Top News  Shutterstock Robinhood removed trading restrictions on all stocks, including GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC), as trading volume on the two stocks - and their prices - have subsided this week. GameStop shares have plunged 84% this week while AMC lost 47% as retail traders turned their attention elsewhere. The move comes a day after the platform increased limits in buying the two stocks. (89 comments)    | | Top News Shutterstock Robinhood removed trading restrictions on all stocks, including GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC), as trading volume on the two stocks - and their prices - have subsided this week. GameStop shares have plunged 84% this week while AMC lost 47% as retail traders turned their attention elsewhere. The move comes a day after the platform increased limits in buying the two stocks. (89 comments) | |
| Covid Pfizer (PFE) has withdrawn an application in India for emergency use authorization of the COVID-19 vaccine it developed with BioNTech (NASDAQ:BNTX), Reuters reported. That decision followed a meeting with the country's drugs regulator, which had been declining to accept the EUA without a small trial on safety and immunogenicity for Indians. In the meantime, since Pfizer applied for the EUA, India has given authorization to two much cheaper vaccines that applied later: from Oxford/AstraZeneca (NASDAQ:AZN) and from Bharat Biotech/Indian Council of Medical Research. (14 comments)
In the United States, Johnson & Johnson (NYSE:JNJ) has applied to the FDA for emergency use authorization for its single-shot COVID-19 vaccine. If approved, it would be the third such vaccine to get an emergency OK from the Food and Drug Administration, joining the vaccines from Pfizer/BioNTech and Moderna. Last week, Johnson & Johnson's vaccine was found to be 66% effective in protecting against the virus in a global trial.
The vaccine is eagerly anticipated, as the single-shot regimen points toward a far simpler distribution path than that of the vaccines from Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA), each of which calls for two shots given weeks apart. The J&J vaccine will also ship at 36-46 degrees Fahrenheit, vs. Pfizer's ultra-cold shipping (-112 to -76 degrees) or Moderna's (-13 to 5 degrees). (70 comments) | |
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| Tech Tencent Music Entertainment (NYSE:TME) - the online music arm of China's Tencent Holdings (OTCPK:TCEHY) - has reportedly selected banks to help lead a planned listing in Hong Kong for up to $5B, to come within the year. JPMorgan Chase (NYSE:JPM) and Morgan Stanley (NYSE:MS) have been chosen to lead the offering, and more banks could join, according to media reports. Tencent Music raised $1.1B in its U.S. IPO in late 2018, and has nearly doubled its value since - but a Hong Kong listing would take advantage of a hot capital market. Google (GOOG, GOOGL) has negotiated deals with seven Australian publishers and launched a news platform in the region featuring content the tech giant paid to use. The platform is an expansion of Google's News Showcase, which launched in Brazil and Germany last year An Australian News Showcase launch had been planned for last June, but Google halted the release when Australian legislators moved to make it a legal requirement for tech firms to pay publishers for content. With the News Showcase launch, Google is hoping to show that legislation isn't needed to strike deals. (5 comments) Go Deeper: Google had previously called the legislation "unworkable" and threatened to pull its search product from the region. Microsoft capitalized on the problem, offering its Bing search product to fill the void. | |
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