Stock Alert: Myovant Sciences Trading Up 18%

U.S. Supreme Court upholds Puerto Rico financial oversight board appointments

WASHINGTON, June 1 (Reuters) – The U.S. Supreme Court on Monday upheld appointments to Puerto Rico’s federally created financial oversight board that had been challenged by creditors in a ruling that avoids disruption to the panel’s restructuring of about $120 billion of the bankrupt U.S. territory’s debt.

The justices, in a 9-0 decision, concluded that the 2016 appointment of seven board members did not violate the U.S. Constitution’s so-called appointments clause as the challengers had argued. (Reporting by Lawrence Hurley; Editing by Will Dunham)

Russia's Putin says vote on changes allowing him to extend his rule will take place on July 1

MOSCOW (REUTERS) – Russian President Vladimir Putin on Monday (June 1) said a nationwide vote on constitutional reforms that could extend his rule in the Kremlin would be held on July 1, after the April 22 vote was postponed due to the new coronavirus.

The changes, already approved by parliament and Russia’s Constitutional Court, would reset Mr Putin’s presidential term tally to zero, allowing him to serve two more back-to-back six year terms until 2036 if reelected.

Asia Pacific countries ease lockdowns with caution

On Monday, several countries relaxed their lockdowns – with some allowing health clubs and zoos to reopen, while others are letting people go to work for the first time in months.

For the most part, COVID-19 cases in eastern Asia have been on the decline. And on Monday, several countries relaxed their lockdowns – with some allowing health clubs and zoos to reopen, while others are letting people go to work for the first time in months.

Al Jazeera’s Scott Heidler reports from Bangkok.

US retailers slammed over COVID-19 operations

Internet giant Amazon and supermarket chain owner Kroger among those criticised for praising their staff as ‘heroes’ for working during the coronavirus pandemic.

Retailers in the United States have been criticised for praising their staff as “heroes” for working during the coronavirus pandemic – while at the same time ending a system in which they receive extra pay for dangerous conditions.

Unions are calling on companies such as internet giant Amazon and supermarket chain owner Kroger to reconsider.

Al Jazeera’s Shihab Rattansi reports.

Brazil cannot rely on foreign funding in short term – cenbank chief

BRASILIA, June 1 (Reuters) – Brazil cannot rely on foreign financing in the short term, central bank president Roberto Campos Neto said on Monday, citing the recent record capital outflow as the coronavirus crisis and investor jitters intensified.

In testimony to lawmakers, Campos Neto also said he expects the economic recovery to begin in the third quarter although some parts of the services sector will take longer, and warned that emergency government spending must not be allowed to become permanent.

Stocks slide as Wall Street grapples with protests and China tensions

US stocks slid Monday as Wall Street grappled with mounting unrest over police brutality and continued tensions with China.

The Dow Jones industrial average dropped as much as 140.82 points, or 0.5 percent, to 25,242.29 at the open, while the S&P 500 fell as much as 0.4 percent and the tech-heavy Nasdaq lost as much as about 0.3 percent.

The tumble followed a weekend of violent protests across the nation sparked by the police killing of George Floyd in Minneapolis. It also came as China promised retaliation against President Trump’s move to start ending the US’s special trade relationship with Hong Kong.

“Uncertainty over the reopening of the US economy from the coronavirus-driven lockdowns, coupled with trade tensions and violent protests in major cities across the country is a worrisome combination for markets,” said David Trainer, CEO of investment research firm New Constructs.

The growing tensions at home and abroad helped slow Wall Street’s rally over the last two months amid optimism about the economy emerging from lockdowns meant to control the coronavirus. The S&P ended May just about 10.3 percent below its all-time high reached in February, before the pandemic tanked global markets.

But global markets rose Monday given that Trump’s Friday strike at Beijing left the landmark US-China trade deal unscathed. Hong Kong’s Hang Seng index closed up 3.3 percent, while London’s FTSE 100 was recently up 0.7 percent.

With Post wires

Stock Alert: Myovant Sciences Trading Up 18%

Shares of Myovant Sciences (MYOV) are climbing more than 17% Monday morning after the company announced that it has submitted a New Drug Application (NDA) to the FDA for its once-daily relugolix combination tablet for the treatment of women with uterine fibroids.

If approved, relugolix combination tablet would be the first once-daily, oral treatment for women with heavy menstrual bleeding associated with uterine fibroids in the U.S.

MYOV is currently trading at $14.36. It has traded in the range of $4.14- $19.58 in the last 52-weeks.

Stock Alert: Myovant Sciences Trading Up 18%

Shares of Myovant Sciences (MYOV) are climbing more than 17% Monday morning after the company announced that it has submitted a New Drug Application (NDA) to the FDA for its once-daily relugolix combination tablet for the treatment of women with uterine fibroids.

If approved, relugolix combination tablet would be the first once-daily, oral treatment for women with heavy menstrual bleeding associated with uterine fibroids in the U.S.

MYOV is currently trading at $14.36. It has traded in the range of $4.14- $19.58 in the last 52-weeks.