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The pen is mightier than the sword - A picture is worth a thousand words
• Risk appetite trends continues to mark time with a slow but steady climb led by yet another S&P 500 11-month high
• The Dollar's tumble has run short on steam as we officially enter the communications blackout pre-FOMC
• NZD is this morning's top mover with an RBNZ hold that sent the currency soaring - the question is does it last?
Security
forces and ambulances are responding to a mass shooting at Sarona
Market in central Tel Aviv, officials say. At least three people have
been confirmed dead, according to Channel 10 and other Israeli media. As
many as nine people have been injured and two suspects have been taken
into custody. James Valles reporting (BNO News)
Satu
Vainikka, chief executive of ValiRx Plc (LON:VAL), tells Proactive
Investors the company is discussions with larger companies over
potential licencing deals and collaborations for its lead cancer drug
VAL 201.
The company is to broaden the phase I/II clinical trial of
its lead cancer drug to speed up the dose expansion stage, allowing it
to complete the prostate cancer trial within the projected and
regulatory-agreed time frame.
“A biotech business model is to take
things from A to B and once you start reaching B, which in our case is
Phase II clinical trials, we are starting to talk to big pharmaceutical
companies or bigger biotech companies,” Vainikka says.
The company has also started preparatory work on a full efficacy study (phase III) of the drug in prostate cancer treatment.
While
television viewing habits are changing, especially amid the rise of
streaming outlets like Netflix and Amazon Prime, people will likely
consume more video than ever before in the coming years, according to
one expert. 'We are in a battle for people's time and attention,' said
Russell Sapienza, entertainment & media advisory practice partner at
PwC, which released a five-year outlook report on the entertainment and
media space on Wednesday. 'We see that as one of the shifts occurring
over these five years.' He said the major traditional cable providers -
from companies like Comcast , Charter Communications , Verizon
Communications and Cablevision - are working on 'streaming only' options
in an effort to compete with the aforementioned streaming giants.
'There are about 10 million households with a broadband line coming into
the home with no television,' he said, adding that these households
represent an important opportunity for TV and video providers. Sapienza
doesn't see much of a battle between the old players and the new
players, like Netflix and Amazon. 'I think everyone will prevail,' he
said, adding 'I think you will have this traditional linear option that
tends to be shrinking, but not very fast. And you have a demographic of
youth who are consuming media at different times on different devices
and there are players out there offering TV everywhere.' In order to
grow, Sapienza found that cable and streaming companies must tap into
overseas markets, many of which are buoyed by a growing middle class and
higher disposable income. 'We used to monitor about 30 countries and we
are now monitoring 54 where media is taking hold,' he added. PwC said
total U.S. TV and video revenue will reach $122.09 billion in 2020,
compared to $119.77 billion in 2015. The number of U.S. pay-TV
subscribers will reach 101 million in 2020, from 100 million in 2015.
TheStreet's Scott Gamm reports from Wall Street.
Oil
is building on its highest close of the year. Prices have nearly
doubled since hitting 13 year lows earlier in the year. Energy stocks
have rebounded as well, sending the S&P 500 to a 10 month high.
Alphabet ( ) meets with investors today. The Google parent company may
have to face questions about the fate of its Nest smart device unit.
Nest's founder abruptly resigned last week. Google bought Nest in 2014
for $3.2 billion and the company went on a hiring and acquisitions
spree. It's also expected to address the gender pay gap. The Alphabet
meeting will be live streamed. Lululemon ( ) shares are down in the
pre-market after its earnings report disappoined. Same store sales were
higher but overall, results missed.
