| What to watch today: Investors assess vaccine news against Covid-19 case spikes | | |  | FRI, NOV 20, 2020 | | | | AS OF FRI, NOV 20, 2020 • 08:38 ET | | Dow Jones Fut | | 29,483.23 | | Current: | 29,396.00 | | Change: | -47.00 | | Impl. Open: | -36.23 | | | S&P 500 Fut | | 3,581.87 | | Current: | 3,575.00 | | Change: | -5.00 | | Impl. Open: | -3.67 | | | NASDAQ 100 Fut | | 11,985.43 | | Current: | 11,994.50 | | Change: | 7.25 | | Impl. Open: | 11.07 | | | Russell 2000 Mini | | 1,784.13 | | Current: | 1,778.70 | | Change: | -4.30 | | Impl. Open: | -3.03 | | | U.S. stock futures pointed to a mixed open Friday, in an investor sentiment tug-of-war between more encouraging Covid vaccine news and skyrocketing infections. The Dow Jones Industrial Average, as of Thursday's close, was up more than 11% in November. (CNBC) | | | | Pfizer (PFE) and BioNTech (BNTX) said they'll apply with the FDA on Friday for emergency use authorization for their vaccine, the first to go through the regulatory process. At the same time, the U.S. on Thursday recorded coronavirus cases of 187,883, by far the nation's single-worst day during the pandemic. | | | | The FDA's consideration of the Pfizer-BioNTech application for emergency use of their Covid-19 vaccine could take weeks. An advisory committee meeting has been tentatively scheduled for early December. If the FDA approves, the vaccine will likely be limited and rolled out in phases based on risk. (CNBC) | | | The FDA approved the emergency use of Eli Lilly's arthritis drug baricitinib, in combination with Gilead Sciences' antiviral drug remdesivir, to treat Covid patients. Baricitinib, sold under the brand name of Olumiant, is an FDA-approved oral medication to treat moderate-to-severe active rheumatoid arthritis. (Reuters)
In stark contrast to U.S. regulatory guidance, a World Health Organization panel advised doctors Thursday against using remdesivir as a treatment for patients hospitalized with Covid, saying there is currently "no evidence" that it improves survival or shortens recovery time. (CNBC) | | | | GE Healthcare, a subsidiary of General Electric (GE), announced Friday it is acquiring Swedish start-up Prismatic Sensors AB, bolstering its key medical imaging business. GE Healthcare said the start-up's technology offers sharper images with fewer doses of radiation to patients. (CNBC) | | | | BuzzFeed has agreed to acquire Verizon Media's HuffPost in a stock deal, uniting two of the larger players in digital media as companies across the sector search for ways to jump-start growth. Under the pact, the companies will syndicate each other's content. (WSJ) | | FireEye (FEYE) is receiving a strategic investment from private-equity firm Blackstone (BX) and venture capital firm ClearSky. The firms will purchase $400 million in the cybersecurity firm's convertible preferred stock, which is convertible into FireEye common shares at a price of $18 per share. FireEye closed Thursday at $14.24 per share. FireEye shares jumped 13% in premarket trading. | | | | Foot Locker (FL) earned $1.21 per share for its latest quarter, compared to a consensus estimate of 63 cents a share. Revenue beat estimates as well, while same-store sales rose 7.7%. Analysts surveyed by FactSet had expected comparable-store sales to drop by 1.2%. | | | | Hibbett Sports (HIBB), an athletic footwear and apparel, retailer posted quarterly earnings of $1.47 per share, more than triple the consensus estimate of 45 cents per share. Revenue also exceeded forecasts, with a same-store sales increase of 21%. Analysts surveyed by Refinitiv had expected a comparable store increase of 7.5%. | | | | Fashion accessories retailer The Buckle (BKE) beat estimates by 30 cents a share, with quarterly earnings of 85 cents per share. Revenue beat estimates as well, helped by a 72.5% surge in online sales. | | | | Workday (WDAY) reported quarterly earnings of 86 cents per share, 19 cents a share above estimates. Revenue topped estimates as well. The maker of human resources and finance-focused cloud software also raised its subscription revenue outlook for 2021, but also issued warnings about the lingering impact of the pandemic on its results. | | | | Ross Stores (ROST) earned $1.02 per share for its latest quarter, well above the 61 cents a share consensus estimate. The discount retailer's revenue also beat Wall Street forecasts. Comparable-store sales fell by 3%, but that was a much smaller decline than the 12.6% drop predicted by analysts. | | | | Williams-Sonoma (WSM)reported quarterly earnings of $2.56 per share, well above the consensus estimate of $1.53 a share. The housewares retailer's revenue beat estimates as well. Digital sales jumped 49% and the company reported record operating profit margins. | | | | Intuit (INTU) reported quarterly profit of 94 cents per share, nearly tripling the consensus estimate of 37 cents a share. The maker of TurboTax and other financial software's revenue came in above forecasts. | | |
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