Diamonds and Dogs

3/30/20

Abbott Laboratories (ABT) surges after the company unveiled a coronavirus test that can tell if someone is infected in as little as five minutes. Abbott's stock is up 7% as the medical-device maker plans to supply 50,000 tests a day starting April 1. The molecular test looks for fragments of the coronavirus genome, which can quickly be detected when present at high levels. Abbott has received emergency use authorization from the U.S. Food and Drug Administration.

Johnson & Johnson (JNJ) jumping on news of the company identified a leading coronavirus vaccine candidate that could result in more than a billion doses available to address the global pandemic. The stock is up 7% as Johnson & Johnson said the vaccine was developed in partnership with Jansen Pharmaceuticals and the U.S Biomedical Advanced Research and Development Authority and that it hopes to initiate human trials for the lead vaccine candidate by September at the latest. The company also said it expects the first batch could be available for emergency use in early 2021.