The bond market is clear: a yield of 9.2% on Teva’s bondsIn the background of countless negative news, Teva’s bonds fall. The situation in Teva (Nasdaq: TEVA), once the flagship company of the Israeli economy, continues to get complicated. In light of the weakness in the generic markets, the erosion of Copaxone’s revenues and many legal claims, the yields on the company’s bonds have been crashing in recent days, and raise the question of the company’s ability to serve its debts in the coming years.Teva – a lot of threats, one chance; Is the company on the way to be sold?Altshuler Shaham is entering the field of basket funds – offering funds at low management feesThe company’s debt at the end of last quarter was $ 28.6 billion, or $ 27.6 billion, compared with $ 28.9 billion at the beginning of 2019. The recent losses in US painkillers / price adjustments are expected to significantly increase the company’s debt, You’ll need to address this in your upcoming reports. A look at the company’s debt structure indicates that it will have to recycle debt of nearly $ 8.6 billion by 2021, according to the following ratio: $ 0.3 billion in 2019, $ 3.3 billion in 2020, and $ 4.95 billion in 2021.
It is important to note that the increase in the yields on the Company’s bonds for short periods increased, while the global junk bond market recorded sharp increases since the beginning of 2019 , Mainly due to the fact that the US refrained from raising dollars in the market, and expected central bank incentives. If the current scenario in the financial markets does materialize, Teva will have to deal with a much less sympathetic financing market in the last quarter of 2019.FRA / OIS spreads for December: The financing market indicates a “tight market” in the last quarter of the yearAfter a 48% surge this year, Lockheed Martin hit forecastsThe Pentagon’s No. 1 arms supplier shows a particularly strong quarter, with all areas of the company showing improvement. At the same time, the company raises its forecasts for the continuation of 2019The Wall Street report season is at its peak, with one of the most prominent news today being Lockheed Martin (LMT), the “queen” of arms manufacturers, which is able to beat early forecasts despite the positive reports.Teva – a lot of threats, one chance; Is the company on the way to be sold?Altshuler Shaham is entering the field of basket funds – offering funds at low management feesThe Pentagon’s No. 1 arms supplier reported sales of $ 14.4 billion in the fourth quarter, compared to $ 13.39 billion in the corresponding quarter of last year. The current figure is higher than the forecast of $ 14.2 billion.The airline’s sales totaled $ 5.55 billion in the fourth quarter, a 4% increase over the corresponding quarter last year, with sales of F35s better than expected. The company’s rocket sales totaled $ 2.41 billion, a 16% increase over the same period last year. The company’s radar and control sales totaled $ 3.76 billion, up 6% from the year-earlier period, with $ 2.69 billion, an annual increase of 11%.
The company posted a net profit of $ 1.4 billion, or $ 5 per share, compared to $ 1.16 billion, or $ 4.05 per share, for the same quarter last year.The company reported that during the last quarter it distributed a dividend of $ 622 million to investors and made buybacks of $ 219 million.Meanwhile, the company is currently revising its forecasts for 2019. The company’s sales are expected to reach $ 58.25-59.75 billion, compared with a previous forecast of $ 56.75-58.25 billion. Earnings per share are expected to be $ 20.85 to $ 21.15, compared to a previous forecast of $ 20.05-20.35 per share.Although the stock price fell in the past week, the company’s share is one of Wall Street’s most recent hits. Since the beginning of 2019, the company’s share has risen 49%, far above the other companies in the sector.Fitch downgrades Boeing’s rating outlookThe airline is expected to publish its quarterly reports on Wednesday, and the company is expected to jump to $ 24 billion by the end of the year,Fitch Ratings said that the company’s financial rating is in jeopardy. The company’s share is responding to a drop in the company’s share price this week. 1.2%.Teva – a lot of threats, one chance; Is the company on the way to be sold?Altshuler Shaham is entering the field of basket funds – offering funds at low management fees
While Fitch confirmed the company’s debt rating at ‘A’, its rating outlook fell to negative. The change in Fitch’s forecast stems from the regulatory uncertainty regarding the timing of the return of the 737s to the activity, and the costs that accumulate in the background of the aircraft’s landing. The continued sequencing of the planes by the end of the year is expected to cause significant problems for the company’s reputation in the eyes of the public. In addition, Fitch warns that the company’s net debt could rise by $ 10 billion, to $ 24 billion.The downgrading of the company’s rating may be critical to the company’s backbuyings in recent years. BBB’s credit rating will cause the company to lower its debt issuance in order to make repeat purchases. Recall that in the first quarter of 2019 the company made a repeat purchase of $ 2.3 billion, and distributed a dividend of $ 1.2 billion to investors. Last April, the company announced that it was suspending the re-acquisition of the safety affair in the background.The rating company’s announcement comes after the company announced last week that it would make a one-time provision of $ 4.9 billion following the company’s aircraft. The aforementioned provision is expected to cause the Company to record a loss in the coming quarter.
The company is expected to report its results for the first quarter on Wednesday, before the start of trading. The Wall Street forecast is that the company will post a adjusted profit of $ 1.79 per share, down 46% from the same period last year. The company’s revenues are expected to total $ 19.1 billion, with the company delivering a total of 90 commercial aircraft in the last quarter, compared with 194 deliveries in the same period last year.The agreement to the US debt ceiling close, the celebration of the markets on the way to be completed?According to reports in the US this evening, the US administration and Democrats are close to an agreement that will raise the debt ceiling for the next two years. At the same time, the money market indicates that the players are hedging themselves against the liquidity crisis that will come immediately after raising the debt ceilingThe White House and Democrats in Congress are close to an agreement to raise the US debt ceiling for a period of two years, the CNBC news network reported.Altshuler Shaham is entering the field of basket funds – offering funds at low management feesRecall that at the beginning of March, the US reached its last debt limit of $ 22 trillion, and since then the Treasury Department has been working on an emergency program when it avoids raising large amounts of money from the markets.
According to the report today, the agreement between the two sides, which will prevent the US administration from reaching defaults at the beginning of September, is already “closed” and now there are several technical parts left.
The solution to the crisis between the two sides is likely to cause a significant market problem, with the US expected to raise between $ 600 and $ 650 billion shortly after the announcement of the agreement, when it is not clear how the market can digest supply So great.Apart from the recent jump in interest rates on the finance market, please note what happens in the FRA / OIS spreads for the coming months. OIS is the risk-free interest rate in the market, and is usually attributed to the Fed rate. “The forward rate agreements (FRA) are a predetermined interest rate agreement and are linked to the expected LIBOR interest rate. The market is predicting a “credit crunch” (similar to the last quarter of 2018) due to the inability to fund the government’s funding needs.For those wondering why the Fed must lower its interest rates at the next meetings, despite the reasonable macro data, this is the answer. If the Fed does not respond, the US dealers will not be able to finance their day-to-day operations, and the outcome to the markets could be particularly painful, so despite the reports of the agreements, they will try to delay the agreement as much as possible.How will the Fed’s next steps affect the recession of the expected liquidity problem? The question of a trillion dollars. What is certain is that the financing conditions in the markets are expected to be much more challenging than the conditions we have experienced in the last 7 months.
Who is vulnerable in the current situation? Similar to 2018, there are a number of “steps” in the markets. We will highlight 2 particularly vulnerable markets at the moment: The first to feel the distress of dollars in the market are the emerging markets, which have benefited in recent months from the US participation in the financing markets. Turkey / Argentina / Brazil / China / India may find themselves again in focus in the near future. The second market is the commodity market. Last week’s fall in the price of oil stopped this evening in the wake of tension in the Persian Gulf, but history shows that oil is particularly sensitive to the liquidity situation in the markets.Intec Pharma failed in the Parkinson’s trial – losing 81% in Wall Street tradingWho knew about the impending failure? The company’s share has lost 40% in recent months; Dan Oren, who invested half a year ago (11% of the company) lost most of his investmentIntec Pharma has tried to develop an accordion drug that is released temporarily and continuously at the intestine. The company tried to combine a drug with a delayed release of the drug Levodopa.In the third phase of the trial, the results of which were reported today, the safety and efficacy of the accordion pill in relation to the normal pill (without a delayed release mechanism) was evaluated. The results of the trial did not indicate a statistical advantage of the use of the accordion pill over the existing treatment in the market, as the duration of the time was not effective, and the symptoms of Parkinson’s disease worsened.
The Company’s accordion pill is an oral administration designed to improve the efficacy and safety of existing drugs and drugs in the development of the stomach by means of a continuous and controlled release mechanism.The company’s product pipeline includes two products in the clinical trials stage: Carbidopa / Levodopa, or AP-CDLD, for the treatment of Parkinson’s disease symptoms in advanced Parkinson’s patients and the accordion pill for cannabinoids based therapies (CBD and THC) for the treatment of various pain signs.In addition, the company has a feasibility agreement with Novartis for the development of an accordion pill with a molecule belonging to Novartis.The dream broke: Chewy completes a 25% drop from the peak on the day of the issuefter a 60% jump on its first day on Wall Street, the optimism surrounding the stock of food services and animal accessories is rapidly dissipating. Tonight the company is losing another 7.5% of its valueThe Dow Jones Industrial Average (CHWY), which was issued a month and a half ago and jumped 60% on its first day on Wall Street, appears to have evaporated quickly, When the company’s share completes a 25% drop from the peak of that evening, and is traded at a market value of $ 12.1 billion.
Altshuler Shaham is entering the field of basket funds – offering funds at low management feesThe company, which sells subscribers for the purchase of food and animal accessories in the app, reported revenue of $ 1.1 billion last quarter, an increase of 45% compared with the corresponding quarter last year, and in line with expectations at the time of the issue. The company reported about 11.3 million active users in the company’s application. The company posted a net loss of $ 29.5 million, compared to a loss of $ 59.81 million in the corresponding quarter last year. The company’s gross margin was 22.9%.Although the company was less aggressive than earlier forecasts, it appears that what is deterring investors now is the company’s financial situation. The company’s cash at the end of the quarter was $ 29.29 million (less than the net loss in the last quarter), meaning that the chances that the company will have to dwindle investors again in the near future are high.ts offering coincided with a number of issues that caused signs of a bubble in the markets. Fiber Israel (Nasdaq: FVRR), BeyondMet (NYSE: BYND), Lipet (NYSE: LYFT) and Ober (NYSE: UBER).The Pentagon’s number one arms supplier, Lockheed Martin (LMT), is showing a particularly strong quarter, with all areas of the company showing improvement. At the same time, the company is raising its forecasts for the continuation of 2019. The company’s stock was stable after it fell early by 1.7% (for the full article).
This week, leading companies are expected to report, including SNAPCAT, Visa, V, Boeing, (NYSE: AMT), Southwest Airlines (NYSE: LUV), and Twitter (NYSE: TWTR).In the Israeli sector, Teva (Nasdaq: TEVA) closed down slightly, and continued to focus on the backdrop of the recent sharp drop. Last week it was reported that the Antitrust Authority filed a lawsuit against Teva and its subsidiaries claiming that the group received payment from Endo, which develops painkillers Lidoderm and Opana ER, in exchange for avoiding the launch of generic generic drugs. Tufin (Nasdaq: TUFN) lost 5.7% today in volatile trading, after falling more than 23% in the last two trading days, without a significant event by the company. Protalix (Nasdaq: PLX) fell slightly in the wake of the announcement of the resignation of its CFO, Yossi Maimon, while CEVA (Nasdaq: CEVA) rose 6% this evening. Full version).AudioCodes (Nasdaq: AUDC) jumped 9.8% and is expected to focus tonight after the company beat its forecasts for the fourth quarter, with revenue growth of 13.8% and a 57% increase in non-GAAP net income for the same period last year. (To the full article).CHIASMA (CHMA) reports good trial results in Phase III clinical trial of its product for the treatment of ecomalia