Latest news with #ADRs
Yahoo
18 hours ago
- Business
- Yahoo
Why Genmab Stock Smashed It on Monday
The company's uterine cancer drug is advancing in its development. Management is also assertively conducting a share buyback program. 10 stocks we like better than Genmab A/s › On a generally upbeat Monday for the stock market, investors weren't only buying into U.S. companies. Quite a few of them also piled into the American Depositary Receipts (ADRs) of Danish biotech Genmab (NASDAQ: GMAB), on the back of encouraging news from the laboratory. Management's disclosure of the status of a shareholder-pleasing initiative also helped boost sentiment. The price of those ADRs rose by almost 4% as a result -- quite a distance higher than the S&P 500's (SNPINDEX: ^GSPC) 0.4% advance. On Monday morning, Genmab announced a set of phase 1/2 clinical trial results for its rinatabart sesutecan (Rina-S) drug, which it's developing for a type of uterine cancer. The company said the drug showed a confirmed objective response rate of 50% in patients with an advanced form of the cancer who had received treatment with other medications. In its press release detailing the results, Genmab quoted study investigator Ira Winer as saying that the results "demonstrate encouraging data with Rina-S in this patient population and support its further development as a potential therapy for patients with advanced and recurrent endometrial cancer." The company added that, with this at its back, it aims to continue the development of the drug. Separately, Genmab updated investors about its current share buyback program, which authorized the repurchase of up to 2.2 million shares of its Europe-listed stock by July 10 of this year. The company was quite an aggressive buyer, snapping up just under 2.08 million shares for a total of slightly more than 2.7 billion Danish kronor ($411 million). Taken together, those two news items suggest that Genmab is on the right path with its development activities, and believes in its pipeline. The proof with Rina-S, of course, will come with later-stage clinical trials. However, at this point, the company's future looks promising, and the bullish market reaction feels justified. Before you buy stock in Genmab A/s, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Genmab A/s wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Genmab A/s. The Motley Fool has a disclosure policy. Why Genmab Stock Smashed It on Monday was originally published by The Motley Fool
Yahoo
2 days ago
- Business
- Yahoo
Goldman says hedge funds are buying U.S. tech stocks at fastest pace in a decade
-- U.S. hedge funds have been buying equities for four consecutive weeks, with the last week's long buying in dollar terms being the largest since November, according to Goldman Sachs' prime brokerage desk. Vincent Lin of Goldman Sachs has noted that this trend indicates a heightened willingness by hedge funds to assume idiosyncratic risk. In terms of sectors, 10 out of 11 U.S. sectors witnessed net buying, with the information technology sector leading the pack. This sector witnessed the most significant long buying in over a decade. Fund managers purchased nearly every subsector within tech, with semiconductors and semiconductor equipment leading the way. However, software experienced a modest net selling last week. Last week, hedge funds adjusted their positions by decreasing their holdings in the Magnificent 7 tech stocks while increasing their exposure to China ADRs in the first quarter. Despite the escalating trade tensions at the end of the quarter, hedge funds increased their exposure to China ADRs. The most popular China ADRs among U.S. hedge funds include Alibaba Group (NYSE:BABA), PDD Holdings (NASDAQ:PDD), Baidu (NASDAQ:BIDU), and (NASDAQ:JD). However, this shift in investment strategy did not yield the expected results as the Magnificent 7 stocks returned a positive 12% during the second quarter to date, while trade tensions negatively impacted China ADRs. Despite this, U.S. megacap companies continue to be among the most popular long positions for hedge funds. Ben Snider, leading the team at Goldman Sachs, noted that despite a volatile macroeconomic backdrop, U.S. equity long/short hedge funds have managed to maintain a positive return of 1% year-to-date, thanks to strong stock-picking. He also mentioned that the rising short interest has pushed hedge fund gross leverage to a record high. For the first time since the 2021 short squeeze, short interest in the median S&P 500 stock has risen above the long-term historical average, increasing to 2.3% of float from 1.8% in December 2024. In terms of sectors, hedge funds reduced their net exposure to healthcare and increased their holdings in infotech, consumer discretionary, and industrials. Related articles Goldman says hedge funds are buying U.S. tech stocks at fastest pace in a decade BTIG upgrades Doximity saying pullback on macro fears overdone CAE taps Northrop Grumman's Matthew Bromberg as new CEO Sign in to access your portfolio
Economic Times
5 days ago
- Business
- Economic Times
Vodafone Idea approves Rs 20,000 cr fundraise plans in a fight for survival
Instruments on the table include equity shares, convertible bonds, Global Depository Receipts (GDRs), American Depository Receipts (ADRs), and non-convertible debentures with warrants, among others. Synopsis Vodafone Idea's board has approved raising up to Rs 20,000 crore through equity and debt to strengthen its financial position. The capital infusion aims to support operations, reduce liabilities, and facilitate network expansion, including the 5G rollout. Despite a reduced net loss year-over-year, subscriber churn continues to be a challenge for the telecom operator. Vodafone Idea, with the aim of bolstering its finances, has approved a fundraise of up to Rs 20,000 crore through a mix of equity and debt instruments. The move aims to provide the struggling telecom operator with much-needed capital to support its operations, reduce liabilities, and expand network capabilities. ADVERTISEMENT 'The Board of Directors of the Company at their meeting held today i.e. on 30 May 2025, inter-alia, have approved the following: by way of issue of equity shares or by way of issue of any other eligible instruments or securities including securities convertible into equity shares, Global Depository Receipts, American Depository Receipts or bonds including foreign currency convertible bonds, convertible debentures, warrants, non-convertible securities and/or composite issue of non-convertible debentures along with warrants, which may or may not be listed upto an aggregate amount of Rs. 20,000 crores,' the company said in its exchange filing. The fundraising could be carried out in one or more tranches via public offerings, private placements, or a combination of both. Instruments on the table include equity shares, convertible bonds, Global Depository Receipts (GDRs), American Depository Receipts (ADRs), and non-convertible debentures with warrants, among board has empowered its Capital Raising Committee to evaluate and decide the most suitable route for the capital decision comes at a time when the telco continues to face intense competition from peers Jio and Airtel and is in urgent need of capital to invest in its 5G rollout and network expansion plans. ADVERTISEMENT Also read: Ola Electric skids as widening losses dent sentiment The debt-ridden telco reported a consolidated net loss of Rs 7,166.1 crore in the fourth quarter of FY25, which is 6.6% lower from a net loss of Rs 7,674.59 crore reported in the same quarter last year. ADVERTISEMENT Meanwhile, the company's revenue from operations grew 3.8% YoY to Rs 11,013.5 crore for the said quarter, up from Rs 10,606.8 crore in the year-ago sequentially, the company's net loss has widened from Rs 6,609 crore in Q3FY25. ADVERTISEMENT Amid increasing competition, Vodafone Idea continued to lose its JV of UK's Vodafone Group Plc and India's Aditya Birla Group was unable to arrest subscriber churn even as it commenced pan-India 5G rollouts this quarter, covering major markets like Mumbai and Delhi. In December, the subscriber base had fallen below the 200 million mark for the first time since its merger in 2019. ADVERTISEMENT In March, it further declined to 198.2 million. SR Batliboy and Associates, the auditors of Vi, cautioned that the operator's financial performance has impacted its ability to generate cash flows that it needs to settle/refinance its liabilities as they fall due. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? 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The Print
5 days ago
- Health
- The Print
Ayush Suraksha portal launched to monitor, coordinate action on misleading advertisements
Jadhav said, 'With the launch of the AyushSuraksha Portal, we are empowering citizens and professionals alike to become active participants in safeguarding the integrity of Ayush systems.' 'This platform will serve as a vigilant watchtower against misleading advertisements and ensure that only safe and credible products reach people,' he said. The AyushSuraksha Portal represents a significant advancement in pharmacovigilance and regulatory convergence within the Ayush ecosystem, the minister said. New Delhi, May 30 (PTI) In a step towards strengthening consumer protection and regulatory oversight in traditional medicine, Union Ayush Minister Prataprao Jadhav on Friday launched a portal for real-time monitoring and coordinated action on misleading advertisements and adverse drug reactions. The portal has been developed in accordance with the Supreme Court's July 30, 2024, order. The top court had emphasised the need for a centralised dashboard for monitoring and publishing data related to misleading advertisements and adverse drug reactions, an Ayush ministry statement said. It said the court had directed the Union government to ensure the setting up of a system to allow state licensing authorities to report complaints, share inter-state referrals, and update the status of actions taken. The Ministry of Ayush has met the directive well before the court's deadline of June 2025, it stated. By integrating data from state licensing authorities, national pharmacovigilance centres, and key regulatory stakeholders, the AyushSuraksha Portal facilitates real-time monitoring, systematic analysis, and coordinated action on misleading advertisements and adverse drug reactions. 'We have made it accessible to the public so that any citizen can directly report misleading ads or ADRs via the portal,' said Vaidya Rajesh Kotecha, the Secretary of the Ayush Ministry. Developed with technical support from the Central Council for Research in Siddha (CCRS) and aligned with the National Pharmacovigilance Programme, the portal allows consumers, healthcare professionals, and regulatory authorities to report and monitor misleading advertisements and adverse drug reactions through a seamless digital process. A pre-launch training session for nodal officers from these organisations was conducted on April 9 under the chairmanship of Dr. Kousthubha Upadhyaya, Adviser, Ministry of Ayush. The Ayush Suraksha Portal reflects the ministry's unwavering commitment to responsible governance, evidence-based practices, and the safety of millions of citizens who trust and rely on India's traditional systems of medicine, the statement said. PTI PLB NSD NSD This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Yahoo
28-05-2025
- Business
- Yahoo
Why Kingsoft Cloud Holdings Stock Plummeted by Nearly 8% Today
The company released its first-quarter results. Although it beat on earnings, it whiffed on revenue. 10 stocks we like better than Kingsoft Cloud › China's Kingsoft Cloud Holdings (NASDAQ: KC) was under something of a cloud with investors on Wednesday. They traded out of the niche tech company's U.S.-listed American Depositary Receipts (ADRs) after the release of its first-quarter results, leaving the securities with an almost 8% decline in price at market close. That was a far steeper drop than the S&P 500's (SNPINDEX: ^GSPC) 0.6%. For the quarter, Kingsoft Cloud came in at 1.97 billion yuan ($274 million), a nearly 11% increase from the same period of 2024. Management attributed this to higher take from the business of top Chinese tech company Xiaomi and that from artificial intelligence (AI) consumers, among other factors. However, the company still landed rather deeply in the red. Its net loss was nearly 314 million yuan ($44 million) against the year-ago deficit of 359 million yuan ($50 million). On a per-ADR basis, it only managed to trim the shortfall to 0.08 yuan ($0.01), versus first quarter 2024's loss of 0.10 yuan ($0.01). At least that net loss was narrower than expected, as analysts tracking Kingsoft Cloud stock were modeling a far steeper per-ADR figure of 0.62 yuan ($0.09). However, they were also anticipating higher revenue of 2.03 billion ($282 million). In its earnings release, management touted the emergence of AI technology and its effect on the company's fundamentals. It pointed out that billing for AI services increased by 228% on a year-over-year basis (to 525 million yuan, or $73 million). That accounted for 39% of the company's draw from public cloud services. With that kind of potential, I'd imagine that many Kingsoft Cloud investors are growing impatient for their company to drag itself out of the red on the bottom line, as it continues to consistently post bottom-line losses. Like many of them, personally, I'd stay away from the stock until those numbers start to meaningfully improve. Before you buy stock in Kingsoft Cloud, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Kingsoft Cloud wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor's total average return is 982% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Xiaomi. The Motley Fool has a disclosure policy. Why Kingsoft Cloud Holdings Stock Plummeted by Nearly 8% Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
