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MarketWatch MarketPulseJan 27, 2021
Hedge fund Melvin Capital closes out GameStop short: CNBC
Hedge fund Melvin Capital closed out its short position in videogame retailer GameStop Corp., CNBC reported Wednesday. Fund manager Gabe Plotkin told CNBC's Andrew Ross Sorkin that the position was closed out Tuesday afternoon following a huge loss. Shares of GameStop have soared more than 600% in January after retail investors, organized via Reddit's WallStreetBets forum and other platforms, sought to push up a handful of heavily shorted stocks. Hedge funds Citadel and Point72 infused nearly $3 billion into Melvin Capital to shore up the fund, news reports said earlier this week. Plotkin told CNBC that speculation the fund would file for bankruptcy is false. Shares of GameStop trimmed premarket gains after the report but remained up 56%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 27, 2021
Moderna: U.S. gov plans to order an additional 100 million doses of its COVID-19 vaccine
Shares of Moderna Inc. were down 2.1% in premarket trading on Wednesday after the company said it was in talks with the U.S. government to supply an additional 100 million doses of its COVID-19 vaccine. The delivery, which would occur in the third quarter of 2021, would bolster the U.S. government's total order from Moderna to 300 million doses. Moderna's vaccine requires two doses so that means the company could be supplying doses for 150 million people. The Biden administration said Tuesday that it also planned on ordering an additional 100 million doses from BioNTech SE and Pfizer Inc. . "We expect these additional 200 million doses to be delivered this summer," President Joe Biden said Tuesday. "This is enough vaccine to fully vaccinate 300 Americans by the end of the summer, beginning of the fall." Moderna's stock has soared 568.1% over the past 12 months. The S&P 500 is up 16.8.%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 27, 2021
Coronavirus tally: Global cases of COVID-19 climb to 100.3 million and U.S. counts another 4,000 deaths in a single day
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 100.3 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose above 2.16 million. The U.S. has the highest case tally in the world at 25.4 million and the highest death toll at 425,227, or about a fifth of the global total. The U.S. added at least 151,616 new cases on Tuesday, according to a New York Times tracker , and counted at least 4,205 deaths, a level that had not been seen for several days. The U.S. has averaged 167,651 new cases a day in the past week, down 33% from the average two weeks ago. President Joe Biden has promised to increase the number of vaccines reaching individual states next week and said his administration is close to a dal for enough shots to vaccinate 300 million Americans by end of summer, the Times reported. Brazil has the second highest death toll at 218,878 and is third by cases at 8.9 million. India is second worldwide in cases with 10.7 million, and third in deaths at 153,724. Mexico has the fourth highest death toll at 152,016 and 13th highest case tally at 1.8 million. The U.K. has 3.7 million cases and 100,359 deaths, the highest in Europe and fifth highest in the world.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 27, 2021
Anthem tops profit and revenue expectations, boosts stock buyback program by $5 billion
Shares of Anthem Inc. were indicated down nearly 1% in premarket trading Wednesday, after the health benefits company reported fourth-quarter profit that just topped expectations and revenue that rose above forecasts, while the full-year outlook was less than upbeat. Net income fell to $551 million, or $2.19 a share, from $934 million, or $3.62 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $2.54, above the FactSet consensus of $2.53. Revenue grew 16.2% to $31.53 billion, beating the FactSet consensus of $30.90 billion, as premiums revenue increased 12.8% to $27.11 billion to top expectations of $26.39 billion, amid growth in Medicaid and Medicare. Medical enrollment totaled 42.9 million as of Dec. 31, up 4.7% from a year ago. Separately, the company, which repurchased $1.4 billion worth of its stock during the fourth quarter, authorized a $5.0 billion increase to its repurchase program. The stock has gained 4.6% over the past three months through Tuesday, while the S&P 500 has advanced 13.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 27, 2021
General Dynamics profit, revenue fall shy of expectations
General Dynamics Corp. reported Wednesday fourth-quarter profit and revenue that fell short of expectations, as the aerospace and combat systems business missed sales forecasts, while operating margin improved. The stock edged up 0.1% premarket, after falling 1.9% on Tuesday. Net income slipped to $1.00 billion, or $3.49 a share, from $1.02 billion, or $3.51 a share, in the year-ago period. The FactSet consensus for net earnings per share was $3.54. Revenue declined 2.7% to $10.48 billion, missing the FactSet consensus of $10.78 billion. Aerospace revenue fell 16.9% to $2.44 billion to miss expectations of $2.69 billion; marine systems revenue grew 11.4% to $2.86 billion, above expectations of $2.69 billion; and combat systems revenue fell 0.6% to $1.96 billion, below forecasts of $2.03 billion. Technologies revenue declined 2.3% to $3.23 billion. Operating margin improved to 12.3% from 11.4%, as aerospace margin was up to 16.5% from 14.3%. The stock has rallied 11.5% over the past three months through Tuesday, while the Dow Jones Industrial Average has advanced 12.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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