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☆ Wall Street climbs after worst weekly selloff of 2023
▼ + stars: | 2023-02-27 | by ( Sruthi Shankar | ) www.reuters.com time to read: +4 min

"February historically is the second worst month of the year for the stock market. So investors are concluding from a seasonal perspective that maybe stocks could rally at least in the near term." The yield on two-year notes , the most sensitive to short-term rate expectations, slipped after touching a near four-month high earlier in the session. After last week's hawkish comments from the Fed policymakers, investors will turn to Fed Governor Philip Jefferson's speech later in the day. Seagen Inc (SGEN.O) surged 12.2% after the Wall Street Journal reported that Pfizer (PFE.N) was in early talks to acquire the biotech firm.

☆ Wall Street set for opening gains after sharp weekly losses
▼ + stars: | 2023-02-27 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

Futures pointed to a recovery in sentiment on Monday as U.S. Treasury yields slipped after a strong rally. Rate-sensitive growth stocks such as Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O) climbed in premarket trading. So investors are concluding from a seasonal perspective that maybe stocks could rally at least in the near term." After last week's hawkish comments from the Fed policymakers, investors will turn to Fed Governor Philip Jefferson's speech later in the day. Seagen Inc (SGEN.O) surged 13.2% after the Wall Street Journal reported that Pfizer (PFE.N) was in early talks to acquire the biotech firm.

☆ Futures rise after Wall Street's worst weekly rout of 2023
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.41%, S&P 0.46%, Nasdaq 0.53%Feb 27 (Reuters) - Futures tracking the main U.S. indexes rose on Monday after Wall Street posted its worst weekly performance of 2023 on fears that the Federal Reserve would keep raising rates this year. Futures pointed to a slight recovery in market sentiment on Monday as some of the rate-sensitive growth stocks rose in premarket trading. ET, Dow e-minis were up 135 points, or 0.41%, S&P 500 e-minis were up 18.25 points, or 0.46%, and Nasdaq 100 e-minis were up 64 points, or 0.53%. Seagen Inc (SGEN.O) surged 14.9% after the Wall Street Journal reported that Pfizer (PFE.N) was in early talks to acquire the biotech firm. Reporting by Sruthi Shankar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ FDA says Guillain-Barre syndrome is possible risk of Pfizer's RSV vaccine for older adults
▼ + stars: | 2023-02-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Guillain-Barre syndrome, or inflammatory neuropathy, is a rare disorder in which the body's immune system mistakenly attacks the nerves. There was also a possible case of Guillain-Barre syndrome in GSK 's RSV vaccine trials, but the company said there was insufficient evidence to confirm a diagnosis. They will also vote Wednesday on GSK's RSV vaccine for older adults. The Guillain-Barre casesIn Pfizer's trial, a 66-year-old man in the U.S. with a history of hypertension developed Guillain-Barre symptoms seven days after vaccination. He was hospitalized again after suffering a fall and was subsequently diagnosed with Guillain-Barre Syndrome.

☆ Eli Lilly recruits Black patients for Alzheimer trial as drugmakers seek more diversity in clinical studies
▼ + stars: | 2023-02-16 | by ( Bertha Coombs | ) www.cnbc.com time to read: +4 min

Eli Lilly drove two mobile labs to the Black women's gathering, to recruit older Black women for a new trial. The drug maker developed the labs on wheels in 2020, to keep its clinical trials going in the first year of the Covid pandemic. A study by the Alzheimer's Association found that 62% of African Americans think clinical research is biased against people of color. Decentralized trialsFinding and enrolling patients can be among the most costly and time-consuming part of clinical trials. By 2021, while advertising remained the top source, social media replaced doctors as the second most-likely way trial participants learned about clinical studies.

☆ Pfizer/BioNTech, Moderna gear up for 2024 London trial over COVID vaccine patents
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ivan AlvaradoLONDON, Feb 16 (Reuters) - Pfizer Inc (PFE.N) and its German partner BioNTech SE (22UAy.DE) are gearing up for a 2024 trial with Moderna Inc (MRNA.O) at London's High Court in competing patent lawsuits over their rival COVID-19 vaccines. The case reached London's High Court for the first time for a preliminary hearing on Thursday, ahead of a trial which is due to take place in April 2024. Pfizer and BioNTech sued Moderna in London in September, seeking to revoke two of Moderna's patents in relation to its messenger RNA (mRNA) vaccines. Moderna brought its own lawsuit that month over Pfizer and BioNTech’s Comirnaty vaccine, seeking damages for alleged infringement of its patents. Pfizer, BioNTech and Moderna are also engaged in litigation in Germany, the Netherlands and the United States.

☆ Elon Musk mocked Sam Smith's much-discussed Grammys performance, tweeting, 'If that's satan, we have nothing to worry about'
▼ + stars: | 2023-02-08 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Elon Musk mocked Sam Smith's performance at the Grammys, in which they dressed as Satan. Smith's appearance has been widely attacked by prominent conservatives like Marjorie Taylor Greene. In the performance, Smith dressed like a cartoonish version of Satan, donning a top hat adorned with devil horns and a red latex outfit, while surrounded by red-robed worshippers. Smith's performance has attracted much attention from conservative figures including Republican Rep. Marjorie Taylor Greene, Donald Trump Jr., and Fox News host Tucker Carlson. Taylor Greene then shared a conspiracy theory about an abortion clinic in New Mexico, adding: "American Christians need to get to work."

☆ U.S. plans to stop buying Covid shots for the public this fall. Here's what that means
▼ + stars: | 2023-02-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

There is a federal program to provide free vaccines to children whose families or caretakers can't afford the shots. Sen. Bernie Sanders, I-Vt., slammed the vaccine price hike in a letter to Moderna's CEO last month. Under the ACA, private health insurance is required to cover all immunizations recommended by the CDC at no cost to the consumer. There may be a small number of legacy private health insurance plans from before the ACA that are not required to cover Covid vaccines, Cox said. Consumers could also see their health insurance premiums increase if Pfizer and Moderna hike the price of the shots, Cox said.

☆ Merck fourth quarter tops expectations on strong COVID pill sales
▼ + stars: | 2023-02-02 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

Feb 2 (Reuters) - Merck & Co (MRK.N) on Thursday reported higher-than-expected fourth-quarter earnings on strong sales of its COVID-19 antiviral pill molnupiravir in Asia. The U.S. drugmaker said its sales in the quarter were $13.83 billion, up from $13.52 billion a year earlier. Analysts had previously forecast around $825 million for 2023 molnupiravir sales. Pfizer (PFE.N) reported sales of around $18.9 billion for its antiviral treatment Paxlovid in 2022 and forecast 2023 sales of around $8 billion. The drugmaker forecast adjusted 2023 earnings of $6.80 to $6.95 a share on sales of $57.2 billion to $58.7 billion.

☆ Stocks making the biggest moves premarket: McDonald's, UPS, General Motors and more
▼ + stars: | 2023-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

The company reported an adjusted $2.12 per share on $43.11 billion in revenue. United Parcel Service – Shares of UPS rose 1.9% after the company reported earnings that beat analyst expectations. The company reported earnings of $3.86 per share, well below a Refinitiv consensus estimate of $4.06 per share. The company reported $3.63 in adjusted earnings per share on $5.17 billion of revenue. Wall Street analysts were expected $2.93 in earnings per share on $4.58 billion of revenue, according to StreetAccount.

☆ Earnings playbook: Apple and Google-parent Alphabet lead the busiest week of reports
▼ + stars: | 2023-01-29 | by ( Fred Imbert | ) www.cnbc.com time to read: +14 min

Tuesday General Motors is set to report earnings before the bell, followed by a conference call at 8:30 a.m. What history shows: Data from Bespoke Investment Group shows GM beats earnings expectations 85% of the time. McDonald's is set to report earnings before the bell, with company leadership set to hold a call 8:30 a.m. What history shows: Qualcomm has either beaten or matched analysts' earnings expectations in the last 32 quarters, according to FactSet. Alphabet is set to report earnings after the close, followed by a conference call at 4:30 p.m.

☆ Cheap quality stocks offer a smoother ride, according to Trivariate Research
▼ + stars: | 2023-01-27 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As investors worry about greater market volatility looming in 2023, Trivariate Research offers up some cheap, quality stocks that can be used to play defense. Yet investors struggle to find attractive stocks that are traditionally defensive, according to Trivariate Research. One way investors can find some attractive defensive names would be to look for cheap, quality stocks with low volatility. Pfizer is a defensive stock that is compellingly valued, according to the screen. Meanwhile, Check Point Software Technologies also looks like cheap quality, and was the only technology stock that met Trivariate's criteria, with a 0.63 beta.

☆ Stocks making the biggest moves premarket: Southwest, Tesla, Las Vegas Sands and more
▼ + stars: | 2023-01-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Tesla — The electric-vehicle maker soared 7% after reporting record revenue and an earnings beat. Wall Street analysts cited upbeat comments about its reopening in Macao on the company earnings call for their positive outlook on the stock. Levi Strauss topped analysts' revenue estimates and beat earnings projections by 5 cents a share. Total segment revenues fell short of expectations, while distributable earnings beat estimates by 12 cents a share. American Airlines — The airline gained 1.5% after its fourth-quarter profits beat Wall Street's expectations, thanks to strong holiday demand and high fares.

☆ UBS downgrades Pfizer, cites lower Covid expectations and a slow pipeline
▼ + stars: | 2023-01-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Analyst Colin Bristow downgraded shares to neutral from buy, and lowered his price target, citing weaker Covid expectations and a sluggish pipeline for new products. Pfizer shares are down more than 12% this year on expectations that the number and severity of Covid cases will stabilize. At the same time, UBS did not make any "meaningful changes" to its pipeline estimates for Pfizer following the firm's R & D day. The new target is just about in line with where Pfizer shares closed Wednesday at $44.66. "While we see minimal downside from here, the lack of catalysts (see inside) and potential for further downside to COVID estimates drives our move to the sidelines," Bristow wrote.

☆ Moderna, Pfizer's new race: The RSV vaccine FDA approval process
▼ + stars: | 2023-01-18 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

Both companies have released results from RSV vaccine trials with efficacy results strong enough to expect expedited approval from the FDA. The companies — which have been involved in litigation brought by Moderna alleging mRNA patent infringement, a claim Pfizer disputes — are both expected the FDA approval process for the RSV vaccine to occur soon. We can use the same, the same equipment and raw materials as the Covid vaccine." The RSV approval process is just one part of a widening vaccine industry for these two companies. "Every strain is treated as suspicious and we start working on it to see if it can overcome the vaccine," Bourla said.

☆ Wells Fargo downgrades Pfizer, says the stock needs a 'Covid reset' to work again
▼ + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Shares of Pfizer need a reset from the Covid-19 pandemic before they will work again, according to Wells Fargo. "We think PFE needs a COVID reset before the stock could work again," analyst Mohit Bansal wrote in a note. Lower revenue, higher expenses Wells Fargo lowered its 2023-2025 earnings per share estimates on the company due to lower Covid revenues and higher expenses. Even including China demand, Wells Fargo is below consensus on the drug, seeing limited opportunity in the country without national reimbursement. The Covid reset could happen when guidance is provided on the company's fourth-quarter 2022 earnings call, Bansal said.

☆ Stocks making the biggest moves premarket: Goldman, Pfizer, Cheesecake Factory, Alibaba and more
▼ + stars: | 2023-01-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Goldman Sachs — The bank slid more than 2% after reporting earnings-per-share and revenue that missed Wall Street estimates Tuesday. Morgan Stanley — Morgan Stanley's earnings topped Wall Street expectations Tuesday, thanks, in part to record wealth management revenue. Global Payments — Morgan Stanley upgraded Global Payments to overweight from equal weight on Tuesday, citing a more favorable competitive backdrop and attractive valuation, among other things. Church & Dwight — Morgan Stanley upgraded the consumer goods maker to overweight from equal weight and boosted its price target to $91 from $82. Alibaba — Activist investor Ryan Cohen built a stake in the Chinese e-commerce giant, according to the Wall Street Journal.

RSV, which produces symptoms similar to a cold but can be fatal for young children and older adults, causes about 14,000 deaths annually in adults ages 65 and older. Moderna, Pfizer Inc (PFE.N) and GSK Plc (GSK.L) are racing to get their RSV vaccines to market first. Pfizer's RSV vaccine was found to be 66.7% effective against two or more symptoms in late-stage trials. "It's very exciting to see progress in RSV vaccines in older adults, and I think both of those vaccines have shown pretty remarkable results as well," Hoge said. The RSV vaccine market could be worth more than $10 billion globally, half of which would come from the United States, according to Cowen analyst Tyler Van Buren.

☆ Chinese hospital says half of its staff got Covid
▼ + stars: | 2023-01-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Locals line up for medical treatment at the Beijing Hospital of Traditional Chinese Medicine on June 1, 2022. CFOTO | Future Publishing | Getty ImagesBEIJING — About half of the nearly 2,000 workers at the Beijing Hospital of Traditional Chinese Medicine got Covid-19 during the latest wave, director Liu Qingquan said Wednesday. Liu told reporters the workers all recovered by taking traditional Chinese medicine. China has encouraged the use of traditional Chinese medicine alongside Western treatment for Covid. Rather than pharmaceutical drugs, traditional Chinese medicine relies on herb-based remedies and natural methods to help the body heal itself.

☆ Sen. Bernie Sanders urges Moderna not to hike price of Covid-19 vaccines
▼ + stars: | 2023-01-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Sen. Bernie Sanders on Tuesday urged Moderna not to quadruple the price of its Covid-19 vaccine once distribution of the shots moves to the commercial market. In a letter to Moderna CEO Stephane Bancel, Sanders called the price increase "outrageous." Private health insurance premiums would also rise as a consequence of a vaccine price hike , Sanders wrote. Pfizer is also considering raising the price of its Covid vaccine to $110 to $130 per dose. Moderna's Covid vaccine is the company's only commercially available product.

The law targets fraud and abuse, such as bribery, in federal healthcare programs including Medicare, which provides coverage for the elderly and disabled. Pfizer contends the government's interpretation of the law was blocking access to critical medical care. New York-based Pfizer's medication, also known as tafamidis, treats a rare heart condition known as transthyretin amyloid cardiomyopathy that can lead to progressive heart failure. Given the drug's high price, patients would need to bear yearly co-payments of roughly $13,000, with Medicare covering the rest. Pfizer's proposal sought to assist "middle-income" patients who do not qualify for low-income co-pay support but might still be deterred by its cost.

HONG KONG/BEIJING, Jan 6 (Reuters) - China is in talks with Pfizer Inc (PFE.N) to secure a licence that will allow domestic drugmakers to manufacture and distribute a generic version of the U.S. firm's COVID-19 antiviral drug Paxlovid in China, three sources told Reuters. In February last year, China approved Paxlovid, which was supposed to be largely available via hospitals, to treat high-risk patients in several provinces. Pfizer last month reached an agreement to export Paxlovid to China through a local company to make the medicine more widely available. A Pfizer spokesperson said the company is actively collaborating with Chinese authorities and all stakeholders to secure an adequate supply of Paxlovid in China. That licence does not allow the companies to sell generic Paxlovid in China.

☆ Health-care stocks are looking good for 2023 and not just because the sector is a 'safe haven'
▼ + stars: | 2022-12-21 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Investors looking for cover this year would have done well if they sought a safe haven in large-cap pharmaceutical stocks, a trend that is likely to continue into 2023. The Inflation Reduction Act provided some clarity around drug pricing that should help health-care stocks. The average price target, according to FactSet, is $62, or nearly 40% above the stock's closing price on Tuesday. Gene therapies in focus Investors will be closely watching the progress of several gene therapies, according to Phipps. "Yes, these are expensive therapies," Phipps said.

☆ Fact Check-Pfizer CEO is not resigning and did not say mRNA vaccines 'don’t work'
▼ + stars: | 2022-12-13 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Social media users in early December 2022 have falsely claimed that Albert Bourla, the CEO of Pfizer, has resigned after allegedly saying that mRNA vaccines are unsafe and ineffective. A Pfizer spokesperson told Reuters via email, “Albert Bourla continues to serve as the chairman and CEO of Pfizer. Multiple studies have shown that mRNA vaccines are safe and effective (here), (here), (here), (here). Pfizer confirmed that CEO Albert Bourla is not resigning. Update Dec. 16, 2022: Updates headline to clarify that Albert Bourla is not resigning and did not say mRNA COVID-19 vaccines don’t work.

☆ Goldman Sachs upgrades Pfizer, says pharma giant can outperform even as Covid demand diminishes
▼ + stars: | 2022-12-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Pfizer 's work on new products will help the company maintain its Covid momentum even as vaccine becomes a smaller business element, Goldman Sachs said Tuesday. Analyst Chris Shibutani upgraded the stock to buy from neutral with a price target of $60, which reflects a 15% upside over Monday's close. His previous price target of $47 indicated the stock would fall from Monday's close. But he said the diversity within Pfizer's pipeline bolsters optimism that the company can perform even if it has a Covid trough. Outside its the company's Covid offerings, Shibutani sees potential in its late-stage growth offerings including the RSV vaccine, Nurtec for migraines and Oxbryta within the sickle cell space.

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