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Yahoo BusinessJul 07, 2020
Regeneron Signs $450M Contract With U.S. Government For Covid-19 Therapy
Regeneron Pharmaceuticals, Inc (REGN) announced on Tuesday that it has won a $450 million contract with the U.S government to manufacture and supply REGN-COV2, its investigational dual antibody cocktail for the prevention and treatment of COVID-19.The stock rose 3.6% to $650 in early afternoon trading. The agreement, which was signed with the U.S. Department of Defense and the Biomedical Advanced Research and Development Authority (BARDA) will fund continued manufacturing so that the therapy could be made available immediately in the U.S. if clinical trials are successful and the U.S. Food and Drug Administration (FDA) grants Emergency Use Authorization (EUA).The agreement, which is part of Operation Warp Speed, a U.S. government program that seeks to begin supplying millions of doses of a safe, effective vaccine for COVID-19 in 2021, covers a fixed number of bulk lots intended to be completed in the fall of 2020, the company said."We made the decision early on to begin large-scale manufacturing at our own risk in order to ensure that product would be available immediately if our clinical trials prove successful and an Emergency Use Authorization is granted," said Regeneron CEO Leonard S. Schleifer. "This manufacturing and supply agreement could help REGN-COV2 reach many people quickly, hopefully helping to change the course of this deadly and still-raging pandemic."REGN-COV2 is currently in two Phase 2/3 clinical trials for the treatment of COVID-19 and in a Phase 3 trial for the p

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MarketWatchJul 07, 2020
FA Center: Tesla's stock is forming a bubble and new buyers should buckle up for a crash
Tesla bulls are running but what goes up must come down, writes Mark Hulbert.

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Stock market rally stalls as investors hunt for safer assets (FT.com - Financial Markets)

CNBC BusinessJul 07, 2020
Stocks making the biggest moves midday: Novavax, Shake Shack, Tesla & more
These are the stocks posting the largest moves in midday trading.

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Dow Jones Falls 200 Points, But Walmart Surges 4%; 2 Coronavirus Stocks Score Bullish Gains - Investor's Business Daily (Google Business News)

MarketWatchJul 07, 2020
Market Snapshot: Dow ends nearly 400 points lower, U.S. stocks swoon, on doubts of quick economic recovery
U.S. stocks on Tuesday tumbled in the final hour of trade, ending a 5-day win streak for the S&P 500, as investors grew more wary of the economic, public-health and policy response to the coronavirus pandemic.

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Philip Morris gets FDA approval to market its 'tobacco heating system' as a healthier alternative to smoking (MarketWatch MarketPulse)
5 Stocks To Short As Markets Retreat From Monday's Rally (Forbes Headlines)

Yahoo BusinessJul 07, 2020
Were Hedge Funds Right About Souring On The PNC Financial Services Group (PNC)?
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]


Automotive News Breaking NewsJul 07, 2020
Tesla's stock rally brings Wall Street's contradictions to light
According to Bloomberg data, 16 analysts currently recommend selling Tesla, while 11 advise holding, and 9 say buy.



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Stocks on track to snap a five-day rally as virus cases jump (USA Today Money)

MarketWatch MarketPulseJul 07, 2020
Dow tumbles nearly 400 points on worries about coronavirus economic impact
U.S. stocks closed sharply lower Tuesday as investors assessed the economic damage from the coronavirus pandemic and a White House aide said the Trump administration wanted to put a cap on an upcoming fiscal stimulus package. The Dow Jones Industrial Average fell 397 points, 1.5%, to close near 25,890, while the S&P 500 lost 34 points or 1.1%, closing near 3,145. The tech-heavy Nasdaq , which was in positive territory most of the day, closed near 10,344, down 90 points or 0.9%. The stock sell-off intensified in the afternoon after Federal Reserve officials expressed concern about the pandemic's economic impact. Investors continued to reward biotech companies that may offer the best treatments for the virus: Novavax Inc. shares surged over 31% Tuesday after it said it had secured $1.6 billion in government funding for its vaccine.

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 MarketPulseJul 07, 2020
Mesa Air June block hours fall 75.8% as schedules reduced in coronavirus pandemic
Mesa Air Group Inc. said Tuesday that block hours, a measure of aircraft utilization, fell 75.8% in June because of reduced schedules during the coronavirus pandemic. Block hours are counted from the moment an aircraft door closes at departure until the moment the aircraft door opens at the arrival gate on landing. The Phoenix, Az.-based regional airline has partnerships with American Airlines and United Airlines. It said block hours for American Airlines fell 81.9% in June, while hours for United fell 71.2%. Departures for both airlines were down 75.8%. Shares were not yet active premarket, but have fallen 62% in the year to date, while the US Global JETS ETF has fallen 46% and the S&P 500 has fallen 1.6%.

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.



The Motley FoolJul 07, 2020
S&P 500 Falls 34 Points: Airline Stocks Fall on Federal Aid Deal; Walmart Starting Prime Competitor but Amazon Stock Stays Above $3,000
Also, Paychex earnings disappoint, and Becton, Dickinson was granted authorization for a 15-minute COVID-19 test.

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S&P 500 falls for the first time in six days, Nasdaq retreats from record high (CNBC Finance)

MarketWatch MarketPulseJul 07, 2020
Tesla stock hits another record close
Shares of Tesla Inc. rose 1.3% to end at a record $1,389.86 Tuesday, its sixth straight session of gains. Earlier Tuesday, Adam Jonas of Morgan Stanley upped his price target on the shares and came out with a $2,000 "bull case scenario," boosting the stock. As demand for Tesla vehicles continues, the company is on more solid footing than other auto makers and will likely post a GAAP profit when it reports second-quarter results next month, the analyst said. Tesla shares have been on a tear since last week, when the company reported better-than-expected sales numbers even as coronavirus-related closures kept its sole U.S. car-making plant in California shuttered for most of the second quarter.

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 MarketPulseJul 07, 2020
Deutsche Bank to pay $150 million fine over compliance failures related to Jeffry Epstein
Deutsche Bank AG has agreed to pay a $150 million fine for significant compliance failures in its dealings with Jeffrey Epstein. The agreement is the first enforcement action by a regulator against a financial institution for dealings with registered sex offender Jeffrey Epstein, according to the New York State Department of Financial Services, or DFS. The agreement also covers compliance issues relating to Danske Bank Estonia and FBME Bank. "In each of the cases that are being resolved today, Deutsche Bank failed to adequately monitor the activity of customers that the Bank itself deemed to be high risk," Linda Lacewell, superintendent of the DFS said in a statment. " In the case of Jeffrey Epstein in particular, despite knowing Mr. Epstein's terrible criminal history, the Bank inexcusably failed to detect or prevent millions of dollars of suspicious transactions." Epstein, who committed suicide while awaiting trial on charges of sex trafficking and abuse of minors last August, used Deutsche Bank to make payments to individuals who were alleged to have been co-conspirators in sexually abusing young women, said the statement. The bank also handled settlement payments of more than $7 million and made dozens of payments to law firms for what appear to be legal costs for Epstein and others. It handled payments to Russian models, payments for women's school tuition, hotel and rent expenses, and payments to women with East European surnames, said the statement. Epstein also made periodic suspicious cash withdrawals of more than $800,000 over a four-year period. Deutsche Bank Chief Executive Christian Sewing acknowledged the failure ion a memo to staff posted on its website. "Onboarding the latter (Epstein) as a client in 2013 was a critical mistake and should never have happened," Sewing wrote.

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 MarketPulseJul 07, 2020
U.S. oil futures settle little changed as traders weigh prospects for crude supply and energy demand
U.S. oil futures barely budged Tuesday, finding some support from expectations that the Energy Information Administration will report a weekly decline in U.S. crude supplies on Wednesday. However, concerns over a slowdown in energy demand as cases of COVID-19 climb also pressured prices. August West Texas Intermediate oil fell by a penny, or 0.02%, to settle at $40.62 a barrel on the New York Mercantile Exchange.

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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Gold futures log highest finish since September 2011 (MarketWatch MarketPulse)

Forbes HeadlinesJul 07, 2020
Best Stocks To Buy As Nasdaq Continues Record-Breaking Streak
Sentiment has been mixed due to economic forecasts and rising COVID-19 cases. And while today hasn't been a repeat of Monday's performance, markets aren't in terrible shape either. Amidst this uncertainty, our AI has identified the 5 best stocks to buy today.

Yahoo BusinessJul 07, 2020
Stock market news live updates: Dow futures drop 200 points as economic, virus fears linger
Stock futures fell Tuesday morning, with the S&P 500 poised to snap a five-day winning streak as investors considered prospects of a drawn-out economic recovery alongside an ongoing rise in virus cases.


NYTimes BusinessJul 07, 2020
Treasury Says Small-Business Loans Supported Over 50 Million Jobs
The latest on stock market and business news during the coronavirus outbreak.
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