Amanda Gorman Seizes Significance Of The Times In 'The Hill We Climb'

Benzinga - 20min

Joining the ranks of Robert Frost and Maya Angelou, 22-year-old Amanda Gorman faced the extraordinary yet daunting opportunity of performing her poem to a heavily divided nation at President Joe Biden's inauguration Wednesday.

Why Plug Power's Stock Is Trading Lower Today

Benzinga - 27min

Plug Power (NASDAQ: PLUG) shares are trading lower Wednesday after short seller Kerrisdale Capital Management tweeted its case against the stock.

Why Gun Stocks Are Trading Lower Today

Benzinga - 29min

The shares of gun makers are trading lower as a Biden presidency could mean more restrictive firearm legislation.

Obalon Therapeutics stock soars to lead all gainers on massive volume after ReShape merger deal

MarketWatch - 30min

Shares of Obalon Therapeutics Inc. blasted six-fold higher on massive volume in afternoon trading Wednesday, after the weight loss technologies company announced an agreement to merge with weight loss solutions company ReShape Lifesciences Inc. . Obalon's stock rose 503.4% toward the highest close since JUne 2019, while trading volume soared to 395.4 million shares, compared with the full-day average of about 626,000 shares. The stock was the biggest gainer and most active on major U.S. exchanges on Wednesday. ReShape shares, which currently trade over the counter, rose 155%. When the merger is completed, ReShape shareholders will own 51% of the combined entity, and the company will be renamed Reshape Lifesciences Inc. and will trade on the Nasdaq under the ticker symbol "RSLS." "We are excited with this opportunity to add Obalon's FDA approved Balloon System to ReShape's line of minimally invasive weight-loss solutions while also expanding our market reach," said ReShape Chief Executive Bart Bandy. Obalon's stock has now rocketed 922.5% over the past three months while ReShape shares have soared 187.3% and the S&P 500 has gained 12.0%.

Mid-Afternoon Market Update: Nasdaq Jumps Over 2%; Gevo Shares Plunge

Benzinga - 36min

Toward the end of trading Wednesday, the Dow traded up 0.78% to 31,171.52 while the NASDAQ rose 2.15% to 13,480.60. The S&P also rose, gaining 1.5% to 3,855.76.

Oil futures end higher as prospects for further economic stimulus boost the outlook for demand

MarketWatch - 39min

Oil futures finish higher on Wednesday, with prospects for further economic stimulus under President Joe Biden boosting the outlook for energy demand. "The oil market seems unfazed with all the new virus variants and lockdown headlines" and instead focused on "Biden's agenda that should help defeat COVID a lot sooner and support large parts of the economy until crude demand recovers," said Edward Moya, senior market analyst at Oanda, in a market update. February West Texas Intermediate crude , which expired at the end of day's session, rose 26 cents, or 0.5%, to settle at $53.24 a barrel on the New York Mercantile Exchange. March WTI crude , the new front-month contract, settled at $53.31 a barrel, up 33 cents, or 0.6%.

BlackBerry's stock soars toward a record 4-day rally, and highest close in nearly 3 years

MarketWatch - 41min

The U.S.-listed shares of BlackBerry Ltd. surged 4.4% toward a near three-year high in afternoon trading Wednesday, to extend the record rally over the past several days. The Canada-based cyber-security software company's stock has been on a tear over the past week, after The Global and Mail reported that the company, which made BlackBerry cellphones in a past life, had sold 90 patents to China-based technology giant Huawei, and after the company reportedly settled a patent infringement lawsuit against Facebook Inc. . The stock, on track to close at the highest price since March 2018, has soared 73.3% amid a four-day win streak. That's would be the best four-day performance for the stock since it started trading in February 1999, according to a MarketWatch analysis of FactSet data; the current record four-day rally is 65.7%, set over the four sessions ended June 2, 2000. The stock has now rocketed 153.7% over the past three months, while ETFMG Prime Cyber Security ETF has climbed 26.0% and the S&P 500 has gained 12.0%.

Mobileye CEO Says Tesla's Self Driving Effort Likely To Hit 'Glass Ceiling'

Benzinga - 46min

Tesla Inc (NASDAQ: TSLA) is working to develop level five self-driving cars.

Restaurants Get Sales Lift From Latest Stimulus Checks

WSJ USBusiness - 48min

Restaurants including McDonald’s, Church’s Chicken, Checkers and TGI Friday are getting a sales bump as consumers receive the latest stimulus checks, but sales patterns show the boost can be fleeting.

4 Reasons To Like Penn National: Cost Savings, Sports Betting Margins And More

Benzinga - 1hr

Ahead of the rollout of Barstool Sportsbook in Michigan, this casino gaming stock just got a new bullish initiation.

Gold futures settle at a nearly 2-week high

MarketWatch - 2hr

Gold futures ended Wednesday at their highest in nearly two weeks. "Precious metals were supported above all by a weaker U.S. dollar, which fell further on the back of renewed strength for stock markets," with U.S. benchmark stock indexes climbing to new records amid "ongoing reflation trade," said Fawad Razaqzada, market analyst at ThinkMarkets. This pushed foreign exchange investors into foreign currencies, as well as gold and silver, he said. The ICE U.S. Dollar Index was little changed in Wednesday dealings, but traded lower for the week so far. February gold rose $26.30, or 1.4%, to settle at $1,866.50 an ounce. That was the highest most-active contract finish since Jan. 7, according to FactSet data.

Joe Biden Addresses America On Inauguration Day: 'We Must End This Uncivil War'

Benzinga - 2hr

President Joe Biden and now-former President Donald Trump delivered separate remarks on Wednesday, and the SPDR S&P 500 ETF Trust (NYSE: SPY) traded higher by 1.2% as the transition of power proceeded smoothly in Washington.

Inflation-Protected Treasury Yields Hold Near Record Lows

WSJ Markets - 2hr

Investors are hanging on to bonds that protect against inflation even as they sell other U.S. government debt, a sign many trust the Fed to hold rates steady even if the economy picks up steam.

Mid-Day Market Update: Obalon Therapeutics Jumps On Merger News; Document Security Systems Shares Slide

Benzinga - 2hr

Midway through trading Wednesday, the Dow traded up 0.49% to 31,083.43 while the NASDAQ rose 1.71% to 13,422.25. The S&P also rose, gaining 1.04% to 3,838.39.

Stocks Rise Amid Big Earnings Day

WSJ Markets - 2hr

U.S. share benchmarks gained amid a busy day of earnings reports, with results from Morgan Stanley and Procter & Gamble, among others.

Why Estee Lauder's Stock Trading Higher Today

Benzinga - 2hr

Estee Lauder Companies Inc (NYSE: EL) shares are moving Wednesday after Bernstein initiated coverage on the stock with an Outperform rating and a price target of $311 per share.

Jim Chanos Changes Short Position In Tesla

Benzinga - 2hr

On CNBC's "Fast Money Halftime Report," Jim Chanos said he transformed his Tesla Inc (NASDAQ: TSLA) short position into a put position.

Morgan Stanley Upgrades Sally Beauty And Williams-Sonoma, Downgrades 4 Others

Benzinga - 2hr

Morgan Stanley analysts revisited the entire Hardline, Broadline, and Food retail category with two upgrades and four downgrades. The Retail Analyst: Simeon Gutman upgraded:

GameStop's stock drops, ahead of short seller's livestream on 5 reasons to sell

MarketWatch - 2hr

Shares of GameStop Corp. dropped 2.2% in afternoon trading Wednesday, after well-known short seller Citron Research said it will livestream a bearish call on the video game seller, after the recent rocket ride. The livestream, which was originally scheduled for 11:30 a.m. ET on Wednesday, was rescheduled to Thursday so as not to interfere with "a historic presidential inauguration." The stock has run up 104.4% just this month, after the company reached an agreement with an activist investor on a board shake up and reported strong holiday sales, which some believe fueled the squeezing out of bearish bets. Citron said it will give five reasons why buyers of GameStop's stock at current levels "are the suckers at this poker game." Citron said it believes the stock will fall "fast" back to $20. The stock has nearly tripled (up 177.8%) over the past three months, while the S&P 500 has gained 11.8%.

Russian Gold Miner Nordgold Aims to List in $5 Billion London IPO

WSJ USBusiness - 2hr

The company is looking to list as early as this summer, capitalizing on the precious metal’s long price run to become the largest mining company to float globally in at least five years.

Russian Gold Miner Nordgold Aims to List in $5 Billion London IPO

WSJ Markets - 2hr

The company is looking to list as early as this summer, capitalizing on the precious metal’s long price run to become the largest mining company to float globally in at least five years.

PreMarket Prep Stock Of The Day: Procter & Gamble

Benzinga - 2hr

Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.

Obalon Surges 470% On ReShape Lifesciences Merger Agreement

Benzinga - 3hr

Obalon Therapeutics Inc (NASDAQ: OBLN) shares are trading higher Wednesday after the company announced a merger agreement with ReShape Lifesciences.

Why Alibaba's Stock Is Trading Higher Today

Benzinga - 3hr

Alibaba Group Holding (NYSE: BABA) shares are trading higher Wednesday after founder Jack Ma made his first public appearance in months.

Why it's Best to Have More than a Friend Help You Through Your Financial Resolutions

Benzinga - 3hr

It's best to have a friend to help you weather anything — including New Year's resolutions. But beyond "Will you work out with me?" (dang it, Quarantine 15!) you may need more than a friend to help you through your finances.

Netflix results boosts communications ETFs

MarketWatch - 3hr

Communications-services exchange-traded funds, with big exposures to Netflix Inc. jumped on Wednesday after the streaming provider reported a big beat on earnings, sending its shares up nearly 16%. The Communication Services Select Sector SPDR fund , with a 4.5% Netflix weighting, was the biggest gainer among the 11 funds tracking sectors of the S&P 500, up 2.7%. The iShares Global Communication Services ETF , with 4.5% of its portfolio in Netflix shares, was up 2.5% midday. The First Trust Dow Jones Internet Index Fund , which has 4.6% allocated to Netflix, gained more than 2.1%.

Jay-Z to Boost Minority-Owned Cannabis Businesses

WSJ USBusiness - 3hr

The rapper is creating a $10 million fund to invest in startups, saying people of color have missed out on the marijuana boom.

Stock market near session highs in record territory Wednesday midday as Biden emphasizes unity in inaugural address

MarketWatch - 3hr

U.S. stocks on Wednesday midday were trading at or near their best levels of the session as Joe Biden was sworn in as the 46th president of the U.S. and Kamala Harris was sworn in as vice president, the first woman to hold that role. "I will be a president for all Americans," Biden said in his inaugural address. "And I promise that I will fight as hard for those who did not support me," as for those who did, he said. The Dow Jones Industrial Average was trading up 215 points, or 0.7%, at 31,147, in record territory. The S&P 500 index was up 1.2% at near a record at 3,844, while the Nasdaq Composite Index surged 1.8% at 13,428, trading near its all-time peak. Biden's presidency comes amid a historic pandemic that has claimed more than 400,000 U.S. lives.

Bank of New York Mellon's stock drops to lead S&P 500 losers after profit miss

MarketWatch - 3hr

Shares of Bank of New York Mellon Corp. dropped 7.0% in midday trading Wednesday, enough to pace the S&P 500's decliners, after the bank reported fourth-quarter profit that fell more than forecast as continued low interest rates hurt results. The stock was on track for the biggest one-day loss since March 16, 2020, when it plunged 14.5% as the COVID-19 pandemic weighed. The bank reported net income that fell to $702 million, or 79 cents a share, from $876 million, or 98 cents a share, in the year-ago period, missing the consensus analyst EPS estimate of 88 cents, according to FactSet. The bank said the results included $159 million, or 18 cents a share, in litigation, severance, losses on business sales and real estate charges, and a $460 million, or 50 cents a share, gain on the sale of an equity investment. Chief Executive Todd Gibbons said he expects low interest rates will be "a significant headwind" in 2021. The stock has advanced 14.9% over the past three months, while the SPDR Financial Select Sector ETF has rallied 24.3% and the S&P 500 has gained 11.6%.

Sixth Street Partners to Acquire Life Insurance Business Talcott Resolution for $2 Billion

WSJ Markets - 3hr

The agreement is the latest ownership change in a decade of frenzied industrywide life-insurance deal activity.

Morgan Stanley Profit Shoots Higher, Fueled by Wall Street

WSJ Markets - 4hr

The bank’s fourth-quarter profit rose 51% from a year earlier, another big U.S. lender to emerge from a turbulent year in better shape than was expected at the onset of the pandemic.

Procter & Gamble Gets Shoppers to Pay Up

WSJ USBusiness - 4hr

The company’s sales surged in the most recent quarter, fueled in part by demand for high-end household products from pricey dish soap to a $300 electric toothbrush.

DraftKings stock rallies after Morgan Stanley turns bullish

MarketWatch - 4hr

Shares of DraftKings Inc. rallied 2.2% in morning trading Wednesday, after Morgan Stanley analyst Thomas Allen turned bullish on the online sports betting company, citing a much bigger than expected total available market (TAM) for the iGaming industry. Allen said sports betting and iGaming revenue reached $3 billion in 2020, well above his forecast of $2 billion, with the strength of iGaming extending well beyond casino closures resulting from the COVID-19 pandemic. That suggests acquired customers will continue to make bets, leading to sports betting revenue that beats fourth-quarter expectations despite a weaker sports calendar, he said. Allen raised his rating on DraftKings to overweight, and boosted his price target to $60 from $39. He expects DraftKings' fourth-quarter revenue to beat Wall Street expectations by about 10%, and expects revenue from 2022 through 2025 to be more than 25% above current consensus. "We also expect [DraftKings] to start to talk about profitability in NJ, as FanDuel did, countering the beat thesis that the industry will never be profitable," Allen wrote in a note to clients. The company is projected to report fourth-quarter results in late February, with the FactSet revenue consensus at $231.8 million. The stock has climbed 23.2% over the past three months, while the S&P 500 has gained 11.6%.

UnitedHealth's Profit Slips as Health-Care Visits Return

WSJ USBusiness - 5hr

Fourth-quarter revenue climbed to $65.47 billion, up from $60.9 billion in the same quarter a year earlier. Costs also rose.

P&G Has Topped Out for Now

WSJ Markets - 5hr

The consumer-products giant turned in another great quarter, but a rich valuation and the fact that its shares aren’t likely to shine in a pandemic recovery are holding it back.

Australians Can't Get Home, but Tennis Players Fly in From Covid-19 Hot Spots

WSJ World - 5hr

The athletes arrived as the country reduced the number of international arrivals allowed.

Large explosion rocks central Madrid

MarketWatch - 6hr

MADRID (MarketWatch) - Sirens blared in central Madrid on Wednesday afternoon after a large explosion, which appears to have destroyed at least one building. The blast occurred on Calle Toledo, near Puerta de Toledo, according to Spanish television. News reports said the blast may have occurred at a church, which is near a school and a residence for the elderly. There is no confirmation yet on how many have been injured, but ambulances were lining the area as neighbors were being evacuated.

Biden Will Lead an Older, Polarized and Financially Insecure Nation

WSJ USBusiness - 6hr

The U.S. has a weaker economy, shorter life expectancy and voters who have moved toward the edges of both parties.

Stocks open higher ahead of Biden inauguration; Netflix shares soar

MarketWatch - 6hr

Stocks opened higher Wednesday, ahead of the inauguration of President-elect Joe Biden at noon Eastern, as investors remained optimistic over prospects for a round of aggressive fiscal spending to help the economy recover from the COVID-19 pandemic. The Dow Jones Industrial Average as up 100 points, or 0.3%, at 310,031, while the S&P 500 gained around 0.6% to trade at 3,822. The Nasdaq Composite hit an intraday record and remained up 1% at 13,333. Shares of Netflix Inc. jumped more than 12% after the video-streaming giant late Tuesday reported blowout fourth-quarter subscriber figures.

Netflix stock soars toward best 1-day post-earnings gain in over 4 years

MarketWatch - 6hr

Shares of Netflix Inc. soared 14.2% in premarket trading Wednesday, putting them on track to open in record territory, after the video streaming giant reported after the previous session's close blowout fourth-quarter subscriber numbers, while profit missed expectations. If the stock holds its early gain through the close, it would mark the best one-day post-earnings performance since it reported third-quarter 2016 results on Oct. 18, 2016, when the stock rose 19.0%, according to FactSet data. Netflix results have usually disappointed investors, as the stock had declined the day after the past four quarterly results, and after seven of the past eight results. Over the past 20 quarters, the stock rose the day after earnings just seven times. The stock is headed for an open well above the Sept. 1, 2020 record close of $556.55, but below the all-time intraday high of $575.37 seen on July 13, 2020. It has slipped 4.5% over the past three months through Tuesday, while the S&P 500 has gained 10.3%.

China Bids Good Riddance to Trump

WSJ World - 6hr

In the final hours of President Trump’s term in office, China’s official news agency declared “Good Riddance, Donald Trump” on Twitter, and a Chinese foreign ministry spokeswoman derided the departing U.S. secretary of state, Mike Pompeo, as a source of entertainment for China.

Netflix, Gevo, Morgan Stanley: What to Watch When the Stock Market Opens Today

WSJ Markets - 6hr

Earnings season continues apace as the White House changes hands.

Marriott Vacations provides preview of fourth-quarter results, with VPG rising as tours dropped

MarketWatch - 7hr

Marriott Vacations Worldwide Corp. provided Wednesday a preliminary look at fourth-quarter results, saying volume per guest (VPG) increased 9% from a year ago while tours declined 59% amid the COVID-19 pandemic. Contract sales for vacation ownership rose to $178 million, a 25% increase from the sequential third quarter; the average estimate, of the two analysts who provided estimates to FactSet, was $177 million ($173 million and $181 million). The vacation company said interval international exchange transactions for the quarter rose about 17% from a year ago, and the average revenue per member was down 4%. The company said it ended 2020 with about $1.3 billion in liquidity. The stock, which was still inactive in premarket trading, has run up 42.2% over the past three months while the S&P 500 has gained 10.3%.

Tyson Foods to pay $221.5 million to settle claims in broiler chicken antitrust litigation

MarketWatch - 7hr

Tyson Foods Inc. said Wednesday it has agreed to settle all class claims in its previously disclosed broiler chicken antitrust litigation and will pay an aggregate of $221.5 million in settlements. The settlements will be reflected in its first-quarter 2021 financial statements. Shares rose 1.6% in premarket trade, but are down 29% in the last 12 months, while the S&P 500 has gained 14%.

Mountain of Small Loans Looms Over Europe's Banks

WSJ Markets - 7hr

Banks have outsize exposure to small businesses, the backbone of the continent’s economy. If these businesses fail, pain awaits Europe’s already-stretched lenders.

Investor FOMO Is Selective for Luxury Brands

WSJ Markets - 7hr

Investors don’t want to miss out on the luxury sector’s next Gucci-style brand turnaround. Still, their strong preference for Prada over Burberry, both of which are in the middle of revamps, is a puzzle.

UPDATE: Bionano Genomics prices $200 million underwritten stock offering at a discount of $6 a share

MarketWatch - 7hr

Bionano Genomics Inc. priced a $200 million underwritten stock offering announced late Tuesday at a discount of $6 a share, selling 33.3 million shares. The stock closed Tuesday at an alltime high of $9.14. The genome sequencing company's shares have gained 662% in the last 12 months on little news flow, and trading volumes have been active in recent sessions. Bionano previously sold 29 million shares at $3.05 a share less than two weeks ago. The stock fell 22% in premarket trade to reflect the dilutive effect of the offering. Oppenheimer was sole bookrunner on the deal with BITG acting as lead manager and Ladenburg Thalmann and Maxim Group acting as co-managers. Underwriters have a 30-day option to purchase another 5 million shares at the offering price. Bionano shares traded for less than $1 for much of 2020, before prices shot higher just before the end of the year despite no public announcements about changes at the genome-analysis company, which lost nearly $30 million on sales of $4.5 million in the first nine months of 2020.

Morgan Stanley shares higher premarket after earnings beat

MarketWatch - 8hr

Morgan Stanley shares rose 2.2% in premarket trade Wednesday, after the bank blew past estimates for its fourth quarter. The bank said it had net income of $3.4 billion, or $1.81 a share, in the quarter, up from $2.2 billion, or $1.30 a share, in the year-earlier period. Revenue rose to $13.6 billion from $10.9 billion. The FactSet consensus was for EPS of $1.30 and revenue of $11.6 billion. The year-earlier numbers were impacted by the acquisition of ETrade, which was completed on Oct. 2, and is included in the wealth management segment, the bank said in a statement. Investment banking revenue rose 46% in the quarter to $7.004 billion, as higher advisory revenues for M&A and a more than doubling of equity underwriting revenue offset a decline in debt underwriting. Sales and trading revenues rose 32% from a year ago to $4.220 billion, boosted by gains in equity and fixed income trading. The bank's wealth management division delivered revenue of $5.7 billion, up from $4.6 billion a year ago. Net interest income rose to $1.207 billion from $1.033 billion. Investment management revenues fell to $1.1 billion from $1.4 billion a year ago. Shares have gained 30% in the last 12 months, while the S&P 500 has gained 14%.

Lilly signs cancer drug deal worth up to $1.6 billion

MarketWatch - 8hr

Shares of Eli Lilly & Co. gained 0.8% in premarket trading on Wednesday, the day after the drugmaker announced a deal worth up to $1.6 billion with Merus to develop three antibody therapies aimed at treating cancer. The Dutch company's stock was down 5.1% in premarket trading on Wednesday. The deal, which includes research and a licensing agreement, is designed to give Merus an upfront payment of $40 million, a $20 million equity investment, and up to $540 million in potential milestone payments. Over the last year, Lilly's stock has gained 42.2%, shares of Merus are up 45.5%, and the S&P 500 has rallied 14.5%.

Stocks Could Plunge Even if the Economy Booms

WSJ Markets - 8hr

If the stock market isn’t the economy, then, can we face a bear market even as the economy is expected to have a post-pandemic boom? Yes, but it would be rare.

What the Blue Wave Means for Green Goals

WSJ USBusiness - 8hr

A Democratic majority in both chambers of Congress, even with narrow margins, could open the door to some potentially transformative clean-energy policies.

What the Blue Wave Means for Green Goals

WSJ Markets - 8hr

A Democratic majority in both chambers of Congress, even with narrow margins, could open the door to some potentially transformative clean-energy policies.

Jack Ma, Alibaba's Co-Founder, Resurfaces After Months of Lying Low

WSJ USBusiness - 8hr

Jack Ma, the billionaire founder of China’s Alibaba and controlling shareholder of financial affiliate Ant Group, made a public appearance, his first since regulators began clamping down on his business empire.

Jack Ma, Alibaba's Co-Founder, Resurfaces After Months of Lying Low

WSJ Markets - 8hr

Jack Ma, the billionaire founder of China’s Alibaba and controlling shareholder of financial affiliate Ant Group, made a public appearance, his first since regulators began clamping down on his business empire.

Alibaba's stock jumps after Jack Ma makes first public appearance since October

MarketWatch - 9hr

Shares of Alibaba Group Holding Ltd. shot up 7.3% toward a more than 6-week high in premarket trading Wednesday, putting them on track for a fifth-straight gain, after co-founder Jack Ma made his first public appearance in nearly three months. The rally in the China-based internet giant's shares puts them on track to open at the highest price seen during regular-session hours since Dec. 4. A spokesperson for the Jack Ma Foundation confirmed to The Wall Street Journal that Ma participated in the online ceremony of the annual Rural Teacher Initiative event on Jan. 20. Ma hasn't been seen in public since Oct. 24, when Ma spoke at a financial forum and criticized regulators for stifling financial and technological innovation, as the WSJ reported. That led to regulators to derail Ant Group Co., which Ma controls, from going public. Since Ma's last public appearance through Tuesday, Alibaba's stock had dropped 18.8%, while the iShares MSCI China ETF rose 13.0% and the S&P 500 advanced 9.6%.

China Escalates Efforts to Beat Back Its Worst Covid-19 Resurgence

WSJ World - 9hr

Northern cities have built temporary quarantine facilities, imposed lockdown measures on millions of residents and rolled out mass testing.

Coronavirus tally: Global cases of COVID-19 top 96.2 million and U.S. has 401,777 fatalities

MarketWatch - 9hr

The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 96.2 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose above 2.05 million. The U.S. has the highest case tally in the world at 24.3 million and the highest death toll at 401,777, or about a fifth of the global total. The U.S. added at least 105,870 new cases on Tuesdayaccording to a New York Times tracker , and counted at least 2,770 deaths. The U.S. has averaged 20,117 new cases a day in the past week. Texas is emerging as a new hot spot alongside California, and hospitals in towns close to the Mexican border are reported to be filling fast. President-elect Joe Biden held a memorial service for American COVID victims late Tuesday with a light display at the reflecting pool at the Lincoln Memorial. Brazil has the second highest death toll at 211,491 and is third by cases at 8.6 million. India is second worldwide in cases with 10.6 million, and third in deaths at 152,718. Mexico has the fourth highest death toll at 142,832 and 13th highest case tally at 1.7 million. The U.K. has 3.5 million cases and 91,643 deaths, the highest in Europe and fifth highest in the world.

Hong Kong Stocks Swell as Market Eats Up Chinese Cash

WSJ Markets - 9hr

Hong Kong shares have surged to a 20-month high, and trading volumes have hit records, as investors from mainland China have jumped into the market in search of bargains and stocks not available back home.

UnitedHealth's stock rises, as profit fell less than forecast while revenue rose

MarketWatch - 9hr

Shares of UnitedHealth Group Inc. rose 1.0% in premarket trading Wednesday, after the health care services company reported a fourth-quarter profit that fell less than expected, while revenue rose above forecasts. Net income fell to $2.21 billion, or $2.30 a share, from $3.54 billion, or $3.68 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share declined to $2.52 from $3.90 but beat the FactSet consensus of $2.41. Revenue grew 7.5% to a record $65.47 billion, above the FactSet consensus of $64.99 billion. Premiums revenue grew 6.2% to $50.58 billion, but missed the FactSet consensus of $50.85 billion, while products revenue rose 14.0% to $8.69 billion to beat expectations of $8.38 billion and services revenue increased 10.2% to $5.75 billion to top forecasts of $5.34 billion. "Fourth quarter operating results reflect restoration of care patterns, the company's continued efforts to provide support and relief efforts to correct economic imbalances caused by the pandemic and additional reserves for rebates and related activity as calendar year assessments were concluded," the company said in a statement. UnitedHealth affirmed its full-year adjusted EPS guidance range of $17.75 to $18.25. The stock has rallied 8.9% over the past three months through Tuesday, while the Dow Jones Industrial Average has gained 9.3%.

5G's Huge Upfront Bill Will Come Due

WSJ USBusiness - 9hr

The spectrum auction will cost carriers about $95 billion, but the payoff is uncertain.

5G's Huge Upfront Bill Will Come Due

WSJ Markets - 9hr

The spectrum auction will cost carriers about $95 billion, but the payoff is uncertain.

How Covid-19 Vaccine Rollouts Will Pump Through Global Markets

WSJ Markets - 10hr

As more countries begin vaccinating their populations, the varied speed of the programs will have a significant impact across sectors and regions.

AstraZeneca Vaccine Speeds U.K. Effort to Reach Nursing Homes

WSJ World - 10hr

The homegrown vaccine, yet to be authorized elsewhere in the West, is playing a critical role in vaccinating the country’s most at-risk people because it is easier to ship, store and administer.

AstraZeneca Vaccine Speeds U.K. Effort to Reach Nursing Homes

WSJ USBusiness - 10hr

The homegrown vaccine, yet to be authorized elsewhere in the West, is playing a critical role in vaccinating the country’s most at-risk people because it is easier to ship, store and administer.

Americans Aren't Draining Their Retirement Funds in the Pandemic

WSJ Markets - 10hr

Workers affected by the pandemic continued to withdraw money from their retirement accounts in the final months of 2020. But, as happened earlier in the year, the increase was modest.

Commercial Real Estate Debt Sustained by Bond Buying

WSJ Markets - 10hr

Europe’s downtown office buildings are empty, and malls and main streets are deserted, yet the biggest landlords are staying afloat during the pandemic thanks to central-bank buying of bonds backed by property debt.

Wimkin Removed From Google Play

WSJ USBusiness - 18hr

The takedown follows the suspension of the small social-media network from Apple’s App Store last week, also for posts deemed to incite violence.

PPP Reopens With 60,000 Loans for Small Businesses

WSJ USBusiness - 20hr

The first wave of applications was largely handled by community and small lenders after the SBA set aside time for them to act exclusively.

Outgoing FCC Chief Says Government Laid Groundwork for Faster Networks

WSJ USBusiness - 20hr

Ajit Pai says he focused on fostering investment while maintaining independence. The departing official oversaw a collection of networks that grew bigger, faster and more varied over the past four years.

Netflix Tops 200 Million Subscribers for the First Time

WSJ USBusiness - 20hr

The streaming giant said it added 8.5 million subscribers in the fourth quarter, ending last year with an additional 37 million altogether.

Netflix Delivers a One-Two Punch

WSJ Markets - 21hr

The streaming giant tempered its subscriber outlook with a surprising cash flow projection.

Yellen Makes Case for Sweeping Stimulus Package

WSJ USBusiness - 22hr

Janet Yellen, President-elect Joe Biden’s choice for Treasury secretary, urged lawmakers in her confirmation hearing to think big to avert a protracted economic downturn and put aside concerns about the mounting national debt.

Stocks Rise on Hopes for More Stimulus

WSJ Markets - 23hr

U.S. stocks climbed as Janet Yellen endorsed higher coronavirus relief spending and some of the country’s biggest banks beat expectations for fourth-quarter earnings.

Bank of America Earnings Weighed Down by Low Rates

WSJ Markets - 23hr

The bank’s profit declined 22% in the fourth quarter as rock-bottom interest rates pose a challenge for lenders. Still, per-share earnings topped analyst estimates.

WHO Criticized for Poor Pandemic Response by International Panel

WSJ World - 1d

The World Health Organization was poorly prepared to prevent a disease like Covid-19 from becoming a pandemic and wasn’t adapted for a globalized era of easy travel and extensive trade, an international panel said.

Why Volkswagen's $50 Billion Plan to Beat Tesla Short-Circuited

WSJ USBusiness - 1d

Faulty software set back a bid by the world’s largest car maker for electric-vehicle dominance.

Europe, Struggling to Exit the Pandemic, Faces Bleak 2021

WSJ World - 1d

Covid-19 infections and deaths remain stubbornly high across much of Europe while vaccination efforts are moving so slowly that widespread immunity is unlikely in the region before the fall, raising the prospect of a bleak 2021.

China's Consumers Fall Behind Even as Its Economy Marches Forward

WSJ USBusiness - 1d

One thing is missing from China’s otherwise remarkable economic recovery: a strong rebound in consumer spending.

What's on Biden's Business and Economic To-Do List

WSJ USBusiness - 2d

Higher corporate tax rates, clean-energy initiatives and more will likely have to wait for Covid-19 stimulus.