Viatris Inc
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Health Care : Pharmaceuticals | Mid Cap Value
Company profile

Viatris Inc. is a global healthcare company. The Company has four segments: Developed Markets, Greater China, JANZ and Emerging Markets. Developed Markets segment comprises its operations primarily in North America and Europe. Greater China segment includes its operations in China, Taiwan and Hong Kong. JANZ segment reflects its operations in Japan, Australia and New Zealand. Emerging Markets segment encompasses its presence in approximately 125 countries with developing markets and emerging economies including in Asia, Africa, Eastern Europe, Latin America and the Middle East, as well as its anti-retroviral franchise. Its portfolio comprises approximately 1,400 approved molecules across a range of key therapeutic areas, including globally recognized iconic and key brands, generics, complex generics, and biosimilars. It operates approximately 40 manufacturing sites worldwide, which produces oral solid doses, injectables, complex dosage forms and active pharmaceutical ingredients.

Premarket

Last Trade
Delayed
$11.24
0.13 (1.17%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$11.11
Day's Change
0.00 (0.00%)
Bid close
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Ask close
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
1,054

10-day average volume:
14,610,516
1,054

China ADSs are flying as fading regulatory headwinds send iQIYI, NIO and Alibaba stocks surging

12:30 pm ET May 17, 2022 (MarketWatch)
Print

By Tomi Kilgore

China's top economic official suggests government supports development of tech sector and public listings, suggesting scrutiny is easing

The U.S.-listed shares of China-based companies, surged Tuesday, particularly in the interest sector, as an apparent reduction of regulatory scrutiny has emboldened Wall Street analysts and investors to bet on an extended bounce.

The iShares MSCI China exchange-traded fund (MCHI) rallied 2.5% in morning trading and the KraneShares CSI China Internet ETF (KWEB) hiked up 2.4%, with 42of 48 components gaining ground. In comparison, the S&P 500 index rose 1.2%.

Chinese Vice-Premier Liu He, the country's top economic official, said overnight that the government supported the development of the sector and public listings for technology companies, suggesting a crackdown on U.S.-listings of China-based tech giants was easing.

Among the more active American depositary shares (ADS), NIO Inc.'s (NIO) charged up 11.1% in midday trading, and have soared 27.1% amid a four-day win streak, which followed a 22-month closing low last Thursday. Trading volume of 56.8 million shares made the stock the most actively traded on the NYSE.

Tuesday's rally comes after BofA Securities turned bullish on NIO, citing valuation coupled with easing regulatory pressures.

Shares of iQIYI Inc. (IQ), which are among the most actively traded on the Nasdaq, ran up 5.6%, and have rocketed 35.3% amid a four-day win streak.

On Monday, the ADS shot up 14.8% after J.P. Morgan upgraded the streaming -video company, as well as a number of other China-based internet companies, as recent "significant uncertainties" have started abating on the back of recent regulatory announcements.

Alibaba Group Holding Ltd.'s ADS (9988.HK) got a 4.4% bump in midday trading. J.P. Morgan's Alex Yao pulled a bullish about-face on the ecommerce giant, double upgrading it to overweight from underweight on Monday, as he believes historically low valuation offers "attractive risk/reward" in an improving macro environment.

Among other companies Yao double upgraded on Monday, the U.S.-listed shares of Tencent Holdings Ltd. (0700.HK) rose 3.2%, Meituan advanced 3.2%, Pinduoduo Inc. (PDD) ran up 4.9%, NetEase Inc. (NTES) gained 0.3% and Dingdong Ltd. (DDL) jumped 2.7%.

JD.com Inc.'s ADS (JD) charged up 1.6%, and was also one of the most active on the Nasdaq, after the ecommerce company reported earlier Tuesday first-quarter profit and revenue that beat expectations by wide margins. The company was also upgraded by Yao, who raised the rating to neutral from underweight.

Elsewhere, share of Baidu.com (K3SD.SG) rose 3.0%, Bilibili Inc. (BILI) gained 2.7% and Vipshop Holdings Ltd. (VIPS) tacked on 3.4%.

Outside of tech, the ADS of education companies were also broadly higher, with TAL Education Group (TAL) rallying 4.4%, New Oriental Education & Technology Group Inc. (EDU) rising 4.2% and Gaotu Techedu Inc. (GOTU) adding 3.0%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

May 17, 2022 12:30 ET (16:30 GMT)

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