Amneal Pharmaceuticals Inc (NASDAQ:AMRX) shares rose 5.7% on Friday after UBS initiated coverage with a Buy rating and a $19 price target, citing what it sees as an attractive entry point following a recent pullback.
UBS said the stock’s roughly 14% decline over the past two months presents an opportunity in the specialty pharmaceuticals group, where it views Amneal as having a stronger growth profile relative to peers.
Airline stocks rallied on Friday after oil prices eased following Iran’s announcement that the Strait of Hormuz would remain open.
Earlier this week, Iran’s foreign minister said the Strait of Hormuz is “completely open” to commercial vessels, signalling a de-escalation in tensions that had previously raised fears of disruptions to global oil flows through the strategic waterway.
Netflix Inc (NASDAQ:NFLX, XETRA:NFC) shares dropped about 10% on Friday after analysts said solid results were overshadowed by weaker-than-expected near-term guidance, limited full-year upgrades and Reed Hastings’ planned board exit, even as longer-term growth prospects remain intact.
Investors were disappointed with the company’s second-quarter revenue outlook and a lack of upward revision to full-year targets, despite strong underlying engagement trends and continued momentum in its advertising business.
Pensana PLC (LSE:PRE, OTC:PNSPF) has received the first US$15 million tranche of a US$165 million strategic investment from Cascade Natural Resources, giving the rare earths developer fresh capital to push ahead with its US mine-to-magnet strategy and the Longonjo project in Angola.
The funding package includes a US$15 million subscription into Pensana itself, with Cascade taking 13,992,537 new shares at 80p each for a 3.8% stake.
A stronger-than-expected second half and a fully settled procurement matter push full-year earnings around 10% ahead of consensus.
Shares in Optima Health PLC (AIM:OPT, OTC:OHLTF, FRA:J3N) rose 5% to 189p on Friday after the occupational health company reported full-year adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) around 10% ahead of market expectations, prompting Panmure Liberum to flag a proforma valuation case of 250p per share.
Shares in Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) rose 17% to 0.021p after the company reported encouraging progress on the installation of a new flotation plant at its Zulu Lithium and Tantalum Project in Zimbabwe.
Work on the Xinhai Flotation Plant, supplied by Chinese processing equipment specialist Xinhai Technology Processing, has centred on site-based fabrication of overflow launders, walkways, interconnecting pipework between flotation cells, and large-diameter air supply piping.