Raphael Stevens

In this articleAZN-GBA medical worker fills a syringe with AstraZeneca vaccine at Santa Caterina da Siena – Amendola secondary School in Salerno on March 13, 2021 in Salerno, Italy.Francesco Pecoraro | Getty Images News | Getty ImagesLONDON — Public preference for the coronavirus vaccine developed by AstraZeneca and the University of Oxford has fallen since reports emerged potentially linking it to some cases of unusual blood clotting events.A study of almost 5,000 adults in April in the U.K. — where Covid vaccine take-up is high and the immunization program well-established — has found that the public’s preference for the AstraZeneca Covid vaccine has declined since March, and belief that it causes blood clots has increased.The British academic study found 17% of the public now say they’d prefer to have the AstraZeneca vaccine, if they had a choice of any — down from 24% toward the end of March.And 23% of people now believe the AstraZeneca vaccine causes blood clots — up from 13% in March. However, the public are still most likely to say this claim is false (39%) or that they don’t know whether it’s true (38%).The study, carried out by the University of Bristol, King’s College London and the NIHR Health Protection Unit in Emergency Preparedness and Response between April 1-16, found a “big difference” in beliefs before and after the MHRA (the U.K.’s drug regulator) announced there was a possible link between the vaccine and extremely rare blood clots on April 7.The study found that 17% of those interviewed in the first week of that month thought this claim was true, compared with 31% interviewed after.Why the fall?Since its first clinical data was released showing the vaccine had an average efficacy rate of 70% (subsequent trials in the U.S. found an efficacy rate of 79% and other trials have shown the efficacy rate to rise with a wider gap between the first and second doses) the fortunes of the AstraZeneca vaccine have been mixed, to say the least.Read more: Data, doubts and disputes: A timeline of AstraZeneca’s Covid vaccine problemsOne of the more recent hurdles faced by the AstraZeneca vaccine were a small number of reports of unusual blood clotting events, some of which were fatal, that emerged in post-vaccinated people in Europe in February, leading several countries to suspend use of the vaccine.The U.K. and EU drug regulators (the U.K.’s Medicines and Healthcare Products Regulatory Agency and the European Medicines Agency) investigated the reports and said while there was a possible link between the vaccine and a small number of blood clotting incidents, the benefits of the vaccine greatly outweighed the risks.The British-Swedish vaccine maker, U.K. government and experts largely defended the vaccine, saying that it had protected millions of people by reducing the number of Covid cases, hospitalizations and deaths.In addition, experts sought to put the risk into context, saying that the number of rare blood clotting cases with low platelets reported equated to around one case per 250,000 people vaccinated and one death in a million.The U.K. is fortunate in that it has traditionally had a high level of public support for vaccinations. The survey on vaccine preference found that despite the growing belief that the AstraZeneca vaccine is linked to blood clots, it has not dented overall levels of confidence in vaccines in general with 81% now saying vaccines are safe, compared with 73% who said the same toward the end of 2020.  There has been a similar change in views of how well vaccines work: 86% say they are effective, an increase from 79% in Nov-Dec 2020.Surveys have shown the public perception of the AstraZeneca vaccine has deteriorated in mainland Europe, however, and anecdotal evidence that people in the EU have been shunning the AstraZeneca vaccine (reportedly nicknamed the “Aldi” vaccine, after the low-cost grocery chain, because of its cheaper production cost and image) in favor of the coronavirus vaccine from Pfizer-BioNTech that is also predominant in the EU’s vaccination rollout.Read more: ‘The damage is done’: Europe’s caution over AstraZeneca vaccine could have far-reaching consequencesModerna’s shot and Johnson & Johnson’s shot have also been authorized for use in the EU and U.K. but have been distributed to a lesser extent, EU vaccination data shows.Vaccine hesitancy can work both ways, it would seem. One British doctor was reported in the Evening Standard newspaper in January saying that some of his patients had turned down the chance to have the Pfizer vaccine, saying they would “wait for the English one.” More

Two major lobbying groups for the U.S. automotive industry are urging updates to federal vehicle safety regulations in the wake of high-profile crashes involving Tesla vehicles.During a Senate subcommittee hearing Tuesday, executives with the Alliance for Automotive Innovation and Motor & Equipment Manufacturers Association said the U.S. needs better standards and protocols to address automated driving systems like those sold by Tesla under the brand names Autopilot and Full Self-Driving.Tesla has drawn criticism for its design, testing and marketing of these systems, including failure to prevent drivers from abusing or over-estimating the capabilities of Autopilot and FSD.Questions are swirling about whether Autopilot or FSD were to blame in any way in recent Tesla crashes the National Transportation Safety Board and National Highway Traffic Safety Administration are now investigating. The NHTSA has opened around 28 investigations into Tesla vehicle crashes to date, and about 24 of these are active. NTSB has opened 8 such investigations.Automated driving systems, also known as driver-assist systems, can control of some of a vehicle’s functions. But auto makers still require drivers to remain attentive and engaged in driving even if the systems are in use.Generally, driver assist relies on a mix of cameras and sensors. Some car makers use advanced mapping along with sensors to limit use of their systems to certain roads.No precise federal regulations or performance standards govern automated driving systems in the U.S. despite their commercial availability.”The U.S. is in danger of losing our competitive edge due to a lack of clear national policies,” Ann Wilson, senior vice president of government affairs at the Motor & Equipment Manufacturers Association, said during Tuesday’s hearing. She later added, “NHTSA can do more and should do more.”John Bozzella, CEO of the Alliance for Automotive Innovation, said a “more strategic and more robust approach” to the government’s New Car Assessment Program is needed. He also said a modernization of the government’s Federal Motor Vehicle Safety Standards (FMVSS) that specify design, construction, performance, and durability requirements for vehicles also should be analyzed regarding highly-automated and autonomous vehicles.”We do need a national strategy, a framework that gets up to a new type of regulation,” he said.The comments came Tuesday afternoon during a Senate Subcommittee on Surface Transportation, Maritime, Freight, and Ports hearing regarding how automotive innovation will influence the future of vehicle safety, mobility, and technology in a global economy.It came a day after three Democratic U.S. senators on Monday introduced legislation mandating performance standards for driver-monitoring systems and requiring installation of those systems in new vehicles.Tesla is not a part of the Alliance for Automotive Innovation or Motor & Equipment Manufacturers Association. The company did not respond for comment.A steering wheel light bar and cluster icons indicates the status of Super Cruise™ and will prompt the driver to return their attention to the road ahead if the system detects driver attention has turned away from the road too long. Source: General MotorsDriver-monitoringPrior to the hearing, the Alliance for Automotive Innovation, which represents auto suppliers and manufacturers producing nearly 99% of new cars and light trucks sold in the U.S., released several safety principles related to driver monitoring in vehicles with driver-assist systems such as Tesla’s Autopilot.The guidelines, among other things, push for automakers to adopt camera-based driver monitoring systems for vehicles that have automated driving or driver-assist systems. These are designed to sense whether drivers are staying attentive and ready to drive manually in situations where the automated program won’t suffice.General Motors, Subaru and BMW have camera-based driver monitoring systems already, and others such as Ford Motor have announced similar plans. Tesla vehicles have cabin cameras, but according to the company’s owners manuals, these are not used for driver monitoring. Tesla’s systems require drivers to “check in” by touching the steering wheel.”This issue that we’re discussing now — and I agree with you – is one of consumer awareness and consumer confidence. This is why we outlined these driver monitoring principles today,” Bozzella said during the hearing without mentioning any company or specific system. “Driver-monitoring is an important element of this.”Tesla investigationsConsumer Reports last week found a 2020 Tesla Model Y could “easily get the car to drive even with no one in the driver’s seat.”The test involved rigging the Tesla’s steering wheel to skirt the vehicle’s safeguards that may have otherwise disabled Autopilot. The test followed a fatal crash of a 2019 Model S in Spring, Texas in April that elicited two federal investigations by the National Transportation Safety Board and National Highway Traffic Safety Administration.After a preliminary investigation there, a Harris County constable named Mark Herman told television stations that his investigators were “certain” that nobody was in the driver’s seat of the Tesla at the time of the crash.Comprehensive investigations have not been completed, and authorities have not said whether Autopilot or Tesla’s premium automated driving system FSD were in use before or at the time of the collision. Tesla cautions in its owners’ manual that Autopilot and FSD require active supervision.The remains of a Tesla vehicle are seen after it crashed in The Woodlands, Texas, April 17, 2021, in this still image from video obtained via social media. Video taken April 17, 2021.Scott J. Engle | via ReutersTesla CEO Elon Musk said earlier this month in a tweet: “Data logs recovered so far show Autopilot was not enabled & this car did not purchase FSD. Moreover, standard Autopilot would require lane lines to turn on, which this street did not have.”On a first-quarter earnings call Monday, Musk said journalists should be “ashamed” of their reporting on the crash. Tesla’s vice president of vehicle engineering, Lars Moravy, also shared additional details he said Tesla had learned from assisting in the local and federal investigations so far.Among other things, Moravy said that in the Spring, Texas incident, “Autosteer did not and could not engage on the road condition as it was designed.” He added that the car “only accelerated to 30 miles per hour,” before it crashed into a tree, and that a steering wheel deformity indicated to Tesla a “likelihood that someone was in the driver’s seat at the time of the crash.”Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014.Lucy Nicholson | ReutersDuring the Tuesday government hearing, Sen. Richard Blumenthal, D-Conn., criticized Tesla and Musk for speaking about the crash while federal investigations are still underway.”I was very disappointed that Tesla through its CEO took to Twitter to downplay the involvement of the company’s advanced driver assistance system before both the NTSB and NTHSA have completed their ongoing investigation into the deadly accident,” he said.The NTSB told CNBC via email, “Our investigation is ongoing and we are focused on the operation of the vehicle and the post crash fire.”NHTSA, and Spring, Texas police were not immediately available to comment.Blumenthal indicated that he agrees with some auto lobbyists that federal safety standards and new regulations are needed.He said, “Tesla’s crash highlights that there are many unanswered questions regarding the technology that purports to be automated. And sadly, there are no current regulations to provide the public with a lot of comfort that more automation without significantly upgraded consumer protection is the answer.” More

Cape Canaveral, Florida, United States – A SpaceX Falcon 9 rocket carrying 58 satellites for SpaceX’s Starlink broadband internet network and three SkySat earth-imaging satellites launches from pad 40 at Cape Canaveral Air Force Station on August 18, 2020 in Cape Canaveral, Florida.Paul Hennessy | NurPhoto | Getty ImagesThe Federal Communications Commission on Tuesday approved SpaceX’s proposed modification of its Starlink satellite license, a win for Elon Musk’s growing broadband network despite objections from competitors including Amazon and Viasat, among others.”We conclude that grant of the SpaceX Third Modification Application will serve the public interest,” the FCC wrote in the order. “Our action will allow SpaceX to implement safety-focused changes to the deployment of its satellite constellation to deliver broadband service throughout the United States, including to those who live in areas underserved or unserved by terrestrial systems.”SpaceX filed the modification request a year ago. The company requested that, after its first 1,584 satellites are in orbit, it change the next 2,814 satellites to an altitude of under 570 km from its previous plan of an altitude above 1,100 km. The FCC’s approval comes at a key moment for SpaceX, as the company has nearly 1,400 satellites in orbit and likely would have had to halt its rapid launch campaign without the FCC’s authorization.Musk, in a tweet responding to the agency’s decision, said the “FCC is fair & sensible,” emphasizing that “99.9% of the time, I agree with regulators.””On rare occasions, we disagree. This is almost always due to new technologies that past regulations didn’t anticipate.”Starlink is the company’s capital-intensive project to build an interconnected internet network with thousands of satellites — known in the space industry as a constellation — designed to deliver high-speed internet to consumers anywhere on the planet.Opponents filed numerous responses to SpaceX’s proposed modification, with companies including Amazon saying it would cause interference with other satellite networks. SpaceX’s competitors also argued the change was too significant for the FCC to treat it as a simple modification, saying it should instead be included in a broader processing round with new satellite systems.The FCC dispute between SpaceX and Amazon spilled into public view in January, when Musk took to Twitter to allege his competitor is attempting “to hamstring Starlink,” adding that Kuiper “is at best several years away from operation.” While Amazon has yet to announce when its first Kuiper satellites will launch, the FCC’s authorization of the system last year requires that the company deploy half of its planned satellites within six years. That represents Amazon deploying about 1,600 satellites in orbit by July 2026.While Amazon filed multiple objections to SpaceX’s modification, the tech giant called the FCC’s ruling “a positive outcome” because it “places clear conditions on SpaceX,” an Amazon spokesperson said in a statement to CNBC.”These conditions address our primary concerns regarding space safety and interference, and we appreciate the Commission’s work to maintain a safe and competitive environment in low earth orbit,” Amazon said.More broadly, the FCC denied the claims from other companies of signal interference in its approval of SpaceX’s modification.”We further conclude that this modification does not create significant interference problems that would warrant treatment of SpaceX’s system as if it were filed in a later processing round,” the FCC wrote.The FCC’s order requires that SpaceX issue a report twice a year that includes the number of Starlink conjunction events – meaning near misses with other satellites – in the past six months, as well as the number of Starlink satellites that were disposed of or re-entered the Earth’s atmosphere. More

In this article.SPXCNBC’s Jim Cramer on Tuesday revealed how he’s approaching the market, should stocks run into a volatile period in the near future.Reacting to analysis from Carolyn Boroden, a technician who runs FibonacciQueen.com and contributes to RealMoney.com, Cramer offered a strategy to weather a sell-off in the current environment.If the S&P 500 is due for a short-term downtrend, Cramer recommended that the average investor hold on and ride it out. As for those looking to trade out and back into their holdings, he broke down Boroden’s sell trigger.”Watch the S&P … 5-day (blue line) exponential moving average and its 13-day, red line, exponential moving average,” Cramer said on “Mad Money.” “If the 5-day crosses below the 13, indicating that’s momentum turned against you, it’s also your cue to get out of Dodge.”Zoom In IconArrows pointing outwards”Personally, I like to split the difference: sell part of your position, perhaps, but keep something on the table, and that’s what we’re doing with my charitable trust,” he added. “The trust’s selling some, but not all.”While discussing chart insight and Fibonacci timing cycles from Boroden, Cramer considered that the market has climbed well past two price targets she set at 4,012 and 4,090. A temporary pullback in the S&P 500, which hasn’t traded under 4,100 in nearly three weeks, “wouldn’t surprise me one bit,” he said.According to Boroden’s forecast, the broad index could swoop to the old ceiling of resistance at 4,012, or down 4% from Tuesday’s close, he added. The next floor of support is around 3,725, which would represent an 11% decline.Last week the S&P 500 dipped 0.13%, snapping a winning streak that spanned four weeks.DisclaimerQuestions 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 articleSBUX.CRBQXStarbucks’ president and CEO Kevin Johnson speaks during a press conference in Shanghai on August 2, 2018.AFP | Getty ImagesStarbucks on Tuesday reported mixed quarterly results and raised its full-year forecast for earnings and revenue.While the company’s earnings topped Wall Street’s expectations, its revenue missed estimates, dragged down by some international markets’ slower recovery.Shares of the company dropped nearly 2% in extended trading.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 62 cents adjusted vs. 53 cents expectedRevenue: $6.7 billion vs. $6.8 billion expectedStarbucks reported fiscal second-quarter net income of $659.4 million, or 56 cents per share, up from $328.4 million, or 28 cents per share, a year earlier.Excluding items, the coffee chain earned 62 cents per share, topping the 53 cents per share expected by analysts surveyed by Refinitiv.Net sales rose 11% to $6.7 billion, missing expectations of $6.8 billion. Global same-store sales grew by 15% as the company lapped a decline of 10% from the year-ago period.U.S. same-store sales rose 9%, returning to pre-pandemic levels. A year ago, same-store sales in Starbucks’ home market fell 3% as lockdowns were implemented across the United States. This quarter, customers bought larger and more expensive coffees and added food to their orders, sending the average ticket up 21%. Traffic, however, is still down by 10%. Executives said they are seeing some labor shortages in certain markets, but it’s not a widespread issue.Outside the U.S., same-store sales rose 35% despite many European countries extending lockdowns.In China, Starbucks’ second-largest market, same-store sales surged 91% as it faced comparisons with last year’s 50% plummet during the same period. Transactions in China soared 93% in the quarter, but average ticket fell 1%. Starbucks executives said the company hadn’t anticipated restrictions related to the pandemic in China, including discouraging nonessential travel even during the Chinese New Year holiday.CEO Kevin Johnson told analysts that vaccination progress is key to predicting a market’s recovery. Starbucks is using its artificial intelligence technology to predict how inoculation rates will impact international sales growth.The company opened five net new cafes during the quarter. That includes the impact of closing roughly 300 locations in the U.S. and Canada, which it previously announced in June as part of a broader strategy to update its restaurant footprint.For all of fiscal 2021, Starbucks now expects to earn $2.65 to $2.75 per share, up from its prior range of $2.42 to $2.62 per share. It’s expecting earnings on an adjusted basis of $2.90 to $3 per share, up from its previous outlook of $2.70 to $2.90 per share. Analysts were expecting earnings per share of $2.85 for the fiscal year.The company also raised its full-year outlook for revenue to a range of $28.5 billion to $29.3 billion, up from a prior range of $28 billion to $29 billion. Wall Street was forecasting revenue of $28.6 billion. Fiscal 2021 includes a 53rd week, which Starbucks expects will add about $500 million in revenue.  More

In this articleDOWIBMABBVCVXKMITFor investors growing concerned that President Joe Biden will move to raise levies on investment gains, CNBC’s Jim Cramer on Tuesday offered a strategy to avoid the potentially higher tax geared toward the wealthy.”If you’re worried about Biden’s plan to raise taxes on capital gains but not dividend income, well that’s not a reason to sell everything,” the “Mad Money” host said. “It’s a reason to buy dividend stocks.”Biden could pitch the change, which would end the tax-favored status of capital gains for millionaires, as soon as this week. As reported, the proposal includes hiking the tax to 39.6% from 20%. The rate could hit 43.4% for the richest taxpayers.”If the capital gains rate goes up to 39.6% and the dividend rate stays the same at 20%, that instantly makes dividend stocks a heck of a lot more attractive,” Cramer said.”Biden’s plan would create a world where every dollar of dividend income is worth $1.32 of capital gains,” he added. “As long as lots of rich investors are worried about this tax hike, you have to expect that the investors who want to pay lower taxes will start swapping into dividend stocks.”Cramer endorsed the following 10 high-yielding stocks with the “best stories”:AT&T – 6.76% dividend yieldKinder Morgan – 6.35%Chevron – 5.02%AbbVie – 4.67%IBM – 4.59%Dow – 4.47%Simon Property Group – 4.25%Pfizer – 4.06%LyondellBasell Industries – 4%Crown Castle – 2.88%Disclosure: Cramer’s charitable trust owns shares of Crown Castle.DisclaimerQuestions 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 articleFBIt’s a challenging moment for traders to game the market with Wall Street in the throes of earnings season, CNBC’s Jim Cramer said Tuesday. “Welcome to the gauntlet, the 72-hour period where the bulk of the biggest companies report. It’s pure mayhem out there,” the “Mad Money” host said. “Stocks are flying all over the place. You’ve got lots of operators who aren’t investing, they aren’t even trading; they’re just gambling, and often gambling ends badly.”The comments come after household names like Microsoft, Google-parent Alphabet, Starbucks and Visa all posted quarterly results on the same day.Zoom In IconArrows pointing outwardsFor short-term investors looking to capitalize on surprises, Cramer revealed his guide to navigating the earnings gauntlet.”It’s far easier to invest in wrongfully convicted stocks that get knocked down because Wall Street misjudged their results,” he said. “The gauntlet just throws up a lot of buying opportunities, but you’ve got to know what to look for and you’ve got to use the checklist.”The major averages were relatively flat during Tuesday trading. The Dow Jones added 3 points to close at 33,984.93. The S&P 500 and Nasdaq Composite both closed slightly lower.DisclaimerQuestions 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

Brian Cornell, Chairman and Chief Executive Officer of the Target Corporation.Anjali Sundaram | CNBCWhen George Floyd was killed a year ago, Target CEO Brian Cornell said he was shaken by the murder. He was troubled it happened so close to the company’s headquarters in its hometown.For the retail chief, it felt personal.”That could have been one of my Target team members,” he said, recounting his thoughts as he watched the video of Floyd taking his final breaths.Cornell pulled back the curtain Tuesday on the Minneapolis-based retailer’s response to the murder and how it pushed him to step up the company’s own diversity and equity efforts. He spoke in a wide-ranging interview with former Ulta Beauty CEO Mary Dillon, which was hosted by the Economic Club of Chicago. The event, originally scheduled for last Tuesday, was postponed ahead of the verdict in the murder trial of former Minneapolis police officer Derek Chauvin on the same day. Chauvin was found guilty on all three charges in the murder of Floyd.As a young boy, Cornell grew up in a diverse neighborhood of Queens, New York, and was raised by a single mom. As an adult, he and his family lived in Asia and Europe. Those personal experiences inspired his respect for women as leaders and the importance of cultural diversity, he said.Yet he said Floyd’s murder stood apart and compelled him to do more.”I recognize that it’s time to take it to another level, and that as CEOs, we have to be the company’s head of diversity and inclusion,” he said. “We have to be the role models that drive change and our voice is important. And we’ve got to make sure that we represent our company principles, our values, our company purpose on the issues that are important to our teams.”Last May, in the days that immediately followed, Cornell said Target put together a special committee to look at steps the company could take to make its workforce, C-suite and business practices better reflect the country’s diversity. He said Target considered how it could support and provide advancement opportunities for Black employees, play a role in communities and “use our voice on a national level, as we impact civic discussions and policy.”Target is one of many companies that have pledged to do more to advance racial equity after Floyd’s murder prompted protests in major cities and across the globe. Among its commitments, the big-box retailer said it would increase representation of Black employees across its workforce by 20% over the next year. The company created a new program to help Black entrepreneurs develop, test and scale products to sell at mass retailers like Target. And it promised to spend more than $2 billion with Black-owned businesses by 2025, from construction companies that build or remodel stores to advertising firms that market its brand.Cornell touted the diversity of Target’s workforce of more than 350,000 employees, including its board and leadership team. Over half of its approximately 1,900 stores are led by female store directors and over a third are led by people of color, Cornell said.He said he wants the retailer to be a leader and was particularly aware last week during the trial’s verdict that “the eyes of America, and the eyes of the world were on Minneapolis.””For so many of us, we saw that verdict as a sign of progress, a sign of accountability, but also a recognition that the work is just starting,” he said. More