J&J gets a boost from a possible covid-19 vaccine

J&J gets a boost from a possible covid-19 vaccine
SEAT is collaborating with the healthcare system by making automated ventilators with adapted windscreen wiper motors

In an intra date note to investors Gorilla Trades strategist Ken Berman, while commenting on Johnson & Johnson’s earnings and the production of a future COVID-19 vaccine, said:

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Q1 2020 hedge fund letters, conferences and more

The major indices are all significantly higher at midday following a very active morning session on Wall Street. Yesterday’s trends continued in early trading, with the tech sector showing relative strength and cyclical issues lagging behind the broader market, despite the continued decline in the number of new COVID-cases in the U.S. More and more European countries are preparing to ease their lockdown rules as the number of new cases continues to drop in the previous epicenters of the pandemic as well, but bank stocks remained under pressure today, ‘infecting’ the U.S. financial sector too.

Marathon Partners: There Is A “Compelling Opportunity” In US Cannabis

investMarathon Partners Equity Management, the equity long/short hedge fund founded in 1997, added 8.03% in the second quarter of 2021. Q2 2021 hedge fund letters, conferences and more According to a copy of the hedge fund's second-quarter investor update, which ValueWalk has been able to review, the firm returned 3.24% net in April, 0.12% in Read More

J&J Earnings And A Possible COVID-19 Vaccine Helps Boost The Stock

The earnings season kicked off today with JP Morgan (JPM, -4.4%) and Wells Fargo (WFC, -5.4%) reporting in pre-market trading. While both firms reported slightly better-than-expected numbers, their stocks are trading deep in the green due to mounting economic fears and the solvency issues in the most-affected sectors. Johnson & Johnson (JNJ, +4.9) surged to its highest level in six weeks in the wake of its report, as investors hailed the company’s better-than-expected earnings and its possible involvement in the production of a future COVID-19 vaccine.

Market Wrap

Market breadth was very strong just after the opening bell, but some of the key measures deteriorated later on, due to weakness among small caps, with advancing issues still outnumbering decliners by a 6-to-1 ratio on the NYSE. Only 3 stocks hit new 52-week lows on the NYSE and the Nasdaq, while 29 stocks hit new 52-week highs. The major indices dipped below their VWAPs (Volume-Weighted Average Price) following a positive start to the session, warning of a possible intraday reversal. Cyclical issues and small-caps have been weak this morning, and the financial sector’s troubles, in particular, warrant caution from a short-term perspective. Stay tuned!

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