Business and Finance News - 7.3.24

U.S. Awards Moderna $176M for Bird Flu Vaccine; H5N1 Outbreak in Dairy Cows and Workers Raises Concerns

• The U.S. awarded Moderna $176 million for bird flu vaccine development.

• Concerns rise over H5N1 bird flu outbreak in dairy cows and workers.

• Late-stage testing of the vaccine is set to begin in 2025.

• The contract allows acceleration if human cases or transmission increase.

• First H5N1 outbreak in dairy cattle reported in March, spreading to 12 states.

• Discussions on vaccinating farm workers are ongoing but no decisions made.

• Moderna and Pfizer's vaccines use mRNA technology, effective in COVID-19.

*Moderna (MRNA) - Moderna, Inc. is a biotechnology company that focuses on developing and commercializing messenger RNA (mRNA) therapeutics and vaccines.

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EverPass Media Acquires UPshow to Stream Live Sports in Bars; TKO Invests, New “Sunday Ticket” Streaming Option This NFL Season

• EverPass Media will stream live sports at bars and restaurants via the acquired UPshow platform.

• “Sunday Ticket” previously required DirecTV satellite service for commercial establishments.

• TKO, formed from WWE and UFC merger, is a new investor in EverPass Media.

• EverPass signed a nonexclusive deal with DirecTV to continue “Sunday Ticket” distribution.

• New streaming option for “Sunday Ticket” games starts this NFL season.

• More live sports are moving to exclusive streaming, challenging traditional pay TV packages.

• EverPass aims to distribute additional content and explore global distribution opportunities.

*EverPass Media - EverPass Media is a company that focuses on delivering premium live sports and entertainment content. It aims to enhance the distribution of live sports events to various platforms and audiences.

*TKO (TKO) - TKO Group Holdings, Inc., often referred to as TKO, is a media and entertainment company specializing in combat sports and related entertainment.

Barry Diller Considers Paramount Global Takeover, Signs NDA with National Amusement

• Barry Diller is considering a takeover offer for Paramount Global.

• Diller signed a nondisclosure agreement with Paramount's control shareholder, National Amusements.

• Diller led Paramount Pictures in the 1970s and 1980s.

• Shari Redstone's father outbid Diller for Paramount in 1994.

• Diller formed a media conglomerate known for buying and spinning off properties.

• It's unclear if Diller wants to buy Paramount or just control National Amusements.

• Shari Redstone recently abandoned a proposed deal with Skydance Media.

*Paramount (PARA) - Paramount Global is a multinational media and entertainment conglomerate. It operates a broad portfolio of media and entertainment assets, including television networks, film production, streaming services, and content licensing.

Robinhood Eyes Crypto Futures in U.S. and Europe, Awaits Bitstamp Deal Amid Regulatory Challenges and Wells Notice

• Robinhood is considering offering cryptocurrency futures in the U.S. and Europe.

• The company hopes to use Bitstamp's licenses for this offering.

• Robinhood agreed to buy Bitstamp in a $200 million deal, closing next year.

• Plans include launching CME-based futures for Bitcoin and Ether in the U.S.

• Robinhood stated there are no imminent plans to launch these offerings.

• The crypto business is growing rapidly but faces U.S. regulatory hurdles.

• Robinhood received a Wells notice from the U.S. securities regulator over tokens traded.

*Robinhood (HOOD) - Robinhood is a financial services company that offers a range of investment and trading products primarily through its mobile app and website.

Tesla Produces 410,831 Vehicles, Delivers 443,956 in Q2 2024; Shares Jump 9% Despite 4.8% Yearly Decline

• Tesla produced 410,831 vehicles and delivered 443,956 in Q2 2024.

• Deliveries beat Wall Street estimates but were down 4.8% from a year earlier.

• Tesla shares jumped over 9% after posting stronger-than-expected delivery numbers.

• Tesla's Q2 deliveries rose 14.8% from the first quarter.

• First-quarter deliveries dropped 8.5%, the first annual decline since 2020.

• Sluggish sales partly due to temporary factory shutdowns and shipping delays.

• Tesla offered discounts and incentives to spur sales amid increased competition.

*Tesla (TSLA) - Tesla, Inc. is an American electric vehicle (EV) and clean energy company.

Here’s how the markets closed yesterday:

• Dow Jones: 39,331.85 +162.33 (+0.41%)

• S&P 500: 5,509.01 +33.92 (+0.62%)

• Nasdaq: 18,028.76 +149.46 (+0.84%)

• Bitcoin (BTC): $61,983.60 (4:00PM PST on 7/2/24)

• Ethereum (ETH): $3,417.19 (4:00PM PST on 7/2/24)

Here’s how the THE SUPER SIX STOCKS did yesterday:

• Microsoft (3.414T): 459.28 +2.55 (+0.56%)

• Apple (3.378T): 220.27 +3.52 (+1.62%)

• Nvidia (3.023T): 122.67 -1.63 (-1.31%)

• Alphabet (2.306T): 186.61 +2.12 (+1.15%)

• Amazon (2.081T): 200.00 +2.80 (+1.42%)

• Meta Platforms (1.292T): 509.50 +4.82 (+0.96%)