Every stock, these days, feels like a vaccine stock. That’s especially true for the beaten-up commercial aerospace sector.
U.S. stocks closed higher on Tuesday on optimism about the development of coronavirus vaccines and a revival of business activity, but the S&P 500 failed to hold above the key psychological level of 3,000 points. Stocks pared gains late in the session, after Bloomberg News reported the Trump administration was weighing a range of sanctions on Chinese officials, businesses and financial institutions, reinforcing comments earlier in the day from White House adviser Larry Kudlow.
Novavax announced it would begin human trials for its coronavirus vaccine, while COVID-19 engulfs Brazil.
On Tuesday, Novavax announced that it was moving forward with its clinical trials for its coronavirus vaccine. This comes as a Merck announced it would begin to develop its own vaccine with IAVI and that the company would purchase Austrian vaccine maker Themis Bioscience. Yahoo Finance’s Anjalee Khemlani joins The Final Round to break down the latest news about the coronavirus.
The three major indexes closed in the green on Tuesday, as investors remained hopeful about coronavirus vaccine and that economies around the globe were recovering from the pandemic-driven lockdown over the past few months.
U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions. The benchmark index traded above the key psychological level for the first time since March 5, but came off session highs as White House adviser Larry Kudlow said President Donald Trump was "so miffed with China on virus and other matters that the trade deal is not as important to him as it once was". The S&P 500 has risen about 37% from its March lows on a raft of central bank and government stimulus and is now just about 11% below its February record high.
The global case tally from the coronavirus that causes COVID-19 climbed above 5.5 million on Tuesday, as the World Health Organization warned of the possibility of an immediate “second peak” in infections from the current wave, if countries and local governments ease measures to contain the spread too soon.
In this article you are going to find out whether hedge funds think Merck & Co., Inc. (NYSE:MRK) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus […]
The big pharma has finally joined its peers, launching multiple projects aimed at stopping COVID-19 in its tracks.
Merck (MRK) to buy Themis, which is making a COVID-19 vaccine. It is also buying global rights to a private biotech's antiviral candidate, EIDD-2801, which is in early clinical studies to treat COVID-19.
U.S. stocks jumped and the S&P 500 crossed 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions. The benchmark index traded above the key psychological level for the first time since March 5, but came off session highs as White House adviser Larry Kudlow said President Donald Trump was "so miffed with China on virus and other matters that the trade deal is not as important to him as it once was".
Stocks jumped Tuesday, and the S&P 500 traded above 3,000 for the first time since March 5, as hopes for an effective coronavirus vaccine combined with optimism over updates around states’ reopenings. Each of the S&P 500 and Dow traded above 2% shortly after market open.
Shares of Moderna and Novavax, which have risen on positive vaccine developments, fall sharply in late trading.
Nobody will get preferential access to a potential COVID-19 drug developed by vaccine maker Themis Bioscience, which is being bought by U.S. pharmaceuticals firm Merck & Co Inc, the Austrian firm's chief executive said on Thursday. "Merck has already demonstrated in the past ... that it makes vaccines available to anybody who needs them," Erich Tauber told Reuters on Thursday, adding a potential vaccine would be made available globally. "It is one of the reasons why we have decided to cooperate with Merck."
Merck is launching its hunt for a coronavirus treatment with a pill developed by US academics that is designed to force an “error catastrophe” on viruses. The drug completed its first safety trial in about 100 human volunteers in the UK and is set to begin extensive clinical testing in the US and UK early in June. Merck, the giant US drug group, said this week that it would develop the drug in collaboration with Ridgeback Biotherapeutics, a small Florida company that had licensed rights to the drug from its discoverers at Emory University in Atlanta.
S&P; 500 reaches 3,000 level, AutoZone reports earnings Continue reading...
Merck (MRK) CEO Kenneth Frasier has warned that the 12- to 18-month targets being suggested for a Covid-19 vaccine are “very aggressive,” telling the Financial Times, “it is not something I would put out there that I would want to hold Merck to.”“Speed is one factor, but in some ways we don’t really accept the concept of a race … We understand the urgency, but our goal isn’t to be the frontrunner in the early stages — it’s to develop a vaccine that is safe and effective” Frasier told the Financial Times.On Tuesday Merck became the latest drugmaker to join the race for the development of a COVID-19 treatment by announcing the purchase of Austrian vaccine maker Themis Bioscience and the collaboration with non-profit research group IAVI.The vaccine candidate being developed with IAVI will use the recombinant vesicular stomatitis virus (rVSV) technology that is the basis for Merck’s Ebola Zaire virus vaccine, ERVEBO (Ebola Zaire Vaccine, Live), which was the first rVSV vaccine approved for use in humans. Clinical studies are planned to start later this year.In general very large “clinical trials take a long time,” the Merck CEO told CNBC, adding “If you’re going to immunize a lot people, millions if not billions of people, you’re going to have to make sure that you know exactly what that vaccine will do in people and you can ensure the safety of people.”Overall, the stock scores a bullish Strong Buy Street consensus with 8 recent Buy ratings and 2 Hold ratings. The $92.10 average price target suggests 19% upside potential in the shares in the coming 12 months. Shares are currently trading down 15% year-to-date. (See Merck stock analysis on TipRanks).Following Merck’s announcements, Mizuho Securities analyst Mara Goldstein reiterated a Buy rating on the stock with a $100 price target.“As a major player in vaccine development (also the first licensed Ebola vaccine), this move makes sense. MRK was not the first to announce plans to tackle Covid-19 but this is not inconsistent with the company’s historically more measured responses,” Goldstein told investors on May 26.Related News: Novavax Begins Human Testing For Covid-19 Vaccine, Expects Results In July Merck Joins Race For Covid-19 Vaccine; Shares Rise 4.4% In Pre-Market Trading Regeneron To Repurchase $5 Billion Stake From Sanofi More recent articles from Smarter Analyst: * Logitech Shares Lifted In Pre-Market On Share Buyback Plan, 10% Dividend Boost * Billionaire Ackman Exits Berkshire Hathaway, Blackstone To Fund Opportunities * HBO Max Launches, But Not Yet Available on Amazon, Roku Platforms * Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings
Biotech firm Novavax has entered its coronavirus vaccine in a Phase 1 clinical trial in Australia — the first in the Southern Hemisphere.
Merck Announces Third-Quarter 2020 Dividend
U.S. stocks jumped on Tuesday, propelling the S&P 500 past the key psychological level of 3,000 points as optimism about developing coronavirus vaccines and the revival of business activity helped investors overlook simmering China-U.S. tensions. The benchmark S&P 500 crossed 3,000 for the first time since March 5, but came off session highs after White House adviser Larry Kudlow said President Donald Trump was "so miffed with China on virus and other matters that the trade deal is not as important to him as it once was."