By the numbers
During the busiest week of the earnings season, U.S. stocks followed a mixed Monday. Nasdaq futures were stronger after the technology-heavy index stood out in a much lower market on Friday and closed at another record high. Dow futures were more than a hundred points lower. (CNBC)
Last week the Nasdaq jumped more than 4%; the S&P 500 gained nearly 2%; and the Dow Jones industrial average rose more than 0.5%. Despite Friday’s losses, the Dow and S&P remained less than 1% From the highest peak on Thursday (CNBC)
Shares of GameStop (GME), which had already risen 245% in 2021, jumped another 40% in Monday’s trading on Friday. The stock soared earlier this month after a video game salesman said Chiu’s co-founder Ryan Cohen was joining its board of directors. The announcement sparked a so-called brief blackmail, with hedge funds and other investors rushing to cover their bets against the stock. (CNBC)
There are no economic data set for publication today, though the rest of the week is very busy with economic numbers and it will also see the first 2021 meeting of Fed policymakers on Tuesday and Wednesday. Monday’s earnings are starting slowly, but 107 S&P 500 companies will come out with their quarterly results by the end of the week. (CNBC)
In today’s news
Shares of Dow Mark fell nearly 1 percent in pre-market trading after the US pharmaceutical giant announced on Monday that it was discontinuing its Covid vaccination program. Mark said the two vaccine candidates generated immune responses that were inferior to those seen for other vaccines. The company has announced that it will now focus pandemic research on treatments. (Reuters)
* CDC director says federal government does not know how much Covid vaccine has in the US (CNBC)
Biden health officials (CNBC) say the U.S. race will continue to precede new strains of cobide when mutations in the virus change.
* New model indicates that vaccines alone are not enough to end the epidemic (NY Times)
Pfizer (PFE) will send fewer vaccine vials to fulfill its commitment to the federal government, according to the New York Times. The pharmaceutical company has successfully persuaded the FDA to recognize that the vials contain six servings instead of five as originally thought.
Mexican President Andres Manuel Lopez Obrador has become the last world leader to get Cubid 19, saying on Sunday he was tested positive. He also said his symptoms were mild and he received medical treatment. (NBC News)
President Joe Biden will on Monday sign a travel ban on the entry of most non-citizens into a country that was recently in South Africa, where a new strain of cobid has been identified, a person familiar with the situation told CNBC. Biden will also return the travel restrictions to the entry of non-citizens from the UK and Brazil, where new varieties have also emerged. (CNBC)
Top Biden aides spoke Sunday with a group of moderate Republicans and Democrats in the Senate about the $ 1.9 trillion virus relief offer. Conservatives are asking if more stimulus is needed in addition to the $ 900 billion package in December, while the advanced are calling on Bidan to stand his ground. (AP)
Dr. Deborah Brix, Trump’s White House Covid Response Coordinator, said in an interview with CBS News Sunday that the former president examined “parallel” data sets on the plague from a man in government. Birk said she did not know the identity of the person who gave Trump information. Different. (CNBC)
Democrats in the House will carry on Monday night the exclusive dismissal charge against Trump for “incitement to insurgency” across the Capitol, and passed the baton to the Senate for a trial scheduled to begin in two weeks. Leaders on both sides agreed to the brief delay to give Trump’s staff and home prosecutors time to prepare. (AP)
Romney says Senate removal sentence after Trump resigns is constitutional (CNBC)
A senior administration official said Biden would take steps on Monday to harness the U.S. government’s purchasing power to increase domestic production and create markets for new technologies. The president will sign an executive order aimed at closing loopholes in existing “Buy American” directives. (Reuters)
* China surpasses US as largest recipient of foreign direct investment (CNBC)
Corporate leaders, including CEOs of Amazon and Salesforce, are pushing Biden in climate change (climate power)
Former Trump White House press secretary Sarah Sanders is expected to announce a bid for the Arkansas governor, according to two people familiar with her plans. Sanders, whose father, Mike Huckabee, was governor from 1996-2007, is expected to launch her candidacy on Monday. (NBC News)
Shares to watch
Kimberly-Clark (KMB): The consumer goods company reported adjusted quarterly earnings of $ 1.69 per share, leading to estimates of 9 cents, with revenues well above Wall Street forecasts. Kimberly Clark continues to enjoy an increase in demand that is plaguing epidemics. In addition, the company announced an increase in its quarterly dividend to $ 1.14 per share from $ 1.07.
NCR (NCR): NCR is close to a deal to acquire ATM operator Cardtronics (CATM) for $ 1.7 billion or $ 39 a share, according to people familiar with the matter quoted in the Wall Street Journal. The global investment companies Apollo (APO) and Hudson Executive Capital have previously offered $ 35 a share for Cardtronics, but the paper said they refuse to raise that offer.
TS Acquisition Acquisitions (TSIA): The special purpose acquisition company is taking the maker of smart management software and building management to the public through a merger. TS Innovation is backed by New York Commercial Real Estate Company Tishman Speyer. The deal estimates Latch at $ 1.56 billion and is expected to close during the second quarter.
Ion Acquisition Corp. (IACA): The specialty acquisition company is taking Taboola to the public at a value of $ 2.6 billion through a merger. Taboola is a provider of advanced web content technology.
Blackstone (BX): The private investment firm’s Alight Solutions unit is close to a deal to be made through a merger with SPAC owned by veteran investor Bill Foley, according to people familiar with the matter who spoke with Reuters. The deal will cost the benefit service provider $ 7.3 billion including debt.
AMC Entertainment (AMC): The cinema operator has secured new funding of $ 917 million, as it deals with the impact of the epidemic on the presence of cinemas. The liquidity will allow it to continue operating without resorting to bankruptcy.
Express (EXPR): Express jumps in pre-market trading, after a 53% increase during a Friday session. The apparel retailer announced earlier this month a deal to add $ 140 million in financing.
BlackBerry (BB): BlackBerry is poised to extend its seven-seat winning streak, rising to pre-market trading after rising 43% last week. The media software maker has seen its stock rise following a report that it has resolved a royalty dispute over Facebook (FB).
Uber Technologies (UBER): Uber fired about 185 people from the recently acquired Postmates division, according to people with knowledge of the subject who spoke to the New York Times. This represents about 15% of Postmates’ workforce, as Uber is working to consolidate the food delivery service with Uber Eats operations.
After destroying Buffalo for the AFC title, Kansas City and quarterback Patrick Mehoms turn to Tampa for the Super Bowl, seeking to complete a double. Standing in their way, veteran Tom Brady with his new team, the Bucs. Brady and company get to play in their home stadium, Super Bowl First. (AP)