Yesterday we spoke with ASX:CLB’s James Baillieu and Keith Cohn who are looking forward to the quarterly report, which should be out before months end.
It seems that their strategy to go online and focus on the B2B business is paying off and we hope that this also translate to a higher stock price.
Also for us in Nico-Lab, we should hear from the company shortly.
Just take a look at 4DX ($650M market cap, with less than $1M revenues) and EMV ($190M market cap, nil revenues), to indicate how well the medtech space is tracking.
Last night, stocks fell on speculation that recent gains have outpaced prospects for a quick end to the stalemate over fresh economic stimulus. Treasuries and the dollar climbed.
Banks led losses in the S&P 500, with JPMorgan Chase & Co. and Citigroup Inc. sinking as investors worried that third-quarter earnings signaled just a pause in pain from soured loans. Eli Lilly & Co. tumbled after putting its government-sponsored antibody test on hold due to potential safety concerns, hours after Johnson & Johnson paused its Covid-19 vaccine trial.
Amazon.com Inc. closed little changed and Apple Inc. slumped after Monday’s surge in big tech. The online retailer kicked off its Prime Day sale event, while the tech giant unveiled its iPhone 12 line with 5G speed.
Prospects for U.S. fiscal stimulus before Election Day dimmed on Tuesday, with House Speaker Nancy Pelosi demanding the Trump administration revamp its latest offer and Senate Republican leader Mitch McConnell pushing a smaller-scale strategy that she quickly rejected. His proposal to vote next week on just one provision appeared to stoke opposition even from President Donald Trump, who tweeted “Go big or go home!!”
“It’s been a rollercoaster ride in terms of communication from both sides,” said Mark Heppenstall, chief investment officer at Penn Mutual Asset Management. “There are still going to be significant pockets of stress in the economy,” and a fiscal package could help bridge the gap until we do get a vaccine, he added.
Meanwhile, Democrats grilled U.S. Supreme Court nominee Amy Coney Barrett for hours about abortion rights, health-care law, guns and election disputes, but made little progress derailing her likely Senate confirmation and a strengthened conservative majority on the court.
The SPI is down 50 points this morning.