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What you need to know on Wall Street today http://ift.tt/2nTzLyr
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Samumed is a $12 billion private biotech startup you've probably never heard of. The San Diego-based company has attracted $300 million in funding and a heady valuation thanks to a pipeline of what could be revolutionary treatments to regenerate hair, skin, bones, and joints. If that seems to be too good to be true, the company is well aware. Business Insider sat down with Kevin Johnson, the new CEO of Starbucks. Here are some highlights:
In related news, Panera is reportedly looking to sell itself, and Starbucks is one potential buyer. Elsewhere in deal news, Cloudera, a record-breaking startup, is finally getting ready for its IPO. The company that sells cars from a giant vending machine has filed for an IPO. And the groundbreaking app turning millennials into stock traders is now said to be worth more than $1 billion. In finance news, Morgan Stanley has handed a Wall Street legend a new role as the head of a newly created council focused on quantitative research. A "sleeping beast" in the markets is about to be unleashed, according to Societe Generale's fixed income team led by Vincent Chaigneau. And regional banks will be the biggest winners if Trump rolls back regulations, according to Blackrock. In autos, the so-called Big Three automakers reported March sales that were weaker than expected. Tesla is now bigger than Ford. And Elon Musk took a dig at short sellers on a big day for Tesla's stock. "Stormy weather in Shortville ..." he said in a Tweet. Robots and automation are going white collar — but they're not here to steal your job just yet. Lastly, here are the best whiskeys to stash at the office. Here are the top Wall Street headlines from the past 24 hours. Trump's team is all over the place on trade — but one message is clear - President Donald Trump's message on trade — bad deals! — has been unusually steady. But this hasn't prevented his closest advisers from differing quite substantially on trade. The oil market is finally starting to make sense - Companies that provide oil and gas drilling services had to lower prices for their clients during the most recent oil crash. The Trump trade slammed into a wall in March - The Trump trade appears to have run out of steam. Mylan is recalling EpiPens in the US - The voluntary recall comes just 10 days after Mylan issued a recall of more than 80,000 devices from around the world. A Le Pen win in the French election would place a 'sword of Damocles' above the eurozone - The French election is the major upcoming political risk in Europe. The rand is tumbling after S&P cuts South Africa to junk - The S&P cut South Africa to junk. JPMORGAN: The "Trumpcare" failure may actually be a good thing for tax reform - After the failure of House GOP leaders and the White House to pass their proposed healthcare overhaul bill on March 24, stocks sold off on what many analysts assumed was fear that President Donald Trump's promised tax cut was not coming. We took a ride in the $100,000 electric car trying to take on Tesla — here’s what it was like - It may not be a Tesla, but Lucid Motors’ all-electric car was built by the same minds behind the Model S. See Also:
SEE ALSO: The 27 most important finance books ever written Business via Business Insider http://ift.tt/eKERsB April 3, 2017 at 05:45AM
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