Gary Cohn at the World Economic Forum in Davos, January 2015
In a private meeting with lawmakers yesterday (April 5), Trump’s economic advisor Gary Cohn said he supported a policy that could radically reshape Wall Street.
You see, the former Goldman Sachs Group Inc. (NYSE: GS) exec now supports a re-imposition of the Glass-Steagall Act – an idea that the U.S.’ two main political parties support — but that the country’s top banks loathe.
This is a change of heart for Cohn. In February, the investment banker voiced his disdain for bank regulation measures when he said it was time to “attack the red tape of Dodd-Frank” in a FOX Business interview. Dodd-Frank is a less onerous regulation than Glass-Steagall. Bank stocks soared as investors considered the prospect of billions of dollars flowing back into their pockets. In fact, Goldman Sachs saw a jump of 1.29%.
where to invest: Avanir Pharmaceuticals Inc(AVNR)
Advisors’ Opinion:
- [By Paul Ausick]
Stocks on the move: Galena Biopharma Inc. (NASDAQ: GALE) is down 15.4% at $1.93 after pricing a secondary offering of 17.5 million units at $2.00. Safeway Inc. (NYSE: SWY) is up 6.1% at $28.21, after an analysts upgrade which sent shares to a new 52-week high of $28.88 earlier. Avanir Pharmaceuticals Inc. (NASDAQ: AVNR) is down 18.2% at $4.08.
where to invest: Catalyst Pharmaceuticals, Inc.(CPRX)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Catalyst Pharmaceuticals Inc (NASDAQ: CPRX) got a boost, shooting up 32 percent to $1.54 after the company reported positive data from investigator-sponsored trial of Firdapse.
where to invest: RadiSys Corporation(RSYS)
Advisors’ Opinion:
- [By Lisa Levin]
RadiSys Corporation (NASDAQ: RSYS) was down, falling around 18 percent to $2.95 after the company lowered its sales forecast for the second quarter. The company now expects Q2 sales of $35 million, versus earlier outlook of $41 million to $47 million.
- [By Lisa Levin]
RadiSys Corporation (NASDAQ: RSYS) was down, falling around 18 percent to $2.97 after the company lowered its sales forecast for the second quarter. The company now expects Q2 sales of $35 million, versus earlier outlook of $41 million to $47 million.
where to invest: AVEO Pharmaceuticals, Inc.(AVEO)
Advisors’ Opinion:
- [By Lisa Levin]
AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) shares shot up 69 percent to $1.23 after the company reported positive CHMP opinion for tivozanib for the treatment of advanced renal cell carcinoma.
- [By Money Morning News Team]
Hot penny stockscan bring investors double-digit returns in a short amount of time. For instance, AVEO Pharmaceuticals Inc. (Nasdaq: AVEO) surged 332%, from $0.73 to $3.15, from June 22 to July 10. That means any investor who bought in on June 22 more than quadrupled their initial investment in less than three weeks.
