Raphael Stevens

A healthcare worker prepares to inject an AstraZeneca coronavirus disease (COVID-19) vaccine.Eloisa LopezAstraZeneca issued updated Phase 3 trial data for its Covid-19 vaccine on Wednesday after facing criticism earlier this week over a preliminary report. The company now says its vaccine is 76% effective in protecting against symptomatic cases of virus. A release issued on Monday reported a symptomatic efficacy rate of 79%. The updated report maintains that the vaccine is 100% effective against severe disease and hospitalization. A slate of U.S. health officials criticized the company in recent days for what some saw as data cherry-picking in an effort to make the results appear more favorable. The National Institute of Allergy and Infectious Diseases on Tuesday revealed it was informed that the U.K.-based company may have included information in its U.S. results that provided an “incomplete view of the efficacy data.”Dr. Anthony Fauci, White House chief medical advisor and director at the NIAID, called the situation “unfortunate” and said it was likely AstraZeneca would issue a modified statement.”This is really what you call an unforced error because the fact is this is very likely a very good vaccine,” Fauci told ABC’s Robin Roberts on “Good Morning America.” “This kind of thing does … really cast some doubt about the vaccines and maybe contribute to the hesitancy. It was not necessary.”The updated results include data collected from 190 symptomatic cases, an increase of roughly 50 cases studied compared with the data set released on Monday. The findings suggest the vaccine is more effective in patients aged 65 and older than previously understood, with a newly reported efficacy rate of 85% for that population, up from a previously stated 80%. —CNBC’s Berkeley Lovelace Jr. and Steve Kopack contributed to this report. This is breaking news. Please check back for updates. More

Jason Kempin | Getty Images Entertainment | Getty ImagesThe furniture retailer RH, formerly Restoration Hardware, on Wednesday reported fourth-quarter earnings and sales that topped Wall Street estimates, as it continued to see robust demand for its high-end furniture and home wares.CEO Gary Friedman said the momentum is expected to continue into this year, too, with revenue forecast to grow between 15% and 20% year over year in 2021. That includes expected sales growth of at least 50% in the first quarter, he said, as the company laps a period when its brick-and-mortar stores were temporarily shut due to the Covid pandemic.”The fact that we have a booming housing market, a record stock market, low interest rates, the expectation of a rebound in the economy and jobs market, combined with the recent further acceleration in our demand trends, has us feeling more rather than less optimistic,” Friedman said in a letter to shareholders.RH shares shot up more than 9% in after-hours trading.Here’s how the company did for its quarter ended Jan. 30 compared with what was expected by analysts, which were polled by Refinitiv:Earnings per share: $5.07 vs. $4.76 expectedRevenue: $813 million vs. $798 million expectedIt reported net income of $130.19 million, or $4.31 per share, up from $68.43 million, or $2.66 per share, a year earlier. Excluding one-time charges, it earned $5.07 per share, better than the $4.76 expected by analysts.Net revenue grew to $812.44 million from $664.98 million a year earlier. Adjusting for cost of goods sold and inventory charges associated with product recalls, the company reported revenue of $812.62 million, topping the $798 million anticipated by analysts.In fiscal 2020, RH’s sales climbed 8% to $2.85 billion.”We are building the most comprehensive and compelling collection of luxury home furnishings in the world,” Friedman said. “The desirability and exclusivity of our product amplified in our inspiring spaces has enabled us to gain significant market share.”RH’s plans for growth in the coming years include expanding further into food, hospitality and even home building.The company is plotting a residential community in Aspen, Colorado. Friedman told analysts Wednesday that RH has already received multiple, unsolicited proposals to buy houses there, sight unseen.Later this fall, it will open its first-ever Guesthouse concept, in New York City. It’s taking its stores overseas to Europe, in England and Paris, next year.RH further expects that this year will be its biggest for product launches in the company’s history. It said it held back launching new home and outdoor collections in 2020 because of the pandemic. But it is mailing a catalog out to customers this week, with 10 new outdoor collections, it said, kicking off a massive rollout.RH shares are up more than 375% over the past 12 months, as of Wednesday’s market close. It has a market cap of $9.3 billion.Find the full press release from RH here. More

A 21,000-square-foot megahome in South Florida is the most expensive non-oceanfront home ever sold in Delray Beach, and its $19 million sale price makes it the the town’s top sale in over three years, according to the MLS.  “Resort-style living is a driving force in the ultra-luxury market,” listing agent Senada Adzem tells CNBC, “People are rethinking their way of living — their wants and needs — as a result of the pandemic.”Aerial view of The Rockybrook Estate in Delray Beach, FLDouglas EllimanThe property, known as the Rockybrook estate, was originally listed at $23.5 million in May in the middle of the pandemic.  Adzem says in its first month on the market the home could only be toured virtually due to Covid-19. The price was cut to just over $21.9 million before selling for $19 million earlier this month.According to the MLS, last year’s highest priced sale in Delray Beach was $17 million for 9200 Rockybrook Way, known as The Sundara estate. The 18,000 square-foot mansion was also represented by Adzem whose team closed over $200 million in sales volume during the pandemic, which was her team’s best year ever, according to the real estate brokerage firm Douglas Elliman.The Rockybrook estate, which is located right next door to Sundara at 9192 Rockybrook Way, is comprised of seven bedrooms and 14 baths situated on a 2.5-acre lot located in a private community called Stone Creek Ranch. The gated neighborhood has a total of 37 estates and it’s located about twenty miles south of Palm Beach and fifty miles north of MiamiHere’s what’s inside the record-breaking Delray Beach home:The foyer’s grand double staircaseDouglas EllimanThe foyer has 32-foot ceilings and a grand double-staircase in a style Adzem describes as,  “modern classicism with throwback glam.” The great roomDouglas EllimanThe great room walls are clad in white marble with inlayed stainless-steel laser cut into an arabesque design and polished to a mirror-like finish. The 32-foot wall-of-windows overlooking the backyard, Adzem says, are hurricane-proof.Rockybrook’s 250,000 gallon poolDouglas Elliman”The amenity-rich property includes a 250,000-gallon heated pool that recalls the Wynn Las Vegas, as well as a grotto, summer kitchen and tennis court,” Adzem tells CNBC.View of pool and gazebo with water fall featureDouglas EllimanThe backyard water-world includes fire features, waterfalls and a grand gazebo.Main kitchenDouglas EllimanThe home’s main kitchen has two massive white marble islands, two sinks, two dishwashers, two sub-zero refrigerators, two under counter Wolf ovens, and two more pairs of ovens built into a wall of custom cabinets.Chef’s kitchenDouglas EllimanSteps away from the main kitchen is an entirely separate chef’s kitchen.Owner’s suiteDouglas EllimanThe owner’s suite includes a kings-sized bed with a massive built-in leather upholstered headboard and glass doors that lead to a private terrace overlooking the home’s mega pool.Her bath with fireplace, hot tub and Amethyst accents.Douglas EllimanHer bath is covered in white marble and amethyst. The super-sized bathroom includes a fireplace and large crystal chandelier that hangs over the hot tub.His walk-in closetDouglas EllimanHis walk-in closet includes leather-clad drawers and illuminated shelves.Her closetDouglas EllimanHer closet has a glass-topped island for storing accessories, three crystal chandeliers and floor-to-ceiling shelves and wardrobes.One of three ensuite-bedrooms in the children’s wing.Douglas EllimanThe home’s “children’s wing,” as Adzem describes it, includes three ensuite-bedrooms,Lounge in the children’s wing.Douglas Ellimana lounge, living room, kitchenetteTwo-lane bowling alleyDouglas Ellimanand a two-lane bowling alley.Glass-encased wine roomDouglas EllimanThe wine storage room is a combination of glass and polished steel designed to create the illusion of wine bottles floating in midair.Dining roomDouglas EllimanThe dining room seats fourteen guests below a ceiling lined with mother of pearl.The bar in Rockybrook’s club lounge.Douglas EllimanThe home’s clubby lounge includes a bar flanked by two wine coolers, a wall covered in back-lit stone and over a dozen pendant lights hanging above a stone bar top.Salon treatment roomDouglas EllimanThere’s also a salon & treatment room.Cinema roomDouglas EllimanAnd a 20-person movie theatre with a retro-Hollywood theme. The reclining seats are clad in imported Italian leather and the surround sound system is seamlessly integrated into the back-lit walls.The sellers were Bradley Cohen, co-founder of Insurance Care Direct and Sandra Cohen, founder of Baciami Moda, the home’s buyer remains undisclosed. More

Money managers are locked into the reopening trade and retail investors ought to invest accordingly, CNBC’s Jim Cramer said Wednesday.”You need to use any opportunity to buy high-quality cyclicals into weakness,” the “Mad Money” host said.Cyclical stocks are those whose trading patterns tend to be levered to the business cycle and the state of the overall economy. Cramer highlighted railroad company Union Pacific, whose stock initially declined after news broke Sunday that its rival Kansas City Southern was being acquired by Canadian Pacific in a $25 billion deal. The shares have since recovered those losses and then some. Cramer called the transporter “a one-stop-shop for the great reopening.””If you knew the score, you could confidently buy [Union Pacific] into weakness because this market loves the reopening plays,” he said. “I bet it’s got a lot more room to run.”Cramer has spent weeks breaking down the market rotation, explaining that investors are trading out of last year’s lockdown winners, especially in the tech segment, and into companies whose businesses do better when the economy is growing.The major averages all declined during the trading day Wednesday, though stocks in the energy, industrial and financial parts of the market showed strength.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

CNBC’s Jim Cramer on Wednesday said there’s promise in GameStop’s turnaround story, though he thinks the company remains overvalued after its most recent quarterly report.”I’m much more of a believer than I was yesterday, but I also think you’re taking your life in your hands if you buy the stock up here,” the “Mad Money” host said. “Let it sink to the mid-double digits, then I’ll get back to you.”Shares of the embattled video game retailer tumbled 34% on Wednesday, one day after the company posted quarterly results that missed analyst estimates on the top and bottom lines.The company reported earnings per share of $1.34 for the quarter and revenue of $2.1 billion, a year-over-year decline of 3%. Analysts were expecting $1.35 and $2.2 billion, according to FactSet. Revenue was down 21% for the full fiscal year, which ended Jan. 30, as the company suffered losses amid Covid-19 business disruptions.Cramer said the results were “about as good as anyone could’ve reasonably expected,” though he said the stock could have rallied on the report had it been trading at $30 or less apiece, a fraction of its triple-digit share price.Cramer also faulted management for not providing guidance or offering details about GameStop’s transformation plan. The company has been reducing its store count and is expected to be working on a plan to boost its digital operations and compete in the internet age.”As long as it’s in the triple digits, it’s trading like the turnaround has already happened,” he said. “If you buy the stock here, you’re betting that Ryan Cohen’s plan will be wildly successful, which seems like a stretch given that we don’t even know what the plan is yet.”GameStop’s report was the first since Reddit traders engineered a January short squeeze in the stock. GameStop shares skyrocketed nearly 2,000% within a week.The stock closed Wednesday at $120.30, down 75% from its peak during the head-turning Reddit rally.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

Satellite imagery captured on March 23, 2021 shows the cargo container ship Ever Given blocking the Suez Canal in Egypt.Planet LabsSatellite imagery gives another perspective on the developing situation in Egypt’s Suez Canal, where a mega cargo container ship was turned sideways and became stuck, blocking the busy passageway.Imagery captured on Tuesday by a Planet Labs’ Dove satellite showed the stranded ship, called the Ever Given, in the canal.Cropped satellite imagery captured on March 23, 2021 shows the cargo container ship Ever Given blocking the Suez Canal in Egypt.Planet LabsThe Ever Given is about 1,300 feet long (or nearly a quarter mile) and 193 feet wide. The ship weighs about 220,000 tons and is capable of carrying as many as 20,000 containers.A synthetic aperture radar image captured by Capella Space on Wednesday gave another look at the Ever Given, showing how it was wedged into the wall of the canal. Capella CEO Payam Banazadeh noted that the ship’s blurriness in the image “is due to its movement on the water.””We took this image over 20+ seconds so you are seeing the ship movement during those 20 seconds,” Banazadeh wrote in an email to CNBC.The Ever Given, captured in a synthetic aperture radar satellite image.Capella SpaceSuez port agent GAC told Reuters that as of Wednesday morning, Ever Given had been partially refloated and moved against the bank of the canal.”The vessel remains aground as of this moment of time, but efforts to re-float her continue in close cooperation with the Suez Canal Authority,” a Bernhard Schulte Shipmanagement spokesperson told CNBC around 11:45 a.m. ET. The firm is the technical manager of Ever Given.The ship’s Taiwan-based operator Evergreen Marine Corp. said in a statement that the Ever Given ran aground after being overcome by strong wind as it entered the Suez Canal from the Red Sea. The operator noted that none of its containers had sunk.— CNBC’s Pippa Stevens, The Associated Press and Reuters contributed to this report. More