Duke Energy targets 5%-7% EPS CAGR through 2025 » 16:5306/1106/11/21
Off 2021 midpoint of…
Off 2021 midpoint of $5.15. Says "on track" to achieve 2021 adjusted EPS guidance of $5.00-$5.30, consensus $5.18. Sees 2021-2025 CapEx $59B; 2025-2029 CapEx $65B-$75B. Says no common equity issuances in 5-year plan. Guidance taken from investor presentation slides.
Novavax reports 'positive' data from COVID-19 Beta variant vaccine studies » 16:0606/1106/11/21
Novavax announced preclinical and clinical data on the company's recombinant protein COVID-19 vaccine candidate, NVX-CoV2373, directed against the SARS-CoV-2 Beta variant, which was originally identified in South Africa. The data show that the vaccine demonstrated strong immunogenicity and protection against both the Alpha variant, which was originally identified in the United Kingdom, and the Beta variant as well as the original SARS-CoV-2 in animal and human studies. "While current vaccines are effective against selected SARS-CoV-2 variant strains, newly emerging variants are also being identified that have the ability to overcome vaccine induced immunity," said Matthew Frieman, PhD, Associate Professor of Microbiology and Immunology at the University of Maryland School of Medicine, who collaborated on these studies. "This work demonstrates that variant vaccines that protect against these newly emerging variants have the potential to be highly effective and may produce broader protection against variants we know of and those that will arise in the future. Clinical trials will provide further evidence on the effectiveness of variant vaccines." The studies compared the Beta-directed vaccine to Novavax' prototype vaccine candidate as standalone, in combination, and as heterologous prime boost vaccine. The findings show a broad array of cellular and humoral responses in animal models against all virus strains evaluated. The Alpha and Beta variant strains have created public health concerns due to increased transmission rates and lower efficacy of current vaccines seen against Beta. Novavax expects to initiate further clinical testing of rS-B.1.351 in the fall of 2021.
Facebook says work from home policy could slow Irish jobs growth, Reuters says » 12:1206/1106/11/21
Facebook's Ireland chief Gareth Lambe said that the company still intends to "aggressively" grow employee numbers in its European headquarters in Ireland, though he noted that a company-wide policy allowing permanent remote work from other countries could hamper growth over time, Reuters' Padraic Halpin reports. Lambe said the company was still working out how many Irish-based staff would be eligible to take advantage of the policy, the author says, noting that fewer than half the unit's staff are Irish nationals. "We're going to continue to grow aggressively," he told national broadcaster RTE. "This won't have on balance a material impact on the growth of employment for Facebook in Ireland," Lambe added, referring to the remote working policy. "We have a target this year of adding about an additional 700 employees and we're going to continue to do that and we're going to continue to grow." Reference Link
EMA recommends Pfizer's Xeljanz only be used in patients over 65 » 11:3006/1106/11/21
Pfizer announced that the…
Pfizer announced that the Pharmacovigilance Risk Assessment Committee of the European Medicines Agency has recommended that Xeljanz should only be used in patients over 65 years of age, patients who are current or past smokers, patients with other cardiovascular risk factors, and patients with other malignancy risk factors, if no suitable treatment alternative is available. The recommendation is based on the receipt of data from the post-marketing requirement study ORAL Surveillance in rheumatoid arthritis patients, Pfizer said in a statement.
Amazon, tech peers could be forced to shed assets under new bill, WSJ says » 11:0006/1106/11/21
AMZN, AAPL, FB, GOOGL, GOOG
House lawmakers are…
House lawmakers are preparing to propose bipartisan legislation, which could be announced Friday, that may require Amazon (AMZN) and other technology giants to effectively split into two companies or shed their private-label products, according to The Wall Street Journal's Dana Mattioli and Ryan Tracy, citing people familiar with the matter. Another bill that also could be announced Friday targets the ability of big tech companies to leverage their online platforms to favor their own products over competitors and is among five bills under consideration that aim to curb the dominance of Amazon as well as other tech giants including Apple (AAPL), Facebook (FB) and Alphabet's (GOOGL) Google, the report said. Reference Link
Fly Intel: Top five analyst initiations » 09:5406/1106/11/21
VXRT, NDAQ, NTLA, GPOR, TENB
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Vaxart (VXRT) initiated with an Overweight at Piper Sandler. 2. Nasdaq (NDAQ) initiated with an Overweight at Morgan Stanley. 3. Intellia Therapeutics (NTLA) initiated with a Buy at H.C. Wainwright. 4. Gulfport Energy (GPOR) initiated with a Buy at Truist. 5. Tenable Holdings (TENB) initiated with a Buy at Needham. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Tigress sees Alphabet shares rising to $3,185 in 12 months » 09:2406/1106/11/21
Tigress Financial analyst…
Tigress Financial analyst Ivan Feinseth reiterates a Strong Buy rating on Alphabet and initiates a 12-month target price of $3,185, which represents a potential return of over 30% from current levels. Accelerating growth in online advertising and spending, along with increasing cloud growth and margin expansion, will continue to drive further share price gains, Feinseth tells investors in a research note. The analyst says Alphabet continues to benefit from the ongoing secular shift to digital advertising and online spending.
Magnite partnerships can help accelerate shift in spend to CTV, says Stephens » 08:0706/1106/11/21
Stephens analyst Nicholas…
Stephens analyst Nicholas Zangler said he like Magnite's (MGNI) recently announced IRIS.TV and tvScientific partnerships, which he thinks can help accelerate the "inevitable shift in ad spend" from linear TV and search/social into the Connected TV segment. The analyst, who believes that over time "virtually all linear TV advertising will be converted to CTV," keeps a Buy rating and $48 price target on Magnite shares, but argues the stock "would be trading at $60" if it was awarded the multiple granted to Trade Desk (TTD).
Needham starts Tenable Holdings at Buy, sees FY22 payoff from investment year » 07:3606/1106/11/21
As previously reported,…
As previously reported, Needham analyst Mike Cikos initiated coverage of Tenable Holdings with a Buy rating and $51 price target. The company offers "differentiated strategy" toward reducing the "CyberExposure Gap", while its recently acquired Alsid presents a unique asset that will expand its total addressable market, the analyst tells investors in a research note. Cikos adds that 2021 is an "investing year" for Tenable, but he expects its revenue growth in 2022 to accelerate from the 18%-19% this year.
Facebook's Zuckerberg to work remotely for at least half of next year, WSJ says » 06:1206/1106/11/21
Facebook CEO Mark…
Facebook CEO Mark Zuckerberg plans to work remotely for half of the next year, telling staff in a memo this week that working from home makes him "happier and more productive," The Wall Street Journal's Chip Cutter reports. Reference Link