Raphael Stevens

The CDC is recommending that people who have had confirmed or presumed monkeypox exposures get vaccinated against the virus.
Vaccination should occur within two weeks of exposure to the virus, but the sooner the better, according to the CDC.
The U.S. is immediately releasing 56,000 doses of the Jynneos vaccine from the strategic national stockpile, which will be followed by 240,000 doses in the coming weeks.

Mock-up vials labeled “Monkeypox vaccine” are seen in this illustration taken, May 25, 2022. 
Dado Ruvic | Reuters

The U.S. will deploy nearly 300,000 monekypox vaccine doses in the coming weeks in an effort to stamp out the growing outbreak of the virus.
The Centers for Disease Control and Prevention is recommending that people who have had confirmed or presumed monkeypox exposures get vaccinated against the virus. Vaccination should occur within two weeks of exposure to the virus, but the sooner the better, according to the CDC.

The U.S. is immediately releasing 56,000 doses of the Jynneos vaccine from the strategic national stockpile, which will be followed by 240,000 doses in the coming weeks. A total of 1.6 million doses of Jynneos will be available in the fall, according to the Health and Human Services Department.
Jynneos is a two-dose vaccine approved by the Food and Drug Administration for adults ages 18 and older who are at high risk of exposure to smallpox or monkeypox. HHS is prioritizing allocation of Jynneos doses to communities with the highest number of monkeypox cases because supply is still limited.
Local health departments can also request shipments of the older generation smallpox vaccine ACAM2000, which the U.S. has in much greater supply. However, the vaccine can have serious side effects and is not recommended for everyone.
The U.S. has confirmed 306 monkeypox cases across 27 states and Washington, D.C., according to the CDC. The largest outbreaks are in California, Illinois and New York with dozens of confirmed infections in each of those states.
There have been no reported deaths in the U.S. from the virus. Most people recover from monkeypox in two to four weeks.

Worldwide, more than 4,700 cases of monkeypox have been reported across 49 countries with one death reported in Nigeria. The current outbreak is unusual because it is occurring primarily in North American and European countries. Historically, the virus has mostly transmitted at low levels in remote areas of West and Central Africa. European nations have reported 84% of the confirmed monkeypox cases in the current outbreak.
The World Health Organization said on Saturday that the outbreak does not represent a global health emergency right now. However, WHO Director General Tedros Adhanom Ghebreyesus said the virus represents an evolving threat that needs close monitoring.
Monkeypox primarily spreads through close physical contact with sex a major source of transmission in the current outbreak. People can also catch the virus from contaminated materials such as bedsheets or shared clothing. The virus can spread through respiratory droplets but not easily. Respiratory transmission requires prolonged face-to-face interaction, according to the CDC.
Gay and bisexual men who have had sex with multiple partners are at particularly high risk of infection right now, according to the CDC. However, public health officials have repeatedly emphasized that anyone can catch the virus regardless of sexual orientation.
Monkeypox often begins with symptoms similar to the flu such as fever, headache, body aches, chills, exhaustion and swollen lymph nodes. A rash that looks like pimples or blisters then appears on the body. People are most infectious when they have the rash.
Some patients in the current outbreak have developed a rash only on the genitals or anus before showing any flulike symptoms, according to the CDC. In other cases, patients developed the rash without any flulike symptoms at all.

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Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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AT&T Inc: “That is a distinct hold. If it were $18, it’s a buy. If it was $23, it’s a sell.”

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Tilray Brands Inc: “Tilray is a total spec of which I’m not going to bet against right now.”

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Dow Inc: “If I wanted to buy 200 shares, I’d buy 100 here and then I’d wait until $45.”

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Simulations Plus Inc: “They actually make money. … But it’s much too rich a stock for my taste, and I can’t there recommend it.”

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C3.ai Inc: “That’s been one of the worst stocks in the market, and yet [CEO Tom Siebel], who started it, is one of the best. So, let’s get Tom on the show.”

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Rio Tinto PLC: “People think that we’re going into a recession, and you’re supposed to sell Rio Tinto in a recession. I, on the other hand, want to … buy Rio Tinto right here.”

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Monday – Friday, 6:00 – 7:00 PM ET

Cloud computing is in its beginning stages and will only continue to grow, Amazon Web Services CEO Adam Selipsky told CNBC’s Jim Cramer on Tuesday.
“Essentially, IT is going to move to the cloud. And it’s going to take a while. You’ve seen maybe only, call it 10% of IT today move. So it’s still day 1. It’s still early. … Most of it’s still yet to come,” he said.

Cloud computing is in its beginning stages and will only continue to grow, Amazon Web Services CEO Adam Selipsky told CNBC’s Jim Cramer on Tuesday.
“It’s possible that AWS could become the largest business at Amazon. Now, Amazon has other large and great businesses, and so it could take a while for us to get there,” Selipsky said in an interview on “Mad Money.”

“Essentially, IT is going to move to the cloud. And it’s going to take a while. You’ve seen maybe only, call it 10% of IT today move. So it’s still day 1. It’s still early. … Most of it’s still yet to come,” he added.
The cloud business’ revenue in the first quarter beat the consensus among analysts polled by StreetAccount, accounting for roughly 16% of Amazon’s total revenue. AWS grew faster from the same period a year before than analysts expected.
AWS was launched in 2006, before competitors Microsoft’s Azure or Alphabet’s Google Cloud Platform, and has notable collaborations with Goldman Sachs, Stellantis and Best Buy.
Selipsky said that despite the heightened competition in the industry and the threat of a recession, AWS is continuing to do well.
“Demand continues to be strong, with lots of new customers signing up and existing customers expanding,” he said.

Disclosure: Cramer’s Charitable Trust owns shares of Alphabet, Amazon and Microsoft.
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Omicron is continuing to evolve into more contagious subvariants.
Dr. Peter Marks, who heads the FDA’s vaccine division, said the U.S. faces a Covid outbreak this fall as immunity from the vaccines wanes and people spend more time indoors.
Updating the shots to target omicron could provide more durable protection against the virus, though current supporting data is limited.

The Food and Drug Administration’s panel of independent vaccine experts on Tuesday voted 19 to 2 to recommend new Covid-19 shots that target the omicron variant this fall, when public health officials are expecting a new wave of infections.
It is the first time the panel has proposed that vaccine makers modify the shots to target a different variant. The FDA will likely accept the committee’s recommendation and authorize a vaccine change. However, the panel did not make a recommendation on which omicron subvariant the shots should target.

Pfizer, Moderna, Novavax and Johnson & Johnson all developed their vaccines against the original Covid strain that first emerged in Wuhan, China, in 2019. But as the virus has rapidly evolved over the course of the pandemic, the vaccines have become less effective at protecting against infection and mild illness, though they are still generally protecting against severe disease.

A healthcare worker prepares a syringe with the Moderna COVID-19 vaccine at a pop-up vaccination site operated by SOMOS Community Care during the COVID-19 pandemic in Manhattan in New York City, January 29, 2021.
Mike Segar | Reuters

The vaccines target the spike protein the virus uses to invade human cells. However, the shots have trouble recognizing and attacking the spike the more it mutates away from the original version of the virus. The omicron variant is the most dramatic example yet with more than 30 mutations. That is one of the central reasons why omicron caused such a massive wave of infections last winter despite the fact that masses of people were fully vaccinated.

Fall booster campaign

Omicron continues to mutate into more contagious subvariants. Dr. Peter Marks, who heads the FDA’s vaccine division, said the U.S. faces a Covid outbreak this fall and winter as the virus evolves, vaccine immunity wanes and people spend more time indoors where Covid can spread much easier than outdoors.
“For that reason, we have to give serious consideration to a booster campaign this fall to help protect us,” Marks told the committee. “The better the match of the vaccine to the circulating strain, we believe may correspond to improved vaccine effectiveness and potentially to a better durability of protection.”
Justin Lessler, an epidemiologist at University of North Carolina Chapel Hill, said 95,000 additional people could die in the U.S. from Covid by March 2023 in the most optimistic projections from a team of scientists who are developing models of the pandemic’s trajectory. In the most pessimistic scenario, 211,000 people could perish from the virus by March of next year, he said. However, Lessler cautioned that there is a lot of uncertainty in those projections.

Three doses from the current vaccines are just 19% effective at preventing infection from omicron among adults ages 18 and older 150 days or more after administration, according to data presented by the Centers for Disease Control and Prevention. This low protection against infection is likely due to omicron evolving into the more contagious BA.2 and BA.2.12.1 subvariants, CDC official Dr. Ruth Link-Gelles said. A third dose was 55% effective at preventing hospitalization from these subvariants among adults 120 days or more after receiving the shot, according to the data.

Limited data, limited time

The virus is evolving so quickly that the vaccine companies are struggling to keep up. Pfizer and Moderna developed their omicron shots against the original version of the variant, BA.1. However, BA.1 is no longer circulating in the U.S. A more contagious omicron subvariant, BA.2, became dominant over the spring. The omicron subvariants BA.4 and BA.5 are now rapidly gaining ground in the U.S. and are poised to become dominant, Marks said.
Pfizer and Moderna presented data, based on small studies of several hundred people, showing their omicron shots significantly boosted the immune response against omicron BA.1 compared to the original shots that targeted the virus strain that emerged in China. However, the updated shots did not perform as well against BA.4 and BA.5, though the immune response was still strong. There is no available data on the real world effectiveness of the updated shots, though the strength of the immune response is generally viewed as an indication of how much protection the shots will provide against illness. 
But Dr. Paul Offit, a committee member, said it’s unclear whether the immune response data will translate into significant protection.
“I just think we need a higher standard for protection and than what we’re being given — I think it’s uncomfortably scant,” said Offit, an infectious disease expert at Children’s Hospital Philadelphia, about the data presented at the meeting.   
The FDA panel members seemed to agree that it would be better to target omicron BA.4 or BA.5. But this could create logistical challenges for the vaccine companies because they have been focused on BA.1. The manufacturing process for a different subvariant would take about three months.
Panel member Dr. Mark Sawyer said the FDA risked falling even further behind the evolution of the virus if it did not act soon.
“Given that state of evolution, we are going to be behind the eight ball if we wait longer,” said Sawyer, a professor of pediatrics University of California San Diego.
Novavax presented data showing a booster dose of its current vaccine, which targets the original virus strain, produced a strong immune response against the omicron subvariants. Dr. James Hildreth, a temporary committee member, said he was most impressed by Novavax’s data and encouraged the FDA to quickly authorize the shot for use in the U.S. However, FDA official Jerry Weir said the Novavax data hasn’t been independently verified by the agency.
Panel member Dr. Cody Meissner said he was worried there isn’t enough safety data on how changing the vaccines’ composition might impact heart inflammation, or myocarditis, as a side effect. Pfizer and Moderna’s current shots have been associated with an elevated risk of myocarditis in adolescent boys.
“We need more study or research into what is the association with vaccines and myocarditis,” Meissner said.
Marks said it’s crucial to make a decision soon on whether to update the vaccines, so the manufacturers have time to produce the shots in time for the fall. However, Congress has not appropriated money for the U.S. to buy additional vaccines. The White House has warned that without more funding, the U.S. might have to ration shots in the fall for people at highest risk such as the elderly.
Dr. Ashish Jha, who coordinates the U.S. Covid response, has said other countries have already entered negotiations with the vaccine makers for updated shots. The White House has carved out $5 billion in funding to get talks with companies started as the administration waits on more money from Congress. The $5 billion the White House is using for vaccines was originally intended for Covid tests and protective equipment, which means there is now less money for those other crucial tools to fight the pandemic.

CNBC Health & Science

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

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Target will cover employees’ travel if they live in a state where abortion is banned, according to a company memo obtained by CNBC.
The policy change will take effect in July.
The big-box retailer joins a growing list of companies that have announced policy changes after the reversal of Roe v. Wade.

A person walks into a Target store in Washington, DC, on May 18, 2022.
Stefani Reynolds | AFP | Getty Images

Target will cover employees’ travel if they live in a state where abortion is banned, according to a company memo obtained by CNBC.
The new policy will take effect in July, according to the email, which was sent to employees Monday from Target’s Chief Human Resources Officer Melissa Kremer.

“For years, our healthcare benefits have included some financial support for travel, when team members needed select healthcare procedures that weren’t available where they live,” Kremer said in the memo. “A few months ago, we started re-evaluating our benefits with the goal of understanding what it would look like if we broadened the travel reimbursement to any care that’s needed and covered – but not available in the team member’s community. This effort became even more relevant as we learned about the Supreme Court’s ruling on abortion, given that it would impact access to healthcare in some states.”

With the reversal of Roe v. Wade, the country has been divided into states where abortion is legal and states where it is outlawed. The court decision has led to a wave of announcements by companies that have committed to providing travel coverage for employees as part of their health insurance plans. That list cuts across industries and includes JPMorgan Chase, Dick’s Sporting Goods and Rivian.
Some companies, like Amazon, already announced travel coverage for employees who need to seek reproductive healthcare in other states before the Supreme Court decision. The tech giant said it will pay up to $4,000 in travel expenses annually for abortion and other non-life threatening medical treatments.
Target did not immediately respond to a request about whether the travel policy will come with a dollar limit. It did not say how it plans to protect the privacy of employees who seek travel reimbursement.
In the memo, the retailer said its health care travel reimbursement policy will include travel for mental health, cardiac care and other services that aren’t available close to employees’ homes, in addition to reproductive care.

Kremer said Target updated its policy to “ensure our team has equal access to high-quality, low-cost care through our healthcare benefits.”
In the memo, Target did not take a position on the Supreme Court decision. Kremer praised Target’s employees for how they “recognize and respect a wide spectrum of beliefs and opinions that other team members and guests hold close – even if those beliefs differ from their own.”
Others companies have stayed silent in the wake of the Supreme Court decision. Walmart, the largest private employer in the U.S., declined to say if or how it will allow employees to access abortions in states where they are illegal. Its headquarters is in Arkansas, a state that already has a law on the books to trigger a ban.
Walmart, however, does cover travel costs for some medical care — including certain heart surgeries, cancer treatments and organ transplants — that employees get at hospitals in other states or cities far from home.
The top court’s decision has prompted outrage from some employees who have pushed their companies to go further. Hundreds of Amazon employees have signed an internal petition, calling on the company to condemn Supreme Court’s decision, cease operations in states with abortion bans and allow workers to move to other states if they live in a place where the procedure is restricted, according to Business Insider.
CNBC’s John Rosevear contributed to this article.

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Disney has extended CEO Bob Chapek’s contract for three more years, the company announced Tuesday.
Chapek’s contract was set to expire in February 2023, three years after he unexpectedly took the reins from Bob Iger.

Disney has extended CEO Bob Chapek’s contract for three years, the company announced Tuesday.
Chapek’s contract was set to expire in February next year, three years after he unexpectedly took the reins from Bob Iger. The board, which met Tuesday in Florida, voted unanimously to extend Chapek’s tenure to July 2025.

“Disney was dealt a tough hand by the pandemic, yet with Bob at the helm, our businesses — from parks to streaming — not only weathered the storm, but emerged in a position of strength,” said Susan Arnold, chairman of the board, in a statement Tuesday.
She added: “In this important time of growth and transformation, the Board is committed to keeping Disney on the successful path it is on today, and Bob’s leadership is key to achieving that goal. Bob is the right leader at the right time for The Walt Disney Company, and the Board has full confidence in him and his leadership team.”

Bob Chapek, Disney
Jeff Gritchen | MediaNews Group | Orange County Register via Getty Images

Chapek has experienced his share of difficulties during his so-far brief tenure. Disney’s stock, which was unchanged in after-hours trading, is down about 38% this year as of Tuesday’s close.
Chapek was also at the center of a dispute between Disney and Florida Gov. Ron DeSantis over comments made about the state’s HB 1557 law, dubbed the “Don’t Say Gay” bill. The feud led DeSantis to rally Republican legislators to repeal Disney’s Reedy Creek special district, which it has held for decades.
Earlier this month, Chapek made headlines for firing Peter Rice, Disney’s most senior television content executive. The board said at the time that Chapek had its full support.

The timing of Disney’s transition from Iger to Chapek came just weeks before the coronavirus pandemic forced different facets of the entertainment industry to shutter, including movie theaters and theme parks.
Without revenue from these divisions, Chapek rallied around the company’s fledgling streaming service Disney+. Success of shows like “The Mandalorian” had made the platform popular with consumers, and Chapek held fast to the company’s goal of reaching 230 million to 260 million Disney+ subscribers by 2024.
As of the end of Disney’s fiscal second quarter, the service had more than 137.7 million subscribers.
Chapek, 63, has worked for the Walt Disney Company for nearly 30 years and is its seventh CEO. Previously, he was the chairman of Disney’s parks, experiences and products division.
CNBC’s Alex Sherman contributed to this report.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer recommended four stocks investors should consider adding to their portfolios after ugly days in the market like Tuesday.
“As long as commodity prices keep coming down, these stocks should be winners, which is why you’ve got to treat ugly moments like this one as buying opportunities,” the “Mad Money” host said.

CNBC’s Jim Cramer recommended four stocks investors should consider adding to portfolios after ugly days in the market like Tuesday.
“While this may be a bear market, as long as commodity prices keep coming down, these stocks should be winners, which is why you’ve got to treat ugly moments like this one as buying opportunities,” the “Mad Money” host said.

“Not for everything — not even close — but for select few stocks that truly have something good going on,” he added.
All three major indices fell on Tuesday, with the Dow Jones Industrial Average dropping 1.56%, the S&P 500 falling 2% and the Nasdaq Composite declining nearly 3%.
Cramer reminded investors that down days in the market can be great opportunities to buy, though they should still be selective about what names they pick up.
“Now, these may not necessarily pan out, especially in the short-term, but that’s why you don’t buy stocks all at once. You leg into them gradually. … Buy some now. Buy some later if they keep going down,” he said.
Here are his four recommendations:

Morgan Stanley
Disney
Johnson & Johnson
Starbucks 

“With each of these names, you have good news in your pocket. You have fresh information. It’s unlikely that you’re going to get any negative earnings preannouncements from any of these companies. That’s what makes these stocks buyable after an ugly day like this one,” he said.
Disclosure: Cramer’s Charitable Trust owns shares of Morgan Stanley, Disney and Johnson & Johnson.

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