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Pfizer warns of hit to financial results on continued coronavirus outbreak

The outbreak could have an impact on the company’s manufacturing, supply chain and clinical trial operations, Pfizer said under the risk factors section of a regulatory filing. The outbreak that began in Wuhan at the end of last year has killed over 2,700 in China, with over 78,000 confirmed cases of infection, and has now spread to several other countries. Merck & Co on Wednesday said the outbreak has negatively affected some of its clinical trials and has seen a limited effect on its supply chain of drugs into and raw materials out of China. …read more […]

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California Monitoring Travelers; Mask Production: Virus Update

(Bloomberg) — California is currently monitoring 8,400 people for signs of exposure to the coronavirus after they traveled to Asia, Governor Gavin Newsom said. Thousands of people around the U.S. have been asked to self-isolate or check themselves for symptoms since the U.S. put new limits on travel earlier this month.The Trump administration may invoke special powers to boost domestic production of masks, Reuters reported. In Washington, Health and Human Services Secretary Alex Azar said that any drug or vaccine developed by companies with help from the U.S. government must be financially accessible.Goldman Sachs Group Inc. slashed its outlook for …read more […]

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Never Bet Against America

Declinism is a uniquely powerful theme in American culture, and many politicians have adopted it as an election strategy.
Today, Nicholas Vardy explains why the way to wealth is never betting against America.

A silent assumption permeates much of today’s financial punditry: America’s best days are behind it.
Back in the “good old days,” a dynamically expanding U.S. economy secured prosperity for all its citizens.
Politicians reached across the aisle and got things done.
The world admired America for its economic, political and social achievements.
The contrast with today’s attitude could not be greater.
The fruits of economic growth are going to the top 1%.
Political vitriol has …read more […]

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Tesla shares slump as coronavirus hits China car registrations

Data from LMC Automotive showed that 3,563 Tesla vehicles were registered in China in January, up from 853 vehicles a year earlier, but down from the 6,613 vehicles registered in December. Tesla registrations fluctuate significantly from month to month, LMC data showed. In October 2019, Tesla owners registered just 763 vehicles, LMC data showed. …read more […]

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Tesla shares slump as coronavirus hits China car registrations

Data from LMC Automotive showed that 3,563 Tesla vehicles were registered in China in January, up from 853 vehicles a year earlier, but down from the 6,613 vehicles registered in December. Tesla registrations fluctuate significantly from month to month, LMC data showed. In October 2019, Tesla owners registered just 763 vehicles, LMC data showed. …read more […]