Tesla gets a boost from Budweiser

Anheuser-Busch reserves 40 Tesla all-electric Semi trucks

Tesla gets a boost from Bud. See Stockwinners.com
Tesla gets a boost from Bud.

Anheuser-Busch (BUD), parent company of Budweiser, has reserved 40 of Tesla’s (TSLA) all-electric Semi trucks and plans to use the trucks for shipments to wholesalers within 200 miles of its brewery locations, The Wall Street Journal reports.

Anheuser-Busch hasn’t yet decided whether to buy the Semi vehicles outright or lease them, James Sembrot, the company’s senior director of logistics strategy, says. The Semi will be available in 2019.

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Tesla gets a boost from Budweiser – Stockwinners.com

The vehicles would be deployed among the brewer’s so-called dedicated fleets of about 750 trucks, which bear the company’s branding but are owned and managed by outside carriers.

Anheuser-Busch hasn’t yet decided whether to buy the vehicles outright or lease them, said James Sembrot, the company’s senior director of logistics strategy. It could also ask one of its dedicated carriers to buy or lease the trucks. The Semi won’t be available until 2019.

“We put the reservations down so we can prioritize our place in line,” Mr. Sembrot said. “We don’t know who the carrier is going to be in two to three years when these things are actually produced.”

He declined to discuss the cost for the reservation, which he said was placed before the Semi’s debut in California last month. Tesla had set deposits at $5,000 at the time of the November announcement but has since raised the amount to $20,000. Tesla expects the trucks to list for $150,000 to $200,000; a new diesel-powered heavy-duty truck can sell for $150,000.

OTHER  ORDERS

According to a Bloomberg report, the Michigan-based grocery chain Meijer, Inc. placed deposits on four of the new trucks at $5,000 apiece.

Meijer fleet manager Dan Scherer told Bloomberg’s Dana Hull: “Electricity is cheaper fuel than diesel, and you are less dependent on the spot-pricing of fossil fuel.”

Wal-Mart issued the following statement: “We have a long history of testing new technology – including alternative-fuel trucks – and we are excited to be among the first to pilot this new heavy-duty electric vehicle. We believe we can learn how this technology performs within our supply chain, as well as how it could help us meet some of our long-term sustainability goals, such as lowering emissions.”

Wal-Mart says has pre-ordered 10 units of Tesla’s new heavy-duty electric vehicle for Wal-Mart Canada.

J.B. Hunt Transport Services (JBHT) announced that it placed a reservation to purchase multiple Tesla (TSLA) Semi tractors to be manufactured by Tesla.

J.B. Hunt plans to deploy electric tractors to its Intermodal and Dedicated Contract Services divisions to support operations on the West Coast.

TSLA shares are up $3.04 to $316.10.


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Seattle Genetics presents breast cancer data

Seattle Genetics presents updated Phase 1 data for SGN-LIV1A 

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Seattle Genetics presents updated Phase 1 data for SGN-LIV1A

Seattle Genetics (SGEN) announced updated data from an ongoing phase 1 clinical trial evaluating ladiratuzumab vedotin in patients with metastatic triple negative breast cancer at the 2017 San Antonio Breast Cancer Symposium, taking place December 5-9, 2017.

Ladiratuzumab vedotin is an investigational antibody-drug conjugate designed to deliver a potent and clinically validated cell-killing agent, monomethyl auristatin E, to cancer cells which express the protein LIV-1.

LIV-1 is expressed on multiple solid tumors including breast, prostate, melanoma, ovarian, uterine, and cervical cancers.

A total of 81 patients with LIV-1-expressing metastatic breast cancer were treated with ladiratuzumab vedotin monotherapy given every three weeks.

Patients enrolled in the study had received a median of four prior systemic metastatic therapies. Of these patients, 63 were diagnosed with TNBC and 18 had hormone receptor-positive / human epidermal growth factor receptor 2-negative breast cancer.

At the completion of dose escalation at doses ranging from 0.5 to 2.8 milligrams per kilogram, TNBC expansion cohorts were opened at 2.0 and 2.5 mg/kg to further evaluate safety and antitumor activity of ladiratuzumab vedotin in metastatic TNBC patients.

Based on efficacy and safety, the recommended dose is 2.5 mg/kg with a maximum dose of 200 mg per cycle.

Key findings in this heavily pre-treated patient population were presented by Dr. Jennifer Specht, Seattle Cancer Care Alliance and include: Among the 60 efficacy-evaluable patients with metastatic TNBC, the objective response rate (ORR) was 25 percent, representing all partial responses.

The clinical benefit rate was 28 percent. CBR is defined as patients achieving complete response or PR of any duration, plus patients achieving stable disease lasting at least 24 weeks. Of the 17 efficacy-evaluable patients treated at the recommended dose, 29 percent achieved an objective response, and the CBR was 29 percent.

The median progression-free survival and median duration of response for patients treated across all dose levels were 11 weeks and 13.3 weeks, respectively. In 19 patients treated at the recommended dose, the median PFS was 12.1 weeks, and the median DOR was 17.4 weeks.

SGEN closed at $56.75.


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International rig counts decline

Baker Hughes reports November international rig count 942, down 9 rigs

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Oil Rig counts decline

Baker Hughes (BHGE), a GE company, announced that the Baker Hughes international rig count for November 2017 was 942, down 9 from the 951 counted in October 2017, and up 17 from the 925 counted in November 2016.

The international offshore rig count for November 2017 was 183, down 21 from the 204 counted in October 2017, and down 28 from the 211 counted in November 2016.

The average US rig count for November 2017 was 911, down 11 from the 922 counted in October 2017, and up 331 from the 580 counted in November 2016.

The average Canadian rig count for November 2017 was 204, unchanged from the 204 counted in October 2017, and up 31 from the 173 counted in November 2016.

The worldwide rig count for November 2017 was 2,057, down 20 from the 2,077 counted in October 2017, and up 379 from the 1,678 counted in November 2016.

WTI Crude is up 6 cents to $56.02 per barrel. Brent crude is up 27 cents to $61.49 per barrel. USO closed at $11.20.


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Sage Therapeutics soars on its depression drug

Sage Therapeutics reports ‘positive’ results from Phase 2 trial of SAGE-217

Sage Therapeutics announces results from Sage-217

Sage Therapeutics (SAGE) announced positive top-line results from the Phase 2, double-blind, placebo-controlled clinical trial of SAGE-217 in the treatment of 89 adult patients with moderate to severe major depressive disorder.

In the trial, treatment for 14 days with SAGE-217 was associated with a statistically significant mean reduction in the Hamilton Rating Scale for Depression 17-Item total score from baseline to Day 15 (the time of the primary endpoint) of 17.6 points for SAGE-217, compared to 10.7 for placebo (less than 0.0001).

Statistically significant improvements were observed in the HAM-D compared to placebo by the morning following the first dose through Week 4 and the effects of SAGE-217 remained numerically greater than placebo through the end of follow-up at Week 6. At Day 15, 64 percent of patients who received SAGE-217 achieved remission, defined as a score of 7 or less on the HAM-D scale, compared with 23 percent of patients who received placebo (p=0.0005).

Other secondary endpoints were all similarly highly significant at Day 15 (less than or equal to 0.002). SAGE-217 was generally well-tolerated with no serious or severe adverse events; the most common adverse events in the SAGE-217 group were headache, dizziness, nausea, and somnolence.

A low rate of discontinuations due to AEs was reported; overall reports of AEs were similar between drug (53%) and placebo (46%), with a safety profile consistent with that seen in earlier trials. SAGE-217 was granted Fast Track Designation by the U.S. FDA in May 2017.

PRICE ACTION

SAGE has a 52-weeks trading range of $44.55 – $100.50. Shares closed at $91.90. It last traded at $145 in pre-market trading.


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