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Hey there, Bullets Fans –
Your Morning Bullets Brief Updates are here! And that means trivia is, too.
On this day in 1929, the Federal Reserve announced a new policy. What was the policy and why was it implemented?
Think you know the answer? You can check it in the closing area down below!
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The Dow Jones Industrial Average was slated for a 200-point open this morning, indicating there could be another positive day for the benchmark after last week’s poor performance.
However, GameStop, which garnered massive attention last week as retail investors forced a short squeeze, continued to plummet during premarket trading today. Shares slumped 40% this morning, after yesterday’s 30% dip. Last week, shares were going for $483 apiece at one point, but are now down to $133 each. Robinhood had to find $2.4 billion in order to keep up with the frenetic trading.
Pfizer also shared its latest financial data this morning, but shares remained steady as investors digested the mixed results (more on that below).
Meanwhile, Democrats in Congress are not wasting any time as they move ahead with reconciliation, which would allow President Joe Biden to pass his massive stimulus bill without GOP support.
And travelers will have to wear masks, or could face a fine, while using public transportation.
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This guy got tired of helping the rich get richer
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Pfizer reported this morning that they expect to make about $15 billion this year from their pandemic vaccine. Overall, they anticipate raking in somewhere between $59.4 and $61.4 billion in revenue.
The fourth quarter of 2020 performed 12% better than the fourth quarter of 2019, with revenue increasing from $10.44 billion to $11.68 billion.
Pfizer is also formulating a booster shot right now that would shield recipients from additional variants of the virus.
“As a company, we saw the culmination of Pfizer’s decade-long conversion into a pure-play, science and innovation-focused company. Right away, our ability to move quickly and utilize cutting-edge science to help address the world’s most important medical challenges was put to the test by the … pandemic,” the CEO said in a statement.
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