Categories
Genel

Cathie Wood loves the set-up for her stocks after sell-off, expects big returns from her strategies From “International: Top News And Analysis”



Cathie Wood, founder of Ark Invest, said Friday that the pullback in technology stocks is not a cause for concern, and that her long-term bets will pay off over time.”I love this set up,” she said Friday on CNBC’s “Closing Bell.” “The worst thing that could have happened to us is to have the market narrowly focus on just our ilk of stock — the the innovation space.”Amid the rotation out of high-growth areas of the market, some of Wood’s strategies are now down more than 30% since their February peak.”From our point of view — five-year time horizon — nothing has changed except the price,” she said. Back in February Wood expected a 15% compound annual rate of return from her strategies, but after the recent fall in prices, she envisions that number rising to between 25% and 30%.While Wood is sticking with her long-term bets, one name she has been selling is Apple. The fund is not allowed to hold any cash, so instead the dollars are parked in what Wood called “cash-like innovation stocks,” which includes Apple.”The FAANGs certainly meet that criteria — they’re acting like defensives,” she said. “During a period of volatility like we’ve just seen, we will sell those stocks and move into either our more pure-play or earlier stage innovation companies that are being hurt by risk-off.”Wood’s flagship fund Ark Innovation gained some ground on Friday along with the broader tech sector, although the fund is still down more than 9% for the week.Amid the weakness, around $760 million has been pulled from the fund over the last week, according to data from FactSet.Still, despite the outflows, Wood said the firm has not yet seen a month of redemptions.Wood rose to fame in 2020 when her suite of exchange-traded funds — focused on areas including the genomic revolution and robotics — far outperformed the broader market.As her firm gained prominence, her funds have becoming wildly popular. Assets in Ark vehicles ballooned from $10 billion to $80 billion in just 10 months.”That’s parabolic. We are used to exponential growth — that’s what we do. Our Ark strategies, our Ark innovation platforms we believe are going to scale exponentially, and therefore our capacity should scale exponentially. 10 to 80 billion was a littler faster than that,” she said.Become a smarter investor with CNBC Pro. Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. Sign up to start a free trial today







Read All

Categories
Genel

Thailand expects up to 20 million doses of Pfizer vaccine from July From “World News Headlines, Latest International News, World Breaking News – Times of India”



Thailand’s health minister said on Friday he expects the Southeast Asian country to receive 10 to 20 million doses of the Pfizer Covid-19 vaccine during the second half of this year. Thailand so far has received a total of 3.5 million doses of a vaccine developed by China’s Sinovac Biotech and expects delivery of an additional 2.5 million doses this month. “Pfizer is coming,” health minister Anutin Charnvirankul posted on his Facebook page. “We expect to receive 10 to 20 million doses,” he wrote. A separate statement from his party said, if conditions were met, supplies would arrive over the third and fourth quarters of the year. Thailand has been rushing to secure additional vaccine supplies since April after seeing its deadliest wave of infections so far. On Friday, authorities reported 27 new coronavirus deaths, matching its second-highest daily rise in fatalities. The Southeast Asian country also reported 2,044 new coronavirus cases, bringing the total number of confirmed infections to 78,855 since the pandemic began last year. The total number of deaths now stands at 363. Thailand plans to inoculate 70% of its government-estimated population of about 67 million Thais and 3 million foreign residents.







Read All

Categories
Genel

Europe's vaccine campaign is accelerating. It expects to match the U.S. by July. From “World”




The European Union has fixed some of its logistical problems and is relying heavily on production from Pfizer-BioNTech.







Read All

Categories
Genel

Pfizer expects elderly, those with health conditions to be first From “International: Top News And Analysis”



A healthcare worker gives the Pfizer/BioNTech vaccine to Norman G. Einspruch, 88, a cardiology patient, as part of COVID-19 vaccination plan for the seniors at the Jackson Memorial Hospital in Miami, Florida, United States on December 30, 2020.Marco Bello | Anadolu Agency | Getty ImagesHigh-risk groups such as the elderly and people with underlying medical conditions are expected to be the first in line to get booster shots of the Pfizer-BioNTech Covid-19 vaccine, Pfizer’s chief scientific officer told investors Tuesday.The two-dose vaccine has been shown to be about 95% effective against Covid two weeks after the second dose, though researchers who helped develop the shot now say they are beginning to see that strong protection wane over time.Executives at Pfizer and BioNTech previously told CNBC that people will likely need a booster shot, or third dose, of the Covid-19 vaccine within 12 months of getting fully vaccinated. They also said it’s likely people will need to get additional shots each year.During an earnings call Tuesday, Mikael Dolsten, Pfizer’s chief scientific officer, said it makes sense to start with those most susceptible, such as older adults and those with chronic diseases that make them more vulnerable to severe illness and hospitalization, such as cardiovascular disease or asthma.The Centers for Disease Control and Prevention makes recommendations to states on who should get the shots first.”We cannot predict” what the CDC will do, Dolsten said.Dolsten’s comment comes after the company reported that sales of its Covid-19 vaccine boosted its first-quarter financial results.The company now expects full-year sales of $26 billion from the vaccine, up from its previous forecast of about $15 billion. It expects an adjusted pretax profit in the high 20% range of revenue for the vaccine.”Based on what we’ve seen, we believe that a durable demand for our Covid-19 vaccine, similar to that of the flu vaccines, is a likely outcome,” Pfizer CEO Albert Bourla told investors on the earnings call.Should Americans require booster shots, the U.S. government would likely need to make arrangements with the drugmakers to supply additional doses and make plans for vaccine distribution.Last month, Andy Slavitt, senior advisor to President Joe Biden’s Covid response team, said the White House is preparing for the potential need for Covid-19 vaccine booster shots. He said the Biden administration has thought about the need to secure additional doses.







Read All