Raphael Stevens

In this articleAZN-GBA medical worker injects a man with a dose of the COVID-19 vaccine at a hospital in Accra, capital of Ghana, May 19, 2021.Seth | Xinhua News Agency | Getty ImagesAfrica needs at least 20 million doses of AstraZeneca’s Covid-19 vaccine within the next six weeks to get the second round of shots to people who’ve already received the first, the World Health Organization said Thursday.Data shows that one dose of the AstraZeneca vaccine is 70% effective for at least 12 weeks, but the second dose provides 81% protection against Covid for an extended time, according to the WHO. Antibodies have been observed in the body up to six months after one dose.For the continent to vaccinate at least 10% of its population by September, another 200 million doses of any cleared Covid-19 vaccine is urgently needed, the WHO said.As of Thursday, 28 million Covid-19 doses from different drugmakers have been administered in Africa, which has almost 1.4 billion people, representing less than two doses per 100 people on the continent. By comparison, more than 165 million people in the U.S. have received at least one vaccine dose, equivalent to almost half of the country’s population, according to the Centers for Disease Control and Prevention.”Africa needs vaccines now. Any pause in our vaccination campaigns will lead to lost lives and lost hope,” said Dr. Matshidiso Moeti, WHO regional director for Africa. “We urgently appeal to countries that have vaccinated their high-risk groups to speed up the dose-sharing to fully protect the most vulnerable people.”France pledged to share half a million doses with six African countries in the next few weeks, and has already sent 31,000 doses to Mauritania. Another 74,400 doses are set to be shipped out soon, the WHO said.The European Union said it will send 100 million doses to low-income countries by the end of 2021 and the United States has pledged 80 million doses. Other countries around the world have also expressed interest in sharing doses. Countries in Africa that are not using all of their doses are also sharing them with other countries on the continent, according to the WHO.Redistributing vaccine doses, while helpful, is expensive. The WHO says that Africa must boost its manufacturing capacity for vaccines.”Intellectual Property waivers are a crucial first step but must come alongside the sharing of expertise and critical technologies,” the WHO wrote in a press release.In Africa, 54 countries are included in a more than 100-country effort by the WHO to present a draft resolution to the World Health Assembly. The resolution is meant to “strengthen local production, promote technology transfers and innovation, and consider the agreement on Trade-Related Aspects of Intellectual Property Rights and intellectual property rights through the lens of boosting local production,” according to the WHO.About 40 African countries have also joined a WHO training to build manufacturing capacity and WHO says it is also working with the African Union on a plan to support feasibility studies and technology transfers upon request.”It’s too soon to tell if Africa is on the cusp of a third wave. However, we know that cases are rising, and the clock is ticking,” Moeti said. More

In this articleGPSGap CEO Sonia Syngal thinks Walmart is the perfect partner for the apparel retailer as the two companies endeavor to launch a new home brand together.”This is a new chapter for us,” Syngal told CNBC’s Jim Cramer on “Mad Money” Thursday evening. “We’re excited about the scale of Walmart, coupled with the cool of Gap.”CNBC reported a day earlier that Walmart tapped Gap to launch a home brand, called Gap Home, that will debut with about 400 pieces on Walmart.com and across many of the big-box retailer’s stores.For Gap, it marks the first time the company has ventured into a category outside of apparel as it looks for opportunities to license its globally recognized brand name. For Walmart, the deal proposes a way to hopefully win more sales in the home space — and to win new customers — while elevating its selection of exclusive brands online and in stores.”Gap is one of the most iconic brands in the world,” Syngal told Cramer. “And brands don’t die. … If we’re strong at home, we can extend the brand around the world with confidence and momentum.””What we’re doing is restructuring the business model of how we monetize the [Gap] brand,” she added.Gap also reported on Thursday fiscal first-quarter sales that surpassed pre-pandemic levels as shoppers turned to Old Navy and Athleta to refresh their wardrobes ahead of the summer months.The retailer raised its sales outlook for the full year, sending its stock higher in extended trading. Gap’s namesake banner in North America has also started to show early signs of improvement. Meanwhile, e-commerce growth remains strong even as more people begin to leave their homes and head back to the mall.Syngal told Cramer that, right now, consumers are looking for a medley of “comfort and cocktail dresses.”While people are eager to get dressed up and socialize again, she said, they also still want to wear leggings and sweat pants around the house. And Gap stands to benefit because it has a mix of brands under its umbrella that offer a variety of styles and price points, she said.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

In this articleSNOWBYNDCNBC’s Jim Cramer on Thursday reminded investors to thoughtfully digesting earnings and other corporate news before making a decision to dump or purchase a stock.”Why can’t we just take earnings at face value and immediately decide that something is either good or bad? Because it takes time to assess new information,” the “Mad Money” host said. “Just like anything else when you rush to judgment in the stock market, you’re going to make mistakes. That’s why you can’t rely on the first blush to determine how a company is doing.”Cramer pointed to Wednesday’s earnings report from Snowflake as an example. Shares of the data-analytics software firm tumbled as much as 8% in extended trading, before trimming those losses.”If you bothered to listen to CEO Frank Slootman on last night’s show, you would’ve been a buyer, not a seller, because it was a brilliant quarter,” Cramer said, noting that Snowflake shares ultimately rose more than 4% Thursday after starting the session lower.”The second blush,” Cramer said, proved to be “much more accurate.”Beyond Meat’s stock move Thursday also demonstrates the need for due diligence before making an investment decision, Cramer said. Shares of the plant-based meat maker popped 12.5% to close at $142.61 per share.”At first blush, you might think Beyond Meat’s setting itself up for a big quarter thanks to its deals with McDonald’s and China KFC,” Cramer said.However, there’s more to the stock move than just those positive business developments, he said. Specifically, Cramer said Reddit’s WallStreetBets forum — known for influencing meme stocks like GameStop — appears to be playing a role.”They’re simply trying to break the short-sellers here, because 25% of the float is sold short. The action tells you nothing about the fundamentals, although I do predict … more pain for the shorts,” Cramer said.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

In this articleVIACEmily Blunt, Millicent Simmonds and Noah Jupe star in “A Quiet Place Part II.”Paramount PicturesJohn Krasinski has dazzled critics again.The writer-director’s follow-up feature to 2018’s “A Quiet Place” currently holds a 91% “Fresh” rating on Rotten Tomatoes from 135 reviews.”A Quiet Place Part II” is the much-anticipated sequel to Krasinski’s horror film that introduced moviegoers to a world in which deadly but blind creatures hunt based only on sound. It is being distributed by Paramount Pictures.The sequel, which picks up right after the events of the first film, follows the Abbott family as they search for a safe new home. But there are more dangers in the world than deadly aliens — namely, other survivors.Critics seem to agree that Krasinski was placed in a tough position to follow up the much-celebrated first installment of “A Quiet Place.” After all, the film had a poetic, albeit devastating, ending.However, a $340 million global box office haul from a budget of only $17 million was an enticing draw for Paramount.Krasinski has managed to keep the emotional thread of the Abbott family throughout the sequel, while expanding upon the universe of “A Quiet Place.”His wife, actress Emily Blunt, returns as Evelyn Abbott, alongside deaf teen actress Millicent Simmonds as Regan Abbott and a young English actor named Noah Jupe as Marcus Abbott.Here’s what critics thought of “A Quiet Place Part II” ahead of its release in theaters Friday.Kristy Puchko, Riot MaterialKrasinski’s new film is “a supremely scary and satisfying sequel,” writes Kristy Puchko in her review for Riot Material.”Frankly, it’s astonishing how Krasinski has evolved as a filmmaker,” she wrote. “He’s crafting sequences that will have audiences at the edge of their seats, while carving out a story of family and loss that is profoundly poignant. It’s little wonder he’s scoring comparisons to early Spielberg. Because for all the top-notch scares and relentless tension this horror-thriller has to offer, the most exhilarating bits are the seeing how its characters develop.”For Puchko, “A Quiet Place Part II” expands upon the world built in the first film, managing to deliver callbacks to its predecessor but also treading new ground.”Boasting performances that have matured along with its young leads, this fantastic follow-up does so with captivating confidence,” she wrote.Read the full review from Riot Material.Millicent Simmonds stars in “A Quiet Place Part II.”ParamountStephanie Zacharek, TimeFor Stephanie Zacharek, a writer for Time, Krasinski’s sequel packed a lot more into the story than the first film, perhaps too much more.”The movie is intelligently conceived, well-acted and nicely crafted,” she wrote. “But like any sequel, it’s fixated on upping the ante, and thus pitched at a much higher stress level. It never lets up, which might be great fun for some viewers, though its doggedness also makes it wearying.”Zacharek praised the company’s sound design, calling the film “intricate and technically accomplished.”The studio and Krasinski had been insistent about holding onto the film until it could be released in theaters, instead of offering it up on a streaming service. The result is an experience similar to that of the first film — a sense of dread and suspense at even the slightest noise on screen or in the cinema.Read the full review from Time.Chris Hewitt, Star Tribune”I really liked the first ‘Quiet Place’ and was skeptical Krasinski could top it but I’m here to shout loudly that he has,” Chris Hewitt wrote in his review of the film for Star Tribune.Hewitt, too, noted that Krasinski used sound, or rather silence, to indicate the movie is shifting to Regan’s perspective. The director shows how Regan uses her deafness to her advantage as she battles the monsters.”The movies that studios held onto for more than a year, waiting until theatrical releases made sense, fell into a few categories: Those with the kind of impact that needed jumbo-sized screens. Those that were destined to be big hits. And those that were fantastic. ‘A Quiet Place: Part II,’ playing exclusively in theaters, is all three,” he wrote.Read the full review from Star Tribune.Emily Blunt, Millicent Simmonds and Noah Jupe star in “A Quiet Place Part II.”ParamountLeah Greenblatt, Entertainment WeeklyWhile “A Quiet Place Part II” may feel like “three quarters of a very good movie chopped off from a whole,” Krasinski’s sequel is smart and resourceful, just like its characters, Leah Greenblatt said in her review for Entertainment Weekly.”Once again, Krasinski manages to render relatively straightforward tasks — nursing a baby, tuning a radio, walking through a train car — harrowing; dialogue, by necessity, is rarely wasted, and his actors feel far more sympathetically human and real than most meat-puppet horror chum,” Greenblatt wrote.Greenblatt noted that the film does end rather abruptly, but that the world-building accomplished suggests that this won’t be a one-and-done sequel but the second film in a franchise.Read the full review from Entertainment Weekly.Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Rotten Tomatoes. More

In this articleGPSA Gap store in New York, August 2, 2020.Scott Mlyn | CNBCGap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer.The retailer raised its sales outlook for the full year as Gap’s namesake banner in North America shows early signs of improvement and e-commerce growth remains strong. The company said 80% of its sales are coming from outside of the traditional shopping mall: Either online, in strip centers or from street-level locations.But Gap continues to face supply chain challenges, as well as obstacles in sourcing raw materials, as Covid cases keep rising in countries including India, management said. A resurgence in Covid-19 cases in Canada, Europe, China and Japan will pose a risk to demand in the near term, it said.Gap’s stock was recently down about 2% in extended trading.”While active and fleece continue to soar, we saw a resurgence in summer fashion with dresses rebounding, showing that customers are emerging from the crisis wanting to express their style without sacrificing the comfort and digital convenience they’ve become accustomed to,” CEO Sonia Syngal said in a statement.Here’s how Gap did during the period ended May 1, compared with what analysts polled by Refinitiv were anticipating:Earnings per share: 48 cents adjusted vs. a loss of 5 cents expectedRevenue: $3.99 billion vs. $3.45 billion expectedGap swung to a profit of $166 million, or 43 cents per share, from a loss of $932 million, or $2.51 per share, a year earlier. Excluding one-time charges associated with the sale of Janie & Jack and Intermix, Gap earned 48 cents per share during the quarter. That came in well ahead of an expected 5 cent loss.Total revenue grew to $3.99 billion from $2.11 billion a year earlier, when the retailer’s stores were shut for a period of time due to the Covid pandemic. That topped a Refinitiv estimate of $3.45 billion.Gap estimated that the ongoing Covid-related closures in markets outside of the United States lowered sales by 2% from 2019 levels during the latest period. Overall, fiscal first-quarter sales were up 8% on a two-year basis.At Old Navy, comparable sales were up 35% year over year, and up 25% versus 2019. The Athleta business saw comparable sales rise 27% from last year, and jump 46% on a two-year basis. Together, these two brands drove 66% of company-wide sales in the latest quarter, Gap said.At Gap’s namesake banner, comparable sales globally grew 29% from last year, but were down 1% on a two-year basis. In North America, the brand showed signs of progress, with comparable sales in the region up 9% from 2019.Banana Republic’s sales fell 4% on a comparable basis year over year, and dropped 22% versus 2019, as fewer consumers have been looking for outfits to wear to work.Online sales grew 82% from two years prior, accounting for 40% of total revenue. Store sales were down 16% on a two-year basis, mainly because of ongoing store closures and remaining Covid restrictions outside of the United States, Gap said.A future outside of the mallAs Gap hunts for future growth, it will increasingly find it outside of traditional shopping malls, as evidenced by its latest results.The company had announced last fall that it plans to shut about 350 of its Gap and Banana Republic locations in North America by the end of fiscal 2023, many of which are inside malls. As part of that roadmap, Gap said Thursday it will close 75 of those underperforming shops this year.The retailer is now calling for adjusted earnings to be in a range of $1.60 to $1.75 per share this year, with net sales rising in the low- to mid-twenty percent range from 2020. Previously, it was looking for mid- to high-teens percentage sales growth.Gap noted, however, that its outlook does not include any potential impacts from the ongoing strategic review of its European business, while Covid-related store closures overseas and port congestion remain headwinds.Analysts had been looking for fiscal 2021 earnings per share of $1.38, with sales growing 17.8% year over year.Gap will also soon be moving into Walmart’s big-box stores, with the launch of a new home brand. And Gap’s highly anticipated clothing collaboration with rapper Kanye West, on a line called Yeezy Gap, is still expected to debut later this year.”Through partnerships, we can expand the reach of our brand to customers,” Syngal said on an earnings conference call.Gap shares closed Thursday up about 4%. The stock has risen 74% year to date, putting its market cap at $13.2 billion. Find the full earnings press release from Gap here. More

In this article9984.T-JPKlarna CEO Sebastian Siemiatkowski speaks at a technology and music conference in Stockholm, Sweden.Johan Jeppsson | Bloomberg via Getty ImagesKlarna, a European buy-now-pay-later company, is close to securing a new funding round at a valuation of more than $40 billion, according to a source familiar with the matter.The investment is being backed by SoftBank and multiple other investors, said the person, who asked to remain anonymous as the details have not yet been made public.The news, which comes ahead of a potential blockbuster stock market listing, was first reported Thursday by Business Insider.The exact size of the investment round is unknown. However, it is expected to be less than the $1 billion that Klarna raised in March, when it was valued at $31 billion, according to Business Insider.SoftBank and Klarna declined to comment when contacted by CNBC.Klarna is already listed as a portfolio company on SoftBank’s website through the firm’s Vision Fund 2. Klarna is also backed by big-name investors such as Snoop Dogg and China’s Ant Group. If the deal goes through, Klarna will cement its place as Europe’s most valuable private tech unicorn, surpassing the likes of Amazon-backed food delivery service Deliveroo and online payment processor Checkout, which hit a $15 billion valuation in January.Less than three hours after the funding round was first reported, Klarna CEO Sebastian Siemiatkowski announced on Twitter that the company has experienced a “self-inflicted incident.””So sad and frustrating to realize that we have had a self-inflicted incident, for 30 min, affecting the privacy of some of our users,” he said, indicating that the company may have experienced a data breach of some sort.”Full attention from all colleagues to bring back things to normal, take actions to avoid this going forward and communicate broadly,” added Siemiatkowski.Klarna, based in Sweden, continues to grow rapidly more than a decade after it was founded and has made significant strides expanding into the U.S. It got a big boost last year from heightened demand for buy-now-pay-later plans, fueled in part by coronavirus lockdowns that accelerated a shift toward online shopping.At the same time, the heightened demand for buy-now-pay-later products has drawn scrutiny from regulators in the U.K., who are set to bring in strict new rules governing the sector.”We are, with this product, challenging a massive industry that has overcharged consumers with overdraft fees, with interest bearing terms of use,” Siemiatkowski told CNBC in February. “There’s a lot of misconceptions in the U.K., but when we get the chance to sit down with U.K. politicians … they get convinced and then they switch sides.”Klarna hit $1 billion in annual revenue for the first time last year, posting record operating income of $1.2 billion. However, losses also accelerated 50% due to increased costs associated with international expansion, with Klarna’s net loss coming in at about $109.2 million.Klarna makes money by taking a fee from merchants each time a customer makes a transaction. It says merchants that use its service often see an increase in sales as a result. The company is a regulated bank and has been increasingly making a drive into retail banking in its home country as well as Germany. More