Bulletin
Investor Alert

Coronavirus Update Archives | Email alerts

Dec. 11, 2020, 2:56 p.m. EST

U.S. suffers its worst week of cases, deaths and hospitalizations since the start of the pandemic

CDC head warns U.S. will see more deaths every day for next few months than died on Sept. 11, 2001, or in the attack on Pearl Harbor

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Moderna Inc. (MRNA)
  • X
    Sanofi S.A. (SAN)
  • X
    Sanofi ADR (SNY)

or Cancel Already have a watchlist? Log In

By Ciara Linnane, MarketWatch

1 2

In other news:

• Sanofi /zigman2/quotes/206928357/delayed FR:SAN -0.50%   /zigman2/quotes/201967021/composite SNY -1.30%  and GlaxoSmithKline /zigman2/quotes/209463850/composite GSK -0.53% /zigman2/quotes/200381158/delayed UK:GSK +0.04% , French and British drug companies, respectively, will delay the launch of their joint COVID-19 vaccine until the end of 2021, after the first trials showed an insufficient response in older patients, MarketWatch’s Pierre Briançon reported. Their chief executives said in a joint release that they were “disappointed” at the result but insisted they were “confident and committed” that they would be able to submit it to regulators in the second half of 2021. The European Union had ordered 300 million doses of the vaccine (about a fifth of the total orders it has signed for vaccine candidates in development) and the U.K. has ordered 60 million.

• CSL /zigman2/quotes/206911412/delayed AU:CSL -2.50% , the Australian biotech company, said the vaccine it is developing with the University of Queensland would not move to Phase 2 trials as planned because some participants in the initial stage were shown as HIV-positive even though they were not infected with the virus causing AIDS.

• U.K. drug company AstraZeneca /zigman2/quotes/200304487/composite AZN -1.02%   /zigman2/quotes/203048482/delayed UK:AZN -0.49%  will investigate whether the vaccine it is currently developing with the University of Oxford could possibly be combined with Russia’s Sputnik V vaccine to boost its efficacy, the BBC reported. The companies will hold trials in Russia involving people over 18 years of age. AstraZeneca has said it is open to exploring combinations of vaccines to see whether mixing them provokes a stronger immune response. The Russian vaccine has been controversial as it was registered before a Phase 3 trial had been completed. Russia suffered a record 613 deaths from coronavirus on Friday, according to the Moscow Times.

• Germany is heading for a national lockdown to combat the spread of the virus and avoid overwhelming hospitals, the Guardian reported. Markus Söder, minister-president of the southern state of Bavaria, where cases have risen sharply in the past few days, said, “We have to act as soon as possible.” He said that every day counted, tweeting: “Why hesitate, when we know that it’s necessary? Which is why we need to push everything forward and act decisively. We need to wind everything down before Christmas.” Germany has had 1.3 million confirmed cases of COVID-19, and at least 21,064 people have died, the Johns Hopkins data show.

Click to Play

100 Million Shots in 100 Days: Biden’s Plan to Fight Covid-19

As he introduced his coronavirus team, President-elect Joe Biden outlined a plan for the first 100 days of his administration, saying he would push for mask wearing, mass vaccination and school reopenings. Photo: Chip Somodevilla/Getty Images

Latest tallies

The number of confirmed cases of COVID-19 worldwide climbed above 69.6 million on Friday, the Johns Hopkins data show, and the death toll is now 1.58 million. About 45 million people have recovered from COVID-19.

Brazil has the second highest death toll at 179,765 and is third by cases at 6.8 million.

India is second worldwide in cases with 9.8 million and third in deaths at 142,186.

Mexico has the fourth highest death toll at 112,326 and 12th highest case tally at 1.2 million.

The U.K has had 63,179 deaths, the highest in Europe and fifth highest in the world, and 1.8 million cases, sixth highest in the world.

Read also: Leading epidemiologist on why the virus has spread in a ‘surprisingly enduring’ way in Italy, and how Germany managed lower deaths

China, where the virus was first discovered late last year, has had 94,025 confirmed cases and 4,748 deaths, according to its official numbers.

What’s the economy saying?

U.S. wholesale prices rose in November by the smallest amount in seven months, underscoring the lack of inflationary pressure in an economy still struggling to emerge from the ravages of the pandemic, MarketWatch’s Jeffry Bartash reported.

The producer-price index climbed 0.1% last month, the government said Friday, matching the MarketWatch forecast. It’s risen seven months in a row since the economy reopened in May, but only at a very slow pace.

The rate of wholesale inflation in the past 12 months, for instance, was just 0.8% in November, up from 0.5% in the prior month. The index was growing at a yearly pace of 2% in January shortly before the coronavirus epidemic broke out.

“It’s hard to imagine a sustained serious inflation threat from the goods sector anytime soon,” said chief economist Ian Shepherdson of Pantheon Macroeconomics.

See: Consumer prices climb in November, CPI shows, but U.S. inflation still low

What are companies saying?

• AMC Entertainment Holdings Inc. /zigman2/quotes/200235402/composite AMC -4.19% has secured a commitment for $100 million of new first lien debt financing from Mudrick Capital Management LP, in its latest effort to bolster its liquidity. The world’s biggest cinema operator has repeatedly tapped capital markets this year as cinemas closed or operated at limited capacity. Mudrick Capital, which owns second lien notes issued by AMC, has also agreed to convert $100 million of existing AMC debt into common shares. AMC will issue 21.9 million shares as part of the deal.

• Lululemon Athletica Inc. /zigman2/quotes/204011506/composite LULU -3.32% reported profit and sales above Wall Street expectations, with online sales accounting for more than 40% of its total revenue for the quarter and offsetting store closures due to the pandemic. Revenue rose 22% to $1.1 billion, with direct-to-consumer revenue representing 43% of total sales, compared with a 27% share in the third quarter of fiscal 2019. Same-store sales increased 19%, the retailer said.

• Pfizer Inc. /zigman2/quotes/202877789/composite PFE +2.32% , fresh from its vaccine success, has raised its quarterly cash dividend to 39 cents a share from 38 cents in the year-earlier period. The new dividend will be payable March 5 to shareholders of record as of Jan. 29. The company said the transaction to combine its generics business Upjohn and Mylan to form Viatris Inc. closed on Nov. 16. “It is expected that Viatris will begin paying a quarterly dividend in the second quarter of 2021, at which time Pfizer’s quarterly dividend will be reduced such that the combined dividend dollar amount received by Pfizer shareholders, based upon the combination of continued Pfizer ownership and approximately 0.124079 shares of Viatris which were granted for each Pfizer share in the spinoff, will equate to Pfizer’s dividend amount in effect immediately prior to the initiation of the Viatris dividend,” the company said in a statement.

• The Walt Disney Co. /zigman2/quotes/203410047/composite DIS -0.67%  said a slate of big-budget movies — including “Raya and the Last Dragon” on March 5 — will open on its burgeoning streaming service and in theaters as part of a direct-to-consumer push. In coming years, Disney+ will be home to a firehose of 10 new Marvel series, 10 new “Star Wars” series, 15 animated and live-action Pixar and Disney series, and 15 Disney-Pixar films that will be newly branded as Disney+ Original. Disney’s streaming service now has 86.8 million subscribers, boosted by people spending more time at home during the pandemic, which has devastated many other parts of its business, including theme parks and film and TV production.

/zigman2/quotes/206928357/delayed
FR : France: Euronext Paris
83.77
-0.42 -0.50%
Volume: 2.43M
Dec. 3, 2021 5:37p
P/E Ratio
18.18
Dividend Yield
3.82%
Market Cap
€105.15 billion
Rev. per Employee
€362,542
loading...
/zigman2/quotes/201967021/composite
US : U.S.: Nasdaq
$ 47.07
-0.62 -1.30%
Volume: 2.04M
Dec. 3, 2021 4:00p
P/E Ratio
17.14
Dividend Yield
2.91%
Market Cap
$118.61 billion
Rev. per Employee
$413,288
loading...
/zigman2/quotes/209463850/composite
US : U.S.: NYSE
$ 41.25
-0.22 -0.53%
Volume: 4.09M
Dec. 3, 2021 4:00p
P/E Ratio
17.56
Dividend Yield
4.85%
Market Cap
$101.60 billion
Rev. per Employee
$464,855
loading...
/zigman2/quotes/200381158/delayed
UK : U.K.: London
1,534.60 p
+0.60 +0.04%
Volume: 4.44M
Dec. 3, 2021 4:35p
P/E Ratio
17.97
Dividend Yield
5.21%
Market Cap
£76.85 billion
Rev. per Employee
£362,501
loading...
/zigman2/quotes/206911412/delayed
AU : Australia: Sydney
$ 297.67
-7.63 -2.50%
Volume: 959,977
Dec. 3, 2021 4:10p
P/E Ratio
41.96
Dividend Yield
0.99%
Market Cap
$135.64 billion
Rev. per Employee
$550,459
loading...
/zigman2/quotes/200304487/composite
US : U.S.: Nasdaq
$ 54.23
-0.56 -1.02%
Volume: 5.75M
Dec. 3, 2021 4:00p
P/E Ratio
85.59
Dividend Yield
2.53%
Market Cap
$167.75 billion
Rev. per Employee
$362,602
loading...
/zigman2/quotes/203048482/delayed
UK : U.K.: London
8,191.00 p
-40.00 -0.49%
Volume: 1.58M
Dec. 3, 2021 4:35p
P/E Ratio
87.24
Dividend Yield
2.47%
Market Cap
£126.89 billion
Rev. per Employee
£282,763
loading...
/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 29.01
-1.27 -4.19%
Volume: 66.19M
Dec. 3, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$14.91 billion
Rev. per Employee
$43,642
loading...
/zigman2/quotes/204011506/composite
US : U.S.: Nasdaq
$ 435.72
-14.96 -3.32%
Volume: 1.28M
Dec. 3, 2021 4:00p
P/E Ratio
68.97
Dividend Yield
N/A
Market Cap
$56.56 billion
Rev. per Employee
$176,075
loading...
/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 54.27
+1.23 +2.32%
Volume: 37.57M
Dec. 3, 2021 4:02p
P/E Ratio
16.11
Dividend Yield
2.87%
Market Cap
$304.61 billion
Rev. per Employee
$533,860
loading...
/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 146.22
-0.98 -0.67%
Volume: 14.98M
Dec. 3, 2021 4:02p
P/E Ratio
134.09
Dividend Yield
0.00%
Market Cap
$265.78 billion
Rev. per Employee
$354,668
loading...

Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

1 2
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.