EbeneInfo – United States – Vaccine, AstraZeneca, Tesla, Regeneron – 5 things to know on Monday

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    Equity futures rose on Monday as investors welcomed further progress in developing a coronavirus vaccine, but struggled to ignore rising infection rates and brakes on businesses that could hamper economic recovery

    Contracts linked to the Dow Jones Industrial Average gained 197 points, S&P 500 futures gained 20 points and Nasdaq futures gained 43 points

    The Covid-19 vaccine candidate under development by AstraZeneca (AZN) – Get Report and the University of Oxford was discovered in a large trial to have prevented a majority of people from contracting the disease

    Meanwhile, Moncef Slaoui, Operation Warp Speed’s chief scientific advisor, said some Americans could start receiving a Covid-19 vaccine by mid-December

    The positive developments come as cases of Covid-19, the disease caused by the coronavirus, surpass 122 million in the US over the weekend, according to Johns Hopkins University, and deaths in the US approached 257000

    Shares ended lower on Friday amid growing fears of further economic damage from the coronavirus pandemic and the Treasury Department’s sharp cut in emergency economic programs

    The S&P 500 fell 08% for the week, ending a two-week winning streak The Nasdaq gained 02% last week

    AstraZeneca said on Monday that advanced-stage trials of its coronavirus vaccine it conducted with the University of Oxford found the treatment to be up to 90% effective in preventing the disease

    The average efficacy rate was 70% But when a half dose of the vaccine was followed by a full dose a month later, it showed an efficacy of 90%

    « We see a lot of merit in this regimen and we will now enter into discussions with regulators to incorporate this combination of doses for further clinical investigation, » said a spokesperson for AstraZeneca

    The plans developed by Pfizer (PFE) – Get Report and its German partner, BioNTech (BNTX) – Get Report, and separately by Moderna (MRNA) – Get Report, were found to be 95% and 945% effective , respectively, in advanced stage trials

    Pfizer said on Friday it had applied to the Food and Drug Administration for emergency use authorization for its vaccine

    Regeneron Pharmaceuticals (REGN) – Get Report has received emergency use clearance from the Food and Drug Administration for its investigational treatment with Covid-19 antibodies

    Over the weekend, the FDA approved Regeneron, casirivimab and imdevimab treatments, which the agency says can now be given together to treat mild to moderate illness in people over the age of 12 years

    A clinical trial in patients infected with the coronavirus has shown that casirivimab and imdevimab, when given together and given as an intravenous infusion, reduce Covid-19-related hospitalizations in high-risk patients in 28 days after treatment versus placebo, according to FDA

    But, the FDA noted, the safety and efficacy of the therapy « continues to be evaluated » and the antibody cocktail is not allowed for patients already hospitalized with Covid-19 or requiring oxygen therapy

    Revenue reports are due Monday from Urban Outfitters (URBN) – Get Report and Warner Music Group (WMG) – Get Report Later in the week, reports are expected from Best Buy (BBY) – Get Report, Deere (DE) – Get Report, Dollar Tree (DLTR) – Get Report, Gap (GPS) – Get Report, Nordstrom (JWN) – Get Report, HP Inc (HPQ) – Get Report, VMware (VMW) – Get Report, Dick’s Sporting Goods (DKS) – Get Report and Abercrombie & Fitch (ANF) – Get Report

    The economic calendar in US Monday includes the Chicago Fed’s national activity index for October at 8:30 am ET and the Composite Flash PMI for November at 9:45 am

    Reports on consumer confidence, third quarter gross domestic product, new home sales, durable goods orders and jobless claims will be released later this week The Federal Reserve will also release the minutes of its meeting in early November

    Tesla’s (TSLA) – Get Report price target raised to $ 560, from $ 500 at Wedbush, with the bull case now set at $ 1,000, from $ 800

    Wedbush’s Daniel Ives says Tesla will likely hit its target of one million deliveries by 2023, with 2022 not out of the question

    Ives said the Tesla bull story is « now focused on an increased trajectory of (electric vehicle) demand through 2021

    “Overall, we are seeing a major inflection in demand for electric vehicles around the world, with our expectation that electric vehicles will drop from around 3% of total auto sales today to 10%. by 2025, ”said Ives, adding that China could account for around 40% Tesla’s electric vehicle deliveries by 2022

    Stock rose 169% to $ 497.90 in pre-market trading Tesla shares have gained nearly 485% so far in 2020

    Tesla, Inc, NASDAQ: TSLA, Stock, NASDAQ, Wedbush Securities, Regeneron Pharmaceuticals, AstraZeneca, Morgan Stanley

    EbeneInfo – United States – Vaccine, AstraZeneca, Tesla, Regeneron – 5 things to know Monday

    Source: https://www.thestreet.com/markets/5-things-you-must-know-before-the-market-opens-monday-112320

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