Dow futures were pointing to a drop at Tuesday's open after a tech-led rally boosted Wall Street to start the new week. Apple, heavily weighted in the Dow Jones Industrial Average, the S&P 500 and the Nasdaq, saw its stock surge nearly 2.7% on Monday to an all-time high. The Dow jumped almost 460 points, or 1.8%. (CNBC)
Novavax (NVAX) shares rocketed over 35% after the federal government gave the biotech firm $1.6 billion for development of a potential coronavirus vaccine. The award is the biggest yet from the White House's program to accelerate progress toward Covid-19 vaccines and treatments. Novavax stock, before Tuesday's run-up, was nearly 2,000% higher in 2020. (Reuters)
Shares of Regeneron (REGN) were up about 3% in premarket trading after the drugmaker received a $450 million grant from the U.S. government to make and supply its double-antibody cocktail being tested against Covid-19. The antiviral cocktail, REGN-COV2, is in separate clinical trials both for treating and preventing coronavirus infection. (Reuters)
White House health advisor Dr. Anthony Fauci participates in a live stream Tuesday on the Facebook page for Sen. Doug Jones, D-Ala. During a National Institutes of Health Q&A on Monday, Fauci said protection from any potential coronavirus vaccine might be short-lived and could require a booster to prolong protection. (CNBC)
Fauci also said the average age of new patients has dropped by roughly 15 years compared with only a few months ago as the virus reignites in America's Sun Belt. For example, Republican Florida Gov. Ron DeSantis said Monday the median age of new Covid-19 patients in his state reached a low of 33. (CNBC)
According to data from Johns Hopkins University this morning, total U.S. infections approached 3 million, with deaths exceeding 130,300. Cumulative global cases reached 11.6 million, with more than 538,700 fatalities.
Atlanta Mayor Keisha Lance Bottoms, said to be under consideration to become Joe Biden's running mate, said she has tested positive for the coronavirus. She tweeted Monday that she has no symptoms. Later on CNN, she said one of her children has also tested positive. (CNBC)
The Trump administration has disclosed many small businesses that received Paycheck Protection Program loans. Among the notable recipients were Robert De Niro-backed Nobu restaurants, dozens of companies that handle last-mile delivery for Amazon (AMZN), news organizations including Forbes and The Washington Times, and Kanye West's clothing-and-sneaker brand Yeezy. (CNBC & AP)
The U.S. is "looking at" banning TikTok and other Chinese social media apps, Secretary of State Mike Pompeo told Fox News. TikTok, owned by Beijing-based ByteDance, has been on Washington's radar since last year, with concerns that the platform censors content and that its data could be accessed by China.
* TikTok says it will exit Hong Kong market within days (Reuters)
* U.S. and Hong Kong TikTok users freak out as global politics threaten access (CNBC)
* Google, Facebook and Twitter suspend review of Hong Kong requests for user data (WSJ)
Data analytics software company Palantir Technologies has filed confidentially for a public stock offering. Large firms and U.S. government agencies use Palantir's software. Founded in 2004, Palantir has been among the most highly-valued venture-backed companies. (CNBC)
Facebook (FB) CEO Mark Zuckerberg and COO Sheryl Sandberg are set to meet the leaders of three civil rights groups behind the ad boycott of the company and its subsidiary Instagram on Tuesday.the number of companies that signed up to the so-called #StopHateForProfit campaign neared 1,000. (The Hollywood Reporter)
Quest Diagnostics (DGX), the medical lab operator, said turnaround time for Covid-19 test results has lengthened to four to six days for non-priority patients, as demand for its molecular diagnostic tests continues to surge.
Humana (HUM), Walgreens (WBA) and McKesson (MCK) are partnering in an ad campaign encouraging people to return to medical offices for appointments, trying to allay fears of exposure to the coronavirus from a doctor's office visit.
The Food and Drug Administration approved Endo International's (ENDP) Qwo treatment for moderate to severe cellulite in adult women. Endo said Qwo is the first injectable treatment for cellulite to receive FDA approval. The stock soared in the premarket.
Sirius XM (SIRI) is near a deal to buy E.W. Scripps (SSP) podcasting unit Stitcher, according to people familiar with the matter who spoke to The Wall Street Journal. The satellite radio operator would reportedly pay around $300 million for Stitcher.
The state of Wyoming will bid on land and minerals properties owned by Occidental Petroleum (OXY), following approval by Wyoming's State Loan and Investment Board. Occidental is selling assets to pare down debt incurred in last year's $38 billion acquisition of Anadarko Petroleum.
Tesla (TSLA) was higher in Tuesday's premarket after Morgan Stanley raised its price target on the stock to $740 from $650. The electric auto maker on Monday saw a fourth straight record close at $1,371 per share.
Kansas City quarterback Patrick Mahomes has agreed to a 10-year contract extension worth more than $400 million, according to reports. Mahomes, who led the Chiefs to their first Super Bowl victory in 50 years, is now in position to become among the highest-paid players in the NFL.