Diamonds and Dogs
Tesla Motors (TSLA) and Panasonic (PCRFY) are coming to Buffalo, NY. Tesla and Panasonic finalized an agreement this week to begin the manufacturing of photovoltaic cells and modules at the Buffalo, NY factory. These high-efficiency PV cells and modules will be used to produce solar panels in the non-solar roof products. When production of the solar roof begins, Tesla will also incorporate Panasonic's cells into the many kinds of solar glass tile roofs that Tesla will be manufacturing. All of these solar products will work seamlessly with Tesla's energy storage products, Powerwall and Powerpack. Production of the first PV modules will begin in summer 2017, and will ramp to 1 Gigawatt of module production by 2019.
Seattle Genetics Inc. (SGEN) did not get a gift from Santa in 2016. The stock is down double-digits on the morning of December 27 after the company announced that the U.S. Food and Drug Administration (FDA) has placed holds on several early-stage clinical trials of its leukemia drug candidate. The reason for the clinical holds was to evaluate the potential risk of hepatotoxicity in patients treated with SGN-CD33A and received allogeneic stem cell transplant either before or after treatment. Six patients were shown to have sustained liver damage, and four patients died.