Diamonds and Dogs
COVID-19 vaccine maker, BioNTech (BNTX) reports strong results. The partner with Pfizer is up 6% following strong earnings. Sales rose 1,134% as their cash doubled to $1.2 billion. BioNTech has already provided more than 200 million doses of their vaccine with signed orders for 1.4 billion doses to date for delivery in 2021. BioNTech and Pfizer expect to expand manufacturing capacity to up to 2.5 billion doses by end of 2021.
Chips remain under pressure. Chipmaker, Broadcom (AVGO) is down 3% after Amazon thinks they can make thier own chips while networking firm Cisco Systems (CSCO) is down 2% as their CEO expects the semiconductor shortage that is wreaking havoc on everything from auto production to computer making will be around for a while, possibly years. President Biden said in late February he will push for $37 billion in funding to increase chip manufacturing in the country.
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