Crude Oil Futures Settle Sharply Higher

Yet Another Court Rejects Trump's Desperate Attempt to Block Jan. 6 Committee from Seeing White House Records

Donald Trump really, really doesn’t want the committee investigating Jan. 6 to get ahold of White House records.

He might not be able to do anything about it.

The D.C. Circuit Court of Appeals on Thursday denied his latest attempt to block the committee from obtaining the material. Trump has been arguing that he can conceal the documents under executive privilege, but it’s typically up to the current president whether to honor such a claim. In October, and Biden officially rejected Trump’s attempts to make it.

“On the record before us, former President Trump has provided no basis for this court to override President Biden’s judgment and the agreement and accommodations worked out between the Political Branches over these documents,” the court wrote in its 3-0 decision on Thursday.

Federal Judge Tanya Chutkan initially rejected Trump’s request to block the National Archives from sending the documents to the committee last month, prompting his appeal to the D.C. Circuit Court. Trump will now have two weeks to petition the Supreme Court. Otherwise, the National Archives will fork over a trove of sensitive material the committee hopes will shed light on Trump’s efforts to overturn the results of the 2020 election, and the extent to which he may be responsible for the Jan. 6 attack on the Capitol.

Photronics Shares Gains On Profit Growth In Q4

Photronics, Inc. (PLAB) shares are rising more than 17 percent on Wednesday morning trade after the company reported an increase in fourth-quarter earnings that beat estimates. Further, the company provided guidance for the first quarter.

The fourth-quarter earnings grew to $19.8 million or $0.33 per share, from $6.5 million or $0.10 per share last year. Analysts were looking for profit of $0.25 per share.
Revenue increased 21 percent to $181.3 million from $149.29 million.

Looking ahead to the first quarter, 2022, the manufacturer of integrated circuit and flat panel display photomasks said it expects net income to be $0.27 – $0.34 per share on revenue to be between $178 to $186 million.

Currently, shares are at $16.72, up 17.58 percent from the previous close of $14.22 on a volume of 1,169,212. For the 52-week period, the shares have traded in a range of $10.10-$16.84 on average volume of 327,877.

EU Approves Pfizer’s Cibinqo To Treat Moderate-to-Severe Atopic Dermatitis

The European Commission has approved the 100 mg and 200 mg doses of Cibinqo (abrocitinib), an oral, once-daily, Janus kinase 1 inhibitor, for the treatment of moderate-to-severe atopic dermatitis in adults who are candidates for systemic therapy, Pfizer Inc. (PFE) said in a statement on Friday.

In addition, a 50 mg dose was approved to treat moderate-to-severe atopic dermatitis specifically in patients with moderate and severe renal impairment (kidney failure) or certain patients receiving treatment with inhibitors of cytochrome P450 (CYP) 2C19.

The approval was based on the results of five clinical studies of more than 2,800 patients including four Phase 3 studies and an ongoing long-term open label extension study. Cibinqo demonstrated meaningful improvements across measures of symptom relief and disease control versus placebo.

Cibinqo received marketing authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA), the Japanese Ministry of Health, Labour and Welfare and Korea’s Ministry of Food and Drug Safety earlier this year.

Atopic dermatitis is a chronic inflammatory skin disease characterized by dry skin, intense itching and recurrent relapsing eczematous lesions with a heterogeneous clinical presentation.

Former Senator Bob Dole, longtime Republican leader, dies at 98

Bob Dole, a former U.S. Senator and Republican presidential candidate, died Sunday morning at 98, the Elizabeth Dole Foundation said.

Dole had been diagnosed with stage four lung cancer earlier this year.

Dole served as a U.S. senator for Kansas for nearly 30 years.

This is breaking news. Please check back for updates.

‘PSBs restructured MSME loans worth ₹58,500 cr.’

‘They rejigged ₹60,000-cr. retail loans’

Public sector banks (PSBs) effected restructuring of 9.8 lakh accounts of micro, small and medium enterprises, due to the impact of the COVID-19 pandemic, amounting to ₹58,524 crore as of November 26, the government said in Parliament on Monday.

About 8.5 lakh accounts of individual borrowers, accounting for ₹60,000 crore have also been restructured.

Measures taken by the Centre and the Reserve Bank to aid retail and micro, small and medium enterprises (MSME) borrowers in the wake of the pandemic included a COVID-19 regulatory package granting moratorium of six months on payments of all instalments of term loans and deferment of recovery of interest on working capital from March 1 to August 31, 2020.

Under the Emergency Credit Line Guarantee Scheme, banks and non-banking financial firms had sanctioned loans amounting to ₹2.97 lakh crore as on 26 November, as per the reply.

Tecnoglass Slides On Potential Litigation After Reports Of Connection To Drug Cartel

Tecnoglass Inc. (TGLS) shares are sliding more than 41 percent on Thursday morning, probably on reports that it had a connection to a drug cartel. Further, law firms are planning to initiate potential securities law violations.

Currently, shares are trading at $19.59, down 41.87 percent from the previous close of $33.70 on a volume of 4,161,713. For the 52-week period, the shares have traded in a range of $5.52-$34.90 on average volume of 316,673.

Crude Oil Futures Settle Sharply Higher

Crude oil futures settled sharply higher on Monday as Saudi Arabia’s Aramco hiked prices of its crude exported to Asia and the U.S. and amid easing concerns about Omicron.

Fading prospects of a rise in Iranian oil exports following the failure of U.S.-Iranian talks on saving the 2015 Iran nuclear deal also contributed to the spike in crude oil prices.

West Texas Intermediate Crude oil futures for January settled higher by $3.23 or about 4.9% at $69.49 a barrel.

Brent crude futures were up $3.65 or 5.3% at $73.53 a barrel a little while ago.

Saudi Arabia raised official selling prices for all crude grades sold to Asia and the U.S. by up to $0.80 from the previous month. The move suggests that Saudi is very optimistic about demand despite the spread of the Omicron variant of the coronavirus.

Meanwhile, early indications of the severity of the Omicron Covid-19 variant are “a bit encouraging,” top U.S. pandemic advisor Anthony Fauci said Sunday, adding that it was too early to draw definitive conclusions and more information was still needed.

South Africa reported that Omicron is not leading to higher hospitalization rates despite a jump in active cases.