Johnson & johnson
J&J will not deliver the promised doses of its coronavirus vaccine to the EU by the end of the month, raising concerns that the bloc’s vaccination schedule is slowing down.
A spokesperson for the European Commission told Reuters that J&J is not expected to deliver 55 million doses by the end of June as planned. This was after 17 million doses were withdrawn over fears that batches made in an American factory could be contaminated.
The EU has ordered 200 million doses of the vaccine in total, but only around 12 million have been delivered so far. The company said it remains committed to meeting its obligations to the EU. The block currently mainly uses the jab developed by Pfizer and BioNTech.
Regeneron said a British study found that its cocktail of antibodies developed in partnership with Roche helps reduce the risk of hospitalization in patients infected with coronavirus who cannot mount their own immune defense.
The study suggests that REGEN-COV can reduce the risk of hospitalization by 20%. This is the first study to suggest that antibody treatment could help increase survival rates in people hospitalized with the virus. Regeneron will share the data and immediately seek approval from the United States.
“It’s wonderful to learn that even in advanced cases of COVID-19 disease, targeting the virus can reduce patient mortality
Oracle on Tuesday released “bumper” fourth-quarter results that beat expectations as its cloud computing business boosted growth but disappointed with its outlook for the new fiscal year.
Revenue for the quarter increased 8% year-on-year to $ 11.2 billion and non-GAAP EPS jumped 29% to $ 1.54. It exceeded Wall Street’s expectations for revenue of $ 11.04 billion and EPS of $ 1.31. It said its Fusion and NetSuite businesses have seen “dramatic increases” in revenue growth, while revenue revenue from its Gen2 Cloud Infrastructure unit has doubled.
Oracle said it plans to double its capital budget for its cloud computing business to increase competition with Microsoft and Amazon, but said this means first-quarter EPS will be between $ 0.94. and $ 0.98, below the $ 1.03 expected by analysts.
Homebuilder Lennar is due to release its second quarter results after markets close today, with investors hoping it can continue to benefit from surging demand and rising prices.
It aims to deliver new orders of 16,500 to 16,700 and to deliver 14,200 to 14,400 units during the quarter at an average selling price of $ 405,000 and a gross margin of 25%. Analysts expect revenue to hit $ 5.91 billion from $ 5.32 billion a year earlier, and diluted EPS to drop from $ 1.65 to $ 2.34.
Beware of any changes to its annual forecast to deliver 62,000 to 64,000 units for about $ 400,000 each, as well as comments on inflationary pressures after reporting rising costs in its latest update.
Honest Co, the health and wellness company founded by actress Jessica Alba, is set to release its first round of quarterly results since going public in May after market closed today.
This will be his first opportunity to impress the market and educate investors on how he has deployed the $ 422 million raised through his listing, which is expected to be funneled into marketing and R&D to create new products.
The company expects revenue growth of between 8% and 11% for the first quarter. For context, Honest achieved revenue of $ 72.4 million and net income of $ 559,000 in the first three months of 2020.
Twitter continues to disregard new IT rules in India which were introduced in May, officials say, sparking tensions between the government and the US social media platform.
The Indian government is in dispute with several large US companies over issues ranging from anti-competitive behavior to stricter rules for the online space. The new IT rules aim to make companies like Twitter and Facebook take more responsibility for content on their platforms and respond more quickly to requests to remove content. They are also supposed to appoint new executives to manage the new rules.
Technology Minister Ravi Shankar Prasad wrote to Twitter to say there could be “unintended consequences” if the rules were broken, but did not confirm whether the company had lost its protections legal in the country. Twitter said it was in the process of appointing a new chief compliance officer and was doing everything to comply with the new requirements.
EBay plans to sell its South Korean business to local retailer E-Mart and web portal Naver for about KRW 400 trillion, or about $ 3.6 billion, according to local newspaper reports.
The company’s Korean unit operates multiple platforms, including Gmarket, Auction, and G9. It is believed to be the third largest e-commerce player in the country, according to Euromonitor. The reports are based on regulatory documents from E-Mart, which is owned by the Shinsegae Group, which said it was in discussions about buying eBay Korea.
Reports also suggest that Lotte Shopping, another local giant, may be interested.
Ford Motor Co is part of a group of large companies in talks to build gigantic factories to produce batteries for electric vehicles in the UK, according to Financial Times reports.
Nissan, LG Corp and Samsung are the other big companies being considered, alongside British start-ups Britishvolt and InoBat. It is believed to be part of the UK government’s broader push to ban the sale of gasoline and diesel cars by 2030, which will require better supply chains for electric vehicles.
In particular, Ford is believed to be considering making batteries in the UK for shipping to Turkey for final assembly and for installation in new Transit electric vans. Nissan is believed to be planning to build a new site at its Sunderland plant, while LG and Samsung are looking to invest in the space.
General Motors is expected to increase its electric car development budget by 30% to about $ 35 billion by 2025, according to Reuters reports.
The larger budget would allow General Motors to build two new battery factories in the United States and accelerate some of its investments. Notably, the budget for electric vehicles exploded by around $ 20 billion before the pandemic broke out.
European insurer and investor Allianz buys a 10% stake in the European branch of American Tower for around 530 million euros.
The deal values ATC Europe at 8.8 billion euros, including debt, in line with the assessment made when Caisse de dépôt bought a 30% stake last month.
American Tower said the investment would allow ATC Europe to strengthen its mobile broadband business in Europe, particularly in key markets of Germany, France and Spain.
The real-time streaming events platform Confluent set a price for its IPO after confidentially filing its listing in April.
Confluent plans to sell 23 million shares for between $ 29 and $ 33 each. This could allow him to raise up to $ 759 million and give him a valuation of around $ 8.3 billion. It was valued at around $ 4.5 billion as of April 2020.
Confluent said revenue growth accelerated to 77% in the first three months of 2021, compared to 51% growth recorded over the whole of 2020.
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