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    Jim Cramer’s 2022 forecast for the best-performing Dow stocks last year

    Monday – Friday, 6:00 – 7:00 PM ET

    CNBC’s Jim Cramer on Wednesday announced his 2022 outlook for the best-performing stocks in the Dow Jones Industrial Average last year.
    The “Mad Money” host said he expects UnitedHealth, McDonald’s and Walgreens to help power the Dow higher in 2022.

    CNBC’s Jim Cramer on Wednesday announced his 2022 outlook for the best-performing stocks in the Dow Jones Industrial Average last year.
    Prior to examining the blue-chip index, the “Mad Money” host offered his forecasts for top performers in the S&P 500 and Nasdaq 100 earlier in the week.

    “Of all the stocks I’ve covered so far this week, [the Dow winners] is the group that I think has the best chance of repeating its unbelievable performance even with the Fed being your foe, and it will be led by UnitedHealth, McDonald’s and Walgreens,” Cramer said.

    Home Depot

    Cramer said he believes Home Depot’s 56% gain last year was fueled, in part, by investor optimism on the strength of the U.S. housing market. “The safest way to play housing isn’t with a homebuilder, it’s with a retailer that caters to both new building and renovation,” Cramer said.
    The Federal Reserve’s benchmark interest rate can impact mortgage rates and, by extension, the housing market overall, Cramer said. “The slower the Fed tightens going forward, the more likely Home Depot will have another good year.”

    Microsoft

    Dado Ruvic | Reuters

    Microsoft is “firing on all cylinders,” Cramer said, highlighting strong performance in its cloud unit, PC business and gaming that helped shares rise 51% in 2021. While the stock is no longer cheap, Cramer said he expects the tech giant to keep executing in 2022.
    “Microsoft has become the biggest momentum stock in the world and I bet it will stay that way because it’s got a habit of crushing the estimates,” he said.

    Goldman Sachs

    Even though Goldman Sachs shares jumped 45% in 2021, Cramer said the stock is still on a price-to-earnings basis.
    “In short, while this is a very good brokerage and advisory firm, it gets no respect because people can’t figure out why it doesn’t do something more growth-oriented with its capital,” Cramer said. “Management would tell you that it’s got plenty of growth, but no growth stock sells for less than 10 times earnings.”

    UnitedHealth Group

    Out of all the stocks highlighted in this list, Cramer said UnitedHealth Group is the one he believes is most likely to repeat its strong 2021 performance this year.
    “Every time I see the stock rally, I get a little upset that we don’t own it for the charitable trust, but we’re just waiting for a dip. Unfortunately, UNH rarely gives you one, so maybe this is the year we just swallow our discipline and start buying,” Cramer said.

    Cisco

    Cisco shares advanced 41% in 2021, but Cramer said he still believes the computer networking company is a buy. He cited strong management and Cisco’s solidifying position in the world of data centers and service providers.
    “Its order growth is the best I’ve seen in ages, and orders are the best predictor of earnings in the business,” he said.

    Chevron

    Michael Wirth, CEO of Chevron.
    Adam Jeffery | CNBC

    American Express

    “I like the fact that there’s tremendous travel demand … and is going to get better once [the Covid omicron variant] burns itself through because people want to go somewhere. If you think this decade will be the ‘Roaring 20s’ revisited, then American Express fits that theme perfectly,” Cramer said.

    Apple

    Cramer stressed his oft-repeated view that investors should own Apple shares for the long-term, instead of trading in and out of the iPhone maker’s stock, which advanced nearly 34% last year.

    Walgreens Boots Alliance

    Walgreens is in a position to have another good year after advancing 30% in 2021, Cramer said. CEO Rosalind Brewer, who took over last year, has upgraded the company’s management, he said, and the Covid pandemic provided the drugstore chain with some tailwinds.

    McDonald’s

    Cramer said he believes McDonald’s can replicate its 24% gain in 2021 again this year. “Although I like Chipotle more … McDonald’s is the more defensible and defensive name because it can triumph worldwide over any competitor,” Cramer said.
    His advice to investors is to “hold your nose and do some buying, even as it’s already run” because the stock rarely has substantial pullbacks.
    Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

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    Fauci says multiple preliminary studies find omicron is less severe than delta

    White House chief medical advisor Dr. Anthony Fauci said preliminary data indicates omicron is less severe than delta.
    Animal studies indicate that lung infection from omicron isn’t as severe, Fauci said.
    However, he cautioned against complacency, warning omicron is spreading so quickly it could still strain hospitals.

    NIH National Institute of Allergy and Infectious Diseases Director Anthony Fauci addresses the daily press briefing at the White House in Washington, January 21, 2021.
    Jonathan Ernst | Reuters

    White House chief medical advisor Dr. Anthony Fauci on Wednesday said a growing body of data indicates that the Covid omicron variant is less severe than the delta strain, but cautioned that hospitals could still face stress through the unprecedented number of new infections sweeping across the U.S.
    “Multiple sources of now-preliminary data indicate a decrease severity with omicron,” Fauci told the public during a Covid update from the White House response team. “However, we really do need more definitive assessment of severity with longer-term follow up here and in different countries.”

    Fauci cited a study from Ontario, Canada, that found the risk of hospitalization or death was 65% lower among people infected with omicron compared with individuals who caught delta. The risk of admission to an intensive care unit or death from omicron was 83% lower, according to the study.

    Fauci also pointed to a study from South Africa that found about 5% of infections during the omicron wave resulted in hospital admission, compared with 14% during delta. Patients admitted to the hospital during the omicron wave were 73% less likely to have severe disease compared with the delta wave, according to the data.

    CNBC Health & Science

    Fauci said the lung infection from omicron appears less severe than previous variants, citing recent animal studies of mice and hamsters.
    “It was shown that the virus of omicron proliferates very well in the upper airway and bronchi, but actually very poorly in the lungs,” Fauci said. While this does not definitively prove omicron is more mild, it is consistent with the variant transmitting very quickly but causing less severe lung infections,” he said.

    Fauci said the omicron variant also appears less severe for children when compared with delta. However, he cautioned that hospitalizations are rising among kids, mostly the unvaccinated, because omicron is so contagious. He urged parents of children ages 5 to 17 make sure their kids are immunized against Covid.

    Fauci warned that even if omicron proves less severe, the variant is spreading so quickly that it could still produce a large number of patients who do require hospital care, straining the nation’s health-care system.
    The U.S. reported more than 869,000 new Covid infections on Tuesday, according to data compiled by Johns Hopkins University. The nation is reporting a seven-day average of more than 553,000 new infections every day, more than double the previous week and a pandemic record, according to a CNBC analysis of data from Johns Hopkins.
    “A certain proportion of a large volume of cases no matter what are going to be severe,” Fauci said. “So don’t take this as a signal that we can pull back from the recommendations.”
    About 110,000 Americans are hospitalized with Covid, according to a seven-day average of data from the Department of Health and Human Services as of Wednesday, up 39% over the past week. Though rising sharply, that figure is still below peak levels seen during last winter’s surge, when hospitalizations topped 137,000 in early January 2021.
    Fauci cautioned against complacency, urging the public to follow public health guidance by getting vaccinated, boosted and wearing a mask.

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    California finds PG&E equipment responsible for massive Dixie Fire

    Pacific Gas & Electric transmission lines ignited the Dixie Fire in Northern California, which burned nearly 1 million acres and destroyed more than 1,300 homes last summer, according to a new state investigation.
    State investigators said a “meticulous and thorough investigation” determined the Dixie Fire was sparked by a tree that fell on electrical distribution lines owned and operated by PG&E.
    Butte County District Attorney Mike Ramsey told CNBC on Wednesday that the office has not yet determined whether it will being criminal charges against the utility.

    Cal Fire firefighters try to contain the fire from spotting across Highway 395 during the Dixie Fire on August 17, 2021 near Milford, California.
    Patrick T. Fallon | AFP | Getty Images

    Pacific Gas & Electric transmission lines ignited the Dixie Fire in Northern California, which burned nearly 1 million acres and destroyed more than 1,300 homes last summer, according to a new state investigation.
    The California Department of Forestry and Fire Protection, or Cal Fire, said on Tuesday that its “meticulous and thorough investigation” determined the Dixie Fire was sparked by a tree that fell on electrical distribution lines owned and operated by PG&E. The tree was located west of a dam in Plumas County.

    State fire officials said the report has been forwarded to the district attorney’s office in Butte County, where the fire started. Butte County District Attorney Mike Ramsey told CNBC on Wednesday that a broader investigation is ongoing and the office has not yet determined whether it will being criminal charges against the utility.
    “We’re gathering the evidence that Cal Fire, as a partner in this investigation, has provided,” Ramsey said. “We expect it to be some weeks yet before we come to a decision.”
    Fire officials also warned state residents to “remain vigilant and be prepared for wildfire.” California and other western states are experiencing longer and more severe wildfire seasons and drought conditions as the climate changes.
    The Dixie Fire was the second largest fire in California’s history, following the August Complex, which burned more than 1 million acres last year. The Dixie Fire scorched across Butte, Plumas, Lassen, Shasta and Tehama counties and forced thousands of people to evacuate their homes before it was extinguished in October. It was also responsible for one death. 
    PG&E equipment has been blamed for several of California’s wildfires in recent years. The utility pleaded guilty in 2019 to 84 counts of involuntary manslaughter in the 2018 Camp Fire, the state’s deadliest wildfire, admitting its electrical grid caused the fire. It also faces civil and criminal actions from other blazes.

    “This tree was one of more than 8 million trees within strike distance to PG&E lines,” PG&E said in a statement. “Regardless of today’s finding, we will continue to be tenacious in our efforts to stop fire ignitions from our equipment and to ensure that everyone and everything is always safe.”
    PG&E earlier this year announced plans to bury 10,000 miles of power lines starting in the highest fire threat districts as an effort to keep its equipment from igniting blazes in California. The company has previously shut off power for thousands of customers amid extreme heat and wind conditions that increase fire risk.

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    CDC panel recommends Pfizer boosters for 12- to 15-year-olds amid omicron surge

    An independent panel at the Centers for Disease Control and Prevention backed Pfizer boosters for kids 12 to 15 years of age.
    If the CDC director signs off on the committee’s decision, all adolescents will be eligible for Pfizer’s booster shots.
    The CDC backed Pfizer boosters for 16 and 17 year old teenagers in December.
    The recommendation comes amid an increase in pediatric hospitalizations.

    A nurse gives Sherri Trimble, 15, a shot of the vaccine at a vaccination clinic at Health First Medical Centre in Melbourne, Florida.
    Paul Hennessy | SOPA Images | LightRocket | Getty Images

    The Centers for Disease Control and Prevention’s independent panel of vaccine experts endorsed Pfizer and BioNTech’s Covid booster shots for children ages 12 to 15 on Wednesday, as kids return to school amid an unprecedented surge of infections across the U.S.
    The CDC’s Advisory Committee on Immunization Practices, in a 13 to 1 vote, recommended Pfizer boosters for kids 12 to 15 at least five months after their second dose. CDC Director Rochelle Walensky is expected to quickly sign off on the committee’s endorsement, making third shots available to adolescents as soon as this week.

    If Walensky backs the committee’s decision, all adolescents would be eligible for Pfizer boosters. The CDC backed the boosters for 16 and 17-year-old teenagers in December.
    Hospitalizations of children infected with Covid are rising in the U.S. as the highly contagious omicron variant drives a wave of infection in the broader population. Multiple studies have shown that booster shots significantly increase protection against infection and severe illness.
    Dr. Grace Lee, the committee chair, said the pandemic has burdened an entire generation of children whose mental and emotional health has suffered as a consequence of school closures and separation from their peers. 
    Lee said vaccination was crucial to preventing transmission of the virus and keeping schools and the broader community open so children can thrive. She said the impact of infection on children’s long-term health also remains unclear.
    “I also truly believe we have not yet addressed the long term impact of Covid infection in children,” Lee said.  “I think we haven’t even scratched the surface of what we’re going to see.”

    There are about 3,800 kids hospitalized with Covid as of Wednesday, according to a seven-day average of data from the Department of Health and Human Services, up 64% over the past week and the highest level since HHS started tracking the data in the summer of 2020.
    Dr. Sara Oliver, a CDC official, told the committee that hospitalizations among 12 to 15 year old adolescents has remained relatively stable, though she noted that her data only goes through Dec. 10 and may not reflect new infections from omicron.
    Oliver said the effectiveness for boosters in 12 to 15 year old kids is unknown, but third shots are likely to increase protection. A recent study by the U.K. Health Security Agency found that boosters are up to 75% effective at preventing symptomatic infection. The original two-dose Pfizer vaccine, however, is only about 10% effective at prevention symptomatic infection 20 weeks after the second dose, according to the study.
    Dr. Keipp Talbot, the only committee member to vote against the decision, said she supports boosters but believes vaccinating all eligible children with the first two doses should take priority over third shots.
    “I don’t think it’s fair for 12- to 17-year-olds who have been vaccinated to risk myocarditis again for an unknown benefit because their colleagues won’t get vaccinated,” Talbot said.

    CNBC Health & Science

    The Food and Drug Administration on Monday authorized Pfizer booster shots for kids 12 to 15 on Monday. Dr. Peter Marks, director of the FDA group responsible for vaccine safety, told the CDC panel that the rapid spread of omicron prompted the agency to act fast on boosters for adolescents.
    Marks said the FDA did not identify any new safety concerns after evaluating real-world data from Israel on more than 6,000 kids ages 12 through 15 who received a Pfizer boosters. Among those kids, there were no new cases of myocarditis or pericarditis, rare side effects where the heart is inflamed or swells.
    Dr. Sharon Alroy-Preis, head of public health services in Israel, told the committee there were two cases of myocarditis in the 12 to 15 age group after more than 40,000 booster doses administered.
    Myocarditis appears most common after the second Pfizer dose for kids ages 12 to 15. The CDC’s vaccine safety team found 265 cases total in adolescents 12 to 15 who received two Pfizer doses through Dec. 19, 2021. The overwhelming majority of the cases, 221, occurred after the second dose and 90% of patients were boys.
    Myocarditis resulted in 251 hospitalizations, but 96% of patients were discharged home. The condition remains rare with 45 cases reported per 1 million second doses administered in boys ages 12 to 15, and 3.8 cases per million second doses among girls in the same age group.
    About 47,000 adolescents ages 16 to 17 have received Pfizer booster doses in the U.S., the next age group eligible for boosters, and 95% of reported side effects were not serious, according to the CDC.
    Dr. Evelyn Twentyman, a CDC official, told the committee that vaccinations in Israel – where the nation has rolled out a massive booster campaign – showed myocarditis in people ages 16 and older were even more rare following a booster shot.
    Dr. Julie Bloom, director of the Texas Children’s Hospital Immunization Project, told the committee that a booster recommendation for kids 12 years and older “cannot come soon enough.”
    Bloom said children 12 and older who are vaccinated with Pfizer are already starting to lose their immunity against Covid since they received their first two doses, putting them at increased risk from omicron.
    At least 7.8 million children have caught Covid since the pandemic started, according to the American Academy of Pediatrics. More than 1,000 children have died from the virus, according to data from the Centers for Disease Control and Prevention.
    “We must do everything in our power to minimize any further detrimental effects to the mental health, physical well being and education of our children,” Bloom said.
    White House chief medical advisor Dr. Anthony Fauci, during a press conference Wednesday, said omicron appears less severe for kids than delta, but he cautioned against complacency, urging parents to get their kids vaccinated and boosted when eligible.
    — CNBC’s Nate Rattner, Dawn Kopecki and Lauren Feiner contributed to this report

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    Hasbro taps Dungeons and Dragons lead Chris Cocks as new CEO

    Chris Cocks will be the new CEO of Hasbro starting Feb. 25.
    He currently serves as president and chief operating officer of the company’s Wizards of the Coast and digital gaming division.
    He will take over for interim CEO Rich Stoddart, who held the position after the passing of Brian Goldner in October 2021.

    Three months after the sudden passing of long-time CEO Brian Goldner, Hasbro has named its new chief executive.
    Chris Cocks, who served as president and chief operating officer of the company’s Wizards of the Coast and digital gaming division, has been promoted to the top leadership position. He will take over the post from interim CEO Rich Stoddart on Feb. 25.

    Also at that time, Stoddart, who served as the company’s independent director since 2014, will become chair of the board, and Eric Nyman, who has been with Hasbro for 18 years in various roles, will take over as president and chief operating officer. Nyman will lead the company’s overall consumer licensing strategy and partnerships as well as its global supply chain.
    “Having known Chris for years and working more closely with him these last several months, I have no doubt that he will be an extraordinary leader for the next phase of Hasbro’s journey,” Stoddart said in a statement Wednesday. “A storyteller and gamer at heart, Chris innately understands how to create and nurture brands to drive fan and consumer connection across channels. He is a highly strategic leader, with the vision, skills and experience to unlock our Brand Blueprint for supercharged growth.”
    Cocks has been part of the Hasbro team since 2016, working primarily with the company’s Dungeons & Dragons, Magic: The Gathering and Duel Masters franchises. Under his leadership, Wizards of the Coast has become one of Hasbro’s top revenue drivers. It has more than doubled since Cocks took the helm and generated $1 billion in revenue in 2021.
    Prior to his tenure at Hasbro, Cocks worked at Microsoft leading teams that focused on MSN and Xbox Games with franchises like Halo and Fable.
    “Hasbro has amazing brands, gifted storytellers and unique entertainment assets, and I am humbled to step into the position of CEO at this important time and to build on the strong foundation Brian created,” Cocks said in a statement.
    Cocks takes over for the late Goldner, a beloved leader who successfully grew Hasbro’s business beyond toys and games and into television, movies and digital gaming. Goldner’s tenure was marked by a focus on leveraging the company’s brands across all areas of the entertainment industry as well as the continuation of strong licensing relationships with major franchises like Disney-owned Star Wars and Marvel.

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    Nike sues Lululemon for patent infringement over at-home Mirror gym and fitness apps

    Nike on Wednesday filed a lawsuit accusing Lululemon of patent infringement over the apparel maker’s at-home Mirror fitness device and related mobile applications.
    Nike has launched a range of popular mobile apps such as Nike Run Club and Nike Training Club.
    Lululemon bought Mirror for $500 million in 2020 amid a rush among consumers to workout at home during the Covid pandemic.

    Getty Images

    Nike on Wednesday filed a lawsuit accusing Lululemon of patent infringement over the apparel maker’s at-home Mirror fitness device and related mobile applications.
    Nike claims that in 1983, it invented and filed a patent application on a device for determining a runner’s speed, distance traversed, elapsed time and calories expended. It has also since launched a range of popular mobile apps such as Nike Run Club and Nike Training Club.

    The company said it holds a number of other fitness equipment patents that Lululemon is infringing on by selling Mirror, a wall-mounted device that guides users through a variety of high-intensity cardio classes and other exercises.
    Lululemon bought Mirror for $500 million in 2020 amid a rush among consumers to workout at home during the Covid pandemic. The device puts Lululemon in competition with rivals such as Peloton, Hydrow and Tonal.
    Prior to filing the lawsuit, Nike said, it notified Lululemon on Nov. 3 of the alleged infringement and that the leggings maker dismissed Nike’s claims. The suit was filed in Manhattan federal court.
    A spokesperson for Lululemon said in an emailed statement, “The patents in question are overly broad and invalid. We are confident in our position and look forward to defending it in court.”
    Lululemon shares closed Wednesday down 4.8%. Nike shares fell 2.5% amid a broader market sell-off.

    Lululemon is currently embroiled in another legal battle, with Peloton. In late November, it filed a patent lawsuit against the connected fitness company in a feud over the designs of its sports bras and leggings.
    Peloton had earlier sought a court’s declaration that it has not infringed on any of Lululemon’s patents. The company has maintained that its own athletic apparel merchandise is easy to decipher from Lululemon’s. Lululemon, though, is asking for damages and other monetary relief.

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    Peloton's holiday may have been weaker than expected, analysts say, prompting lower forecasts

    Declining visits to Peloton’s website and higher-than-normal promotional activity is prompting a JPMorgan analyst to lower his forecast.
    The move comes about one month before Peloton’s next scheduled financial report.
    Shares of the fitness streamer touched a 52-week low on Wednesday of $32.02.

    A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.
    Adam Glanzman | Bloomberg | Getty Images

    Peloton’s troubles have lingered into the new year.
    JPMorgan analyst Doug Anmuth said Wednesday that declining visits to Peloton’s website and higher-than-normal promotional activity prompted him to lower his forecast for the fitness streamer.

    Anmuth slashed estimates for revenue and subscriber growth in the fiscal second quarter, which ended in December. He expects second-quarter sales will inch up to $1.1 billion from $1.06 billion during the year-earlier period. Previously, he saw sales touching $1.2 billion.
    Slowing subscriber acquisitions are weighing on sales growth, and Anmuth expects Peloton to report 2.79 million subscribers, down from an earlier forecast of 2.83 million.
    Both estimates are below Peloton’s internal expectations. The company sees between $1.1 billion and $1.2 billion in sales, and between 2.8 million and 2.85 million subscribers.
    For the full year, Anmuth forecasts sales of $4.2 billion, down from his prior call of $4.6 billion, and year-over-year subscriber base growth of 42% year, down from 47%.
    If realized, that would be a marked deceleration from prior years. In 2021, Peloton’s subscriber base jumped by 114% and was up 113% the previous year.

    In early November, Peloton lowered its 2022 revenue expectations to between $4.4 billion and $4.8 billion, down from $5.4 billion. It also cut expectations for subscribers to a range of 3.35 million to 3.45 million, down from 3.63 million. 
    Peloton likely faces soft consumer demand in the near term and uncertainty in the back half of the year, Anmuth said. Citing Similarweb data, he said visits to Peloton.com on desktop computers and mobile devices dropped 5% in the quarter ended in December compared to the year-earlier period.
    Peloton declined to comment. It is scheduled to report earnings in early February.

    Analysts losing confidence

    Growth isn’t coming as easy for Peloton as it did at the onset of the pandemic, when the company’s stock was seen as a strong stay-at-home play. Now, competition is coming from other at-home fitness options and gym chains such as Planet Fitness and New York City-based Equinox. That has forced Peloton to spend more to acquire new customers.
    Peloton next challenge, analysts say, is to introduce new workout devices beyond its bikes and treadmills, as well as entice existing subscribers to build out their home gyms. It’s also eyeing international expansion, but that comes with short-term costs.
    Anmuth cut his December 2022 price target for Peloton shares to $50 from $70. That’s still about 48% upside from Tuesday’s closing price of $33.82. On Wednesday, shares touched a 52-week low of $32.02 and closed the day down 4.7% at $32.23.
    Analysts who cover the company expect the stock to bounce back. The stock’s average price target is $72.42, according to FactSet. BMO Capital Markets analyst Simeon Siegel has the lowest target of the group, at $45.
    At this point, Peloton has nearly wiped out its pandemic-fueled stock gains. In 2021, shares tumbled 76%, after rising more than 440% in 2020.
    Early last week, Raymond James analyst Aaron Kessler also said he expected a disappointing December, which could prompt the company to cut its full-year forecast again.
    “When Peloton provided guidance, we believe the company was assuming a return to stronger seasonality in the December quarter following the slower summer seasonality,” said Kessler in a note to clients.
    Net subscriber additions in the second quarter could come in closer to 220,000 compared to the first quarter, he said. Raymond James has a “bear case” rating on the stock of $27 and a “bull case” rating of $51. Kessler said a fair value would be about $38 per share.
    Two days later, Baird analyst Jonathan Komp cut his price target to $70 from $90. The firm also removed Peloton from its “fresh pick” list.
    “Several indicators have reduced our confidence in near-term estimates,” said Komp in a research note. However, he said that he’s more optimistic about Peloton’s longer-term prospects in the booming health and fitness industry.
    Similar to JPMorgan’s Anmuth, Komp said net subscriber additions in the second quarter could be around 300,000 and miss the company’s provided expectations.
    He also said Peloton’s instructors have not been gaining as many followers on social media platforms lately, a measure that has been a strong indicator of past performances, he said.

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    Grammy Awards postponed indefinitely amid omicron-fueled Covid surge

    The 64th annual Grammy Awards show has been postponed.
    This year’s ceremony was set to take place on at Los Angeles’ Crypto.com Arena.

    Kurt Krieger – Corbis | Corbis Entertainment | Getty Images

    The 64th annual Grammy Awards show has been postponed indefinitely amid a resurgence of Covid cases, fueled by the omicron variant.
    “The health and safety of those in our music community, the live audience, and the hundreds of people who work tirelessly to produce our show remains our top priority,” said the Recording Academy and CBS in a joint statement Wednesday.

    “Given the uncertainty surrounding the Omicron variant, holding the show on January 31st simply contains too many risks,” the two organizations added. “We look forward to celebrating Music’s Biggest Night on a future date, which will be announced soon.”
    This year’s ceremony was set to take place at Los Angeles’ Crypto.com Arena and be broadcast by CBS. “The Daily Show’s” Trevor Noah is still expected to return as the host of the Grammys this year.
    This is the second time that the awards ceremony has been delayed due to the pandemic. Last year, the show, which was also slated for Jan. 31, was moved to March 14, 2021, because of a spike in Covid cases in Los Angeles, where the event was slated to be held. The event was also moved from the Staples Center (now Crypto.com Arena) to the Los Angeles Convention Center to provide more space for guests.
    According to Variety, the Grammys typically require a 10-day or more lockout of the venue in which they are held. However, the Crypto.com Arena’s schedule doesn’t appear to have that kind of opening until at least June.
    The Recording Academy will likely look to produce a full show with a live audience. The Grammys generate millions of dollars in revenue, even though — like many televised award shows — ratings have declined in recent years.
    Heading into the 2022 ceremony, Jon Batiste, the bandleader on “The Late Show with Stephen Colbert,” led the pack with 11 nominations. Chart topping artists Justin Bieber, H.E.R., Doja Cat, Billie Eilish and Olivia Rodrigo also received multiple nominations.

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