Uber Technologies is a global company that is transforming the ride-sharing and meal delivery markets. After a much-hyped debut on May 10, 2019, Uber stock is one of the most watched IPO stocks today, but is Uber a buy right now in the current stock market rally? Uber is in the midst of a dramatic turnaround, as the company fights to turn a profit.
- Investor's Business Daily
Peloton stock was a top performer in the coronavirus stock market rally. But is the fitness stock ready for a rest?
- WCVB - Boston
Approximately 50,000 vaccine appointments were booked up within 90 minutes on Thursday, as thousands of others reported wait times adding up to weeks or months.
- The Telegraph
A single dose of the Pfizer vaccine appears to cut the risk of Covid transmission by three quarters, research by Cambridge University suggests. Scientists said the findings were "dramatic" and showed that vaccines offered a way out of lockdown and "a much brighter future". The study involved almost 9,000 hospital workers who were screened for Covid in January, meaning that cases could be detected whether or not symptoms were showing. It found that 0.8 per cent of tests from unvaccinated workers were positive, compared with just 0.2 per cent of those who had been vaccinated at least 12 days before. A similar reduction was seen among those with symptoms of the virus when people given the jab were compared with those who had yet to receive it. But the impact shown on asymptomatic cases is particularly significant because it suggests the vaccines are blocking virus transmission. Dr Mike Weekes, an infectious disease specialist at CUH and the University of Cambridge's Department of Medicine, who led the study, said: "This is great news – the Pfizer vaccine not only provides protection against becoming ill from SARS-CoV-2 but also helps prevent infection, reducing the potential for the virus to be passed on to others. "This will be welcome news as we begin to plot a roadmap out of the lockdown, but we have to remember that the vaccine doesn't give complete protection for everyone. We still need social distancing, masks, hand hygiene and regular testing until the pandemic is under much better control."
- FX Empire
The direction of the EUR/USD into the close on Friday is likely to be determined by trader reaction to 1.2151.
(Bloomberg) -- The Biden administration defended its decision to carry out airstrikes in eastern Syria overnight, saying the sites it hit are connected to Iranian-backed groups believed to be involved in recent attacks in Iraq.“We’re confident that these were legitimate targets utilized by groups associated with these recent attacks,” Pentagon spokesman John Kirby said in a briefing on Friday. The strikes sent an “unambiguous message” that “we will defend ourselves, that we will protect our interests. We are certainly going to act to defend our people.”Even so, the U.S. strikes prompted debate among American lawmakers over the first overt use of military force under President Joe Biden.The assault came after a series of rocket attacks in recent days on facilities in Iraq used by the U.S., including one that killed a contractor working with the U.S.-led coalition in the country.At least 22 Iraqi militants allied with Iran were killed and three ammunition trucks were destroyed in the attack, according to the U.K.-based Syrian Observatory for Human Rights, which gathers information from a network of activists on the ground in Syria.Kirby said the U.S. destroyed nine facilities and damaged two others.The Syrian foreign ministry said in a statement that the airstrike sent a “negative indication about the new U.S. administration’s policy” and that such attacks could escalate tensions in the region.Senator James Inhofe of Oklahoma, the top Republican on the Senate Armed Services Committee, said in a statement Friday that the “strikes were the correct, proportionate response to protect American lives, and I look forward to more information on the administration’s response to Iran’s aggression.” Other Republicans echoed his approval.But some Democrats voiced opposition or wanted more details. “This makes President Biden the seventh consecutive U.S. president to order strikes in the Middle East,” Representative Ro Khanna of California said in a statement. “There is absolutely no justification for a president to authorize a military strike that is not in self-defense against an imminent threat without congressional authorization.”Senator Tim Kaine of Virginia, who has long argued that presidents need to seek approval from lawmakers for most military operations, said in a statement that “the American people deserve to hear the administration’s rationale for these strikes and its legal justification for acting without coming to Congress.”“I get nervous anytime we bomb anyone,” said House Rules Committee chairman Jim McGovern of Massachusetts. “I hope it doesn’t escalate.”The Defense Department briefed congressional leaders before the strikes, said White House Press Secretary Jen Psaki. Administration officials have been briefing individual lawmakers and their staffs and will hold a “full classified briefing early next week at the latest,” she said.Biden acted under his constitutional authority to defend U.S. personnel and deter the risk of additional attacks, according to a National Security Council aide who commented on condition of anonymity.Kirby said two F-15E Strike Eagles dropped seven precision-guided munitions, “totally destroying nine facilities and partially destroying two facilities, making them functionally destroyed.”“These strikes were authorized in response to recent attacks against American and coalition personnel in Iraq, and to ongoing threats to those personnel,” Kirby said in a statement Thursday night. “The strikes destroyed multiple facilities located at a border control point used by a number of Iranian-backed militant groups, including Kait’ib Hezbollah and Kait’ib Sayyid al-Shuhada.”After a decade of civil war, Syria’s military is not in a strong position to respond directly to a U.S. attack. The country faced two attacks by the U.S. military during former President Donald Trump’s tenure, both over President Bashar al-Assad’s use of chemical weapons in the conflict.By hitting a facility in Syria, the U.S. avoids raising tensions that would come with a direct strike on Iran, which the Biden administration is seeking to persuade to return to the 2015 nuclear deal Trump abandoned three years ago. It also avoids a U.S. strike inside Iraq, which would have caused embarrassment for the fragile U.S.-allied government in Baghdad.“The operation sends an unambiguous message,” Kirby said Thursday night. “President Biden will act to protect American and coalition personnel. At the same time, we have acted in a deliberate manner that aims to de-escalate the overall situation in both eastern Syria and Iraq.”The U.S. launched the strike one day after Biden spoke with Iraqi Prime Minister Mustafa Al-Kadhimi. The two leaders “discussed the recent rocket attacks against Iraqi and coalition personnel and agreed that those responsible for such attacks must be held fully to account,” the White House said Wednesday in a statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The House passed President Biden's $1.9 trillion stimulus package. While the bill faces hurdles in the Senate, the provisions authorizing another round of stimulus payments seem safe.
- Yahoo Finance
A new survey from Yahoo Finance and The Harris Poll finds 46% of Americans support some level of student loan forgiveness.
- Yahoo Finance
“A happy life is very simple,” the 97-year-old Munger said during the Annual Meeting of Shareholders of the Daily Journal Corporation.
(Bloomberg) -- State Bank of India, the country’s largest lender, is preparing for its mutual fund joint venture for an initial public offering, according to people familiar with the matter.SBI plans to ask investment banks for proposals after discussions with its board and shareholder Amundi Asset Management and kick off the process in the next few months, the people said. The lender could raise about $1 billion from the offering, one of the people said, who asked not to be identified as the information is private. SBI’s mutual fund is currently valued at about $7 billion, another person said.At $1 billion, the first-time share sale could be India’s biggest since the $1.4 billion listing by SBI Cards & Payment Services Ltd. in March, according to data compiled by Bloomberg. The SBI mutual fund business would also be the third such listing of its kind in the country, joining UTI Asset Management Co. and HDFC Asset Management Co.Shares in SBI pared losses in Mumbai after the Bloomberg News story, ending the day 4.2% lower as the broader banking gauge was down 4.9%.SBI’s plans to list the mutual fund arm is part of its strategy to extract more value from its units after divesting some of its stakes in its life insurance and cards businesses last year.SBI’s mutual fund is the largest in India with 5 trillion rupees ($68.4 billion) of assets under management, according to its website. The fund house posted a net income of 4.98 billion rupees for the April-December period, according to an investor presentation. SBI holds a 63% stake in the mutual fund business, while Paris-based Amundi owns the rest.Deliberations are at an early stage and details of the share sale could still change, the people said. A representative for SBI didn’t immediately respond to requests for comment.(Updates to add SBI shares in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the IRS.
Here's what still has to happen, now that the U.S. House has given its OK.
- USA TODAY
Co-owner Penny Chutima and her mother, storied chef Saipin, saw what was happening in China and prepared early for the pandemic to hit the states.
Last night on MSNBC, Bloomberg reporter Tim O'Brien speculated that the lead accountant on the Trump Organization's taxes may turn state's evidence. Allen Weisselberg is the chief financial officer of...
As Bitcoin breaks the $50,000 mark and the Dow hovers in the low 30,000s, a new report from the Bank of America and EPFR Global reveals that the latest market exuberance "may precede a correction,"...
Johnson & Johnson's Vaccine Gets Unanimous Backing Of FDA Panel, Emergency-Use Authorization Soon To Come
Johnson & Johnson's (NYSE: JNJ) coronavirus vaccine candidate could be given clearance for emergency use today, following unanimous backing by a Food and Drug Administration panel. What Happened: The FDA plans to rapidly finalize the vaccine and authorize it for emergency use. It is working with other federal agencies to ensure timely vaccine distribution, Acting Commissioner Janet Woodcock said in a statement. The announcement followed a live-streamed one-day meeting on Friday of the FDA's Vaccines and Related Biological Products Advisory Committee. This vaccine is a single-dose shot for adults 18 years and older. An independent expert panel, consisting of 22 members, voted unanimously to authorize the vaccine candidate, deeming the benefits of the vaccine outweigh the known risks. Although committee members expressed apprehensions over lower efficacy in some adults over the age of 60, it was finally decided that this subgroup was too small a population to draw broader conclusions. "We believe our COVID-19 vaccine candidate has the potential to help change the trajectory of the pandemic and stand ready to make it available to protect the public as soon as possible," said Paul Stoffels, chief scientific officer at J&J. The recommendation was based on evidence provided by the company, including efficacy and safety data from the Phase 3 ENSEMBLE trial, which showed that the vaccine was 66% effective in preventing moderate-to-severe cases of the disease. Related Link: Why Merck Is Buying Autoimmune Disease Drug Company Pandion For $1.85B The overall efficacy, however, pales before the 95% efficacy reported by Moderna Inc (NASDAQ: MRNA) and Pfizer Inc. (NYSE: PFE)-BioNTech SE – ADR (NASDAQ: BNTX) for their vaccine candidates. Moderna and Pfizer-BioNTech received authorizations for their vaccine candidates in December. Unlike the messenger RNA vaccines of Moderna and Pfizer-BioNTech, J&J's vaccine candidate uses a single-dose regimen and is an experimental viral vector vaccine that uses a weakened form of adenovirus to transport genetic material to trigger immune response. J&J's vaccine candidate can remain stable for two years at -20 degrees Celsius, at least three months of which can be at temperatures of 2-8 degrees Celsius. The vaccines from Moderna and Pfizer, on the other hand, require cold-chain logistics to stay effective. What's Next: After emergency use authorization, the U.S. Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices will provide a recommendation on the use and roll-out of J&J's vaccine. The company said it is prepared to supply its vaccine immediately upon authorization and expects to deliver enough single-dose vaccines by the end of March to vaccinate more than 20 million people in the U.S. The company plans to deliver 100 million single-dose vaccines in the U.S. during the first half of 2021. J&J also has an application pending before European regulators for obtaining conditional marketing authorization in the region. The World Health Organization is reviewing an emergency use listing for the vaccine. Related Link: The Daily Biotech Pulse: Adcom Test Awaits J&J's COVID-19 Vaccine, Lilly To Supply Additional Antibody Therapy Doses To US, Regulatory Setback For Tricida See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Adcom Test Awaits J&J's COVID-19 Vaccine, Lilly To Supply Additional Antibody Therapy Doses To US, Regulatory Setback For TricidaJohnson & Johnson's Single-Dose Coronavirus Shot Gets Favorable FDA Review Ahead Of Adcom Meeting© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Yahoo Finance
While Warren Buffett isn’t known to prognosticate on where interest rates are heading, he warns that fixed-income investors “face a bleak future."
- Motley Fool
There's a recent mania taking over the investing world, and it's called cryptocurrency. Since the domain name Bitcoin.com was registered in 2008, the world has seen Bitcoin (CRYPTO: BTC) rise and fall, hitting just under $50,000 per token on Feb. 15, 2021. While many people are bullish on Bitcoin's prospects, many others feel it's just too risky for an average investor to hold in their portfolio.
- USA TODAY
The Ford family is auctioning a 1958 Edsel Bermuda Wagon and a 1947 Woody Wagon from its personal collection at Barrett-Jackson in Scottsdale, Ariz.
(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. bought back a record $24.7 billion of its own stock last year and said there’s more to come, as the conglomerate struggled to find other ways to deploy its enormous pile of cash.The company’s purchase of $9 billion of shares in the fourth quarter matched a record set in the previous three-month period, Buffett said Saturday in his annual letter to investors.“Berkshire has repurchased more shares since year-end, and is likely to further reduce its share count in the future,” Buffett, 90, said in the letter. “That action increased your ownership in all of Berkshire’s businesses by 5.2% without requiring you to so much as touch your wallet.”Buffett’s letter, a closely-watched missive from one of the world’s most renowned investors, devoted large portions to the impact of repurchases, one of Berkshire’s biggest capital-deployment moves last year as it “made no sizable acquisitions.” He also shared his thoughts on the strategy of conglomerates, praising businesses such as Berkshire’s insurance operations and railroad.He shied away from some of the most controversial issues of the day, including politics, the pandemic and racial equality. But Buffett stood by his optimism for America, saying that progress on achieving a “more perfect union” was uneven but still moving forward.“Our unwavering conclusion: Never bet against America,” he said.There was a small amount of progress in paring the cash pile, which fell 5% in the fourth quarter to $138.3 billion. Buffett has struggled to keep pace with the flow in recent years as Berkshire threw off cash faster than he could find higher-returning assets to snap up.Apple Inc. is one of Berkshire’s top three most-valuable assets, at $120 billion, Buffett said. The technology company has said it intends to repurchase its own shares as well.“The math of repurchases grinds away slowly, but can be powerful over time,” Buffett said. “The process offers a simple way for investors to own an ever-expanding portion of exceptional businesses.”Separately, Buffett acknowledged that the $11 billion writedown Berkshire took last year was almost entirely due to what he conceded was a “mistake” in 2016, when he paid too much for Precision Castparts. Precision is a fine company, Buffett said, but he admitted he made a big error.“I was wrong, however, in judging the average amount of future earnings and, consequently, wrong in my calculation of the proper price to pay for the business,” Buffett said in the letter.Stock PortfolioSwings in Berkshire’s massive $281.2 billion stock portfolio feed into the company’s net income because of an accounting technicality. That drove the figure up 23% to $35.8 billion in the fourth quarter from a year earlier.Berkshire’s Class A shares gained roughly 2.4% last year, falling short of the 16% increase in the S&P 500.The billionaire only briefly touched on one of the largest questions looming over Berkshire -- how long he might stay at the helm. He once again referenced a favorite CEO, Mrs. Blumkin, who founded Nebraska Furniture Mart. She worked until she was 103 -- “a ridiculously premature retirement age as judged by Charlie and me,” Buffett wrote, referring to Charlie Munger, 97, a Berkshire vice chairman.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Griddy Energy LLC , a Texas retail electricity provider that came under fire after its customers received exorbitant power bills during the energy crisis last week, was barred from participating in the state’s power market Friday.The Electric Reliability Council of Texas revoked Griddy’s rights to conduct activity in the state’s electricity market due to nonpayment, according to a market notice seen by Bloomberg.The Macquarie Energy-backed company said previously it would challenge the prices set by the grid operator during the crisis and its chief executive officer, Michael Fallquist, declined to testify at Texas legislative hearings Friday.Griddy said in a statement Friday that the decision on pricing was made “to take the price out of the hands of the market,” adding that “we wanted to continue the fight for our members to get relief and that hasn’t changed.” For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.