US budget deficit topped $1 trillion in 2019 for the first time in seven years

Amarin’s stock surges, as rival drugs from AstraZeneca, Acasti disappoint

Shares of Amarin Corp. PLC AMRN, +4.43% rose 4.8% in active afternoon trading Monday, after makers of drugs that rival Amarin’s Vascepa, which is used to lower the risk of cardiovascular events in patients with high triglyceride levels reported disappointing trial results. Trading volume in Amarin’s stock was 13.6 million shares, well above the full-day average of about 9.9 million shares. Acasti Pharma Inc. ACST, -64.77% said a phase 3 trial of CaPre failed to meets its primary endpoint, of reducing triglycerides by 20% compared with placebo. The median triglyceride reduction in patients taking CaPre was 30.5% while the median reduction of patients taking a placebo was 27.5%. Acasti’s stock plummeted 64% on volume of 48 million shares. And AstraZeneca PLC shares AZN, -0.56% fell 0.6% said it would discontinue the phase 3 trial of Epanova given its "low likelihood of demonstrating a benefit" to patients at increased risk of cardiovascular events, and that it would take a charge of up to $100 million as a result. Amarin’s stock has run up 30.5% over the past three months, while the S&P 500 SPX, +0.57% has gained 10.5%.

Canadian CEO blames ‘narcissist in Washington’ for downing of jet in Iran

That’s Michael McCain, CEO of Maple Leaf FoodsMFI, -1.36% , laying blame on President Donald Trump (without specifically calling out his name) for the Ukrainian passenger jet that was shot down by Iran.

“I am very angry, and time isn’t making me less angry,” he wrote in a series of tweets on Sunday. “A MLF colleague of mine lost his wife and family this week to a needless, irresponsible series of events in Iran.”

He went on to call Trump’s behavior “irresponsible, dangerous, ill-conceived,” and added, “We are mourning and I am livid.”

Iran over the weekend admitted that it actually downed the plane on accident, killing 57 Canadians in the process as its air defenses were on high alert amid the heightening tensions with the U.S.

“The world knows Iran is a dangerous state,” McCain said. “But the world found a path to contain it; not perfect but by most accounts it was the right direction.”

McCain’s tweets went viral overnight, with the initial post racking up almost 50,000 likes and 15,000 retweets.

Gold futures mark lowest settlement in over a week

Gold futures settled with a loss on Monday, sending prices to their lowest finish since the first full trading day of the year. A rise in the U.S. stock market, strength in the dollar versus the Japanese yen, and a climb in U.S. bond yields dulled haven demand for the precious metal. February gold GCG20, -0.62% lost $9.50, or 0.6%, to settle at $1,550.60 an ounce. That was the lowest settlement for a most-active contract since Jan. 2, according to FactSet data.

Hands on with Microsoft's new augmented reality headset

New York (CNN Business)It’s the end of the line for Windows 7.

Microsoft will no longer support the 11-year-old operating system as of Tuesday. For users, that means Microsoft will stop providing updates and security patches for Windows 7.
The changes will affect hundreds of millions of people because more than one-third of PCs use Windows 7, according to NetMarketShare. That is slightly fewer than Windows 10, the most popular PC operating system, which is on about half of the world’s personal computers. Windows 10 is used on 900 million devices, according to recent numbers from Microsoft.

    Microsoft said that Windows 7 users can still use their computers after Tuesday, but the company warns they will be at “greater risk for viruses and malware.”
    The company is encouraging people to upgrade to Windows 10 for $139 or buy a new device running Windows 10 if their computer is more than three years old. It previously offered a free upgrade from Windows 7 to Windows 10 when Microsoft launched its latest operating system more than four years ago.

      Like other operating system makers, Microsoft regularly ends support for its outdated software. It stopped supporting Windows 8 in 2016 and Windows XP in 2014.
      Windows 10 launched in 2015 and included several updates to the largely derided Windows 8, including a revamped appearance, the ability to use the Cortana voice assistant and enhanced security features.

      Cynthia Nixon To Direct Landmark Lesbian Play ‘Last Summer At Bluefish Cove’ For Broadway

      Cynthia Nixon will direct a 40th anniversary Broadway production of Jane Chambers’ landmark lesbian stage drama Last Summer at Bluefish Cove, to be produced by Ellen DeGeneres, Portia de Rossi, Lily Tomlin, Jane Wagner and Harriet Newman Leve.

      The producers have not yet announced casting, venue or timeline.

      Set in 1980 at the lesbian beach haven called Bluefish Cove, the play follows Lil Zalinski and her close-knit group of friends who summer at the colony each year. The arrival of a newcomer (and, possibly, a heterosexual to boot) shakes up the group, as does Lil’s cancer diagnosis.

      The play was first staged Off Broadway in 1980 at the Actors’ Playhouse, starring Jean Smart as Lil. Playwright Chambers was diagnosed with cancer in 1981, and died in 1983.

      US budget deficit topped $1 trillion in 2019 for the first time in seven years

      The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department figures released Monday.

      The budget shortfall hit $1.02 trillion for the January-to-December period, a 17.1% increase from 2018, which itself had seen a 28.2% jump from the previous year.

      Rising corporate tax revenue helped lower the pace of increase in the spending gap.

      For the fiscal year, which began in October, the shortfall is already at $356.6 billion, an 11.7% increase from a year ago. If that pace continues it would also lead to a fiscal deficit for 2019-20 of more than $1 trillion.

      Through December, receipts have totaled $806.5 billion while outlays have come to $1.16 trillion.

      President Donald Trump had vowed that his stimulus policies, including massive corporate tax cut and aggressive deregulation, would help stem the red ink coming from Washington, but it has only increased. As deficits have swelled, so has the national debt, which is now at $23.2 trillion.