Fly Intel: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Regeneron Pharmaceuticals (REGN) announced that the antibody cocktail casirivimab and imdevimab administered together, a therapy currently being investigated for use in COVID-19, has received Emergency Use Authorization from the Food and Drug Administration. Casirivimab and imdevimab administered together are authorized for the treatment of mild to moderate COVID-19 in adults, as well as in pediatric patients at least 12 years of age and weighing at least 40 kg, who have received positive results of direct SARS-CoV-2 viral testing and are at high risk for progressing to severe COVID-19 and/or hospitalization. Regeneron expects to have REGEN-COV2 treatment doses ready for approximately 80,000 patients by the end of November, approximately 200,000 patients by the first week of January, and approximately 300,000 patients in total by the end of January 2021. 2. CoStar Group (CSGP) announced that it has reached an agreement to acquire Homesnap for $250M in cash. "The acquisition of Homesnap will enable us to enter a new space and expand the total addressable markets in which we can compete," said CoStar Group founder and CEO, Andy Florance. "The estimated value of commercial real estate assets in the U.S. is $16 trillion. With the new addition of clients and information covering 90% of the estimated $27 trillion dollar U.S. residential real estate market we are almost tripling the size of our addressable markets." 3. The return of Boeing's (BA) 737 MAX was supposed to bring clarity for investors, and yet it has done anything but, Al Root wrote in this week's edition of Barron's. There are certainly tough days ahead for Boeing, with air-travel demand still a fraction of what it was pre-pandemic, and Boeing's net debt ballooning to about $34B from $8B before the second crash, the author noted. Cash flow and profit margins will be affected by the MAX mess for years. But a lot of bad news is already reflected in the shares, the publication added. 4. Blackstone (BX) is doubling down on Asia, seeking to raise at least $5B for its second private equity fund focused on the region, Bloomberg's Cathy Chan and Baiju Kalesh reported, citing people familiar with the matter. 5. Walmart (WMT), Amazon.com (AMZN), Simon Property Group (SPG), Huntington Bancshares (HBAN), Fifth Third Bancorp (FITB), Citizens Financial (CFG), Synovus Financial (SNV), Truist Financial (TFC) saw positive mentions in this week's edition of Barron's.