What we’re reading (2/24)
“150 Business Leaders, Including Google’s Sundar Pichai And Longtime Trump Ally Stephen Schwarzman, Are Backing Biden’s $1.9 Trillion Stimulus Bill In A Letter To Congress” (Business Insider). “More than 150 executives from top US companies spanning a range of industries including finance, tech, and real estate have backed President Joe Biden's $1.9 trillion stimulus package in a letter that will be sent to Congress, CNN reported Wednesday.”
“Lowe’s Tops Earnings Estimates As Same-Store Sales Jump 28%, Warns That Some DIY Trends Could Fade” (CNBC). “Lowe’s said Wednesday its fourth-quarter same-store sales climbed 28.1%, as consumers spent more on home projects during the pandemic. That’s higher than the 22% growth that analysts expected, according to StreetAccount. Even with the strong results, Lowe’s continues to expect that sales could moderate as the pandemic eases.”
“J&J’s Covid-19 Vaccine Is Safe And Effective, FDA Says, Paving Way For Approval” (Wall Street Journal). “The U.S. Food and Drug Administration found that a Johnson & Johnson Covid-19 single-dose vaccine was 66.1% effective in preventing moderate to severe virus disease, and that it had a ‘favorable safety profile.’”
“Investors Are Betting On A Macy’s Revival. Should They Be?” (CNN Business). “Retailers have been battered by the pandemic, which triggered a plunge in foot traffic and caused demand for products like work clothing to all but evaporate. But stock in Macy's is now trading close to where it was before Covid-19 rattled markets, while Kohl's has recovered all its losses. That raises the question: Are these stores on the brink of a comeback, or have investors gotten ahead of themselves? There are clear signs that the outlook for retailers is starting to brighten.”
“Future Vaccines Depend on Test Subjects in Short Supply: Monkeys” (New York Times). “Mark Lewis was desperate to find monkeys. Millions of human lives, all over the world, were at stake. Mr. Lewis, the chief executive of Bioqual, was responsible for providing lab monkeys to pharmaceutical companies like Moderna and Johnson & Johnson, which needed the animals to develop their Covid-19 vaccines. But as the coronavirus swept across the United States last year, there were few of the specially bred monkeys to be found anywhere in the world.”
