Three numbers to start your day:
Pfizer Anticipates $15 Billion in Revenue from Covid-19 Vaccine in 2021
Wall Street analysts had generally been modeling less than $13 billion in vaccine-related sales from the drugmaker this year.
Pfizer’s higher estimate would be more than a third of the total sales that it brought in last year. In other words, the vaccine isn’t just a major scientific feat—it’s also big business.
That fits neatly into Pfizer management’s new strategy of late. The company has sold off several peripheral ventures, including its off-patent drug business Upjohn last year.
Instead, Pfizer is promoting a narrower focus on developing and acquiring new drugs. Much of Tuesday’s earnings call was spent discussing the company’s research pipeline. And Pfizer even has a new logo to emphasize its scientific roots. Rather than a big blue pill, it now sports a symbol resembling a double helix.
Amazon Announces $126 Billion Quarter—And Other Big News
Let that sink in for a minute: $126 billion in three months. It’s about $1.4 billion in sales every single day.
And more than that, the e-commerce and cloud-computing giant saw a 44% surge in revenue versus the same period in 2019. There is no company in the history of business that has grown its revenues that much, that quickly.
But that outrageous stat wasn’t even the biggest news from Amazon’s earnings report on Tuesday evening. Founder and CEO Jeff Bezos announced that he would be stepping down from the top job, effective in the third quarter.
Andy Jassy will then take the reins. He’s the longtime head of Amazon Web Services, which he helped start in 2003. Bezos will remain involved as Amazon’s executive chairman—and the company’s largest shareholder.
Impossible Foods Says It Will Lower Price of Plant-Based Patties by 20%
The cuts are planned in U.S. grocery stores and other markets around the world.
It’s part of the privately held company’s plan to achieve price parity with ground beef. Then cost won’t be a factor in consumers’ decision about which patties to buy.
Impossible Foods’ move presents a new challenge for its rival Beyond Meat (BYND). That publicly traded company has yet to turn an annual profit, and it hasn’t always kept up with Wall Street’s ambitious sales forecasts either.
Analysts had predicted a full-year profit for Beyond Meat in 2021. But if it’s forced to match Impossible Foods’ price cut, that could be much harder to achieve. Beyond Meat stock dropped 6% on Tuesday.
Numbers by Barron’s is our daily podcast. Find out more here.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
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February 03, 2021 at 05:00PM
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Amazon Had a $126 Billion Quarter - Barron's
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