Compugen: Q1 Earnings Snapshot
HOLON, Israel — HOLON, Israel — Compugen Ltd. (CGEN) on Monday reported a loss of $7.2 million in its first quarter.
On a per-share basis, the Holon, Israel-based company said it had a loss of 8 cents.
The drug developer posted revenue of $2.3 million in the period.
The company's shares closed at $1.37. A year ago, they were trading at $2.11.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
40 minutes ago
- Bloomberg
Trump's Twists and Turns Over Iran Leave Oil Traders Hanging
The oil market is wrestling with Donald Trump's next act in the conflict between Iran and Israel, with the US president's every utterance over the fighting seemingly capable of spiking or crashing prices. In a wild week, Brent futures have surged 11% from before Israel attacked its nemesis, but with sharp moves up and down from one day to the next.
Yahoo
2 hours ago
- Yahoo
Gold prices should hit $4,000 as U.S. deficits may overshadow the Israel-Iran conflict, BofA says
Wars and geopolitical conflicts typically aren't long-term growth drivers for gold prices, according to analysts at Bank of America, which sees the precious metal reaching $4,000 an ounce over the next year. Despite the Israel-Iran conflict heating up, the outlook for gold is likely to be swayed more by the U.S. budget deficit. Gold is often seen as a safe-haven asset during times of global turmoil, but wars and geopolitical conflicts typically aren't long-term growth drivers for gold prices, according to analysts at Bank of America. In fact, gold has actually dipped 2% in the week since Israel began its airstrikes on Iran. Meanwhile, tensions are ramping as reports Saturday said B-2 stealth bombers are headed over the Pacific. That's as President Donald Trump weighs involvement in the conflict, potentially with bombers dropping massive 'bunker busters' on heavily fortified Iranian nuclear sites. In a note on Friday, BofA analysts said they expect gold prices to reach $4,000 per ounce in the next year, representing an 18% jump from current levels. 'While the war between Israel and Iran can always escalate, conflicts are not usually a sustained bullish price driver,' they wrote. 'As such, the trajectory of the US budget negotiations will be critical, and if fiscal shortfalls don't decline, the fallout from that plus market volatility may end up attracting more buyers.' The Israel-Iran conflict has drawn attention away from Trump's tax-and-spending bill making its way through Congress. While the House and Senate versions have key differences that need to be reconciled before it can become law, the bill's fiscal impact is still expected to add trillions of dollars to U.S. deficits in the coming years. That's raised fears about the sustainability of U.S. debt and global demand for the flood of Treasury bonds that will be issued to finance all the red ink. And amid Trump's trade war, the U.S. dollar—traditionally viewed as a haven asset—has suffered as well, slumping against other top currencies and providing more upside to gold. Central banks around the world have dumped $48 billion in Treasuries since late March alone. At the same time, central banks keep buying gold, continuing a trend that began years earlier. A recent survey from the World Gold Council found that geopolitical instability and potential trade conflicts are chief reasons why central banks in emerging economies are shifting toward gold at a much faster rate than those in advanced economies. BofA estimated the central banks' gold holdings are now equivalent to just under 18% of outstanding U.S. public debt, up from 13% a decade ago. 'That tally should be a warning for US policymakers. Ongoing apprehension over trade and US fiscal deficits may well divert more central bank purchases away from US Treasuries to gold,' analysts warned. Meanwhile, the market still doesn't appear to be overexposed to gold. BofA estimated that investors have allocated just 3.5% of their portfolios to gold. And regardless of how Congress ends up rewriting the budget bill, analysts said deficits will remain elevated. 'Therefore, market concerns over fiscal sustainability are unlikely to fade no matter the result of Senate negotiations,' BofA predicted. 'Rates volatility and a weaker USD should then keep gold supported, especially if the US Treasury or the Fed are ultimately forced to step in and support markets.' This story was originally featured on
Yahoo
3 hours ago
- Yahoo
Major grocery chain to close over 60 locations by end of 2026
Kroger will be closing more than 60 stores it considers underperforming across the U.S. by the end of 2026, according to a recent announcement by the grocery chain. The news was part of Kroger's first-quarter earnings report, which was released on Friday. It states that the closures are expected to provide the company a "modest financial benefit." "In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months. As a result of these store closures, Kroger expects a modest financial benefit," the company said in the report. Kroger said it aims to reinvest the money it saves through the closing into improving its customer experience at other stores. "Kroger is committed to reinvesting these savings back into the customer experience, and as a result, this will not impact full-year guidance," the company said. The report was also clear to mention that none of the forthcoming changes signal a need for layoffs. Employees at the affected stores will be offered roles in other stores, according to the report. The company's first-quarter earnings fell to $866 million, down from $962 million during the same quarter last year. Its total sales were also down, from $45.3 billion last year to $45.1 billion this year. Despite the first quarter losses, the company still increased its full-year earnings forecast to between 2.25 percent and 2.35 percent growth. The chain said that demand for its fresh food, store branded products, and its digital services is strong and will likely remain so throughout the year. While the company is closing stores by the end of next year, it also announced plans to open around 30 new stores by the end of this year. Kroger operates nearly 2,800 stores in the U.S. under the name Kroger as well as Ralphs, King Soopers, Fredy Meyer and Harris Teeter. The company is currently in the process of selecting a new CEO after its previous CEO, Rodney McMullen, resigned in March amid an internal ethics investigation. Sign in to access your portfolio
