Week 07/20/2020 - 07/26/2020

A Covid-19 vaccine developed by Oxford University and AstraZeneca caused an immune response in a study of roughly 1000 patients (Patients have mild to moderate side effects including fever, headaches and muscle pain). Besides, another study coducted by Chinese Cansino also showed positve antibody responses in a Phase 2 trial. Although it’s still early, WHO said the states may have a deal with AstraZeneca and produce 300 million doses this fall if the results are still good.
UK suspended its extradition treaty with HK because of China’s new security law.
Chevron agreed to buy Noble Energy in an all-stock deal, which is the largest deal in the U.S. energy sector this year. The offer values Noble at $10.38/share or 0.1191 Chevron share, a 7.5% premium to Noble’s Friday close. The deal would value Noble at roughly $13 billion, including debt.
Snapchat is partnering with Headspace (popular meditation app) to launch “Minis”, tiny apps inside Snapchat offers 6 different meditation sessions. People guess that Snapchat wants to build its own App Store like what Apple does.

United Airline’s revenue of $1.48 billion (-87% Y/Y) beats by $80 million. It lost $1.6 billion in Q2. They are focused on carrying higher value passengers and UAL has system yields up 38%.
Coca-Cola’s sales plunged 28%, prfits drops 30% in Q2. However, after the news released, Coke’s stock jumped, showing people’s positive expectation of Coke’s future.
Ant Group, Jack Ma’s fintech firm, is planning to go public with a $200 billion valuation.
Oil prices hit a four-month high, which indicates investors think demand for fuel is on the comeback trial
Senate Banking Committee approved Trump nominee Judy Shelton to the Federal Reserve’s Board of Governors.
Snapchat’s revenue increased 17% annually to $454 million and its daily active users were also up 17% to 238 million.
The EU leaders agreed on a $2 trillion coronavirus recovery package to support their ailing economy.
Apple plans to cut all carbon emissions out of its business by 2030.

U.S. agrees to pay Pfizer and BioNTech $2 billion for 100 million doses of coronavirus vaccine. If the vaccine works, U.S. can acquire 500 million addional doses.
Tesla reported its first full year of GAAP profits, which means it could be included in the S&P 500 index. Its revenue reached $6.04 billion with $428 million of that from regulatory credits. Also, it announced that it will build a $1.1 biliion assembly plant in Austin that will employ 5000 people.
U.S. ordered to shut down the Chinese Consulate in Houston, TX.
Slack has filed an antitrust complaint over Microsoft Teams in the EU.
Microsoft reported 13% revenue growth last quarter. However, its flagship cloud computing business Azure reported quarterly sales growth of under 50% for the first time ever.

U.S. has 4 million coronavirus cases, which means in 82 people, there’re at least one person who’s been infected. Trump(finally) cancels some of the Republican National Convention in Florida due to the COVID issue.
Because of the massive increase on online shopping in the states since COVID-19 lockdown, U.S. are in shortage of pennies worth $47.8 billion.
Senate Republicans agreed to another round of pandemic relief package including direct payments of $1200 for people earning up to $75000, pouring $300 billion into the economy.
Twitter’s average daily user growth spiked 34% in the second quarter. However, its revenue fell by about a fifth to $683 million, far short of the $702 million Wall Street had expected.

China repsponded U.S. shutting down Chinese Consulate in Houston by shutting down the U.S. Consulate in Chengdu.
Goldman Sachs has agreed to a $3.9 billion deal with the Malaysian government to settle claims relating to the bank’s role in the huge corruption scandal at 1Malaysia Development Berhad, the sovereign wealth fund.
Intel delayed the rollout of its 7-nanometer chip technology by a year and after releasing this news, its shares tumbled as much as 18%.
Precious metal surged to a new closing record for the first time since 2011, $1897.5 a troy ounce.