Monday, 23 Dec 2024

European Economics Preview: Germany Factory Orders Data Due

Broncos vs. Lions live blog: Real-time updates from the NFL Week 14 game at Empower Field – The Denver Post

Live updates, tweets, photos, analysis and more from the Broncos game against the Detroit Lions at Empower Field at Mile High in Denver on Dec. 12, 2021.

Mobile users, if you can’t see the live blog, tap here.

Opinion | We’re Edging Closer to Civil War

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By Charles M. Blow

Opinion Columnist

Why Compugen Is Rising In Pre-market?

Compugen Ltd. (CGEN) has presented preliminary translational data from patient biopsies showing immune activation in the tumor microenvironment after treatment with COM701, the company’s potentially first-in-class anti-PVRIG antibody, as a monotherapy and in combination with nivolumab. COM701 induced immune activation in the tumor microenvironment of a patient with ovarian cancer, the company said. Also, COM701 with nivolumab induced markers of activated dendritic cells in the serum of 2 responding patients. Increased TME immune activation and TCR clonality was observed in a patient with PVRL2+, PD-L1low MSS-CRC with a partial response following treatment of COM701 in combination with nivolumab.

“These translational data are exciting as they represent the first demonstration of immune activation in the TME of patients who have been treated with COM701 monotherapy or in combination with nivolumab and add to previous data showing immune activation in peripheral blood taken from treated patients,” said Eran Ophir, Vice President of Research and Drug Discovery at Compugen.

Shares of Compugen were up 4% in pre-market trade on Thursday.

November jobs report disappoints after recent gains

New York (CNN Business)US labor market productivity tanked in the third quarter. Paychecks grew and the number of hours worked jumped, but workers’ output increased only at a moderate pace.

Revisions to the data that were initially published a month ago show that the productivity drop was even worse than feared, falling 5.2% on a seasonally adjusted basis. That’s the steepest decline in the quarterly rate since the second quarter of 1960 when productivity fell 6.1%.
The initial read on the data had shown the worst drop since 1981.

    Unit labor costs, meanwhile, climbed at an annual rate of 9.6% in the third quarter, reflecting a 3% increase in hourly compensation and a 5.2% decrease in productivity.

      The rapid jobs recovery is leading to more hours worked, and the competition for workers is pushing up wages. But output isn’t rising as quickly.

        Economists warn not to read too much into this one data point. Not only was the third quarter plagued by supply chain issues that are still not fully resolved, it was also when the Delta variant of the coronavirus threw a wrench into the recovery, causing cases to rise and economic activity to slow compared to the second quarter.
        This is a developing story. It will be updated

        Chewy Slips 7% As Wedbush Downgrades The Stock To Neutral

        Shares of Chewy Inc. (CHWY) slipped over 7% on Monday morning after Wedbush Securities lowered the online pet food retailer’s rating to “Neutral” from “Outperform.”

        “Net active customer growth has disappointed in first half of 2021 and we expect further disappointment in second half driven not only by churn of last year’s surge in new customers but also by weaker gross customer additions,” said analyst Seth Basham.

        The analyst currently expects the stock to drop to $70 from $90 price target.

        CHWY is currently trading at $58.25, down $4.44 or 7.08%, on the Nasdaq.

        Last Thursday, the company had reported its second-quarter results, with loss narrowing to $16.7 million or $0.04 per share from $32.8 million or $0.08 per share last year. Analysts had expected loss of $0.02 per share in the quarter.

        Sales rose to $2.16 billion from $1.69 billion a year ago, but fell short of analysts’ average estimate of $2.20 billion for the quarter.

        Opinion | We’re Edging Closer to Civil War

        Send any friend a story

        As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

        By Charles M. Blow

        Opinion Columnist

        WATCH: Broncos’ Javonte Williams plows through Lions defense for 5-yard touchdown run – The Denver Post

        Javonte Williams picked up where he left off against the Chiefs on Sunday.

        The Broncos’ rookie running back plowed through the Lions’ defense en route to a 5-yard touchdown run on the team’s opening drive at Empower Field at Mile High.

        It was just Denver’s second opening drive touchdown of the season.

        The score gave the Broncos a 7-0 lead.

        European Economics Preview: Germany Factory Orders Data Due

        Factory orders data from Germany is due on Monday, headlining a busy day for the European economic news.

        At 2.00 am ET, Destatis is slated to issue Germany’s factory orders data for October. Orders are forecast to fall 0.5 percent on month, reversing a 1.3 percent rise in September.

        At 3.00 am ET, the Czech Statistical Office releases retail sales for October. Economists expect sales to grow 4 percent annually, following a 3.6 percent rise in September.

        At 3.30 am ET, Germany’s construction Purchasing Managers’ survey data is due.

        Half an hour later, October retail sales figures are due from Italy. Sales had advanced 0.8 percent on month in September.

        At 4.30 am ET, UK Markit/CIPS construction PMI data is due. Economists forecast the index to fall to 52.0 in November from 54.6 in the previous month.

        In the meantime, Eurozone Sentix investor confidence survey results are due. The sentiment index is seen at 15.9 in December versus 18.3 a month ago.

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