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Stone Says He’ll Win on Appeal After Sentence Is Commuted

Jul.13 — President Donald Trump issued a commutation for the prison sentence of Roger Stone late Friday. Stone was convicted of witness tampering and lying to Congress during the Russian election interference investigation. Stone is a political operative and long-time ally of Trump. Stone spoke to reporters in Florida on Saturday. …read more […]

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Pfizer, BioNTech Score Fast Track Status For Covid-19 Vaccine Candidates

Pfizer Inc (PFE) and BioNTech SE (BNTX) have announced that two of the companies’ four investigational Covid-19 vaccine candidates from their BNT162 mRNA-based vaccine program have received Fast Track designation from the U.S. Food and Drug Administration (FDA).Shares in Pfizer are up 3% in Monday’s pre-market trading, while BioNTech has soared 9%.The two candidates, BNT162b1 and BNT162b2, are the most advanced vaccine candidates in the BNT162 program currently being evaluated in ongoing Phase 1/2 clinical studies in the United States and Germany.Fast Track is a process designed to facilitate the development, and expedite the review, of new drugs and vaccines …read more […]

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Pfizer, BioNTech's coronavirus vaccine candidates get FDA's 'fast track' status

The candidates, BNT162b1 and BNT162b2, are the most advanced of the at least four vaccines being assessed by the companies in ongoing trials in the United States and Germany. Pfizer’s shares were up about 2% and U.S.-listed shares of BioNTech were up about 6% before the bell. Earlier this month, the companies said BNT162b1 showed potential against the virus and was found to be well tolerated in early-stage human trials. …read more […]

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Disney World Cautiously Reopens; Analyst Optimistic On Outlook

Walt Disney Co. (DIS) reopened its popular theme park, Disney World on July 10 after closing nearly four months ago as a result of the COVID-19 outbreak.The theme park reported attendance for its two areas, Magic Kingdom and Animal Kingdom with a combined 16,000 visitors for the reopening. This falls well below the pre-COVID average of nearly 100,000 people per day. Disney plans to reopen the remainder of its park on July 15.Disney’s stock was up 2% at market close on July 10 at $119.32 per share.Disney is requiring everyone in the park to wear a mask except for swimming …read more […]

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Equillium Explodes 260% On Positive Covid-19 Results; India Approval

Shares in biotech Equillium (EQ) have almost tripled in Monday’s pre-market trading after the company announced that a clinical trial conducted in India by its partner Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19.Equillium is currently developing itolizumab to treat severe autoimmune and inflammatory disorders. The stock is currently trading up 260% in the pre-market.Biocon also announced that the Drugs Controller General of India (DCGI) has granted restricted emergency use of itolizumab for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS) in India.Based on the …read more […]

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PepsiCo Reports Strong Snack Revenue, Sending Shares Higher

(Bloomberg) — PepsiCo Inc. reported stronger-than-expected sales and earnings in the second quarter as consumers kept stocking up on snack foods during the Covid-19 pandemic, sending the shares higher.The owner of the Mountain Dew and Doritos brands reported revenue of $16 billion in the three months ended June 13. Analysts’ average estimate was $15.4 billion. Earnings per share beat the highest estimate.As one of the first big packaged-food companies reporting results for the spring months, PepsiCo is being closely watched by investors for a look at how consumers are responding to 2020’s upheaval. The company is well-positioned because of its …read more […]

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Federal Reserve's $3 trillion virus rescue inflates market bubbles

The U.S. central bank has pledged unlimited financial asset purchases to sustain market liquidity, increasing its balance sheet from $4.2 trillion in February to $7 trillion today. While the vast majority of these purchases have been limited to U.S. Treasuries and mortgage-backed securities, the Fed’s pledge to bolster the corporate bond market has been enough to spur a frenzy among investors for bonds and stocks. The worse that COVID-19 gets, the better the markets do because the Fed will bring in stimulus. …read more […]