Moderna COVID sales projections drop: https://money.usnews.com/investing/news/articles/2023-08-03/moderna-sees-up-to-8-billion-in-2023-covid-vaccine-sales-on-private-market-hopes . The key piece of news in this article is that Moderna dropped its 2023 COVID vaccine sales to governments from $5 billion to $4 billion. The stock has hit new 52-week lows the first 3 days in August. MRNA’s share price was $126.70 on Friday, July 21. It was $109.95 today, a loss of over 13% in less than 2 weeks.
Gilead also sees COVID sales drop: https://money.usnews.com/investing/news/articles/2023-08-03/gilead-quarterly-profit-falls-on-covid-sales-drop-legal-settlement-charge .
WSJ: China strains US private equity firms: https://www.wsj.com/articles/china-has-become-a-strain-on-private-equity-firms-1fb40b80 . Apparently these firms did not properly consider the political risk inherent in these investments.
Bank of England raises interest rates another 25 basis points: https://apnews.com/article/bank-of-england-interest-rates-inflation-4bb63cad5f2287d9cc005af12ac281a0 .
WSJ: The Niger coup: https://www.wsj.com/articles/niger-coup-embassy-evacuation-africa-33d18bc . It certainly appears that the West was caught unprepared for these events.
WSJ: US to place armed military on commercial vessels transiting the Persian Gulf: https://www.wsj.com/articles/u-s-to-place-armed-sailors-marines-on-tankers-to-deter-iran-b27cc48 . This plan has escalation written all over it.
A summary of Orange Julius’ legal perils: https://news.yahoo.com/legal-expert-explains-why-trumps-jan-6-charges-are-different-from-his-past-2-indictments-212328585.html . This analysis is accurate, although it’s one lawyer’s opinion. My view is that both federal indictments are incredibly serious, and a shock in terms of our expectations of a public official, let alone a President. The Georgia case represents an active attempt to overthrow the results of a democratic election, and it will not play well in OJ’s re-election attempt.
Yes, OJ could be re-elected, but he’s not going to be under the current situation. He has no ability to grow the GOP base, and these trials will peel away almost all voters outside the GOP. The circumstances under which OJ could be re-elected: (1) Biden’s health fails, or (2) there is a significant third-party candidate. There is also the possibility that OJ is knocked out, either by (1) his health , or (2) his legal troubles overwhelm his campaign (right now this looks less and less likely).
“Understanding” the GOP “defense” of OJ: https://news.yahoo.com/the-gops-defense-of-trump-has-been-years-in-the-making-155310455.html . The writer is attempting to put a spit shine on a turd. In 10 years, the GOP has put forward a mishmash of conspiracy theories for which there is no evidence. They have used this to whip up anger among their voters, and made OJ the poster boy of the “wronged” hero who fights for them. OJ is no hero. He fights only for his own glorification. His political supporters do this to maintain their own positions. And no one in this self-created La-La Land will never admit how appallingly wrong they are and have been. Swell. More: https://www.rawstory.com/toddler-trump/ .
DeMentis’ “dumbing down” of Florida continues: https://www.politico.com/news/2023/08/03/ap-psychology-banned-in-florida-00109720 . High school students looking to advance rapidly and hold down the cost of college look to AP classes as a way to earn college credit before college. DeMentis is hurting the brightest and most motivated among us. WSJ: More: https://www.wsj.com/articles/college-board-says-florida-has-effectively-banned-its-ap-psychology-course-over-gender-identity-content-48db14a1 .
WSJ: Peggy Noonan reduced to babbling: https://www.wsj.com/articles/trumps-jan-6-trial-we-owe-it-to-history-indictment-president-election-crime-washington-5e643a14 . As Gerry Seib retired, Peggy Noonan is the only opinion columnist left at the Journal with even a moderate claim to respectability. While I almost never comment on the Journal’s opinion pieces, this one commemorates the passing of Peggy Noonan’s brain. Ms. Noonan thinks the focus of the indictment was OJ’s intent – was he lying about his belief that the election was stolen. Are you freaking kidding me? Beyond the obvious (OJ always lies), she does squeeze in Bill Barr to indirectly hit the key point – conspiracy is not about belief.
Apparently to maintain cred with WSJ readers, she now drags in Hunter Biden’s case as involving “newly substantial” legal issues. Like what? What evidence has been presented by anyone? And the coup-de-grace? Peggy states, “Hunter Biden is 53 … An age when adults are fully responsible for their actions.” PEGGY!!! That orange pile of flab that sells your newspaper is 77. Did you forget that is who you were writing about? Again, we bid farewell today to Peggy’s brain, and with it any shred of credibility.
Michael Jordan sells majority stake in Charlotte Hornets: https://sports.yahoo.com/michael-jordans-sale-majority-ownership-143653143.html . Jordan bought the team for $275 million in 2010. So with the franchise currently valued at $3 billion, Jordan made better than 10-to-1 on his investment in 13 years. Jordan has sold pieces of the team in the recent past, but still controlled 65% of the team before today’s deal. He will retain an undisclosed minority stake.
Messi scores twice in last night’s game, has 5 goals since joining MSL: https://www.aol.com/sports/inter-miami-vs-orlando-city-220014534.html . Whatever Inter Miami paid Messi to join, it is worth it to MSL. In less than a month, Inter Miami and MSl now have a major international following.
Will the Yankees self-destruct?: https://sports.yahoo.com/yankees-perfect-game-pitcher-domingo-113954079.html . So just after getting Aaron Judge back, the Yanks lose a star pitcher. The weight of making the playoffs increasingly falls on Judge’s shoulders (or perhaps his toe) … WSJ: More: https://www.wsj.com/sports/baseball/domingo-german-yankees-rehab-44e58e67 .
WSJ: Jason Gay on the US Women’s World Cup team: https://www.wsj.com/sports/soccer/us-womens-national-team-world-cup-sweden-f4275133 . Did Peggy Noonan write this? In the middle of all this babbling, Gay finally says, “The problem is they don’t align.” But that’s what literally everyone agrees on: they do not play as a unit. And, as I said yesterday and the day before, the fault for that lies with the coach. If these players are so incredibly talented, as Gay says (and I don’t disagree), where else would you place the blame?