Diamonds and Dogs
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.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.