Wall Street Declares “The Beginning Of The End Of The COVID Crisis”

Wednesday, 20 January 2021, 20:17:44
Wall Street Declares “The Beginning Of The End Of The COVID Crisis” One month ago , we said that the beginning of the end of the covid pandemic would mysteriously coincide with the Biden inauguration, and sure enough that's precisely what has just happened. As BofA's Ethan Harris writes overnight in his daily COVID news wrap, ” with COVID cases falling and vaccines accelerating, this is probably the beginning of the end of the COVID crisis”, echoing similar notes from a variety of other banks published today. What has sparked BofA's optimism? Harris explains: Renewed restrictions and the end to the holiday season seem to be bending the cases curve. The vaccine rollout should continue to accelerate as new resources and effort is put into the project. There is one major caveat: new more contagious strains have arrived in the US. Bending the curve The BofA economist then argues this point with his chart of the day, which shows that the US is now clearly over the hump, with 142,000 COVID cases in the US on Monday, down 32% from the prior Monday…. the seven day average has also dropped, to 209,000, down 16% from the peak on January 8th.
— Zero Hedge

Morgan Stanley Impresses With Earnings, Buttressed By Robust Investment Banking

Wednesday, 20 January 2021, 15:48:09
Inaugurations are about fresh starts and optimism. When you combine it with the kind of solid earnings that investors saw last night and this morning from Netflix Inc (NASDAQ: NFLX ) and Morgan Stanley (NYSE: MS ), you can see why the market is having a little rally to start the day. Events in Washington will probably supersede whatever happens on Wall Street today, but that doesn’t mean nothing’s going on in the financial world. First of all, MS, the final big bank to report, impressed with its Q4 results and saw shares tick higher in pre-market trading;. The company beat Wall Street estimates on earnings per share and revenue, with an amazing quarter for its investment banking. Revenue in that segment rose 46% year over year, not completely unexpected when you consider the healthy mergers and acquisitions (M&A) and initial public offerings (IPO) environment over the last few months. So, all the big banks are done, and the quarter overall not unbelievable, but good. Some disappointments came from the consumer side and hurt banks like Wells Fargo & Co (NYSE: WFC ) and Bank of America Corp (NYSE: BAC ) that do a lot of their business there.
— Benzinga

Bank of America Corp. (BAC) Q4 2020 Earnings Call

Wednesday, 20 January 2021, 15:41:24
Bank of America Corp. (NYSE: BAC) Q4 2020 earnings call dated Jan. 19, 2021 Corporate Participants: Lee McEntire — Senior Vice President, Investor Relations Brian Moynihan — Chairman of the Board and Chief Executive Officer […] The post Bank of America Corp. (BAC) Q4 2020 Earnings Call first appeared on AlphaStreet .
— AlphaStreet

Nifty To End With Limited Gains In 2021, Says BofA; To Touch 15,000 By Dec

Wednesday, 20 January 2021, 14:51:53
After the strong rally seen since April 2020, there is a limited upside in the Indian equities and the markets will end 2021 with a low single-digit gain, said an American brokerage on Wednesday. BofA Securities said it is “not as
— Goodreturns

Sub-Hunting Drone Completes Successful Test Off California Coast

Wednesday, 20 January 2021, 02:10:00
Sub-Hunting Drone Completes Successful Test Off California Coast The US Navy and General Atomics tested a Reaper drone for the first time ever with new submarine-hunting technology, according to Defense News . The General Atomics' MQ-9A Block V Reaper drone dropped ten sonobuoys were used to track an underwater training target that mimicked a submarine. The test was conducted in November. The MQ-9A Block V Reaper is part of a research and development project with the Navy's Naval Air Systems Command. The successful completion of the test may lower submarine-hunting surveillance costs and divert more expensive human-crewed airplanes, such as the Boeing P-8 Poseidon, to more critical missions. A General Atomics tear-off sheet shows the MQ-9A Block V Reaper has four pods that can carry up to 40 ‘A' size or 80 ‘G' size sonobuoys. During the test, the drone dropped sonobuoys to track an underwater target in real-time. “This demonstration is a first for airborne antisubmarine warfare . The successful completion of this testing paves the way for the future development of more Anti-Submarine Warfare capabilities from our MQ-9s,” said General Atomics Aeronautical Systems President David Alexander in a statement. “We look forward to continuing collaboration with the US Navy as they explore innovative options for distributed maritime operations in the undersea domain.” Using drones for anti-submarine warfare could be the cheapest bet for the military to monitor the Pacific Ocean as China continues to expand its underwater capabilities .
— Zero Hedge