Rex Wayne Tillerson’s Public Financial Disclosure Report makes interesting reading. Filed on 31st December last year he will have to liquidate much of this portfolio if he is to take up his government role. Although the portfolio does not give exact size of holdings, its value is estimated to be worth maybe $400 million according to press reports. Most of that is related to his ExxonMobil (NYSE:XOM) holdings and pension.
It’s important to say from the very beginning that what I’m about to write are just highlights from the Global Investor’s peering through the document. I can’t be sure if Tillerson has managed this portfolio actively or not and I am speculating with some thoughts below, and be aware the list is not exhaustive, as there are many holdings of different sizes including many ADRs from foreign companies. The filing can be found here.
Apart from the ExxonMobil holdings, he has large investments in real estate, single equities, equity ETFs, equity mutual funds, bonds, government bond and money market funds. I’m going to talk about some of the more interesting equity positions, as I think they might provide some insight, from a very smart man who has been at the center of global energy for the last 25 years.
live stock market: Madrigal Pharmaceuticals, Inc. (MDGL)
- [By WWW.MONEYSHOW.COM]
Madrigal (MDGL) has a significant market opportunity to treat NASH. Its MGL-3196 is well positioned as a potential treatment when the illness is at its earliest stages of development, and thereby save the most lives and money.
live stock market: Finisar Corporation(FNSR)
- [By Evan Niu, CFA]
Shares of optical component companies have dropped today, includingOclaro (NASDAQ:OCLR), Acacia (NASDAQ:ACIA), Lumentum (NASDAQ:LITE), and Finisar (NASDAQ:FNSR), whose shares were down 11%, 11%, 6%, and 3%, respectively, as of 3:30 p.m. EDT, after the U.S. broadened its investigation regarding compliance with sanctions programs.
- [By Leo Sun]
Shares of fiber optic components maker Finisar (NASDAQ:FNSR) fell 17% in April due to a big third-quarter miss in mid-March. Its revenue rose 23% annually to $380.6 million, but that missed expectations by $9 million. Earnings rose136% to $0.59 per share, but that also missed estimates by three cents. Finisar’s top and bottom line guidance for the fourth quarter (16% sales growth and 83% earnings growth at the midpoints) also came in below Wall Street estimates.
- [By Renu Singh]
Finisar’s (FNSR) datacom segment generated $184.4 million in revenue in the last reported quarter. This was a sequential growth of 9.3%. The Ten Gigabit Ethernet or 10GbE modules contributed about 40% to the datacom segment’s revenue. As organizations go digital, there are an increasing number of applications that require considerable bandwidth to support the transfer of large data, video, and audio files across networks. Using 10GbE optical links provides sufficient bandwidth to support these bandwidth-intensive applications at a lower cost.
- [By Lisa Levin]
Finisar Corporation (NASDAQ: FNSR) reported in-line earnings for its fourth quarter, but issued a weak forecast for the current quarter.
Shares of Booz Allen Hamilton Holding Corporation (NYSE: BAH) dropped around 16 percent in pre-market trading as the company reported a DoJ civil and criminal investigation regarding cost accounting and cost charging practices.
Shares of Celsion Corporation (NASDAQ: CLSN) jumped over 110 percent in pre-market trading after withdrawing stock offering. T
Shares of Hornbeck Offshore Services, Inc. (NYSE: HOS) surged around 17 percent in pre-market trading after the company reported a $300 million credit facility.
live stock market: Ultragenyx Pharmaceutical Inc.(RARE)
- [By Johanna Bennett]
Nothing guts a drug stock like bad clinical trial data. Shares of Ultragenyx Pharmaceutical (RARE) fell as much as 10% after a seizure medication failed in a phase II study.
Trading at a recent $72.22, the shares were down 7.7% after earlier falling as much as 10% to $70.51
The seizure drug UX007 was tested as a treatment for glucose transporter type-1 deficiency syndromeor Glut1 DSamong a small group of patients. Data released Wednesday showed that it only cut the rate of seizures in the drug arm by 13.4% compared to the placebo arm, falling short of statistical significance.
Investigators, though, teased out a clinically — though not statistically — significant benefit for patients experiencing what are called absence seizures. Ultragenyx now intends to focus on that in a Phase III pivotal trial.
Leerik analyst Joseph Schwartz called the selloff a buying opportunity.
We had been cautious on this asset (and its two programs – G1DS and long-chain fatty acid oxidation disorder/LC-FAOD; LINK) – but believe the selling pressure after mkt. presents a buying opportunity ahead of a more de-risked X-linked hypophosphatemia (XLH) Ph.3 data in 1H17.
Cowen analyst Eric Schmidt remained convinced of RAREs long-term prospects thanks to a diversified orphan disease pipeline. And analysts at Credit Suisse see more catalysts ahead in 2017.
We are buyers on a pullback and we like RAREs setup for the remainder of 2017…Remaining 2017 catalysts keep us buyers on a pullback: We see Q2:17 KRN23 ph3 adult XLH data, H1:17 rhGUS FDA/EMA submission, potential KRN23 CHMP decision in mid-17 (based on late-2016 EMA submission/validation), H2:17 Ace-ER ph3 GNEM data, and potential KRN23 FDA submission in late-17/early-18 as upcoming catalysts worth owning for.
- [By Lisa Levin] Related Mid-Afternoon Market Update: CytomX Therapeutics Climbs Following Bristol-Myers Squibb Partnership; Medgenics Shares Slide 15 Biggest Mid-Day Losers For Monday Cerulean Pharma's (CERU) CEO Chris Guiffre on Cerulean and Dar茅 Proposed Transaction (Transcript) (Seeking Alpha)
Related Mid-Afternoon Market Update: Cancer Genetics Gains After Q4 Results; Heat Biologics Shares Slide Mid-Day Market Update: Dow Rises Over 50 Points; Tandem Diabetes Care Shares Plunge Tandem Diabetes prices stock offering at $1.25; shares off 19% premarket (Seeking Alpha)
Cerulean Pharma Inc (NASDAQ: CERU) shares dipped 27 percent to $0.817. Cerulean Pharma shares have dropped 60.28 percent over the past 52 weeks, while the S&P 500 index has gained 15.31 percent in the same period.
Tandem Diabetes Care Inc (NASDAQ: TNDM) shares tumbled 24.2 percent to $1.17. Tandem Diabetes Care priced 18 million share offering at $1.25 per share.
Alphatec Holdings Inc (NASDAQ: ATEC) shares fell 21.1 percent to $2.10 as the company reported a $18.9 million private placement.
Heat Biologics Inc (NASDAQ: HTBX) shares dropped 15.5 percent to $0.870. Heat Biologics priced its 5 million share offering at $0.80 per share.
Rave Restaurant Group Inc (NASDAQ: RAVE) shares fell 15 percent to $1.76.
QuickLogic Corporation (NASDAQ: QUIK) shares declined 12.2 percent to $1.58. QuickLogic priced its 10 million share offering at $1.50 per share.
Orion Engineered Carbons SA (NYSE: OEC) shares dropped 9.5 percent to $19.10. Orion Engineered Carbons reported a 5 million common stock secondary offering.
Interpace Diagnostics Group Inc (NASDAQ: IDXG) shares fell 8.7 percent to $2.61 after the company reported debt restructuring and agreed to eliminate its royalty and mileston
- [By Jon C. Ogg]
Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) was indicated down 7% at $72.85 on Thursday due to results from a seizure medication study. It was downgraded to Neutral from Overweight at Piper Jaffray, and Wedbushlowered its target for the stock.
live stock market: Navigant Consulting, Inc.(NCI)
- [By Lisa Levin]
Shares of Navigant Consulting, Inc. (NYSE: NCI) were down 14 percent to $17.02 after the company posted downbeat quarterly results.
Hertz Global Holdings, Inc (NYSE: HTZ) was down, falling around 18 percent to $14.24. Barclays downgraded Hertz from Equal-Weight to Underweight.