Morning Beat: UBS Group AG (USA) (UBS), AstraZeneca plc (ADR) (AZN), and Apple Inc. (AAPL)
UBS Group AG (USA) (NYSE:UBS) remains bullish on the Greek Banking sector, which is still recovering from one of the worst downturns in years. The Swiss lender in a research note says the sector continues to show signs of progress as the rebound continues.
UBS Group AG (USA) (NYSE:UBS) has since upgraded its rating of Alpha Bank to a ‘Buy’ which points to a potential upside potential citing solid fundamentals. The sentiments echo similar views by Morgan Stanley, which is also bullish about the country’s economy.
Analysts at Morgan Stanley(NYSE:MS) remain confident of stocks in the country rising by 90% as creditors close in on a deal on the release of new bailout funds.
AstraZeneca plc (ADR) (NYSE:AZN) says its drug Benralizumab registered positive results in a phase III trial, as a treatment for Asthma. According to the trials, the drug succeeded in reducing asthma attacks in two pivotal late-stage clinical trials.
The British company now plans to file for regulatory approval in the US and Europe as it remains confident of the drug generating $2 billion in revenue annually. If approved, the drug could hit the market next year. Its approval would be a big boost to AstraZeneca plc (ADR) (NYSE:AZN) drug portfolio, which has come under pressure in the recent past, some blockbuster drugs having lost patent protection.
The performance of Apple Inc. (NASDAQ:AAPL) devices remain unmatched according to the latest report by Blancco Technology group. According to the report, iOS devices recorded a 25% failure rate in the first three months of the year compared to 44% by Android devices.
Samsung devices, which run on Android, had a failure rate of 43% according to the report. Galaxy S6 and Galaxy S5 were the most likely to experience system crashes. Among Apple Inc. (NASDAQ:AAPL) devices iPhone 6 and iPhone 5 remained the likeliest to crash with a failure rate of 25% and 17% respectively.
The higher failure rate should be a point of concern to handset makers as the same could have a catastrophic impact on sales going forward.
Alphabet Inc. (NASDAQ:GOOGL) owned navigation app Waze has unveiled a carpool service in the bay area. Unlike other ride-sharing services in the market, Waze ride will target 25,000 workers who work near the tech giant‘s offices. Some of the workers the company is targeting include those working at Adobe Systems Incorporated (NASDAQ:ADBE) and Wal-Mart Stores, Inc. (NYSE:WMT).
Those who opt for the service will have to pay the driver 54 cents, and Alphabet Inc (NASDAQ:GOOGL) will not take any cut on the fee. The service is already up and running in Israel where the tech giant is taking a 15% commission on every ride. Google bought Waze in 2013 in a deal believed to be worth more than $1 billion.
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