For CureVac N.V. (CVAC), the share price rose to $105.25, up +6.64 percent. In a EUR 150 million program to create the next wave of Covid-19 vaccines that are safe against numerous variants in a single product, the German biopharmaceutical company listed on Nasdaq is collaborating with Britain’s GlaxoSmithKline.
Gaining +7.28% in the trading session on Wednesday, Alphabet Inc. (GOOGL) soared to $2058.88. In the last quarter of 2020, Google’s parent corporation greatly beat forecasts, with a record profit of $15.23 billion ($22.30 per share), up 43% year-on-year. FactSet’s consensus for net income was $10.92 billion ($15.77 a share). The company reported revenue of $56.9 billion in the fourth quarter, boosted by internet advertisements during the holiday season, compared to $46.9 billion a year ago, and well above the $53 billion anticipated by analysts.
The Google search engine’s sales hit $31.9 billion, up 17% year-on-year. During the holiday season, YouTube’s advertisement revenue leaped 46 percent to $6.9 billion, taking the group’s advertising revenue to $46.2 billion (up 22 percent year-on-year), making for more than 80 percent of the overall revenue of the US internet giant. As a result of the coronavirus outbreak, Google’s advertisement sales dropped 8 percent in the second quarter, before recovering 10 percent in the third quarter and accelerating to 22 percent in the fourth quarter.
Cloud division (digital computing) sales soared 47 percent to $3.83 billion, while the division remains smaller than Amazon and Microsoft’s big rivals. Google Cloud posted a net loss of $1.24 billion in the fourth quarter and $5.6 billion in 2020, a loss 20 percent greater than in 2019 (-$4.65 billion), Alphabet has stated.
Bristol-Myers Squibb Company (BMY) fell -1.45% to $62.03. A Covid treatment developed by Rockefeller University in New York will be developed, manufactured, and sold worldwide by the New York Pharmaceutical Company.