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Tesla, Amazon, Lucid, Wayfair, Sumo Logic: Trending Stocks
Major Wall Street indices closed in the green on Monday as investors and traders began considering the possibility of a slowdown in the pace of the Federal Reserve’s rate hikes. A report in The Wall Street Journal indicated central bank officials are preparing to slow the rate hike pace for a second straight meeting in early February on growing hopes of easing inflation. Comments by Fed Governor Christopher Waller on Friday that indicated a favor toward a quarter-percentage-point rate hike at the next meeting boosted investor sentiments, according to CNBC. The following stocks drew heavy investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 7.74% higher on Monday. The stock movement could be attributed to overall market strength, recent reaction to the company’s price cuts, and CEO Elon Musk’s ongoing trial over his 2018 ‘funding secured’ comments. Elon Musk told jurors on Monday he was sure he had secured financial support from Saudi investors in 2018 to take Tesla private and could even have utilized his stake in SpaceX to fund a buyout, reported Reuters.
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2. Amazon.com, Inc. AMZN: Shares of Amazon closed 0.28% higher on Monday. The company announced the launch of Amazon Air in India to further enhance its transportation network.
3. Lucid Group Inc LCID: Shares of Lucid closed 12.79% higher on Monday. Citi analyst Itay Michaeli resumed coverage of Lucid with a ‘Buy’ rating and a $12 price target which is about 50% higher than the current stock price.
4. Wayfair Inc W: Shares of Wayfair closed 26.8% higher on Monday. Multiple analysts have upgraded the stock in the wake of the company’s cost-efficiency plan and business performance update. JPMorgan analyst Christopher Horvers upgraded the stock from ‘Underweight’ to ‘Overweight’ and raised the price target from $35 to $63.
5. Sumo Logic Inc SUMO: Shares of the company closed 28.68% higher on Monday. Reports indicated that multiple private equity firms have expressed interest in a potential acquisition. Firms including Thoma Bravo, Vista Equity Partners and Francisco Partners have approached Sumo Logic showing interest in a potential acquisition, according to a report by The Information.
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Flu, Covid-19 and RSV are all trending down for the first time in months
CNN
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A rough respiratory virus season in the US appears to be easing, as three major respiratory viruses that have battered the country for the past few months are finally all trending down at the same time.
A new dataset from the US Centers for Disease Control and Prevention shows that the number of emergency department visits for the three viruses combined – flu, Covid-19 and RSV – have dropped to the lowest they’ve been in three months. The decline is apparent across all age groups.
Measuring virus transmission levels can be challenging; health officials agree that Covid-19 cases are vastly undercounted, and surveillance systems used for flu and RSV capture a substantial, but incomplete picture.
But experts say that tracking emergency department visits can be a good indicator of how widespread – and severe – the respiratory virus season is.
“There’s the chief complaint. When you show up to the emergency room, you complain about something,” said Janet Hamilton, executive director at Council of State and Territorial Epidemiologists. “Being able to look at the proportion of individuals that seek care at an emergency department for these respiratory illness concerns is a really good measure of the respiratory disease season.”
In the week following Thanksgiving, emergency department visits for respiratory viruses topped 235,000 – matching rates from last January, according to the CDC data.
While the surge in emergency department visits early in the year was due almost entirely to Omicron, the most recent spike was much more varied. In the week ending December 3, about two-thirds of visits were for flu, about a quarter were for Covid-19 and about 10% were for RSV.
Grouping the impact of all respiratory viruses together in this way offers an important perspective.
“There’s a strong interest in thinking about respiratory diseases in a more holistic way,” Hamilton said. “Transmission is the same. And there are certain types of measures that are good protection against all respiratory diseases. So that could really help people understand that when we are in high circulation for respiratory diseases, there are steps that you can take – just in general.”
Now, Covid-19 again accounts for most emergency department visits but flu and RSV are still the reason behind about a third of visits – and they’re all trending down for the first time since the respiratory virus season started picking up in September.
More new data from the CDC shows that overall respiratory virus activity continues to decline across the country. Only four states, along with New York City and Washington, DC, had “high” levels of influenza-like illness. Nearly all states were in this category less than a month ago.
Whether that pattern will hold is still up in the air, as vaccination rates for flu and Covid-19 are lagging and respiratory viruses can be quite fickle. Also, while the level of respiratory virus activity is lower than it’s been, it’s still above baseline in most places and hospitals nationwide are still about 80% full.
RSV activity started to pick up in September, reaching a peak in mid-November when 5 out of every 100,000 people – and 13 times as many children younger than five – were hospitalized in a single week.
RSV particularly affects children, and sales for over-the-counter children’s pain- and fever-reducing medication were 65% higher in November than they were a year before, according to the Consumer Healthcare Products Association. While “the worst may be over,” demand is still elevated, CHPA spokesperson Logan Ramsey Tucker told CNN in an email – sales were up 30% year-over-year in December.
But this RSV season has been significantly more severe than recent years, according to CDC data. The weekly RSV hospitalization rate has dropped to about a fifth of what it was two months ago, but it is still higher than it’s been in previous seasons.
Flu activity ramped up earlier than typical, but seems to have already reached a peak. Flu hospitalizations – about 6,000 new admissions last week – have dropped to a quarter of what they were at their peak a month and a half ago, and CDC estimates for total illnesses, hospitalizations and deaths from flu so far this season have stayed within the bounds of what can be expected. It appears the US has avoided the post-holiday spike that some experts cautioned against, but the flu is notoriously unpredictable and it’s not uncommon to see a second bump later in season.
The Covid-19 spike has not been as pronounced as flu, but hospitalizations did surpass levels from the summer. However, the rise in hospitalizations that started in November has started to tick down in recent weeks and CDC data shows that the share of the population living in a county with a “high” Covid-19 community level has dropped from 22% to about 6% over the past two weeks.
Still, the XBB.1.5 variant – which has key mutations that experts believe may be helping it to be more infectious – continues to gain ground in the US, causing about half of all infections last week. Vaccination rates continue to lag, with just 15% of the eligible population getting their updated booster and nearly one in five people remain completely unvaccinated.
Ensemble forecasts published by the CDC are hazy, predicting a “stable or uncertain trend” in Covid-19 hospitalizations and deaths over the next month.
And three years after the first Covid-19 case was confirmed in the US, the virus has not settled into a predictable pattern, according to Dr. Maria Van Kerkhove, the World Health Organization’s technical lead for the Covid-19 response.
“We didn’t need to have this level of death and devastation, but we’re dealing with it, and we are doing our best to minimize the impact going forward,” Van Kerkhove told the Conversations on Healthcare podcast this week.
Van Kerkhove says she does believe 2023 could be the year in which Covid-19 would no longer be deemed a public health emergency in the US and across the world, but more work needs to be done in order to make that happen and transitioning to longer-term respiratory disease management of the outbreak will take more time.
“We’re just not utilizing [vaccines] most effectively around the world. I mean 30% of the world still has not received a single vaccine,” she said. “In every country in the world, including in the US, we’re missing key demographics.”
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NASA Turns “Light Echoes” From A Black Hole Into Sound
The mysteries of the black hole continue to baffle us despite extensive space exploration. In a new video, NASA made an attempt to explain the wonders of the frightening phenomenon. The “light echoes” from the black hole were converted into sound by the US Space agency on Friday.
The space agency took to Instagram to share the video. “Black holes are notorious for not letting light (such as radio, visible and X-rays) escape from them. However, surrounding material can produce intense bursts of electromagnetic radiation. As they travel outward, these busts of light can bounce off clouds of gas and dust in space, like how light beams from car’s headlight will scatter off of fog,” they wrote in the caption.
In the video, the red circular bands are surrounded by a starry background. Blue bands highlight the inner and lower portions of the black hole system. “During the sonification, the cursor moves outward from the center of the image in a circle. As it passes through the light echoes detected in X-rays (seen as concentric rings in blue by Chandra and red by Swift in the image), there are tick-like sounds and changes in volume to denote the detection of X-rays and the variations in brightness,” the caption further states.
Watch the video here:
According to NASA, the black hole in the video is about 7,800 light years away from Earth. The black hole has a mass between five and ten times that of the Sun, and it pulls material from a companion star in orbit around it, which is “funnelled into a disc that encircles the stellar-mass black hole,” according to the researchers. V404 Cygni is a system that contains a black hole. A new sonification converts the “light echoes” from the V404 Cygni black hole into sound.
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“NASA’s Chandra X-ray Observatory and Neil Gehrels Swift Observatory have imaged the X-ray light echoes around V404 Cygni,” the space agency further said. Astronomers can calculate when these eruptions occurred because they know how fast light travels and have determined an accurate distance to this system. This data, along with other information, assists astronomers in learning more about dust clouds, such as their composition and distances.
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