Investors are gloomy after China’s plan to introduce a national security law in Hong Kong. The plan threatens to aggravate the unrest and to weigh even more heavily on the local economy. It can also further sour relations between the People’s Republic and Washington.
The Dow Jones
loses 0.6 percent around 5 p.m.
shot 4 percent higher in the afternoon due to a statement by Anthony Fauci, a top scientific advisor to U.S. President Donald Trump. Fauci said in an interview with US news channel CNN on Thursday that he is “cautiously optimistic” about the potential corona vaccine from the US biotech company. Although the number of patients examined was low, we saw antibodies at a reasonable dose in eight patients. Therefore, there is a chance that the vaccine may have a protective effect on larger groups of people. A few important hurdles have been overcome in the field of vaccine development, which is why I am somewhat optimistic. ”
On Monday, Moderna made the global headlines by publishing the results of a Phase 1 study of its potential corona vaccine. It showed that eight out of 45 patients had produced antibodies to the coronavirus. The news shot 20 percent higher, also pulling the American and European stock markets into the air. Investors are very much looking forward to a quick vaccine for the virus, because that is the only way the economy can return to normal: without social distancing.
The company also forged the iron when it was hot, because after Monday’s strong surge in prices, it issued new shares that same evening. As a result, the biotech group managed to bring in 1.3 billion in cash. On Tuesday, the stock got a hit, as leading health website Stat News stated that the biotech company’s research contains insufficient clinical data.
In the meantime, the share has made a lot of profit, but it is still increasing 0.5 percent.
In the second quarter of its broken fiscal year 2019/20, John Deere
18 percent less revenue from sales of agricultural implements, forestry and construction equipment. Farmers postponed the purchase of a new tractor or combine harvester. This also applied to companies that do forestry or are active in the construction sector. Sales came in at $ 9.25 billion, much more than analysts had expected, according to Refinitiv they only averaged $ 7.69 billion.
Deere’s earnings were also a positive surprise, with net profit dropping 41 percent to $ 665.8 million, or $ 2.11 per share. Here, expectations were only $ 1.62 per share.
For the full fiscal year, Deere now assumes net profit of between $ 1.6 and $ 2 billion. However, there are still many uncertainties surrounding the corona crisis that could affect the results and the financial position. In fiscal 2018/19, Deere generated nearly $ 3.3 billion in profit.
The stock gains 1.1 percent.