voice optimism. Profits at Brazil's Vale SA, a major iron-ore producer, have fallen for eight straight quarters. China, its biggest customer, will continue to need Brazilian ore, said Jose Carlos Martins, Vale's director of strategy.
"There are a lot of people losing sleep over China," he said, "but I don't lose sleep over China."
—Warangkana Chomchuen, Tom Orlik and Xiaoqing Pi contributed to this article.
Write to Alex Frangos at alex.frangos@wsj.com, Sudeep Reddy at sudeep.reddy@wsj.com and John Lyons at john.lyons@wsj.com
Your two posts distort iAndy's intent and content. I'm happy to see well intentioned skepticism, and I think we all should be.
ARRY
Aug 7 (Reuters) - Array Biopharma said it would cut 20 percent of its workforce as Amgen Inc plans to end an agreement to develop and market Array's drug to treat Type 2 diabetes.
Array shares fell as much as 7 percent to $6.12 in trading after the bell.
The company said it would record a one-time restructuring charge of $2.7 million in the first quarter of fiscal 2014.
The company said it would have 200 employees after cutting 50 jobs. Most of the job cuts will be in the company's drug discovery business.
Array and Amgen entered into the agreement in December 2009, under which Array received an upfront payment of $60 million and milestone payments of $8.5 million.
Amgen was funding a number of full-time employees as part of the agreement to identify more such drugs.
The drug, AMG 151, is being tested by Amgen in a mid-stage trial in patients with Type 2 diabetes.
The agreement will end on October 5, Array said in a regulatory filing. ()
Shares of the company closed at $6.55 on Wednesday on the Nasdaq.
VVUS - off .38, a lot better than I feared. If that price holds.
Who else is in with me
Bought some Jan 18 calls. Expensive, IV in the 50's.
Shares unchanged AH
Not quite. Down 30 cents per Yahoo.
I own some.
Australia and natural resoures, FT
The Australian central bank has cut rates by 25bps in a move widely expected as the mineral-rich nation combats a burgeoning slowdown.
The bank writes in a statement accompanying the decision:
In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher.
Last Friday, the treasurer said that the budget deficit would hit A$30bn this fiscal year, twice as wide as formerly predicted. The country, he said at the time, faces the tough challenge of transitioning away from its recent reliance on the growth of the mining sector. The commodities boom had in recent years so boosted the Aussie dollar that other export industries, notably manufacturing and tourism, had fallen on hard times.
Interest rates were already at record lows and the AUD this week hit a three-year low, but, as economists at Moody's wrote before the decision, "a little more juice is needed to insulate against mining investment peaking later in 2013."
More comment from the WSJ on the one child policy
A loosening of China's one-child policy is long overdue.
Full article at
http://online.wsj.com/article/SB10001424127887324653004578649663289200822.html?mod=djemHeardEUH
Being a shareholder, I certainly hope you're right.
PRANA
Reading the release from the company itself, it smells of a spinmeister trying very hard to keep his company front and center, no matter how thin the gruel.
A press release to announce the appointment if a business development director, with the promise of more to come. That's it.
I own some PRAN
You're right. I misunderstood. I apologize.
Because those monsters have to support a market value of $3.5bn.
And to get to that valuation, ARIA was not a stock that "SUCKS", as you phrase it.
Glad to see someone else had trouble understanding the author's point. Cohen has the power to set a match to the powderkeg and might do so without regard to the personal consequences? And no countermeasures are possible?
BOULDER, Colo., July 29, 2013 /PRNewswire/ -- Array BioPharma Inc. (ARRY) announced a strategic collaboration with Celgene Corporation for an Array-invented preclinical development program targeting a novel inflammation pathway. Under the terms of the agreement Array will receive an up-front payment of $11 million and Celgene will have an exclusive option to license multiple clinical development candidates. Array is entitled to receive potential milestone payments of up to $376 million based upon achieving certain development, regulatory and sales objectives. Array is also entitled to receive royalties on net sales of all drugs and will retain all rights to the program if Celgene does not exercise its option.
CHARLOTTE, N.C., July 29, 2013 (GLOBE NEWSWIRE) -- Chelsea Therapeutics International, Ltd. (CHTP) today announced that the U.S. Food and Drug Administration (FDA), upon further review of the Company's resubmitted New Drug Application (NDA) for NORTHERA(TM) (droxidopa), has identified certain technical deficiencies in the resubmission that will require resolution prior to the resubmission being deemed a complete response. As previously announced on July 17, 2013, Chelsea had received written confirmation from the FDA that the resubmission was deemed to be a complete response to its March 28, 2012 Complete Response Letter and was assigned a new PDUFA date of January 3, 2014.
However, the FDA has now notified the Company that they have noted deficiencies that relate primarily to the formatting of certain submitted electronic datasets and statistical programs describing the methods used to generate tables and listings. The deficiencies are unrelated to study conduct, interpretability of study results, or validity of study conclusions.
The Company believes that the matter can be resolved quickly, and expects to submit the necessary response in August. Until the response is received by FDA, the Agency has informed Chelsea that the six month review clock for the NDA specified under the Prescription Drug User Fee Act (PDUFA) will not start. Therefore, upon a successful resubmission with the currently requested changes sought by the FDA, a new PDUFA date will be set by the Agency.
And avoid the post results deflation?
Profitable indications that they're chasing. Long shot but price is cheap.
It was a quibble. Hard to overcome 6 years with the Jesuits.
Has there been any recent recent news, or is the market still reacting to the PBT2 release of a couple of days ago?
We reaffirm our expectation that 2Q13 Iclusig sales will exceed our estimate of $15.3MM
If your expectation exceeds your estimate, doesn't it follow the estimate has been de facto changed?
I'm surprised the stock isn't down more than it is. Maybe the news was telegraphed.
Heck, it's even for the day
ceiling or floor?
SAC - CLDX
Unless there are criminal charges still to be brought, "failure to supervise" is barely a slap on the wrist.
Agree with that, including the proviso. What CS or Feuerstein write is immaterial in the grand scheme of things.
CS expects Iclusig usage to be static with no crossover as the drug establishes its efficacy, or that M.D.'s will slavishly follow the label.
FT:
If this isn't a set-up, GSK people are remarkably stupid
Chinese police have accused GlaxoSmithKline of being the “ringleader” in a bribery scandal involving 700 companies and deals worth as much as half a billion dollars.
In a rare briefing to foreign media, Gao Feng, the lead Chinese investigator on a probe into the UK drugs group, said police were examining Rmb3bn in deals from as far back as 2007. He said Chinese police believe that GSK used travel agencies and consultancies as a conduit to bribe doctors and lawyers in order to boost sales and profits.
Four top GSK executives in China, all Chinese nationals, have been detained as part of the investigation, according to the Ministry of Public Security. Mr Gao said GSK’s top China executive, an English national, had left the country after the probe was announced and had not returned to China.
“We found that bribery is a core part of the activities of the company,” said Mr Gao. “To boost their prices and sales, the company performed illegal actions.”
or sold.
The war continues in the pit,though
I don't own any, btw.
Meaning the pricing has not yet been set?
Takes guts to buy with that sword of Damocles hanging over your head.
I should have reported that I've been out of that trade for days, as I think I hinted I might.
Wish I'd gone back in last night or earlier today.
Depends on whether it behaves or not.
I actually did a trade last week that turned out to be shorter than I'd hoped - in at 16.25, out at 16.50 when it looked like it wanted to misbehave again. I hope this time it will manage to stay out of detention. The management changes make me think this one has a better shot.
Time to plunge back into CLF , I think.
You've settled in dollars and have received in return an instrument whose value will rise or fall with the value of the dollar expressed in Elbonian rasbuckniks even if the value of the instrument in E.B.'s stays absolutely flat forever.
As long as the underlying company's balance sheet and revenues are in a currency other than dollars, how do you avoid currency risk no matter which instrument yo select?
The suez canal is significant - about 4% of world oil passes thru the canal - but not significant enough to justify the Morsi related spike. I'm short from 101.52 and 101.17.
EDIT - should have added that I may be out before I go to bed, btw.
sales cannot begin until the reimbursement negotiations are completed.
That puts pressure on the drug developer side to hasten the process, I would think.