Diamonds and Dogs

11/27/20

Moderna (MRNA) is jumping 18% after signing a supply agreement with the European Commission for 80 million doses of its coronavirus vaccine candidate, mRNA-1273. The company has been in advanced discussions for this deal with the European Commission since August. Moderna expects to start delivery of the vaccine, if it is approved, as early as the first quarter of 2021.

The Walt Disney Company (DIS) has announces bigger than expected layoffs. Disney is lower by a percent as they plan to lay off 32,000 employees by the end of March 2021, which is when the first half of its fiscal year 2021 concludes. The force reduction will be primarily in Disney's Parks, Experiences and Products segment, which had about 155,000 employees as of Oct. 3, 2020. The figure of 32,000 employees to be laid off is up from an estimate of 28,000 made public in September. Its rare to see massive layoffs when a stock is at or near all time highs. Crazy market.