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MarketWatch MarketPulseAug 13, 2020
Coronavirus tally: Global cases of COVID-19 20.6 million, 749,656 deaths and U.S. death toll tops 166,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 20.6 million on Thursday, with the death toll rising to 749,656, according to data aggregated by Johns Hopkins University. At least 12.8 million people are confirmed to have recovered. The U.S. has by far the most cases at 5.19 million, and COVID-19-related deaths at 166,027. The U.S. has suffered 200,000 more deaths than usual since March, the New York Times reported, suggesting the true toll from the virus is higher than official numbers show. Brazil is second with 3.16 million cases and 104,201 deaths. India is third measured by cases that rose to 2.4 million, followed by Russia with 905,762 and South Africa with 568,919. Mexico has 498,380 cases and 54,666 deaths, the third highest in the world. India now has 47,033 deaths, putting it ahead of The U.K. That country has 315,581 cases and 46,791 fatalities, the highest in Europe and fifth highest in the world. China, where the illness was first reported late last year, has 89,045 cases, and 4,697 fatalities

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.



MarketWatchAug 13, 2020
NewsWatch: Stock-index futures pare losses as jobless claims fall below 1 million
Stock-index futures erase a small decline, edging higher after a drop in first-time jobless claims below 1 million last week.

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MarketWatch MarketPulseAug 13, 2020
Novavax's stock surges after supply deal with South Korea's SK Group for COVID-19 vaccine candidate
Shares of Novavax Inc. rallied 2.8% in premarket trading Thursday, after the biotechnology company said it has entered into a development and supply agreement with South Korea-based SK Group subsidiary SK Bioscience for the antigen component of Novavax's COVID-19 vaccine candidate, NVX-CoV2373. The companies have also signed a letter of intent with the Republic of Korea's Ministry of Health and Welfare to make NVX-CoV2373 available in South Korea, as well as for the global market. Under terms of the agreement, SK Bioscience will make the vaccine antigen component during the pandemic period. Phase 1 data of Phase 1/2 clinical trial showed that NVX-CoV2373 was well tolerated and generated a "robust" antibody response. Novavax's stock has more than tripled (up 205.9%) over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has gained 3.3% and the S&P 500 has advanced 19.9%.

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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U.K. trade negotiator seeking E.U. deal like Canada's and targets September for a deal (MarketWatch MarketPulse)

CNBC BusinessAug 13, 2020
Stocks making the biggest moves premarket: Tapestry, 3M, Apple
These are the stocks posting the largest moves before the bell.

Yahoo BusinessAug 13, 2020
Stock market news live updates: Stock futures drift, pausing after rally sends S&P 500 to record
The S&P 500 briefly topped its February record closing high during Wednesday's regular session.


MarketWatch MarketPulseAug 13, 2020
Peloton's stock falls toward 6th-straight loss after report of coming competition from Apple
Shares of Peloton Interactive Inc. dropped 4.0% in premarket trading Thursday, putting them on track for a sixth-straight loss, amid concerns that the at-home fitness company could face competition from Apple Inc. Bloomberg reported, citing people with knowledge of the effort, that Apple was developing a new subscription for virtual fitness classes, which would rival the virtual classes offered by Peloton and Nike Inc. Shares of Nike slipped 0.2% ahead of the open, while Apple's stock gained 0.4%. Peloton shares have more than doubled (up 126.6%) year to date through Wednesday, while Apple 's stock has rallied 53.9% and the Dow Jones Industrial Average has slipped 2.0%.

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.



MarketWatch MarketPulseAug 13, 2020
Roper Technologies to buy Vertafore for $5.35 billion in cash
Roper Technologies Inc. announced Thursday a deal to buy Vertafore in a cash deal valued at $5.35 billion. Roper expects to fund the acquisition, which is expected to close in the third quarter, with cash on hand, new debt and by drawing on its revolving credit facility. Vertafore provides software-as-a-service for the property and casualty insurance industry. Roper expects Vertafore to contribute $590 million of revenue in 2021. "Vertafore is a fantastic business characterized by clear leadership in its niche market, a strong management team, high customer retention, and a long track record of consistent revenue and cash flow growth," said Roper Chief Executive Neil Hunn. Roper's stock, which was still inactive in premarket trading, has rallied 26.1% year to date, while the S&P 500 has gained 4.6%.

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.



MarketWatch MarketPulseAug 13, 2020
AMC plans Aug. 20 event celebrating 100 years in business with 1920 admission price of 15 cents a ticket
AMC Entertainment Holdings Inc. shares soared 7% in premarket trade Thursday, after the biggest cinema chain operator in the U.S. said it plans to reopen its doors on Aug. 20 to celebrate 100 years in business with plans to charge the 1920 price of 15 cents a ticket. The company was founded in 1920 with a theatre at 12th Street and Grand Boulevard in Kansas City, Missouri, according to a statement. "One hundred years later, as AMC reopens its doors to U.S. moviegoers for the first time in more than five months, AMC is celebrating its history with a throwback to the year it all started by offering "Movies in 2020 at 1920 Prices," said the statement. Because of the pandemic, capacity will be significantly reduced to achieve social distancing. The company is expecting to open about two thirds of its more than 600 cinemas in the U.S. in time for the Sept. 3 release of Warner Bros. "Tenet," following the Aug. 28 release of "The New Mutants." The remaining cinemas will reopen as soon as state and local officials allow. The Aug. 20 event will be followed by other promotions that will include bringing back films including "Black Panther," "Back to the Future," "Ghostbusters", "Grease" and "Star Wars: Episode V - The Empire Strikes Back" at an admission price of $5. AMC shares have fallen 36% in the year to date, while the S&P 500 has gained 4.6%.

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.



MarketWatch MarketPulseAug 13, 2020
Tapestry shares jump premarket after narrower-than-expected loss and sales beat
Tapestry Inc. shares jumped 2.9% in premarket trade Thursday, after the parent of the Coach, Kate Spade and Stuart Weitzman brands posted a smaller-than-expected loss and better-than-expected sales for its fiscal fourth quarter. The company swung to a loss of $294 million, or $1.06 a share, in the quarter to June 27, after income of $149 million, or 51 cents a share, in the year-earlier period. The company's adjusted per-share loss came to 25 cents, better than the 56 cents loss per share consensus of FactSet analysts. Sales fell to $715 million from $1.51 billion, but were also ahead of the $670 million FactSet consensus. "While the backdrop remains volatile, it has not changed our long-term objectives," Interim CEO Joanne Crevoiserat said in a statement. "Rather, it has been a catalyst to accelerate our strategic agenda. Through our Acceleration Program, we are transforming into a world-class consumer centric organization that is more agile and data-driven with a digital-first mindset." The company returned to positive growth in Mainland China in the quarter and reopened the majority of its directly owned stores. It ended the quarter with $1.4 billion in cash, including $700 million from a revolving credit facility. The company expects to return to topline growth in the second half of fiscal 2021 and to achieve bottom line growth in fiscal 2021, 2022 and 2023. Shares have fallen 42% in the year to date, while the S&P 500 as gained 4.6%.

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.



Yahoo BusinessAug 13, 2020
Deutsche Bank Cuts Micron To Hold Amid Lower Memory Pricing Bet
Deutsche Bank downgraded Micron to Hold from Buy amid expectations for lower memory pricing due to supply-demand mismatch. Meanwhile, Deutsche left the stock's price target unchanged at $48 (1% downside potential).Deutsche Bank analyst Sidney Ho wrote in a note to investors on Wednesday that he expects "consensus estimates" for Micron (MU) to "come down sharply from current levels." Ho stated that "his extensive checks with the supply chain following Western Digital's (WDC) recent lackluster guidance left him feeling more negative on the supply-demand balance for the memory sector in the next several quarters. The added that, "Inventory build-up at cloud data center customers looks worse than he had anticipated, while demand from other end markets is weakening."Micron has been benefiting from stellar memory chip demand from data center operators as coronavirus-led remote working and online learning necessity has spurred demand for cloud storage. In the last reported quarter, the company's revenues increased by 13.6% to $5.32 billion year-over-year and beat analysts' expectations of $5.31 billion.Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 16 Buys, 8 Holds, and 1 Sell. The average price target of $64.29 implies upside potential of about 33%. (See MU stock analysis on TipRanks).Related Links: Despite Lowering Estimates, Micron Is Still a Sound Investment, Says 5-Star Analyst Upcoming Tailwinds Will Push Micron Stock Forward, Sa

MarketWatch MarketPulseAug 13, 2020
3M's stock rallies after July sees 'broad-based improvement' in sales trends
Shares of 3M Co. rallied 1.4% in premarket trading Thursday, after the maker of personal safety, industrial and consumer products said it saw "broad-based improvement" in sales trends in July. The company said total sales for the month increased 6% to $2.8 billion. Among its business segments, sales increased 29% in health care, 9% in consumer and 6% in safety and industrial, while transportation and electronics sales fell 7%. The monthly update comes after 3M reported in late-July total second-quarter sales that fell 12.2% to miss analyst expectations. 3M has been reporting monthly sales to provide transparency, while the company is unable to provide financial guidance given the uncertainties resulting from the COVID-19 pandemic. The stock has slipped 6.9% year to date through Wednesday, while the Dow Jones Industrial Average has eased 2.0%.

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.



MarketWatchAug 13, 2020
Europe Markets: European stocks slip ahead of U.S. jobless claims data as stimulus doubts mount
European stocks edged lower early on Thursday, as trade disputes were thrown back into the spotlight and investors awaited U.S. jobless claims data.

Google Market NewsAug 13, 2020
Japan stocks surge, dollar sags as investors see 'glass half full' - Investing.com
Japan stocks surge, dollar sags as investors see 'glass half full'  Investing.comGlobal Stock Rally Builds in Asia; Dollar Slips: Markets Wrap  BloombergJapan stocks surge, dollar sags as investors see 'glass half full'  ReutersDollar weakens as U.S. stimulus impasse undermines  CNBCAsian stocks slip as U.S. sti

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