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Why an approved coronavirus vaccine can’t quickly end the pandemic



Why an approved coronavirus vaccine can't quickly end the pandemic

Tesla CEO Elon Musk has warned you.

In May, when the electric car’s stock was less than half its current value (adjusted for the split), Musk tweeted that his company was overvalued. Investors finally shared that view on Tuesday when the stock fell 21%, the worst drop in history since the S&P Dow Jones indices stopped Tesla TSLA.
to the S&P 500 index.

Since September 2, the worst members of the Nasdaq-100 have been Tesla, the electronic signature provider of DocuSign DOCU.
semiconductor manufacturing company KLA KLAC,
Zoom Video Communications ZM,
and computer games company Nvidia NVDA,
– All, except for the UAC, this year have risen in price at least twice.

While the timing may have been unexpected, the actual drop can be explained as an adjustment for irrational exuberance, particularly for the tech sector.

Read also: Best of luck, stocks have performed well after similar Nasdaq adjustments.

But one of the reasons for the bump in the market, at least until September, was the work of several companies on a coronavirus vaccine. Evercore ISI held a teleconference on this topic and the findings were sobering.

Speaking to the news that AstraZeneca has suspended COVID-19 trials due to illness, analyst Josh Shimmer noted that for most vaccines, pharmaceutical companies agree to lower levels of immunity in exchange for better tolerance. Now, he says, companies are promoting the protective profile for maximum effect, knowing that it could have more side effects. In his opinion, the likelihood that the first vaccines will work well is greater than 50/50, which he defined as a 90% reduction in event rates or a significant benefit in severe cases.

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AstraZeneca AZN,
along with vaccines created by Pfizer PFE,
/ BioNTech BNTX,
+ 2.15%
cooperation with Moderna MRNA,
were considered the most likely to complete the final stage of the trial by October. Novawax NVAX,
The vaccine, which many investors consider their favorite, is expected to complete phase 3 in December, according to Schimmer.

But the next most likely scenario is that they work, but not very well, as a flu vaccine, in which case the impact on mitigating the pandemic will be limited. “I don’t know if the COVID vaccine will quickly get us out of this mess with a 60% effectiveness,” he said. (Minimum efficiency 50%.). In this scenario, the hope is that the second wave of vaccines will work better, “swap out vaccinated horses halfway if better ones come out.”

He added that the likelihood that vaccines do not work, worsen the infection, or have problematic side effects is less likely.

More positively, analyst Vijay Kumar said the recently approved rapid antigen tests at the point of care will be helpful in rebuilding the economy and alleviating testing restrictions. He said that by the first half of next year, anyone will be able to get tested.


AstraZeneca AZN,
+ 2.10%
said it “voluntarily suspend vaccinations to allow an independent committee to review the safety data, “And called the pause” routine. ” The New York Times reported that a volunteer in a UK trial was diagnosed with transverse myelitis, an inflammatory syndrome that affects the spinal cord and is often caused by viral infections.

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LVMH Moet Hennessy MC,
said it would not be able to complete the previously announced $ 16.2 billion takeover of Tiffany TIF,
+ 0.01%
which led to a sharp decline in the US luxury retailer’s premarket inventory and prompted a lawsuit to enforce the deal.

Weak WORK,
+ 0.86%
there may be pressure after office communications software maker exceeded analysts’ expectations in terms of revenue and prospectsbut not as much as Zoom Video Communications.

Sportswear manufacturer Lululemon Athletica LULU,
reported above-forecast profit and loss.

This is a pretty calm day for the economy, as evidenced by the Bank of Canada’s interest rate decision and job vacancies in the US.

Former Vice President Joe Biden has proposed a new tax penalty for offshoring, as well as a proposal to double the minimum tax on foreign income.


After the 4.1% crash for the Nasdaq Composite COMP,
and a 2.8% drop for the S&P 500, ES00 futures share,
+ 0.92%
pointed to a more optimistic start, especially for the Nasdaq-100 NQ00,
+ 1.69%

Crude oil CL.1,
+ 1.87%
futures rose and gold fell.

Yield on 10-year Treasury bonds TMUBMUSD10Y,
rose to 0.69%.


Citi reports that the decline in social distancing in the global economy has continued for two weeks since late August. Global mobility improved to -14.4% from -16.5% and to -17.4% in the US after a two-month fluctuation of around -19%.

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Wall Street is back on a roller coaster of volatility. But Biden still has a positive balance for a year – Bolsa



Wall Street is back on a roller coaster of volatility.  But Biden still has a positive balance for a year - Bolsa

US equities continued to test positive territory but eventually turned red in a volatile session with many ups and downs.

The Dow Jones industrial index fell 0.89% to 34,715.39 points. Remember, on January 5th it reached a level that was not there before, 36,952.65 points.

The Standard & Poor’s 500 fell 1.10% to 4482.73. Its historical maximum was reached in intraday trading on January 4 and amounted to 4818.62 points.

On the other hand, the Nasdaq Composite Technology Index lost 1.30% to 14,154.02 points. Yesterday, the index entered correction territory, losing 10% from its previous closing record reached on November 19. Its all-time intraday high is 16,212.23 points, set on November 22.

Indices on the other side of the Atlantic once again fluctuated between profit and loss, trading in positive territory as the rise in sovereign debt rates stabilized.

The sun was short-lived, however, and late in the session, the sell-off movement seen in recent days became more visible again, especially in the technology sector, which has grown strongly over the past two years due to low interest rates. and that he now fears the consequences of a Fed rate hike that could start as early as March.

This drop in technology is not a promising sign ahead of the final quarter 2021 financial report, Bloomberg highlights. It will be Netflix’s turn today as soon as Wall Street ends its regular timeslot.

It has been a very volatile month for US stocks. Nevertheless, CNN notes, the first year of Joe Biden’s presidential term has a positive balance in the stock markets.

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A year ago on this date, Biden took office and the S&P 500 has risen about 18% over that period, hitting consecutive all-time highs. The Dow Jones is accumulating more than 12% gains, while the Nasdaq posted a less “impressive” performance of just 6%.

But this start to the year isn’t just bad for the Nasdaq. So far, the S&P 500 and Dow are down more than 4% since the first session of 2021.

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Bitbase Spaniards Want to Invade Portuguese Trade Centers with Crypto ATM



Bitbase Spaniards Want to Invade Portuguese Trade Centers with Crypto ATM

Spanish giant Bitbase, a cryptocurrency retailer that completed a $52 million virtual asset transaction last year alone, has decided to choose Portugal as the first country to start international expansion.

The company will open its first store in the country next Monday, January 24th. The space will be located in Campo de Ourica, Lisbon. In a press release sent to Negosios, the company added that it still wants to launch cryptocurrency ATMs.

“The company’s vision is to make specialty stores accessible to the public, where people can not only buy or sell cryptocurrencies, but also provide information, advice, or buy other physical products related to the cryptographic world. the function is to explain in as much detail as necessary what cryptocurrencies, blockchain and decentralized finance (DeFi) are,” the company, led by Alex Fernandez, explains in a statement.

Contacting Negosios, Bitbase clarified that in the short term, “in addition to the store in Lisbon, we would like to open another one in Porto, as well as install four crypto terminals in malls.” By the end of 2022, the company still aims to recruit and train “five to ten people.”

Bitbase’s big bet in Portugal will be on the franchise, a model that is widely adopted in Spain and forms a prominent part of the spaces that represent the brand. After Portugal, the company wants to enter the markets of Great Britain and Colombia.

The Spaniards are in direct competition with the Portuguese “cryptomas”

The new Bitbase store will be the second store of its kind to be opened in the country, as Criptoloja, one of the “children of crypto” licensed by Banco de Portugal last year and in the meantime acquired by the Brazilian giant 2TM, already has a face-to-face service faces on Avenida da Liberdade in Lisbon.

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In terms of ATMs, they will also compete directly with another Portuguese “crypto baby”, Mind the Coin, which already has six crypto terminals: Braga, Maia, Faro, Alverca, and now Lisbon and Gaia, according to data provided by company and confirmed by Negosios on the Coin ATM Radar platform.

When asked when he would start installing new machines in Porto and other cities, manager Fernando Guimarães replied that “there is no formal schedule, but as soon as a partnership arises, we are ready to do it.”

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City Center Covilhã will open its doors in 2023. The shopping center will cover an area of ​​18,000 square meters – Empresas



City Center Covilhã will open its doors in 2023.  The shopping center will cover an area of ​​18,000 square meters - Empresas

City Center Covilhã is due to open its doors in the second quarter of 2023, according to CBRE, the consulting company responsible for commercializing the commercial project. The real estate consulting firm said in a statement that the space is intended to “help increase investment at the gates of the city of Serra da Estrela.”

This shopping center, which will be located on the axis of the main road of Covilhã, will have a total area of ​​about 18,000 square meters and 14 stores, clarifies CBRE. In total, it will have two floors, “two of them with direct access from the arteries surrounding the project and parking for approximately 740 spaces, of which 242 are located on the surface.”

According to the newspaper O MIA, this project should create 600 jobs in the region. The project is promoted by Forumlar with Frontcity being the person responsible for the architecture. Forumlar’s directors, Artur Costa Pais and Paulo Ramos, have an investment portfolio of tens of millions of euros in consortium with other tourism, distribution and healthcare partners in the Serra da Estrela region.

“This type of project, which in some situations can be seen as an extension of street retail with additional parking valence for customer convenience, has proven to be an asset typology that is resilient to the negative effects of the pandemic,” explains Carlos Recio, director of retail advisory and transactional services at CBRE, quoted in the statement. .

“This feature was due, on the one hand, to the physical characteristics, since they are open spaces, large sizes and direct access to stores from the outside, which gives consumers a sense of security, and on the other hand, for the offer that they traditionally have, including some of the sectors of activity that were less affected by the drop in consumption.”

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