[ad_1]
Have a good bump day!
Shares ended higher on Tuesday with the S&P 500 and the Nasdaq both closing records as Wall Street posted a November which was its best monthly performance since April.
And Pfizer’s vaccine has been approved by the UK
The UK’s decision to approve the vaccine for emergency use preceded the expected US and EU approvals.
The shot will be available for the first round of eligible people in Britain from next week.
Jim Cramer said the news from Pfizer “was not being received as it should by the stock market” as the three major indices were trading lower in intraday trading on Wednesday.
“This was the first news that really moved the needle on Pfizer,” Cramer said.
In the video below, Jim Cramer talks about Pfizer (PFE) – Get the report, Salesforce (CRM) – Get the report, McDonalds (MCD) – Get the report, The Biden Economics Team, ADP Jobs Report and more:
“The government (Wednesday) accepted the recommendation of the Independent Medicines and Health Products Regulatory Agency to approve the use of Pfizer-BioNTech’s Covid-19 vaccine,” the UK said. “The vaccine will be available across the UK from next week.”
“This clearance is a goal we have been working towards since we first declared that science would win, and we commend the MHRA for its ability to conduct careful assessment and take timely action to help protect the population of the UK, ”said the CEO of Pfizer. Albert Bourla.
Cramer said the news builds confidence in the ability to distribute a vaccine in the United States. “This shows that Pfizer has the capacity to produce a lot more vaccines than people realize … We’ll be good to go as soon as the FDA says ‘yes,’ Cramer said, adding that he expects it. that the FDA faces “remarkable” pressure.
And we have the details on Salesforce’s acquisition of Slack.
Slack shareholders will receive $ 26.78 in cash and 0.0776 Salesforce common share for each Slack share, which is a 55% premium over Slack’s price on November 24, the day before reports were published on a potential agreement.
This acquisition is the largest ever made by Salesforce. It is expected to close by the end of July.
“It’s a match made in heaven,” said Marc Benioff, president and CEO of Salesforce. “Together, Salesforce and Slack will shape the future of business software and transform the way everyone works in the fully digital world and from anywhere.”
After interviewing Benioff on CNBC “Mad Money,” Cramer said the acquisition as a smart move. “What Marc is trying to do is put together a coalition of the companies that best lend themselves to a workforce of 360 people… it’s a very smart acquisition,” Cramer said.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Read their updates in the market.
Daniel Kuhn contributed to the writing of this article.
Latest videos from TheStreet and Jim Cramer:
[ad_2]
Source link