Tag Archives: Royal Caribbean Cruises Ltd

Walmart, Taiwan Semiconductor, Netflix, Carnival and more

Bing Guan | Bloomberg | Getty Images

Check out the companies making the biggest moves midday.

Walmart — Shares of retailer Walmart jumped more than 7% after reporting quarterly earnings that beat Wall Street’s expectations and raising its forward guidance. The company reported adjusted earnings per share of $1.50 on $152.81 billion in revenue, where analysts expected adjusted earnings per share of $1.32 and $147.75 billion in revenue, per Refinitiv.

Retail stocks — Retail stocks rose following Walmart and Home Depot‘s stronger-than-expected financial reports for the third quarter. Home Depot rose 1%, while Target shares rallied more than 3%. Kohl’s and Bed Bath & Beyond added roughly 3%. Macy’s and Nordstrom advanced about 5% and 3%, respectively.

Taiwan Semiconductor — Shares of the Taiwanese chipmaker soared more than 12% after Warren Buffett’s Berkshire Hathaway built a $4 billion new stake in the company. Berkshire added more than 60 million shares of the Taiwanese chipmaker’s American depositary receipts, by the end of the third quarter, making Taiwan Semi the conglomerate’s 10th biggest holding at the end of September.

Paramount Global — Shares of the media company jumped more than 9% after a filing revealed that Berkshire Hathaway increased its holding to $1.7 billion at the end of the third quarter. Paramount is still down more than 30% this year as it suffered from cord cutting and a drop in advertising revenue.

Louisiana-Pacific — The lumber maker saw its stock jump more than 10% after Omaha-based Berkshire took new positions in the company last quarter. The conglomerate’s stake was worth $297 million at the end of September.

Bath & Body Works — Bath and Body Works rose 4% after an SEC filing revealed that Dan Loeb’s Third Point bought $265 million in the retailer’s stock in the third quarter.

Netflix — The streaming giant added 3.8% after Bank of America double-upgraded the stock to a buy from underperform. He said the new ad tier and crackdown on password sharing could help the stock’s value increase 23.6%.

Fulcrum Therapeutics — Shares of the biotechnology company gained 8.6% after Goldman Sachs initiated coverage of the stock as a buy and said it could see an upside of 61.5% if its main experimental drugs kept performing well.

Vodafone — Vodafone’s stock dropped 6.8% after the company cut its earnings guidance and cash flow forecast. The mobile operator cited a challenging economic environment.

Getty Images — Getty Images’ stock plummeted 12% after revenue for the recent quarter missed Wall Street’s expectations.

Albemarle — Shares of the lithium miner dropped 6%. Rumors that an unnamed Chinese cathode manufacturer was cutting its production targets was putting pressure on U.S. lithium stocks, according to FactSet.

Signature Bank — Shares of the crypto bank jumped more than 10% after Signature reported minimal exposure to FTX and any potential destruction that could come from its collapse. Signature said it has only a deposit relationship with the exchange — it does not lend crypto or invest in it on behalf of clients — representing less than 0.1% of its overall deposits.

Mobileye Global — The autonomous vehicle systems software company rallied 4% after Baird initiated coverage of the stock with an outperform rating. Analyst Luke Junk called Mobileye a market leader, writing, “Net, we recommend purchase/would lean into any volatility, for this premier franchise/longer-term optionality.”

Sunnova Energy — Shares of solar company rose 7.5% after Deutsche Bank initiated coverage of Sunnova Energy, First Solar and Enphase Energy with buy ratings. First Solar was up 3.2%, and Enphase Energy rose 2%.

Capital One Financial — The regional bank’s stock sank 5% after it was downgraded by Bank of America to neutral from buy. Analyst Mihir Bhatia also cut his price target to $113 per share from $124.

Carnival — Shares of the cruise operator rose 6% after another report hinted inflation could be slowing. Royal Caribbean Cruises and Norwegian Cruise Line were also higher, up 4.9% and 2.5% respectively.

Chinese stocks — Chinese companies listed on the U.S. stock market rose following President Joe Biden’s meeting with China President Xi Jinping and despite disappointing retail sales data. Tencent Music Entertainment, which also posted beats on the top and bottom lines, soared about 30%. Alibaba rose roughly 12%. Pinduoduo and Baidu both rallied about 10%, and JD.com rose nearly 8%.

— CNBC’s Yun Li, Carmen Reinicke, Alex Harring, Samantha Subin and Tanaya Macheel contributed reporting.

Read original article here

Carnival shares fall on ballooning costs, dragging cruise stocks lower

The brand new Carnival Cruise Line ship Mardi Gras, docked at Port Canaveral, Florida, on July 30, 2021.

Joe Burbank | Orlando Sentinel | Tribune News Service | Getty Images

Shares of Carnival fell below their pandemic lows Friday after the cruising company posted third-quarter earnings that revealed higher costs associated with inflation, supply chain disruptions and the maintenance of health and safety protocols.

Shares of Carnival were down around 20% in late morning trading. The stock fell to a 52-week low of $7.01 earlier in the session, below the stock’s pandemic plunge lows in April 2020, when shares traded around $7.80 intraday.

If Friday’s losses hold, it would knock almost $3 billion off Carnival’s market value. Shares of Norwegian and Royal Caribbean also fell Friday, down 14% and 11%, respectively.

Carnival reported adjusted net losses of $770 million, or 65 cents per share, on $4.3 billion in revenue. Operating costs and expenses totaled $3.4 billion during the quarter, compared with costs of $1.6 billion in the third quarter 2021.

Carnival said bookings improved 15 percentage points from the prior quarter to 84%. That compares with 54% occupancy during the same period in 2021. Despite governments relaxation of pandemic-era protocols in both the U.S. and, more recently, Canada, the company is projecting fourth-quarter bookings below 2019 levels — at lower prices.

Cruise companies across the board are struggling with massive debts taken on during Covid lockdowns, made more expensive by rising interest rates. Carnival on Friday morning reported $1 billion in principal payments so far for 2022 and a total of $9 billion due by 2025.

Read original article here

Uber, DoorDash, Coinbase and more

Uber Eats delivery

Jonathan Raa | NurPhoto via Getty Images

Check out the companies making headlines in midday trading.

Uber, DoorDash – Shares of Uber slumped 4.6% and DoorDash fell 9% on news that Amazon agreed to take a stake in Grubhub in a deal that will give Prime subscribers a one-year membership to the food delivery service.

Coinbase – Coinbase slipped 3.1% after Atlantic Equities downgraded the crypto exchange to neutral and slashed its price target, citing increased volatility in the industry.

Netflix – Netflix dropped 2.1% after Barclays slashed its price target for the streaming service to $170 from $275, anticipating a subscriber loss in the second quarter amid increased competition.

Rocket Companies – Shares of the consumer fintech company jumped 5.5% after Wells Fargo upgraded it to an overweight rating and said Rocket’s set up for a big comeback after tumbling more than 42% this year. Despite a “tough mortgage backdrop,” Rocket will “continue to take market share from its peers,” Wells Fargo said.

Rivian — The electric vehicle maker surged more than 10% after saying it’s on track to deliver 25,000 vehicles this year. In its most recent quarter, Rivian said it produced 4,401 vehicles, and delivered 4,467, in line with the company’s expectations.

Energy stocks – Energy stocks slid Wednesday as oil continued its slump from Tuesday, slipping to about $95 a barrel. The S&P 500 Energy sector fell 4% with shares of Marathon Oil, Conocophillips and Halliburton falling 5.1%, 3.9% and 4.1%, respectively. Occidental Petroleum weakened 2.5%, while Exxon Mobil fell 3.8%.

Cruise stocks – Norwegian Cruise Line Holdings slumped 9.6%, Royal Caribbean fell 5.9%, and Carnival eased 6.7% on concern about second-half cruise ship demand. Norwegian said it would no longer require guests to test for Covid-19 before joining a cruise, unless required by local regulations.

— CNBC’s Tanaya Macheel, Samantha Subin and Sarah Min contributed reporting.

Read original article here

Monkeypox outbreak is primarily spreading through sex, WHO officials say

An outbreak of the monkeypox virus in North America and Europe is primarily spreading through sex among men with about 200 confirmed and suspected cases across at least a dozen countries, World Health Organization officials said Monday.

The outbreak has quickly advanced across Europe and North America over the last week and is expected to be far more widespread as more doctors look for the signs and symptoms. Two confirmed and one suspected case of monkeypox in the U.K. were reported to the WHO just 10 days ago, the first cases this year outside of Africa where the virus has generally circulated at low levels over the last 40 years, the organization said.

“We’ve seen a few cases in Europe over the last five years, just in travelers, but this is the first time we’re seeing cases across many countries at the same time in people who have not traveled to the endemic regions in Africa,” Dr. Rosamund Lewis, who runs WHO’s smallpox research, said in a Q&A livestreamed on the organization’s social media channels.

European nations have confirmed dozens of cases in what’s become the largest outbreak of monkeypox ever on the continent, according to the German military. The U.S. has confirmed at least two cases and Canada has confirmed at least five so far. Belgium just introduced a mandatory 21-day quarantine for monkeypox patients.

The WHO convened an emergency meeting this weekend via video conference to look at the virus, identify those most at risk and study its transmission. The organization will hold a second global meeting on monkeypox next week to more thoroughly study the risks and treatments available to fight the virus.

While the virus itself is not a sexually transmitted infection, which are generally spread through semen and vaginal fluids, the most recent surge in cases appears to have been spread among men who have sex with other men, WHO officials said, emphasizing that anyone can contract monkeypox.

“Many diseases can be spread through sexual contact. You could get a cough or a cold through sexual contact, but it doesn’t mean that it’s a sexually transmitted disease,” said Andy Seale, who advises WHO on HIV, hepatitis and other sexually transmitted infections.

The virus is spread through close contact with people, animals or material infected with the virus. It enters the body through broken skin, the respiratory tract, the eyes, nose and mouth. Though human-to-human transmission is believed to occur through respiratory droplets as well, that method requires prolonged face-to-face contact because the droplets cannot travel more than a few feet, according to the CDC.

“This is a virus that is super stable outside the human host, so it can live on objects like blankets and things like that,” Dr. Scott Gottlieb told CNBC in a separate interview Monday. “And so you can see situations where people become reluctant to try on clothing, things like that, where it could become disruptive in areas where this is spreading, like New York City.”

He said to expect more confirmed cases in the U.S. in the coming weeks as doctors and public health officials reevaluate patients who have presented with symptoms and the virus continues to spread.

Monkeypox is a disease caused by a virus in the same family as smallpox but is not as severe, according to the Centers for Disease Control and Prevention. However, monkeypox can kill as many as 1 in 10 people who contract the disease, based on observations in Africa, according to the CDC.

The vaccine used to prevent smallpox appears to be about 85% effective in guarding against monkeypox in observational research in Africa, WHO officials said. But the vaccines aren’t widely available so it’s important to reserve them for populations that are most at risk, said Maria Van Kerkhove, the WHO’s leading epidemiologist on zoonotic diseases. She said WHO will be teaming up with vaccine makers to see if they can ramp up production.

Early symptoms of monkeypox include a fever, headache, back pain, muscle aches and low energy, WHO officials said. That then progresses to a rash on the face, hands, feet, eyes, mouth or genitals that turns into raised bumps, or papules, that then become blisters that often resemble chicken pox. Those can then fill with a white fluid, becoming a pustule, that breaks and scabs over.

Gottlieb described it as a disabling disease that can last two to four months and has a lengthy 21-day incubation period.

“I don’t think this is going to be uncontrolled spread in the same way that we tolerated the Covid-19 epidemic,” Gottlieb said. “But there is a possibility now this has gotten into the community if in fact it’s more pervasive than what we’re measuring right now, that becomes hard to snuff out.”

— CNBC’s Spencer Kimball and Karen Gilchrist contributed to this article.

Disclosure: Dr. Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings′ and Royal Caribbean‘s “Healthy Sail Panel.”

Read original article here

Dr. Scott Gottlieb says rising monkeypox cases suggest it’s spread ‘pretty wide’

The rising number of monkeypox cases in the U.S. and Europe suggest the virus has already spread widely across communities, but it won’t likely cause a major epidemic like Covid, Pfizer board member and former FDA Commissioner Dr. Scott Gottlieb told CNBC on Friday. 

“Now that there’s been community spread, it may be hard to fully snub this out. I don’t think it’s going to become a major epidemic because this is a virus that’s difficult to spread,” Gottlieb said on “Squawk Box.”

Monkeypox is a rare viral illness that begins with flu-like symptoms and the swelling of lymph nodes, eventually progressing to a rash on the body and face. Monkeypox spreads through open contact with the sores of a person infected, and has a long incubation period of 21 days or more, according to Gottlieb. He said this means many people may be incubating the virus since patients infected were likely undiagnosed or misdiagnosed. 

Gottlieb’s remarks come two days after U.S. health officials confirmed a case of the virus in a man from Massachusetts who recently traveled to Canada. The New York City Department of Health said Thursday it’s investigating a possible case in a man who’s being treated at NYC Health + Hospitals Bellevue. 

Monkeypox, which reemerged in Nigeria in 2017, has been spreading in several countries in the last few weeks, leaving health officials scrambling to warn clinicians and the public about the virus. 

Gottlieb added that there have been numerous disconnected cases, indicating that the spread in the community is “pretty wide.” He said there might be a lot more infection than what health officials have found since it has such a long incubation period and doctors don’t know to look for it yet.

But he said the U.S. could just see a low level of spread that “just becomes hard to stop” since it may be difficult to deploy public health measures, such as mass immunization using the Vaccinia virus vaccine.  

He noted that the virus is endemic in some countries, with the Democratic Republic of the Congo reporting anywhere from five to 10,000 cases a year.  

CNBC Health & Science

Read CNBC’s latest global coverage of the Covid pandemic:

“That’s the concern, not a widespread epidemic here at this point. But this just low-level persistent spread, cases popping up here and there, outbreaks,” Gottlieb said. 

However, he emphasized the virus could still be dangerous. The case fatality rate for the strain spreading is anywhere from 1% to 4%, according to Gottlieb. He described it as a “disabling” virus that can last for two to four months, causing a fever and sores.

The CDC on Wednesday urged clinicians to identify patients with rash illnesses consistent with monkeypox. People suspected of having the virus should be isolated in a negative pressure room — spaces used to isolate patients — and staff should wear appropriate personal protective equipment around them, according to the agency. 

Disclosure: Dr. Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings′ and Royal Caribbean‘s “Healthy Sail Panel.”

Read original article here

Moderna, Royal Caribbean, Cerner and others

Check out the companies making headlines before the bell:

Moderna (MRNA) – Moderna shares jumped 7.2% in the premarket after the drugmaker said a booster dose of its Covid-19 vaccine increased protection against the omicron variant 37-fold. Amid the spread of omicron, other vaccine makers are also seeing gains with Pfizer (PFE) up 1.4%, BioNTech (BNTX) adding 3.1% and Novavax (NVAX) surging 10.3%.

Cruise line operators – The surge in omicron cases is weighing on cruise stocks, with more pressure after a Royal Caribbean (RCL) ship docked in Miami with 48 cases of Covid. Royal Caribbean dropped 2.9% in premarket trading, with Carnival (CCL) down 2.9% and Norwegian Cruise Line (NCLH) falling 3.6%.

Airline stocks – Omicron concerns are also weighing on the airline stocks, with United Airlines (UAL) falling 2.9%, American Airlines (AAL) sliding 2.8%, Delta Air Lines (DAL) falling 2.8%, Southwest (LUV) down 2.3% and JetBlue (JBLU) losing 2.2%.

Biogen (BIIB) – Biogen rallied 3.6% in the premarket after announcing it would cut the price of its Alzheimer’s drug Adulhelm by 50% in order to improve access to the treatment.

Cerner (CERN) – The medical records technology provider will announce a deal today to be acquired by Oracle (ORCL) in an all-cash transaction “in the mid-$90s” per share, according to CNBC’s David Faber. Cerner shares jumped 13% Friday after the Wall Street Journal reported the two sides were close to an agreement. Cerner was up another 1.7% in premarket trading.

Canopy Growth (CGC) – The cannabis producer slid 3.4% in premarket action after Piper Sandler downgraded the stock to “underweight” from “neutral”, citing sales trends that are under pressure across Canopy’s businesses.

Sunrun (RUN) – The solar company’s stock tumbled 9.4% in the premarket following a KeyBanc downgrade to “sector weight” from “overweight.” That follows proposals in California that would reduce “net metering” benefits for solar power customers and reduce incentives to buy such systems.

AT&T (T) – Barclays upgraded AT&T to “overweight” from “neutral,” based on a better broadband outlook for telecom companies than for cable providers. AT&T was up 1.6% in the premarket.

Verso (VRS) – The Ohio-based maker of specialty, graphic and packaging paper will be acquired by Swedish paper producer BillerudKorsnäs in a deal worth $27 per share in cash. Verso surged 32.2% in premarket trading.

Axon Enterprise (AXON) – The maker of stun guns and body cameras saw its stock jump 7.3% in the premarket, following a number of stock purchases by company insiders.

Novo Nordisk (NVO) – The Denmark-based drugmaker saw its shares slide 4.2% in premarket trading after saying supply issues in the U.S. market would leave it unable to meet demand for its weight-loss drug Wegovy.

Read original article here

Omicron may extend pandemic, still sees ‘transition year’ ahead

Dr. Scott Gottlieb told CNBC the omicron variant “extends the timeline” on when Covid will go from being a health emergency to something the world learns to live with.

“I still think this is going to be a transition year,” Gottlieb said Tuesday night on “The News with Shepard Smith.” It’s likely we will “go from a pandemic into a more endemic phase” but later.

On Nov. 5, the former FDA chief and current Pfizer board member, told CNBC the pandemic phase of Covid could be over in the U.S. in early January.

Recent studies out of South Africa said omicron significantly reduces antibody protection in those with the Pfizer/BioNTech Covid vaccine.

However, on Wednesday morning, Pfizer said its own research showed a third shot of its Covid vaccine neutralized omicron.

Before that news, Gottlieb said the best thing to do is get vaccinated and boosted, “hopefully three doses of vaccine will be protective” enough as the booster “functions like getting infected.”

Gottlieb, current board member of Covid vaccine maker Pfizer, told Shepard Smith he made that prediction when it was assumed delta was the variant to worry about most. However, the doctor said omicron represents a “divergent evolution” of Covid and that could alert the trajectory of spread in the U.S. and around the world “even after the population has a lot of immunity from infection.”

That might be what’s happening right now in South Africa, said Gottlieb, who led the Food and Drug Administration during former President Donald Trump’s time in office.

“The reason why you’re seeing less severe disease and fewer hospitalizations relative to cases is many people in South Africa had infection with delta,” he said. “So when they’re getting re-infected with this variant, maybe their delta immunity isn’t protective against infection but protecting them against symptomatic disease and severe outcomes.”

Pfizer CEO Albert Bourla said Tuesday that omicron appears to be milder, but it might also spread faster, which leaves more opportunity for variants to later develop.

The South African Medical Research Council said Saturday that most hospitalized patients with the new variant didn’t require supplemental oxygen. Dr. Anthony Fauci, chief medical advisor to the White House said preliminary data like this was “a bit encouraging.”

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings′ and Royal Caribbean‘s “Healthy Sail Panel.”

Read original article here

Dr. Scott Gottlieb says antiviral pills, kids’ vaccines key to ending pandemic phase

Dr. Scott Gottlieb said Wednesday he expects the coronavirus’ “pandemic phase” to be over in the U.S. once vaccines become available for children and Merck’s antiviral pill is cleared by regulators.

The other crucial development is for the highly transmissible Covid delta variant to have “moved through the country,” which is likely conclude around Thanksgiving, Gottlieb told CNBC’s David Faber in a Squawk on the Street” interview from 13D Monitor’s Active-Passive Investor Summit in New York City.

“On the back end of that, we’re going to have, hopefully, a vaccine available for children and, at some point before the end of the year, we probably will have the orally available drug from Merck if things go well and that undergoes a favorable review,” said Gottlieb, a former Food and Drug Administration commissioner who now serves on the board of Covid vaccine maker Pfizer, which is also working on an antiviral pill.

“I think those two things are going to be the bookend on the pandemic phase of this virus and we’re going to be entering the more endemic phase, when this becomes an omnipresent risk but don’t represent the extreme risk that it represents right now,” Gottlieb said.

Seasonal flu is one example of an endemic virus.

Gottlieb has previously told CNBC the U.S. is unlikely to ever fully eradicate Covid like other diseases such as polio and smallpox.

An FDA advisory panel is set to meet Oct. 26 to discuss whether use of Pfizer’s Covid vaccine should be expanded to kids ages 5 to 11. Pfizer and its German partner BioNTech submitted their initial trial data focused on that age cohort to the regulatory agency last week. The FDA has already cleared the companies’ vaccine for individuals ages 12 and up, including full approval for those ages 16 and older.

On Friday, Merck said its antiviral pill, developed alongside Ridgeback Biotherapeutics, reduced the risk of hospitalization or death by roughly 50% in trial participants who had mild to moderate cases of Covid. The companies said they planned to file for emergency use authorization with the FDA “as soon as possible.”

Gottlieb said he believes children becoming eligible for the vaccine and vaccinated people having the option to take an antiviral pill should they have a breakthrough infection will be “two very important psychological events,” particularly as it relates to resuming activities such as going back to the office.

“A lot of people who are vaccinated who are worried about going back into the office recognize the risk to them is low. They’re vaccinated. They’re unlikely to have a very bad outcome from Covid,” said Gottlieb, who led the FDA from 2017 to 2019 in the Trump administration. “What they’re worried about is bringing a mild or asymptomatic infection back into their home where they might have young kids or an older relative.”

Currently, 76% of eligible Americans — those ages 12 and up — have received at least one Covid vaccine dose, according to data compiled by the Centers for Disease Control and Prevention. Nearly 66% are fully vaccinated.

The overall number of new daily coronavirus infections in the U.S. has been declining in recent days, after the delta variant sparked a fresh surge of cases that hit parts of the country at different times. It began this summer, first ripping through the American South before spreading to more Western and Midwestern states.

The seven-day average of daily new U.S. Covid cases is roughly 103,000, according to a CNBC analysis of Johns Hopkins University data. That’s down 11% compared with one week ago, but it remains considerably above where infection levels stood in early summer. In June, the weekly average of new cases per day was below 15,000.

— CNBC’s Nate Rattner contributed to this report.

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings‘ and Royal Caribbean‘s “Healthy Sail Panel.”

Read original article here

Dr. Scott Gottlieb expects families will gather for holidays

Dr. Scott Gottlieb told CNBC on Monday that unlike in 2020 he fully expects families and friends to gather around the holidays this year. He also suggested there are ways to do so that can minimize Covid risk.

“Nothing is going to stop us from getting together, and we’re going to be getting together for Thanksgiving and we’re going to be getting together for Christmas,” the former Food and Drug Administration commissioner said on “Squawk Box.” He’s now on the board of Covid vaccine maker Pfizer.

Gottlieb’s comments came one day after White House chief medical advisor Dr. Anthony Fauci said in a CBS interview it was “just too soon to tell” whether large group gatherings for Christmas would be safe.

“We’ve just got to concentrate on continuing to get those numbers down and not try to jump ahead by weeks or months and say what we’re going to do at a particular time,” Fauci said on “Face the Nation,” referring to the fact U.S. coronavirus cases surged in recent months due to the highly transmissible delta variant.

“Let’s focus like a laser on continuing to get those cases down, and we can do it by people getting vaccinated and also, in the situation where boosters are appropriate, to get people boosted, because we know they can help greatly in diminishing infection and diminishing advanced disease,” Fauci added.

In 2020, the Centers for Disease Control and Prevention advised Americans not to travel for Thanksgiving in order to reduce the risk of coronavirus spread. A similar warning was issued then for December holidays.

Gottlieb said last year his family did not hold a Thanksgiving gathering due to the pandemic.

On Monday, however, he suggested this fall is different with Covid vaccinations for adults widely available. Gottlieb has also said Pfizer’s coronavirus shot could be authorized on an emergency use basis for kids 5 to 11 as early as Halloween.

Currently, the two-shot Pfizer-BioNTech vaccine is fully approved in the U.S. for people 16 and up and on emergency use authorization for adolescents 12 to 15. Last month, Pfizer boosters for older Americans, at-risk individuals, and front-line workers were cleared.

Also in the U.S., Moderna’s two shot Covid vaccine is cleared on emergency use for adults 18 and up. Johnson & Johnson’s one-shot vaccine is also on emergency use for adults. Next week, the FDA will meet to consider booster shots for Moderna and J&J recipients.

“I think what people need to do is judge what the prevalence is in their local community and what the risk is within their family setting,” said Gottlieb, who led the FDA from 2017 to 2019 in the Trump administration.

“If you have older individuals, young kids who aren’t vaccinated who could introduce infection into that setting, people should just be prudent,” he added. “Use [Covid] testing as a way to secure that kind of encounter. But there’s nothing that’s going to prevent us from being able to gather around the holidays this year.”

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings‘ and Royal Caribbean‘s “Healthy Sail Panel.”

Read original article here

Carnival, Nike, Match and more

The Carnival Cruise Ship ‘Carnival Vista’ heads out to sea in the Miami harbor entrance known as Government Cut in Miami, Florida June 2, 2018.

RHONA WISE | AFP | Getty Images

Check out the companies making headlines in midday trading.

Carnival — Carnival shares rose 4% after the cruise line said voyages for the third quarter were cash flow positive and expects this to continue. Shares of Norwegian Cruise Line gained 3.2% and Royal Caribbean added 3%.

Match Group — Shares of Match Group rose 3.6% after the online dating platform announced on Thursday that it will sell shares of its common stock in a registered direct offering. The price per share and number of shares of common stock issued will be calculated by a volume-weighted average price during a five-day averaging period starting Friday, the company said.

Merck — Shares of the pharmaceutical giant rose 1.2% on Friday after Merck and AstraZeneca announced that treatment using the drug Lynparza showed positive results in a phase-three trial. The trial results suggest that the treatment slows the progression of prostate cancer and show a trend toward increased survival, the companies said.

Nike — The apparel stock fell more than 6% after Nike cut its full-year guidance for sales growth. The company said supply chain issues in Vietnam were slowing sales. Nike now projects mid-single-digit revenue growth for its 2022 fiscal year, down from prior guidance of low-double-digit growth.

Costco — Shares of the retailer jumped more than 2% following Costco’s fourth-quarter results. The company beat top- and bottom-line estimates during the quarter, earning $3.90 per share excluding items on $62.68 billion in revenue. Analysts surveyed by Refinitiv were expecting $3.57 per share on $61.3 billion in revenue.

Salesforce — Salesforce extended its Thursday gains, rising 2.2% after Piper Sandler upgraded the stock to overweight from neutral, saying it’s confident the company could see “a multi-year period of multiple and profit expansion.” The stock jumped on Thursday after the software company raised its full-year 2022 revenue guidance.

Coinbase — Shares of the cryptocurrency exchange slid about 1.6% even after Needham reiterated the stock as a buy. Cryptocurrencies plunged Friday morning on news that China is issuing yet another crypto crackdown. Coinbase derives 90% of its revenue from retail transactions, which is highly correlated with crypto asset prices, according to Needham, so its stock price tends to move in tandem with cryptocurrencies.

Cheesecake Factory, Dave & Buster’s — Cheesecake Factory and Dave & Buster’s added 4.4% and 5.2%, respectively, after Jefferies upgraded the restaurant stocks to buy from hold. “We are incrementally more positive on the full service category following delta/inflation sell-off and exuberant Consensus forecasts reigned in,” Jefferies said.

Roku — Roku shares fell 3.8% after Wells Fargo downgraded the video streaming platform to equal weight from overweight. Wells Fargo said rising competition makes expectations for Roku’s revenue growth likely too high.

— CNBC’s Jesse Pound, Pippa Stevens and Tanaya Macheel contributed reporting

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today

Read original article here