Fly Intel: Top five weekend stock stories - InvestingChannel

Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Pfizer (PFE) and BioNTech (BNTX) have announced that the Food and Drug Administration has authorized the emergency use of the mRNA vaccine, BNT162b2, against COVID-19 in individuals 16 years of age or older. The vaccine is now authorized under an Emergency Use Authorization while Pfizer and BioNTech gather additional data and prepare to file a planned Biologics License Application with the FDA for a possible full regulatory approval in 2021. Under Operation Warp Speed, the Department of Defense in partnership with agencies within the Department of Health and Human Services, including the U.S. Centers for Disease Control and Prevention, will manage allocation and distribution of the vaccine in the U.S., the companies said in a statement. Following the announcement, FedEx Express, a subsidiary of FedEx (FDX), said that operations are in motion to transport its first shipments of COVID-19 vaccines. Express will begin transport of the vaccine using its FedEx Priority Overnight service supported by FedEx Priority Alert advanced monitoring. Meanwhile, UPS (UPS) also announced its involvement and full support of distribution efforts for Pfizer-BioNTech’s COVID-19 vaccine as part of Operation Warp Speed. Pfizer’s and BioNTech’s vaccine. UPS will move the Pfizer-BioNTech COVID-19 vaccine within the first days to states designated by Pfizer based on orders received by Operation Warp Speed and CDC officials. 2. AstraZeneca (AZN) and Alexion Pharmaceuticals (ALXN) have entered into a definitive agreement for AstraZeneca to acquire Alexion. Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares, or ADSs, with each ADS representing one-half of one ordinary share of AstraZeneca, as evidenced by American Depositary Receipts, or ADRs, for each Alexion share. Based on AstraZeneca’s reference average ADR price of $54.14, this implies total consideration to Alexion shareholders of $39B or $175 per share. 3. Electric vehicles are the future of the auto industry, so it’s no surprise they have captured Wall Street’s imagination, Al Root wrote in this week’s edition of Barron’s. Xpeng’s (XPEV) ADRs have tripled, Li Auto (LI) is up 180% from its July 30 IPO and Nio’s (NIO) ADRs are up nearly 600%, the author noted, adding that while It can be hard to part with a stock after such enormous gains, taking profits in the Chinese EV trio looks like the prudent thing to do. High valuations aren’t a reason to sell a stock-just ask anyone who bet against Tesla (TSLA), whose shares have soared about 650% this year. But China’s EV upstarts face potential risks that don’t appear to be factored into their stock prices, Root contended. 4. Gaming company Roblox (RBLX) had been preparing to go public this month but has decided to delay its initial public offering until next year, The New York Times’ Kellen Browning reported. Meanwhile, Affirm Holdings (AFRM) is also postponing its initial public offering, The Wall Street Journal’s Maureen Farrell and Cara Lombardo report, citing people familiar with the matter. 5. Mercury General’s (MCY), Disney (DIS), and Starbucks (SBUX) saw positive mentions in this week’s edition of Barron’s.