- Pfizer (PFE.US) ends Covid-19 trial with 95% efficacy
- US COVID-19 deaths hit highest single-day mark since spring
- Lowe’s (LOW.US) shares tumble on mixed quarterly figures
US indices launched today's session in mixed moods despite the fact Pfizer Inc (PFE.US) announced that final results from the late-stage trial of its COVID-19 vaccine show it was 95% effective, adding it had the required two-months of safety data and would shortly apply for emergency US authorization. Also, the FDA issued an emergency use authorization for the first COVID-19 diagnostic test for self-testing at home and that provides rapid results. Meanwhile US reported 161.9K new infections yesterday, this is the third highest daily count since the pandemic started and almost 1.7K deaths, the most since May, according to Johns Hopkins data. On the data front, building permits were unchanged at a seasonally adjusted annual rate of 1.545 million in October, but came in below analysts' expectations of 1.56 million. Housing starts rose 4.9% to a seasonally adjusted annual rate of 1.53 million units in October, from an upwardly revised 1.459 million in the previous month and above market expectations of 1.46 million.
US100 finished yesterday session lower and the downward move is being continued after US open. Tech-heavy index is testing the upward trendline and break below it could herald a test of 50-hour moving average (green line, 11,542 pts). On the other hand if buyers will manage to halt declines here, then another upward impulse could be launched towards ATH at 12,467 pts. Source: xStation5Lowe’s (LOW.US) – stock fell 6% after the company posted mixed quarterly figures. Company missed consensus estimate by a penny a share, with quarterly earnings of $1.98 per share. Revenue came in above expectations. Same-store sales jumped 30.1%, well above analysts' estimate of 22.8% increase. However higher labor costs and investments in its e-commerce business weighed on sentiment.
Lowe’s (LOW.US) – stock launched today’s session with a bearish price gap and is currently testing the major resistance at $151.15. In case the current sentiment prevails, stock may move towards the $133.61 support level which is additionally strengthened by 200 SMA (red line). Source: xStation5Target Corp (TGT.US) stock rose over 2% in pre-market after company reported better than expected quarterly figures. The retailer earned $2.79 per share , well above analysts' expectations of $1.60 a share. Revenue also topped market estimates. Company's comparable-store sales rose 20.7% well above the consensus estimate of 11.2%.
Apple (AAPL.US) will introduce a new program which aims to reduce app store fees for smaller software developers. From the beginning of 2021 developers who earn $1 million or less from the app store will pay a commission of 15%, instead of the standard 30%.
Boeing (BA.US) – shares rose 5% in the premarket after the Federal Aviation Administration allowed the return of Boeing’s 737 Max jet to service, after grounding it in March 2019 following two fatal crashes. American Airlines (AAL.US) will be the first to put Max commercial flights back on its schedule in late December.
Tesla (TSLA.US) was upgraded to “overweight” from “equal-weight” at Morgan Stanley. Bank raised the price target to $540 per share from $360 saying that Tesla is making a shift toward generating high margin recurring software and services revenue.
