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 Once the pandemic lockdown lifted, Admiral Twin Drive-In had to figure out how to provide entertainment without many major new film releases.
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 The Centers for Disease Control and Prevention said Friday that Moderna Inc.'s COVID-19 vaccine produces an allergic reaction in a small percentage of people, similar to the agency's findings about the coronavirus vaccine developed by BioNTech SE and Pfizer Inc. . Moderna's stock was up 1.6% in premarket trading on Monday. There were 10 cases of anaphylaxis among the roughly 4 million doses administered between Dec. 21 and Jan. 10, according to the CDC report. Both vaccines are mRNA-based vaccines, with similar efficacy rates in clinical trials. They are the only two COVID-19 vaccines that have been authorized in the U.S. so far during the pandemic. The CDC previously recommended that health care providers prepare for the possibility of anaphylaxis among some people who get vaccinated. Moderna's stock has soared 520.3% over the past 12 months, while the S&P 500 is up 15.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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AMC Entertainment Holdings Inc. shares soared 36% in premarket trade Monday, after the biggest cinema-chain operator in the world said it has raised $917 million in debt and equity to help it get through a coronavirus-impacted winter. AMC said it has raised $506 million of equity by issuing 164.7 million new shares. That is combined with a previously announced $100 million of additional first-lien debt and the concurrent issuance of 22 million new common shares to convert $100 million of second-lien debt into equity. The company has commitment letters for $11 million of incremental debt capital in place through mid-2023, unless repaid before then, through the upsizing and refinancing of a European revolving credit facility. The company may pay non-cash PIK (payment in kind) interest through the duration of the European debt. "Based on a variety of assumptions, including future attendance levels, the company estimates that its financial runway has been extended deep into 2021," AMC said in a statement. "AMC also is presuming that it will continue to make progress in its ongoing dialogue with theatre landlords about the amounts and timing of owed theatre lease payments." Chief Executive Adam Aron said the new financing means any talk of imminent bankruptcy "is completely off the table." AMC has repeatedly raised capital through the pandemic to bolster its liquidity and stay afloat. Shares have fallen 48% in the last 12 months, while the S&P 500 has gained 16.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Deborah Birx said Trump was being given ‘parallel data' on covid-19 The Washington PostBirx says someone was giving Trump 'parallel data' about Covid pandemic CNBCFace The Nation: Dr. Deborah Birx Face the NationIn candid interview, Birx says she knew working with Trump White House would be the end of her federal career Yahoo News
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Anthony Fauci Says Trump Tried to Coax Him Into Minimizing COVID Pandemic: 'Be More Positive' NewsweekFauci says he was the 'skunk at the picnic' in Trump's Covid team The GuardianFauci opened envelope containing mystery powder during Trump admin - Business Insider Business InsiderDr. Anthony Fauci Relishes A 'Hallelujah' Moment : Coronavirus Updates NPR
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Despite some big-name flops, many managers profited from extreme volatility
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After scrambling in 2020 to keep business operations going amid a pandemic, companies are eyeing even higher spending in 2021 on collaboration tools to support remote workers. But with vaccines rolling out now and uncertainty about what a "hybrid workplace" might look like, those same companies are likely to spend cautiously due to uncertainty about the wider economic environment.
Even with vaccinations offering hope for something of a return to normal in the year ahead, remote work will remain a necessity for many organizations. More than half (54%) of respondents to a Pew survey published this month said they want to work from home "all or most of the time" when the coronavirus outbreak is over, while a third would do so "some of the time." Only 11% say they'd want to do this "rarely or never."
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