The specialist in medical delivery technology, Catalent (CTLT) has been inching higher steadily, as those who are aware about the company’s important role in the availability of a COVID-19 cure have been buying the stock.

While the stock price of better famed peer Emergent BioSolutions (EBS) with three times more followers on Seeking Alpha has also being trending higher, its path has been somewhat more volatile. One of the factors that can explain this volatility is strong following by the retail trading crowd tracking COVID-19 vaccine news.

Figure 1: Comparing stock performance for Catalent and Emergent

ChartData by YCharts

This has not been the case with Catalent despite the company inking three manufacturing agreements with COVID-19 vaccine developers, including big names like Johnson & Johnson’s (NYSE:JNJ), Moderna (NASDAQ:MRNA) and AstraZeneca (NASDAQ:AZN), to provide fill-finish capabilities.

Fill-finish manufacturing

Fill-finish is a lesser-known but crucial step between development of vaccine by biotechs and its availability for clinical trials in testing centers or, at a later stage, on a more widespread basis in hospitals and points of care for administration to patients. Fill-finishing basically involves putting the vaccines in vials or glass containers under strict hygiene or sterile conditions to prevent contamination.

Biotech companies resort to the likes of Catalent for this critical process, as any contamination would adversely impact efficacy of the vaccine and result in significant economic losses for them.

Now, for investors, an important question is whether Catalent will be able to honor its manufacturing contracts with these big names.

The answer is yes, for both drug substance manufacturing and drug product manufacturing capabilities both in the U.S. and Europe. Facilities include Bloomington for Johnson & Johnson and Moderna, as well as Anagni (Italy) for AstraZeneca, but there are other locations too.

Also, the fact that the company

As you know, once a month, we look at 29 currencies in search of the evidence of popular delusions and the madness of crowds. The idea is to find anomalies and bullish or bearish divergences that will break the trend, not prolong it. It is a painful exercise, but also highly rewarding.

In order to find the most overbought and oversold currencies, I conduct five econometric studies: over-extension analysis, secular performance analysis, oil correlation review, economic divergence analysis and effective exchange rate study. Additionally, I look at traders’ positioning to understand the psychological state of the market.

Analyzed currency pairs: AUD/USD, EUR/USD, GPB/USD, NZD/USD, USD/CAD, USD/CHF and USD/JPY.

Relevant ETFs (most popular): CROC, OTC:ERO, EUFX, FXA, FXB, FXC, FXE, FXF, FXY and OTC:GBB.

Macro Forces

Before revealing the results, let me first say a few words about the current global market environment. This is important because global macro conditions cannot be numerically measured and cannot be directly factored into econometrical models. They must be studied in qualitative terms. In my opinion, the most important theme impacting global foreign exchange market right now is the spread of coronavirus and the possible economic damage that it may cause.

See below the outlook on the world’s major economies (China, the Eurozone and the United States) for two scenarios: one with and one without a second wave of the virus.

Source: ABN AMRO; Baseline scenario: second wave less severe, no renewed lockdowns; Negative scenario: a second wave of infections and a second lockdown.

Although the risks of a renewed lockdown are still substantial, the baseline scenario assumes that the virus remains reasonably under control. Local outbreaks will continue (as at present) and fresh measures will be taken where necessary, but no national lockdowns

Launching an innovative crowdfunding platform giving individuals the ability to be part of Nitya’s deals.

HOUSTON, Oct. 10, 2020 /PRNewswire/ — Nitya Capital LLC announces the release of a revolutionary crowdfunding platform, providing investors the power to attain interest in Nitya’s deals, never before open to the public.

Real Estate Investment Redefined
Real Estate Investment Redefined

Invest NOW in Real Estate Crowdfunding platform WITHOUT ANY FEES.

Housed within Nitya’s website, the crowdfunding platform provides a full-scale range of wealth fund options across asset classes, including multifamily and office properties. The crowdfunding platform is uniquely positioned to provide investors with a better offer by eliminating additional fees, typically passed along to investors using third-party crowdfunding models.

“This is a game changer for a lot of investors. We’ve built a platform that enhances the way people can invest in real estate by taking away the extra fees and giving them access to our ventures,” said Swapnil Agarwal, CEO and founder, Nitya Capital. “We’re making the deals extremely competitive and opening them up to the public, allowing new investors to be part of Nitya’s movement.”

Nitya Capital’s historical performance includes an average deal of 2.7 years with a realized average net IRR of 21%. Nitya has approximately $2.5 billion in assets under management. Opportunities are open to accredited investors and start at $25,000.

“We’ve found there is a significant market for people looking to diversify their portfolio, as an alternative to typical stock and bond investments,” said Mehul Chavada, Head of Investments and Business Development, Nitya Capital. “We’ve been able to beat investor expectations in past deals. Since we used to only work with known investors, this kind of public opportunity has never been on the table before.”

For more on the crowdfunding platform, go to https://nityacapital.com/deals/.

About Nitya Capital
Nitya Capital LLC

No one likes layoffs. People losing their job due to something other than their own performance creates emotional and economic havoc at homes and in communities. Yet the current environment has plunged many businesses into this exact scenario, and so the pragmatic question is how to deal with this? For the largest U.S. airlines, this creates an opportunity to rethink their long-term business model as they watch the lower-cost carriers in the U.S. recover more quickly and adapt more readily. Here is a five point roadmap they should consider:

Go Back to a Zero-Based Budget

Budgets are necessary for any company though they are hardly the thing most employees enjoy. Most budget processes require departments to justify changes in spending from one year to the next, effectively sanctioning that their prior period spend was reasonable and provided a good return to the company. A zero-based budget requires departments to justify every dollar to be spent from dollar one. This makes no presumptions about what was spent the prior period. This process, which takes time, dedication, and grit, is considered financial proctology to many people but it reveals an amazing amount about how the company spends money. In almost every case, the process shows redundancies, spending on non essential items, paying for projects that most thought were sidelined, and more.

Letting people go hurts, and so companies owe it to those people and the ones remaining that the company is looking at how it spends all of its money and is not asking employees to subsidize waste in other areas. A zero-based budget process will help this and bring transparency and new efficiencies to airlines as they deal with many more months of uncertain revenue.

Re-think the Fleet

Structural changes

“In today’s digital age, agents and insurers are looking to digital technology to enable greater collaboration, increase efficiencies, and create more value for the distribution channel,” said Brian Wood, vice president of Data Products Group, IVANS Insurance Solutions. “IVANS Markets aligns our agency members with current and new markets, enabling them to increase the value of their books of business through expanding market opportunities with both appointed and prospective insurers.”

The IVANS logos are trademarks of Applied Systems, Inc., registered in the U.S.

IVANS, a division of Applied Systems, is the insurance industry’s exchange connecting insurers, MGAs, agencies, and the insured. IVANS cloud-based software automates the distribution and servicing of insurance products. For more than 35 years, IVANS innovation and expertise has connected 32,000 independent insurance agencies and 400 insurer and MGA partners to enable millions of people to safeguard and protect what matters most in people’s lives.

Founded in 1979, The ISU Insurance Agency Network is committed to helping select Independent Agents retain their independence and remain in business for themselves but not by themselves. ISU’s 230 independently owned and operated Agencies employ more than 3500 professionals who produce over $6 billion in premiums representing more than 300 insurance companies nationwide.  The exceptionally high quality of ISU Member Agencies and our commitment to excellence in all we do has earned the ISU brand the reputation as the Better Source of Better Business® throughout the insurance industry. ISU Members and their clients benefit from ISU’s Unique Competitive Advantage® – the strengths and resources of a national organization combined with local ownership and independence.

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