BY THE NUMBERS
IN THE NEWS TODAY
President Joe Biden is calling on the nation’s top scientists and public health experts to regularly update Americans about the Covid pandemic, which has claimed more than 425,000 lives in the U.S. Beginning Wednesday, administration experts, including Dr. Anthony Fauci, will host briefings three times a week. (CNBC)
* Democrats prep Biden’s virus aid package with or without Republicans (AP)
* France’s Sanofi to help make rival vaccine, even as its vaccine candidate stalls (AP)
* Biden to reopen ‘Obamacare’ markets for Covid relief (AP)
Biden said Tuesday the U.S. government is working to purchase an additional 200 million doses of Covid vaccines, split evenly between Pfizer‘s shots and Moderna‘s, in a move that could provide enough doses for nearly every American to get fully inoculated by the fall. (AP)
A large-scale GOP defection that would ultimately purge Trump from the party appears unlikely. Senate Republicans voted overwhelmingly Tuesday for an attempt to dismiss the former president’s second impeachment trial. Only five Republican senators rejected the challenge, which failed in the narrowly divided but Democratically controlled Senate. The trial is set to start on Feb. 8. (AP)
Starbucks (SBUX) Chief Operating Officer Rosalind Brewer will replace Stefano Pessina as CEO of Walgreens Boots Alliance (WBA), the drugstore chain confirmed in a statement. Starbucks had announced Brewer’s departure earlier in the day, saying she is leaving at the end of February for a CEO position at an undisclosed publicly traded company. (CNBC)
AT&T (T) beat estimates on both the top and bottom lines, and also added a greater-than-expected number of post-paid phone subscribers. Separately, AT&T was hit with a $1.35 billion lawsuit by Seattle-based Network Apps, which accused AT&T of stealing its device synchronization technology following the end of a joint venture between the two companies. Shares of AT&T fell 2.5% in the premarket. (CNBC)
Goldman Sachs (GS) CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank’s role in the 1MDB scandal. Goldman, which saw its highest revenue in over a decade last year despite the pandemic, has admitted to wrongdoing during its time working for the now-infamous Malaysian government development fund. (CNBC)
STOCKS TO WATCH
VF Corp. (VFC), the maker of Vans sneakers and North Face outerwear, beat estimates by 3 cents a share, with quarterly earnings of 93 cents per share. Revenue was essentially in line with estimates. VF also raised its forecast, as work-from-home consumers embrace its leisurewear. The company’s shares slid 3.5% in premarket trading.
Target (TGT) and Levi Strauss (LEVI) announced an expansion of their partnership, launching “Levi’s For Target Home Collection” featuring home décor and lifestyle items.
Advanced Micro Devices (AMD) beat estimates by 5 cents a share, with quarterly earnings of 52 cents per share. The chip maker’s revenue came in above consensus as well. AMD saw strong demand for chips used on gaming consoles, personal computers and data centers, and it also gave an upbeat 2021 sales forecast. AMD shares fell 2.8% in premarket trading.
Texas Instruments (TXN) reported quarterly profit of $1.64 per share, 30 cents a share above estimates. The chip maker’s revenue was also above forecasts. It also gave an upbeat current-quarter revenue forecast, helped by strong demand for chips used in personal electronics. Its shares dropped 2.8% in the premarket.
Automatic Data Processing (ADP) , a payroll processing company, reported quarterly earnings of $1.52 per share, beating the consensus estimate of $1.29 a share. Revenue also came in above forecasts. ADP also raised its full-year forecast. ADP shares slipped 1% in the premarket.
Private-equity giant Blackstone (BX) reported distributable earnings per share of $1.13, compared to a consensus estimate of 89 cents a share. Its results were helped by a jump in the value of its private-equity portfolio amid gains in the overall market.
Exchange operator Nasdaq (NDAQ) reported better-than-expected profit and revenue for its latest quarter, helped by a surge in trading volumes.
Capital One (COF) reported better than expected profit and revenue for its latest quarter, helped by smaller provisions for credit losses. The company’s shares rose 3% in the premarket.
Southwest Airlines (LUV) is making another round of voluntary leave offers to workers, according to a memo first reported by Bloomberg News. The airline said it remains overstaffed in many areas as the pandemic continues to hurt travel demand. Southwest’s shares fell 1.5% in premarket trading.
The baseball Hall of Fame, located in central New York state, won’t have any new players in the class of 2021 after voters decided no one had the merits, on the field or off, for enshrinement in Cooperstown. Curt Schilling, Barry Bonds and Roger Clemens, who all came close in the voting, will have one more chance next year. (AP)