South Korea Exports Rebound in May at Faster Pace Than Expected

South Korea’s exports rebounded in May, topping expectations, following a surprise contraction the previous month. The country releases its trade data earlier than most other major economies, making it a bellwether of global demand.

Key PointsExports rose 13.5 percent in May from a year earlier, higher than than economists’ forecast of a 10.5 percent increase, according to a statement from the trade ministry Imports increased 12.6 percent from the previous year, leaving a trade surplus of $6.73 billion Big Picture

The strong trade data is a bright spot for the economy, which President Moon Jae-in’s economy adviser warned may be entering a slump. Bank of Korea Governor Lee Ju-yeol has also expressed concern, saying in May that while he sees the economy on track for 3 percent growth, uncertainties are high.

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Lee Ju-yeol

Photographer: SeongJoon Cho/Bloomberg

South Korea’s exports are dominated by semiconductors, and that leaves the nation vulnerable to a slowdown of the technology cycle. In addition, despite Moon’s pledge to increase overall household income, job creation is weak and income inequality is getting worse.

The DetailsConsidering differences in working days, per-day exports rose 10.8 percent in May from a year earlierExport value was $51 billion, the fifth-highest monthly amount on record, according to the ministry LISTEN TO ARTICLE 1:25 Share Share on Facebook Post to Twitter Send as an Email Print

Buffett’s Nevada Utility Agrees to Buy 1 Gigawatt of Solar Power

Berkshire Hathaway Energy’s NV Energy Inc. utility agreed to buy 1 gigawatt of solar power from six new projects in the state — enough to power more than 600,000 homes.

NV Energy plans to file a request seeking regulatory approval for the 25-year power-purchase agreements, the company said in a statement Thursday.

The projects are expected to be operational by the end of 2021 and would increase the utility’s renewable energy capacity by 47 percent, Mark Severts, an NV Energy spokesman, said in an email. Three include battery storage systems, totaling 100 megawatts.

The six projects are:

A 101-megawatt project near Battle Mountain, Nevada, being developed by Cypress Creek Renewables LLC and featuring 25 megawatts of battery storageA 200-megawatt project east of Reno being developed by NextEra that would integrate 50 megawatts of battery storageA 100-megawatt project north of Reno being developed by NextEra that would integrate 25 megawatts of battery storageA 300-megawatt project north of Las Vegas being developed by 8minutenergy Renewables LLCA 250-megawatt project south of Boulder City being developed by a Sempra Energy unitA 50-megawatt solar project south of Boulder City being developed by Techren Solar LLC LISTEN TO ARTICLE 1:23 Share Share on Facebook Post to Twitter Send as an Email Print

Concord Medical Services (CCM) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Concord Medical Services (NYSE:CCM) from a sell rating to a hold rating in a report released on Monday morning.

According to Zacks, “Concord Medical Services Holdings Limited operates a large network of radiotherapy and diagnostic imaging centers in China. Most of the centers in their network are established through long-term lease and management services arrangements entered into with their hospital partners. Under these arrangements, Concord Medical receives a contracted percentage of each center’s revenue net of specified operating expenses. Each center is located on the premises of their hospital partners and is typically equipped with a primary unit of advanced radiotherapy or diagnostic imaging equipment, such as a linear accelerator, head gamma knife system, body gamma knife system, PET-CT scanner or MRI scanner. “

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Separately, ValuEngine raised Concord Medical Services from a sell rating to a hold rating in a research report on Wednesday, May 2nd.

Shares of NYSE:CCM opened at $4.14 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. Concord Medical Services has a 52 week low of $2.46 and a 52 week high of $4.29.

Concord Medical Services Company Profile

Concord Medical Services Holdings Limited, through its subsidiaries, operates a network of radiotherapy and diagnostic imaging centers in the People's Republic of China. The company's services comprise linear accelerators external beam radiotherapy, gamma knife radiosurgery, head gamma knife systems, body gamma knife systems, CyberKnife robotic radiosurgery system, proton beam therapy systems, and diagnostic imaging services.

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Rhythm Pharmaceuticals (RYTM) Sets New 1-Year High and Low at $34.33

Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $34.33 and last traded at $32.72, with a volume of 7683 shares changing hands. The stock had previously closed at $32.46.

A number of analysts have issued reports on RYTM shares. BidaskClub downgraded shares of Rhythm Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, February 4th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, February 26th. Zacks Investment Research downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, April 24th. Finally, ValuEngine raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.00.

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The firm has a market cap of $841.32 million and a PE ratio of -11.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Monday, May 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.15). equities analysts predict that Rhythm Pharmaceuticals will post -1.84 EPS for the current year.

In other news, major shareholder Orbimed Advisors Llc sold 131,636 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $30.88, for a total transaction of $4,064,919.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $5,866,000. Opaleye Management Inc. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $1,113,000. Perceptive Advisors LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $21,654,000. ArrowMark Colorado Holdings LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $13,487,000. Finally, Artal Group S.A. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $1,453,000. 88.24% of the stock is owned by institutional investors.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of peptide therapeutics for the treatment of rare genetic disorders of obesity in the United States. Its peptide candidates include Setmelanotide, a melanocortin-4 receptor agonist, which is in Phase III clinical trial to treat POMC and leptin receptor deficiency obesity; and Phase II clinical trial for Bardet-Biedl and AlstrŠ×Üm syndrome, POMC heterozygous deficiency obesity, and POMC epigenetic disorders.

River & Mercantile Asset Management LLP Decreases Position in eBay (EBAY)

River & Mercantile Asset Management LLP trimmed its position in eBay (NASDAQ:EBAY) by 4.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,640 shares of the e-commerce company’s stock after selling 5,500 shares during the period. River & Mercantile Asset Management LLP’s holdings in eBay were worth $4,976,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. acquired a new position in eBay in the fourth quarter worth about $107,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in eBay by 506.3% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,910 shares of the e-commerce company’s stock worth $117,000 after purchasing an additional 2,430 shares in the last quarter. Massey Quick Simon & CO. LLC grew its stake in eBay by 100.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 2,958 shares of the e-commerce company’s stock worth $119,000 after purchasing an additional 1,479 shares in the last quarter. Motco acquired a new position in eBay in the first quarter worth about $129,000. Finally, Financial Advocates Investment Management acquired a new position in eBay in the fourth quarter worth about $148,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

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In related news, Director Robert Holmes Swan sold 41,444 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of $42.52, for a total transaction of $1,762,198.88. Following the sale, the director now owns 304,529 shares of the company’s stock, valued at $12,948,573.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stephen Fisher sold 12,408 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $37.47, for a total value of $464,927.76. Following the sale, the senior vice president now directly owns 87,049 shares in the company, valued at approximately $3,261,726.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,558 shares of company stock worth $7,242,024. 6.78% of the stock is owned by corporate insiders.

A number of research firms recently commented on EBAY. Goldman Sachs Group set a $49.00 price target on eBay and gave the stock a “buy” rating in a research note on Thursday, February 1st. Atlantic Securities set a $45.00 target price on eBay and gave the company a “neutral” rating in a research note on Thursday, February 1st. Macquarie set a $46.00 target price on eBay and gave the company a “neutral” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. set a $45.00 target price on eBay and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, Robert W. Baird set a $52.00 target price on eBay and gave the company a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.13.

Shares of NASDAQ EBAY opened at $37.72 on Friday. eBay has a 12-month low of $33.89 and a 12-month high of $46.99. The company has a market cap of $37.62 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.63 and a quick ratio of 2.63.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, April 25th. The e-commerce company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. eBay had a positive return on equity of 18.06% and a negative net margin of 16.56%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts predict that eBay will post 1.84 earnings per share for the current year.

eBay Company Profile

eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)