Dow rose 192, advancers over decliners 3-2 & NAZ went up 78. The MLP index fell 1+ to the 203s & the REIT index was steady at 463. Junk bond funds fluctuated & Treasuries were sold, raising yields. Oil dropped 2+ to the 79s & gold added 5 to 1827.
AMJ (Alerian MLP index tracking fund)
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American Express (AXP). a Dow stock, known for its array of perks-laden cards, is jumping into the highly competitive arena of digital-checking accounts. The
company launched Amex Rewards Checking to its US customers. Any non-business card member in good standing is eligible for
the no-fee, no minimum balance account, according to Eva Reda, general manager for consumer banking. While there is no shortage of options for Americans seeking a checking account, from fintech disruptors to big banks, AXP is offering this enticement.
Customers who enjoy racking up points on transactions can use the
account's debit card to earn one reward point for every $2 spent, as
well as a 0.50% annual yield on balances. “The reason we are
putting together this really nice [annual percentage yield] and the
rewards is to absolutely maximize the loyalty we can get from those
customers,” Reda said. “The time just feels right based on where
customers’ heads are, who’s using the product and how mass this sort of a
solution is quickly becoming.” AXP called it the company's first checking account for consumers. The stock rose 2.20.
If you would like to learn more about AXP click on this link:
club.ino.com/trend/analysis/stock/AXP_aid=CD3289&a_bid=6ae5b6f
American Express launches its first digital checking account for rewards-hungry consumers
Pfizer (PFE) projects it will generate record-high revenue in 2022, saying
it expects to sell $32B of its Covid-19 shots & $22B of
its antiviral coronavirus treatment pill Paxlovid this year. However,
the company posted mixed Q4 results, beating on earnings
but missing on revenue. Adjusted EPS rose to $1.08 vs 87¢ expected & revenue was $23.8B vs $24.1B expected. The miss on revenue was driven by lackluster sales in its internal medicine & hospital segments. Q4 internal medicine sales fell 3%
year-over-year to $2.24B, while hospital sales were largely flat
at $1.88B. Oncology sales expanded 7% to $3.24B
compared with the year-earlier period. However, Q4 revenue more than doubled overall to $23.8B
year-over-year, driven by $12.5B in sales of its Covid vaccine. The
antiviral pill that fights Covid, Paxlovid, contributed $76M in US sales in Q4. The Food & Drug
Administration gave the pill emergency approval in Dec. On an
unadjusted basis, Q4 profit increased more than 4fold to $3.39B from $847Min the same 3 months of 2020. PFE expects $98-102B in sales for 2022 & adjusted EPS of $6.35-6.55. The stock fell 2.37
If you would like to learn more about PFE click on this link:
club.ino.com/trend/analysis/stock/PFE_aid=CD3289&a_bid=6ae5b6f
Pfizer expects $54 billion in 2022 sales on Covid vaccine and treatment pill
Fatal opioid overdoses are thought to be costing the US economy $1T each year, gov officials have said. In a report from the bipartisan Commission on Combating Synthetic Opioid Trafficking, it was revealed that synthetic opioids — primarily fentanyl — were responsible for almost 2 in 3 reported drug overdose deaths in the US in the year to Jun 2021. More than 100K people died of drug overdoses during that period, an increase of 30% from a year earlier, it said. And overdoses have been responsible for more than 1M deaths in the US since 1999, according to the report — that's more than double the number caused by firearms or car accidents. The Commission on Combating Synthetic Opioid Trafficking includes representatives from several federal departments & agencies, including the Dept of Homeland Security & the US Drug Enforcement Administration. “In 2018, according to the White House Council of Economic Advisers, the cost of overdose fatalities was $696 billion, despite being roughly two-thirds of annual overdose deaths today,” the commission said in its report. “It is therefore reasonable to estimate that drug overdoses are now costing the United States approximately $1 trillion annually.” According to the report, this “staggering amount” predominantly arose from the lost productivity caused by early deaths, as well as health care & criminal justice costs.
Drug overdoses are costing the U.S. economy $1 trillion a year, government report estimates
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