- Investors wait for results of stimulus negotiations
- FDA advisory panel recommends approval of Modern’s (MRNA.US) Covid-19 vaccine
- Darden Restaurants (DRI.US) posts disappointing sales
US indices launched today's session little changed, after hitting record highs in the previous session, as investors monitor progress on US stimulus negotiations. Senate Majority Leader Mitch McConnell said a bipartisan deal “appears to be close at hand” and House Speaker Nancy Pelosi also said Democrats were moving closer to a consensus. Lawmakers are running short of time to pass both pandemic rescue package but also a comprehensive spending bill to fund the government. Meanwhile Moderna's (MRNA.US) Covid-19 vaccine received a positive recommendation from the US FDA panel, setting it up for possible emergency use authorization by late today.
US30 – index bounced off the lower limit of the triangle pattern which is additionally strengthened by 50 SMA (green line). If buyers will manage to uphold the momentum then ATH at 30,319 pts could be tested. However should the price break below the lower limit of the triangle formation, declines could deepen. In such a scenario, support at 29,557 pts could be the first target for market bears. Source: xStation5
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Open account Try demo Download mobile app Download mobile appDarden Restaurants (DRI.US) which owns Olive Garden brand reported quarterly earnings of 74 cents per share, beating analysts’ expectations by 3 cents a share. However revenue figures disappointed, as same-restaurant sales plunged 20.6% compared to market expectations of 18.3% decline. The restaurant operator also expects lower earnings in this quarter and raised its quarterly dividend to 37 cents per share from 30 cents a share.
Darden Restaurants (DRI.US) - yesterday stock failed to break above the major resistance at $119.00 which coincides with upper limit of the upward channel. Stock launched today’s session lower on mixed quarterly results. If the current sentiment prevails then downward impulse towards 50 SMA (green line) could be launched. Source: xStation5
Pfizer (PFE.US) applied for approval in Japan for its Covid-19 vaccine, which is already in use in both the United States and the U.K.
Coca-Cola Co (KO.US) announced yesterday it will lay off 2,200 workers, or 17% of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands.
BlackBerry (BB.US) reported quarterly earnings of 2 cents per share, compared to analysts’ expectations of 1 cent per share loss. Revenue also came in above market estimates, despite reduced demand for the company's cybersecurity and QNX car software.
Regeneron Pharmaceuticals (REGN.US) announced its Covid-19 antibody drug reduced viral load and reduced the need for medical visits, according to data from a clinical trial published in the New England Journal of Medicine. The company’s stock gained 2% in the premarket.
Johnson & Johnson (JNJ.US) announced that the first late-stage trial for its Covid-19 vaccine candidate is now fully enrolled, with 45,000 participants. Company expects to obtain interim data on the single-dose vaccine at the end of January.
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