News

Moderna Vaccine Trial: How Upbeat Coronavirus News Fueled a Stock Surge

By Kristie J. Fields 3 months ago

When the biotech company Moderna announced early on Monday morning positive results from a small, preliminary trial of its coronavirus vaccine, the company’s chief medical officer described the news as a “triumphant day for us.”

Moderna’s stock price jumped as much as 30 percent. Its announcement helped lift the stock market and was widely reported by news organizations, including The New York Times.

Nine hours after its initial news release — and after the markets closed — the company announced a stock offering with the aim of raising more than $1 billion to help bankroll vaccine development. That offering had not been mentioned in Moderna’s briefings of investors and journalists that morning, and the company chairman later said it was decided on only that afternoon.

By Tuesday, a backlash was underway. The company had not released any more data, so scientists could not evaluate its claim. The government agency leading

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Coronavirus Live News and Updates

By Kristie J. Fields 3 months ago

Trump did not wear a mask in public in Michigan, which he visited after threatening its federal funds.

President Trump, who has defiantly refused to wear a mask in public despite the recommendations of federal health officials, toured a Ford plant in Ypsilanti, Mich., on Thursday with his face uncovered. It was against the factory’s guidelines and the urging of Michigan’s attorney general, who had written him earlier that it was “the law of this state.”

“I didn’t want to give the press the pleasure of seeing it,” Mr. Trump said. At one point during the tour, Tom Petty’s “I Won’t Back Down” blared over the loudspeakers.

The Ford Motor Company later said in a statement that William Clay Ford Jr., its executive chairman, had “encouraged President Trump to wear a mask when he arrived.”

“He wore a mask during a private viewing of three Ford GTs from over the

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Live Coronavirus News Updates and Analysis

By Kristie J. Fields 3 months ago

All 50 states have begun to reopen, but vast discrepancies remain.

In Connecticut, flags that had been lowered to half-staff during the somber peak of the pandemic were raised high again to signal the state’s return to business.

In Kentucky, gift shops opened their doors.

And across Alaska, restaurants, bars and gyms, which have already been seeing customers for weeks, were getting ready to rev back up to full capacity. “It will all be open,” Gov. Mike Dunleavy announced, “just like it was prior to the virus.”

As of Wednesday, all 50 states had begun to reopen to some degree, two months after the outbreak thrust the country into lockdown. But vast variations remain in how states are deciding to open up, with some forging far ahead of others. Many began to reopen despite not meeting White House guidelines for progress against the virus, and newly reported cases have been

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Live Coronavirus News Updates and Full Analysis

By Kristie J. Fields 3 months ago

Trump pushes to reopen schools, and criticizes Fauci’s testimony.

President Trump pushed Wednesday to reopen the country’s schools and criticized the testimony delivered a day earlier by Dr. Anthony S. Fauci, the nation’s top infectious disease expert, who had cautioned the Senate about the unknown effects that the coronavirus has on children.

“I was surprised by his answer,” Mr. Trump told reporters. “To me it’s not an acceptable answer, especially when it comes to schools.”

The remarks came a day after Dr. Fauci and some of the federal government’s leading scientists had warned the Senate that the nation could face dire consequences if it eases restrictions and reopens the economy too soon.

The president’s impatience to regain a strong economy — initially seen as his main case for re-election — has often led to public clashes with the guidance provided by Dr. Fauci. A month ago, Mr. Trump made headlines

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