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☆ History shows the best trade has usually been to buy the stock getting kicked out of the Dow Industrials
▼ + stars: | 2024-02-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

If history is any guide, Walgreens Boots Alliance may fare better after getting tossed from the Dow Jones Industrial Average . In fact, data shows that betting on a stock that's leaving the Dow is often a better trade for investors than buying shares of a stock that's entering the 127-year-old average. What history shows Alcoa was the best-performing stock among the last 10 outgoing Dow members. For example, Honeywell International surged more than 40% one year after joining the Dow, while UnitedHealth rallied nearly 28%. General Electric , the last of the original 12 Dow stocks, plunged about 58% one year after leaving the average in 2018.

Persons: bode, Ned Davis, Goldman Sachs, —, Amgen —, UnitedHealth, DuPont de Nemours, Fred Imbert Organizations: Walgreens Boots, Dow Jones, Walgreens, Dow, General Electric, WBA, CNBC Pro, Ned Davis Research, NDR, Alcoa, HP, Bank of America, Nike, Visa, RTX Corporation, Exxon Mobil, Pfizer, Apple, Honeywell International, DuPont de Locations: U.S

☆ These option plays can hedge against a reversal in stock market momentum, Goldman says
▼ + stars: | 2024-02-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

John Marshall of Goldman's derivatives research team said in a Feb. 22 note that investors can use options to position for a reversal in the momentum trade. Goldman's approach to hedging momentum is two-pronged: buying put options on high momentum stocks, and buying call options on "anti-momentum" stocks. "If a true momentum reversal were to occur, we see the potential to profit on both sides of the trade," Marshall wrote. Goldman has a sell rating on SkyWest and a neutral rating on Palantir. On the other leg of the trade, Goldman identified stocks with buy ratings from its analysts that have fallen over the past 12 months.

Persons: Goldman Sachs, John Marshall, Marshall, Goldman Organizations: Nvidia, Goldman, SkyWest, Pfizer

☆ Here are Friday's biggest analyst calls: Rivian, DraftKings, Nio, Fox, Carvana, Pfizer and more
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: UBS double-downgrades Rivian The firm said to sell the electric vehicle maker's stock, joining a growing group of concerned analysts following the company's earnings report. Raymond James upgrades Carvana The investment bank moved Carvana to market perform from underperform following the fourth-quarter earnings results. Guggenheim initiates Pfizer The firm opened coverage of the biopharmaceutical stock with a buy rating and $36 price target. " Rosenblatt initiates Adeia The firm began coverage with a buy rating and $15 price target. Roth MKM initiates CPI Card Group Roth MKM started coverage of the financial technology stock with a buy rating and $40 price target.

Persons: Ross, ROST, Raymond James, EBITDA, 4Q23, Guggenheim, ATNI, Morgan Stanley, Brighthouse, Rosenblatt, Roth MKM, Fred Imbert Organizations: UBS, Barclays, CNBC, Citi, Fox, JV, Ross, Price, Pfizer, DRG, Equitable, JPMorgan, Traction, JPMorgan downgrades Locations: 1Q24, Xperi, 4Q22

☆ Pfizer's expectations have been rightsized, has potential for $5 EPS: Cantor Fitzgerald's Chen
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPfizer's expectations have been rightsized, has potential for $5 EPS: Cantor Fitzgerald's ChenLouise Chen, Cantor Fitzgerald, and Michael Yee, Jefferies, joins 'Power Lunch' to discuss Chen's bull case for Pfizer, Yee's bull case for Moderna, and more.

Persons: Fitzgerald's Chen Louise Chen, Cantor Fitzgerald, Michael Yee, Jefferies Organizations: Pfizer, Moderna

☆ The Rainmakers: These 20 bankers rode a choppy deals market to top the M&A charts in 2023
▼ + stars: | 2024-02-21 | by ( Alex Morrell | Reed Alexander | ) www.businessinsider.com time to read: +4 min

In 2023, the overall value of M&A transactions dipped globally to $2.9 trillion across 53,529 deals, down from $3.4 trillion across 57,830 transactions in 2022. Business Insider partnered with MergerLinks , a financial-data service that tracks deals, to present the fifth edition of "The Rainmakers," the 20 M&A bankers who orchestrated the largest deals in North America. MergerLinks tracks publicly announced deals and calculates deal values on a net basis, including both equity and debt pieces. This year’s list has a mix of returnees and first-timers and was dominated by energy bankers, including Goldman’s Sikhtian and Morgan Stanley’s Hoover. Nearly half of the bankers on this year's list worked on energy deals.

Persons: —, Scott Sheffield, Goldman Sachs, Suhail Sikhtian, Morgan Stanley, Greg Weinberger, Aaron Hoover —, Patrick Ramsey, Claudio Sauer, Hess, Goldman’s Sikhtian, Morgan Stanley’s Hoover Organizations: Service, Pioneer Natural Resources, ExxonMobil, Sheffield, Pioneer, Exxon, Business, Centerview Partners, LSEG, MergerLinks, Chevron, Centerview, Health Partners, Pfizer, & $ Locations: Sheffield, Texas, North America

☆ Federal judge tosses lobbying group's lawsuit challenging Medicare drug price negotiations
▼ + stars: | 2024-02-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The decision is an early win for the Biden administration as it grapples with a flurry of other legal challenges that drugmakers have filed against the Medicare drug price negotiations. The judge's ruling won't end the legal battle over the policy, which could end up at the Supreme Court. A slate of major companies with drugs selected for negotiations, including J&J, Merck , and Bristol Myers Squibb , have filed separate lawsuits challenging the constitutionality of the price talks. The suit also argued that the price talks violate the Eighth Amendment because they include a "crippling" excise tax aimed at forcing drugmakers to accept the government-dictated price of medicines. The groups also argued that the price talks violate due process by denying pharmaceutical companies and the public input on how Medicare negotiations will be implemented.

Persons: Biden, drugmakers, Judge David Ezra of, Ezra, NICA's, Nicole Longo, PhRMA, Eli Lilly, Johnson, NICA Organizations: U.S . Department of Health, Human Services, Supreme, Medicare, Western, Western District of Texas, Pharmaceutical Research, Manufacturers of America, Global Colon Cancer Association, National, Center Association, CNBC, Pfizer, Johnson, Merck, Bristol Myers Squibb, Chamber of Commerce, Department of Health, Department of Justice Locations: Washington ,, Western District, PhRMA, Ohio

☆ Here's why we would be considering buying more Eli Lilly shares if they were down Tuesday
▼ + stars: | 2024-02-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. If Lilly shares weren't climbing higher in Tuesday's down market, we would consider buying more, given the solid fundamentals and serious growth prospects. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we're, Jefferies, Palo, Eli Lilly's, Eli Lilly, We're, —, Lilly, Jim Cramer's, Jim Organizations: CNBC, Dow, Nasdaq, Wall, Palo Alto Networks, Jefferies, Palo, Pfizer, Novo Nordisk Locations: Palo Alto

☆ Trump Complains About Possible Biden Endorsement From Taylor Swift
▼ + stars: | 2024-02-11 | by ( Maggie Astor | More About Maggie Astor | ) www.nytimes.com time to read: +1 min

Extending a weekslong right-wing meltdown over Taylor Swift’s political preferences, former President Donald J. Trump declared on Sunday that it would be “disloyal” for Ms. Swift to endorse President Biden for re-election, given that Mr. Trump signed legislation that made it easier for artists to collect royalties when their songs are streamed. “I signed and was responsible for the Music Modernization Act for Taylor Swift and all other Musical Artists,” Mr. Trump wrote on his social media platform, referring to a 2018 bill that passed Congress with near unanimous support from members of both parties. “Joe Biden didn’t do anything for Taylor, and never will. Swift urged her fans to register to vote and tens of thousands obliged, and since Mr. Kelce appeared in a Pfizer ad campaign urging people to get Covid and flu vaccines.

Persons: Taylor, Donald J, Trump, ”, Swift, Biden, “, Taylor Swift, ” Mr, “ Joe Biden didn’t, Crooked Joe Biden, Travis, — Travis Kelce, Kelce Organizations: Liberal, Kansas City Chiefs, Pfizer

☆ Weight loss drugs are still hard to find — but Novo Nordisk and Eli Lilly are trying to change that
▼ + stars: | 2024-02-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +8 min

Victoria Klesty | ReutersThe insatiable demand for weight loss drugs is trouncing supply, leaving many patients struggling to find the injectable treatments. The dominant weight loss drugmakers, Novo Nordisk and Eli Lilly , have said supply woes likely won't go away anytime soon, as the popularity of those medicines continues to soar. Some Wall Street analysts project that the weight loss drug market could be worth $100 billion by the end of the decade. But both Novo Nordisk and Eli Lilly gave updates on positive supply developments to investors over the last week. Other forms of weight loss drugs could helpAlternative forms of weight loss drugs could also help alleviate supply constraints in the future.

Persons: Victoria Klesty, Eli Lilly, Cantor Fitzgerald, Louise Chen, Nordisk's Wegovy, Eli Lilly's Zepbound, Goldman Sachs, Jeff Friedman, Novo, Mike Segar, Eli, Catalent, Yves Herman Yves Herman, TD Cowen, Michael Nedelcovych, Anat Ashkenazi, Cantor Fitzgerald's Chen, Morgan Stanley, Eli Lilly's, George Frey Organizations: Novo Nordisk, CNBC, Nordisk's, University of Florida, Pfizer, AstraZeneca, Roche, Food, Nordisk, Company, FDA, Novo Holdings, Wegovy, REUTERS, Reuters, U.S Locations: Oslo, Norway, Novo, U.S, Branchburg , New Jersey, Brussels, Belgium, Catalent, Concord , North Carolina, North, Germany, Indiana, Denmark, France

☆ Opinion | How the N.F.L. Became a Juggernaut of Entertainment
▼ + stars: | 2024-02-09 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

The National Football League, founded in 1920, was an unpopular pipsqueak 90 or so years ago. The college player who went first in the 1936 draft, a Heisman Trophy winner, decided to become a foam rubber salesman instead of turning pro. began to change the rules of the game in a way that encouraged passing, made scoring easier and elevated the role of strategy. Sunday’s Super Bowl is pretty much certain to be the most-watched televised event of 2024; N.F.L. With that kind of viewership, it’s no surprise that the N.F.L.

Organizations: National Football League, Nielsen, Forbes, IBM, Nike, Pfizer

☆ One of Wall Street's favorite ways to control workers is under attack
▼ + stars: | 2024-02-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.

Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, —, Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts

☆ Google rebrands Bard AI to Gemini and launches a new app and subscription
▼ + stars: | 2024-02-08 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Google on Thursday announced a major rebrand of Bard, its artificial intelligence chatbot and assistant, including a fresh app and subscription options. Google also announced new ways for consumers to access the AI tool: As of Thursday, Android users can download a new dedicated Android app for Gemini, and iPhone users can use Gemini within the Google app on iOS. Likewise, chief executives at tech giants from Microsoft to Amazon underlined their commitment to building AI agents as productivity tools. Google's Gemini changes are a first step to "building a true AI assistant," Sissie Hsiao, a vice president at Google and general manager for Google Assistant and Bard, told reporters on a call Wednesday. Currently, though, the tools, including Gemini, are largely limited to tasks such as summarizing, generating to-do lists or helping to write code.

Persons: Bard, OpenAI's, Sundar Pichai, Pichai, Sissie Hsiao, There's, Google's Hsiao, Hsiao Organizations: Google, Bard, Microsoft, GE, Spotify, Pfizer, Gemini Locations: Korean

☆ Kansas City Stars, With Help From Taylor Swift, Are Advertising Champs
▼ + stars: | 2024-02-08 | by ( Santul Nerkar | ) www.nytimes.com time to read: +1 min

The Kansas City Chiefs enter Sunday’s Super Bowl having already won — when it comes to commercials. Over the past year, the star players Patrick Mahomes and Travis Kelce, along with Coach Andy Reid, have been inescapable to TV viewers. The estimated amount spent to air the ads on television was $178 million for Mr. Mahomes, $120 million for Mr. Kelce and $69 million for Mr. Reid, according to iSpot.tv, an ad measurement company. Because there were several commercials in which at least two of the three appeared, the dollar totals have some overlap. Basically, the more spend an ad has, the more viewers are seeing it.

Persons: Patrick Mahomes, Travis Kelce, Andy Reid, Kelce baring, Mahomes, Reid, Kelce, ”, Cassandra Arora, Deion Sanders, Nick Saban, Christian McCaffrey, Brock Purdy Organizations: Kansas City Chiefs, Sunday’s, Pfizer, National Football League, “ Brands, Chiefs, University of Colorado’s, University of Alabama, 49ers, Toyota Locations: San Francisco

And yet, an antiviral treatment proven to lessen the chances of severe outcomes is going underused. The drug, Paxlovid, is lauded by experts as a powerful tool that can prevent hospitalization and death from COVID-19. One Centers for Disease Control and Prevention study found that Paxlovid can decrease hospitalization risks among adults by 51%. The study by Harvard researchers found that Paxlovid was disproportionately given to Medicare patients with lower risk of severe infection. “There are very few medications and very few patients whose potential medication interaction with Paxlovid is so severe that they’re better off not taking Paxlovid,” he said.

Persons: they’ve, ”, Amesh, Paxlovid, Kurt Proctor, Celise Ballow, Ballow, “ I’m, I’m, … I’m, ” Ballow, ’ ”, Sarah George, Michael Barnett, Robert Wood Johnson Organizations: Johns Hopkins University, Disease Control, Pfizer, National Community Pharmacists Association, St, Louis University, Harvard, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: COVID, U.S, Junction , Utah, Paxlovid, Harvard

For some people with COVID-19, antiviral pills that can be taken at home can lessen the chances of winding up in the hospital. Here’s how to get the pills in the U.S.:— Take an at-home COVID-19 test and contact your health care provider. Photos You Should See View All 45 Images— Use a test-to-treat site, where pharmacists can check if you have COVID-19, write the prescription and give you the pills all in one stop. Find a test-to-treat site at treatments.hhs.gov. Paxlovid is the most commonly prescribed antiviral pill for COVID-19.

Persons: Paxlovid, Robert Wood Johnson Organizations: National Institutes of Health’s, Pfizer, Associated Press Health, Science Department, Robert Wood Johnson Foundation, AP Locations: U.S, treatments.hhs.gov

☆ Opinion | Taylor Swift and the Profound Weirdness of MAGA
▼ + stars: | 2024-02-04 | by ( David French | ) www.nytimes.com time to read: +2 min

That’s a key lesson of the MAGA right’s deeply strange turn against Taylor Swift and her boyfriend, the Kansas City Chiefs’ star tight end Travis Kelce. In fact, that’s a key lesson from this entire sorry era in American political and cultural life. Even as he condemned Swift, one prominent MAGA figure recently boasted that his “side” still had Kid Rock, Ted Nugent and Jon Voight. According to them, Taylor Swift’s extraordinary popularity isn’t the organic outcome of a talented and appealing superstar’s bond with her fans. No, according to them, Swift’s rise is an “op” or a “psyop” engineered by the deep state in order to benefit Joe Biden.

Persons: Hatred, MAGA, Taylor Swift, Travis Kelce, Swift, Phil Bredesen, Republican Marsha Blackburn, Joe Biden, Kelce, “, Laura Ingraham’s, Rock, Ted Nugent, Jon Voight, Ronald Reagan, Donald Trump, can’t, Taylor Organizations: Kansas City Chiefs, Democratic, Senate, Republican, Pfizer, —, Fox News, Dixie Locations: Tennessee, MAGA America

☆ Bristol Myers Squibb results top estimates as new drugs post strong sales growth
▼ + stars: | 2024-02-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Bristol Myers Squibb reported quarterly earnings and revenue that topped expectations on Friday as its portfolio of new drugs posted strong sales growth. That group raked in $1.07 billion in sales for the quarter, up 66% from the $645 million for the year-earlier period. While its revenue outlook was in line with Wall Street estimates, it anticipates higher than expected earnings for the year. Analysts surveyed by LSEG expect full-year adjusted earnings of $7 per share and sales growth of 1.9%. Bristol Myers said Eliquis and Opdivo also contributed to the slight sales growth in the fourth quarter.

Persons: Bristol Myers, Revlimid, Eliquis, Opdivo, FactSet Organizations: Bristol Myers Squibb, LSEG, Bristol Myers, Wall, Bristol, Pfizer, Medicare

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ US Government Sends Initial Offers for Medicare Drug Price Cuts
▼ + stars: | 2024-02-01 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The Biden administration is sending drugmakers opening offers for the U.S. Medicare program's first ever price negotiations on Thursday, the White House said in a statement. President Joe Biden's signature Inflation Reduction Act (IRA) allows Medicare, which covers 66 million Americans mostly aged 65 and older, to negotiate prices for some of its most costly drugs. The initial offers have been sent to manufacturers of 10 high-cost medicines, which include Bristol Myers Squibb and Pfizer's blood thinner Eliquis, Merck & Co's diabetes drug Januvia and Johnson & Johnson's blood thinner Xarelto. The HHS and White House did not disclose details on the offers. (Reporting by Urvi Dugar and Sriparna Roy in Bengaluru; Editing by Toby Chopra and Sriraj Kalluvila)

Persons: Biden, Medicare program's, Joe Biden's, Januvia, Johnson, Urvi Dugar, Sriparna Roy, Toby Chopra, Sriraj Organizations: Reuters, U.S, Medicare, U.S . Department of Health, Human Services, Bristol Myers Squibb, Merck, HHS, White Locations: Bengaluru

☆ Goldman gives this innovative cancer-fighting biotech nearly 70% upside
▼ + stars: | 2024-02-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Biotech company Arvinas could see its shares rally from a potential medium- to long-term commercial opportunity, according to Goldman Sachs. The firm initiated coverage on Arvinas with a buy rating and price target of $70. That suggests 68.7% upside potential from where shares closed Wednesday. According to analyst Paul Choi, breast cancer drug vepdegestrant (ARV-471), which is being co-developed by Arvinas and Pfizer , presents an "underappreciated" commercial opportunity. Arvinas has a "differentiated protein degrader platform that could expand several major markets," Choi wrote in a Thursday note.

Persons: Goldman Sachs, Paul Choi, Arvinas, Choi, — CNBC's Michael Bloom Organizations: Biotech, Arvinas, Pfizer

☆ GSK posts blowout RSV vaccine sales, raises outlook as shots give big pharma a boost
▼ + stars: | 2024-01-31 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

GlaxoSmithKline on Wednesday lifted its long-term outlook following the smash-hit launch of its new RSV vaccine. GSK in November had forecast 2023 sales for the shot Arexvy between £900 million, or $1.1 billion, and £1 billion, or $1.26 billion, following its strong launch in the U.S. The company's RSV shot in part drove the higher forecast. The vaccine has about 70% market share for RSV, Walmsley added on Wednesday. Meanwhile, biotech company Moderna hopes to launch its own RSV vaccine this year.

Persons: Emma Walmsley, Walmsley, Arexvy, That's, Pfizer's, Albert Bourla, Bourla Organizations: GlaxoSmithKline, Stevenage, GSK, U.S, Pfizer, U.S . Food, Drug Administration, Moderna Locations: Britain, British, U.S, Canada, Japan

☆ Here’s the real reason why right-wing media figures are targeting Taylor Swift and Travis Kelce
▼ + stars: | 2024-01-31 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

From a bird’s eye view, the state of affairs among MAGA Media diehards as it sits today is remarkable. In fact, right-wing media stars have far more power over the GOP’s direction than most of its actual leaders, like Mitch McConnell. The right-wing media kingdom thrives when Democrats are in office and there are political opponents whom they can demonize. That’s not to say the right-wing media machine holds no power. And polling indicates that a good chunk of the country has bought some of the nonsense MAGA Media has been relentlessly selling.

Persons: MAGA Media diehards, Bud Light, Taylor Swift, Swift, Travis, Charlie Warzel, “ They’ve, they’re, ” Warzel, Evan Siegfried, Mitch McConnell, Don’t, Kevin McCarthy, Donald Trump, That’s, MAGA, Alyssa Farah Griffin, “, ” Organizations: New York CNN — Conservatives, MAGA Media, Disney, Pfizer, Major League Baseball, Fox, Fox News, GOP, Republican Party, Republicans, Media, Trump White House Locations: New York

The budding love story featuring music superstar Taylor Swift and Kansas City Chiefs’ tight end Travis Kelce took an unexpected turn into the world of political conspiracy theories this week after the team advanced to the Super Bowl. Pop culture and politics have long been entwined. “Pop culture people identify with this stuff, they pay attention to it. It’s attention and identity,” Joel Penney, an associate professor at Montclair State University whose research includes the intersection of politics and pop culture, said. “That question of, does this stuff work in pop culture?

Persons: Taylor Swift, Travis Kelce, Swift, Joe Biden, Vivek Ramaswamy, Laura Loomer, Alison Steinberg, Kelce, ” Joel Penney, Donald Trump's, Penney, Biden, “ Young, ”, Henry Jenkins, they’re, Phil Bredesen, Jim Cooper, Marsha Blackburn, Blackburn, Kamala Harris, ” Kelce, Bill Clinton, Johnny Cash, Mary Tyler Moore, Willie Nelson, Jimmy Carter, Ronald Reagan, ” Penney Organizations: Kansas City Chiefs, Super, Chiefs, Republican, America News Network, Montclair State University, University of Southern, Tennessee’s Democratic, Democratic House, U.S . Rep, V, Centers for Disease Control, Pfizer, MTV, White Locations: Las Vegas, U.S, University of Southern California, America, Arkansas

☆ Pfizer beats earnings estimates as declining Covid business loses less revenue than expected
▼ + stars: | 2024-01-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer on Tuesday posted a surprise adjusted fourth-quarter profit, as the company's declining Covid business performed better than expected. The company reversed roughly $3.5 billion in revenue related to the expected return of 6.5 million doses of its Covid drug, Paxlovid, from the U.S. government. That hit is less than the $4.2 billion Pfizer initially expected for the return of nearly 8 million doses of Paxlovid. Pfizer's Covid vaccine raked in $5.36 billion in revenue for the quarter, down 53% from the same period last year. For the fourth quarter, Pfizer booked a net loss of $3.37 billion, or 60 cents per share.

Persons: Paxlovid, That's Organizations: Pfizer, U.S ., Analysts, LSEG Locations: U.S

The New York drugmaker also said Tuesday it's reaffirming its forecast for 2024, a month after surprising Wall Street with an initial outlook that missed consensus. In the fourth quarter, Pfizer said it booked 8% operational revenue growth outside its market-leading COVID vaccine, Comirnaty, and treatment, Paxlovid. Comirnaty sales tumbled 53% in the quarter to $5.4 billion, and Pfizer took a $3.1 billion hit from Paxlovid for a revenue reversal. It included sales expectations for its COVID-19 products that fell more than $5 billion short of expectations. The company had previously scaled back its sales expectations for 2023, which sent Pfizer shares plunging and contributed to a rough year for the stock.

Persons: Pfizer, York drugmaker, it's Organizations: Pfizer, Pfizer Inc Locations: York

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