Investors' risk appetite is improving, with the S&P 500 reaching new highs and the VIX index falling below 20. However, volatility may rise due to uncertainties surrounding the Federal Reserve's interest rate policy and ongoing geopolitical tensions in the Middle East, particularly between Israel and Iran. As the US presidential election approaches, market fluctuations are expected, prompting recommendations for investors to manage potential volatility through structured strategies and exposure to gold and oil as hedges.
14:12 15.10.2024
Forbion has successfully raised over $2.2 billion for its latest investment funds, exceeding original targets and bringing total assets under management to over 5 billion euros. The Forbion Growth Opportunities III fund focuses on later-stage biotech companies, while Forbion Ventures VII targets early-stage therapeutics startups. This fundraising follows a series of significant exits, including six investments of at least $1 billion in the past year, enabling Forbion to enhance support for its portfolio companies.
Elis, a European leader in the rental and care of linen, workwear, and hygiene equipment, serves over 400,000 clients across various sectors, including hospitality, healthcare, and retail. By the end of 2023, the company operated 434 production and distribution centers globally. UBS continues to endorse a buy recommendation for Elis.
14:09 15.10.2024
Johnson & Johnson reported strong sales growth for its cancer therapy Carvykti and immune disease drug Tremfya in Q3, as new approvals expanded their market reach. This growth comes as the company braces for biosimilar competition to its second-best-selling drug, Stelara, expected in January 2025, which saw a 7% sales decline due to insurer rebates. J&J remains optimistic, raising its operational sales guidance for the year, with plans to expand Tremfya into Crohn’s disease and Carvykti's recent FDA approval for earlier treatment in multiple myeloma.
The French healthtech sector demonstrated resilience in 2022, raising €2.6 billion, a 14% increase from 2021, despite a 45% drop in market capitalization. Venture capital financing, particularly in e-health, biotech, and medtech, remained robust, with €1.8 billion raised across 16 significant deals. IPOs contributed €198 million, but venture capital continued to dominate funding sources, reflecting a shift in investor focus towards bio-manufacturing and CDMO activities.
Frazier Healthcare Partners has acquired DirectMed Imaging, a prominent provider of aftermarket parts and repairs for diagnostic imaging equipment. This partnership aims to enhance DirectMed's growth and market leadership by leveraging Frazier's extensive healthcare expertise and resources. DirectMed, which supports healthcare organizations by extending the life of imaging equipment, plans to expand its capabilities in various imaging modalities.
Goldman Sachs analyst Chris Hallam has raised his price target for UBS shares from CHF 37.10 to CHF 38.70, maintaining a "buy" rating due to higher expectations for assets under management and anticipated progress in reducing operating expenses. Zürcher Kantonalbank (ZKB) acknowledges potential risks during UBS's integration of Credit Suisse but continues to rate UBS shares as "overweight." UBS is set to release its third-quarter figures on October 30.
13:46 15.10.2024
UBS faces demanding requirements from FINMA to enhance its emergency plans, particularly as it integrates Credit Suisse. Experts are concerned about the potential need for state intervention in future crises, while UBS is actively collaborating with FINMA to prepare for various scenarios.
13:40 15.10.2024
UBS has been criticized by the Swiss financial supervisory authority, Finma, for its inadequate emergency plans following its takeover of Credit Suisse. The bank must revise these plans by the end of 2026 to ensure an orderly wind-up in a crisis, amid increasing international pressure for stricter capital requirements and detailed separation strategies. This revision could incur costs in the hundreds of millions and impact profitability and dividend policies, but UBS is cooperating with authorities and views the review as a chance to enhance its resilience.
Nau
13:40 15.10.2024
The Federal Trade Commission has finalized updates to premerger notification requirements for healthcare companies, increasing the information needed for merger and acquisition reviews. This change, the first in 45 years, aims to enhance antitrust assessments amid rising deal complexity, despite pushback from the American Hospital Association, which criticized the increased reporting burden as excessive. The new rules will take effect 90 days after publication in the federal register.
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