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(Bloomberg) — Moderna Inc. and BioNTech SE, the world’s leading Covid-19 vaccine makers, tumbled for the second day in a row, losing roughly $60 billion in combined market value as investors balked at the companies’ lofty valuations. The declines deepened Wednesday with Moderna closing 16% lower and BioNTech dropping 14% as trading volume picked up. The stocks had soared more than 360% each this year through Monday, when both set record closing highs. Wall Street has been divided on the… Source link

New weekly jobless claims likely took another step lower last week, with the labor market’s recovery still making headway despite the lingering threat of the Delta variant.  The Labor Department is set to release its weekly jobless claims report on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the print, compared to consensus estimates compiled by Bloomberg: Initial unemployment claims, week ended August 7: 375,000 expected and 385,000 during prior week  Continuing claims,… Source link

In light of gold’s (GC=F) flash crash on Monday, with the commodity dropping to its lowest price since March at $1,730.13 an ounce in New York by late afternoon, some investors may be growing wary about its efficacy as an inflation hedge in the near term. According to J.C. Parets, Allstarcharts.com founder and chief strategist, gold has become one of the worst investments over the past year. “Nobody wants your rocks, right? I mean, that’s the theme … the gold bugs have come up with… Source link

Samsung’s Galaxy Z Flip3 brings an improved, water-resistant design and sturdier display. (Image: Samsung) Samsung is bringing back the flip phone — again. The tech giant today announced that it’s rolling out the latest version of its clamshell-style, foldable-screen smartphone, the Galaxy Z Flip3 5G. Available for pre-order Aug. 11 and on sale Aug. 27 for $999, the Flip3 offers a slimmer design, and, thankfully, a more durable body to keep its flexible screen safe. The Android-powered Z… Source link

Step aside hard seltzer — Boston Beer Company (SAM) is partnering with Pepsi to add another drink to its portfolio, a spiked version of Mountain Dew. On Tuesday, the company announced its partnership with PepsiCo (PEP) to deliver HARD MTN DEW, with 5 percent alcohol. The boozy beverage will come in three flavors: original, black cherry and watermelon, and is expected to hit shelves in early 2022.  “The worlds of beer, spirits, wine, and even non-alc beverages are all starting to converge… Source link

By Dhirendra Tripathi Investing.com – Moderna (NASDAQ:MRNA) and BioNTech stocks (NASDAQ:BNTX) slumped by 15% each Wednesday on a report that Europe’s drug regulator is studying three new conditions reported by a small number of people after vaccination with Covid-19 shots to assess if they may be possible side-effects. The conditions were reported in patients who took the mRNA vaccines made by either Moderna or BioNTech-Pfizer. Pfizer stock fell 3%. Expenses and profit from the Covid… Source link

WASHINGTON, Aug 11 (Reuters) – U.S. consumer price increases slowed in July but inflation overall remained historically high amid continued supply-chain disruptions and stronger demand for travel-related services as economic activity rebounded.    The consumer price index increased 0.5% last month after climbing 0.9% in June, the Labor Department said on Wednesday.    In the 12 months through July, the CPI advanced 5.4%. Excluding the volatile food and energy components, the CPI rose… Source link

The $600m hack saw an about turn on Wednesday morning in London. Photo: Getty Hackers have started to return part of a $610m haul of stolen cryptocurrencies, in what appears to be a stunning reversal of one of the biggest ever crypto heists. News broke on Tuesday that hackers had stolen around $610m from Poly Network, a blockchain protocol which helps link blockchains together. About $267m of ethereum (ETH-USD), $252m of Binance coin (BNB-USD) and roughly $85m in USDC tokens were taken,… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, August 11, 2021 The COVID golf boom continues in 2021 In August 2020, we wrote in The Morning Brief that the golf business was booming during the pandemic.  In August 2021, the industry only looks stronger.  Within the last week, we’ve seen golf’s two biggest publicly-traded companies — Titleist parent company Acushnet (GOLF) and Source link

(Bloomberg) — NortonLifeLock Inc. is set to buy Avast Plc in a deal valued at as much as $8.6 billion, giving the U.S. cybersecurity company access to one of the biggest customer bases in the industry. Avast stockholders will receive cash and shares that value the deal at $8.1 billion to $8.6 billion, the companies said Tuesday in a statement. Once the merger is completed, NortonLifeLock Chief Executive Officer Vincent Pilette will remain CEO and the company will have dual headquarters in… Source link