Diamonds and Dogs

8/6/21

DraftKing (DKNG) ready for the NFL season. The online gambling company is up 2% following earnings. The industry leader reported a loss, but revenue beat expectations. The company is now live with online sports gambling operations in 12 states with 25% of the U.S. population. It had 1.1 million average monthly unique users in the quarter and generated an average of $80 in revenue per user in the period.

Novavax (NVAX) taking a hit. The drug company is down 18% following a wider-than-expected second quarter loss and said it would delay its application for emergency approval of its developing coronavirus vaccine until the end of the year. The Gaithersburg, Maryland-based drugmaker said it expects to seek regulatory approval from the U.S. Food & Drug Administration for its NVX-CoV2373 coronavirus vaccine candidate in the fourth quarter. They remain on track to reach manufacturing capacity of 100 million doses per month by October and 150 million does per month by the end of the year.

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