Diamonds and Dogs

6/1/20

Beyond Meat (BYND) going overseas. The plant-based meat company is up 6% following news they are expanding their partnership with KFC into China through Yum China. KFC will offer the Beyond Burger as a three-day offering at five locations in Beijing, Chengdu, Hangzhou and Shanghai.China doesn't want to buy our soy beans and other foods from US farmers, but they will eat our meatless burgers. Odd. 

Pfizer (PFE) taking a hit. The drug maker is lower by 8% after an independent data monitoring committee determined the Pfizer's breast cancer treatment was unlikely to meet the main goal of a late-stage study. The treatment, Ibrance, was being tested along with the standard of care for early breast cancer in men and women. The JP Morgan analyst believes the early failure represents a meaningful setback for Pfizer. At least three other brokerages cut their price targets on the stock as well.