Diamonds and Dogs

10/6/20

BioNTech (BNTX) up 6% as their COVID-19 vaccine moves forward. BioNTech along with partner Pfizer are getting a "rolling submission" for approval of their Covid-19 vaccine candidate from the European Medicines Agency. Pfizer has said initial Phase 3 clinical trial results could be in by the end of October. Analysts have widely given the lead to BioNTech and Pfizer for getting their vaccine to market first. Four other companies or teams are also in final-phase testing of a Covid-19 vaccine.

Boeing (BA) lowers 20-year forecast for airplane demand. Boeing is down 3% after rising 3% to start the day after they lowered their 20-year demand forecast with most of the decline coming this decade. Boeing predicts airplane deliveries to be cut to 18,350 for 2020-2029, down 10.7% from an unpublished forecast of 20,550 embedded in the last report. Demand would return towards previous trends in the 2030s. This is the first time since the 2009 financial crisis that Boeing cut the 20-year demand forecast in terms of the number of deliveries. Maybe this is a sign of a bottom?