WHO Ends Global Emergency Status for COVID-19 3 Years After Declaration, CDC Director Resigns
- The World Health Organization ended the global emergency status for COVID-19 more than three years after its original declaration.
- The U.S. Centers for Disease Control and Prevention (CDC) said it would stop reporting or monitoring COVID-19 case data and transmission rates after the government ends the pandemic’s public health emergency designation next week.
- The Committee was informed that, globally, 13.3 billion doses of COVID-19 vaccines have been administered.
Why Tyson Foods Shares Are Down Monday Morning
- Tyson Foods Inc TSN shares are down Monday morning as its second-quarter results missed Street expectations. The company also reduced its FY23 sales outlook.
- TSN reported second-quarter FY23 sales growth of 0.12% year-on-year to $13.13 billion, missing the consensus of $13.62 billion.
- Adjusted EPS of $(0.04) missed the analyst consensus of $0.80.
- Tyson Foods cut its FY23 revenue outlook to $53 billion – $54 billion (previously $55 billion – $57 billion) versus the consensus of $55.04 billion.
Why DISH Shares Are Trading Lower Premarket Today
- DISH Network Corp (NASDAQ: DISH) reported a first-quarter FY23 revenue decline of 8.6% year-on-year to $3.96 billion, missing the consensus estimate of $4.06 billion.
- The net decrease primarily resulted from the decline in revenue from its Pay-TV Wireless and Wireless segments.
- Net pay TV subscribers decreased by 552,000 in Q1 compared to a net 462,000 decline in Q1 FY22.
Qualcomm To Acquire Auto Chipmaker Autotalks For Undisclosed Terms
- Qualcomm Inc QCOM subsidiary, Qualcomm Technologies, Inc, has agreed to acquire Autotalks. The financial terms of the transaction remain undisclosed.
- The automotive industry continues to evolve at an unprecedented rate, driven by innovation and digital technologies. The popularity of electric and automated vehicles has triggered higher demand for chips.
Despite Continuous Dip In Covid-19 Vaccine Sales, BioNTech Manages To Post Q1 Profit, Reaffirms Guidance
- BioNTech SE BNTX reported Q1 FY23 revenues of €1.28 billion, down from €6.37 billion a year ago, mainly due to lower commercial revenues from the supply and sales of the company’s COVID-19 vaccines worldwide.
- The company posted Q1 diluted EPS of €2.05, down from €14.24 a year ago.
- BioNTech reiterates FY23 COVID-19 vaccine revenue of approximately €5 billion compared to €17.1 billion in 2022.
Wall Street Journal
Virgin Galactic Intents To Launch Space Tourism In Q2
- Virgin Galactic Holdings Inc SPCE completed glide flite from Spaceport America in the last week of April 2023.
- SPCE states that the data collected from the glide flite will be analyzed over the coming weeks and expects to launch the commercial services in Q2.
- SPCE’s last flight was in July 2021, which flew founder Richard Branson and three other crew members to the edge of space.
Warren Buffett’s Berkshire Hathaway Has No Intentions To Take Control Of Occidental Petroleum
- Occidental Petroleum Corp OXY shares dropped in premarket trading, reacting to Warren Buffett’s comment about no plans to take complete control. The stock recovered its losses.
- “There’s speculation about us buying control, we’re not going to buy control. We wouldn’t know what to do with it,” commented Warren Buffett at Berkshire Hathaway Inc (NYSE: BRK-A) annual shareholder meeting,
Advent, Warburg Pincus Lead Multi-Billion Buyout Bid For Baxter’s BioPharma Solutions
- A buyout consortium comprising Warburg Pincus and Advent International is in advanced talks to acquire Baxter International Inc’s BAX biopharma solutions business.
- BioPharma Solutions offers contract manufacturing services to the pharma and biotech industries. The deal value could reach or exceed $4 billion.
- The private equity consortium is seeking help from other private equity firms to act as direct lenders for the deal.
Alibaba Logistics Division Likely To Mark Its IPO, Eyes $2B Hong Kong Listing
- Alibaba Group Holding Limited’s BABA logistics arm aims to raise $2 billion via a listing in Hong Kong in early 2024.
- Cainiao Network Technology, which has started work on the IPO, is looking to raise between $1 billion – $2 billion in Hong Kong.
- Cainiao’s initial public offering plan follows Alibaba’s plans to split its business into six units.
Toyota Stops Yaris Model Sales In Thailand After Safety Concerns: Report
- During a press conference in Bangkok, Toyota Motor Corp TM announced the sales and delivery stoppage of its Yaris Ativ model in Thailand.
- Toyota, working with the Thai government to restart sales, took this decision after its affiliate Daihatsu rigged part of the door in side-collision safety tests.
- Masahiko Maeda, Toyota’s CEO for the Asia region, believes that as Daihatsu specializes in producing small cars, the vehicle’s relatively large size may have posed a challenge. He said the vehicles customers were using were safe, and the problem likely emerged during the development of the model.
HSBC Inks Pact To Take Over China Fund Management Joint Venture: Report
- HSBC Holdings Plc HSBC is headed to buy out its China fund management joint venture HSBC Jintrust Fund Management.
- The company, which owns a 49% stake in HSBC Jintrust Fund Management, has inked a pact with Shanxi Trust for the deal.
- Under the deal, Shanxi Trust will sell its 51% holding in the joint venture to the bank, said the sources. Once the deal is complete, HSBC will own the entire stake in HSBC Jintrust.
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