Diamonds and Dogs
Gilead Sciences (GILD) lifting the major averages after their remdesivir drug met its primary endpoint in an NIAID placebo-controlled study giving investors hope a reopening is possible. Gilead is up 6% while the major averages are up at least 2.7% at a one month high.
Hertz Global Holdings (HTZ) is down 11% as the company is doing everything it can to preserve cash and get leniency from its lenders to avoid a bankruptcy filing amid the collapse in the travel industry. The company has been in discussions with creditors for weeks and is still pushing the U.S. Treasury Department to help rental-car companies. Hertz is working with several advisory firms to restructure its balance sheet.
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