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Bond Yields Rise; Stocks Edge Down as Metals Jump: Markets Wrap – Yahoo Canada Finance

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The Canadian Press

The Latest: COVID-19 hospitalizations plummet after jabs

LONDON — Researchers in Scotland say its COVID-19 vaccination program has led to a sharp drop in hospitalizations. Scientists from the University of Edinburgh, the University of Strathclyde and Public Health Scotland found that the Pfizer vaccine reduced hospital admissions by as much as 85% and the Oxford/AstraZeneca shot cut admissions by up to 94%. The findings were based on a comparison of data from people who had received their first dose of vaccine and those who had not received an inoculation. The data was gathered between Dec. 8 and Feb. 15, a period during which 21% of Scotland’s population received their first shot. “These results are very encouraging and have given us great reasons to be optimistic for the future,’’ said Professor Aziz Sheikh, director of the University of Edinburgh’s Usher Institute. “We now have national evidence — across an entire country — that vaccination provides protection against COVID-19 hospitalizations.” THE VIRUS OUTBREAK: — Researchers in Scotland say its COVID-19 vaccination program has caused hospitalizations to plummet — Russia’s vaccine rollout picks up speed, but experts say the campaign is still moving slowly — Elementary schools and kindergartens reopen in over half of Germany’s 16 states — Every Democratic vote is needed on $1.9 trillion COVID-19 relief bill, but minimum wage and other issues will force choices — Portugal finds 7 cases of coronavirus variant first identified in Brazil — Follow all of AP’s pandemic coverage at https://apnews.com/hub/coronavirus-pandemic, https://apnews.com/hub/coronavirus-vaccine and https://apnews.com/UnderstandingtheOutbreak ___ HERE’S WHAT ELSE IS HAPPENING: LONDON — British Prime Minister Boris Johnson is laying out a road map for lifting lockdown — but millions of people in the U.K. longing for a haircut or a meal in a restaurant still face a long wait. Johnson is set to announce a plan Monday to ease restrictions incrementally, starting by reopening schools in England on March 8. People will be allowed to meet one friend or relative for a chat or picnic outdoors from the same day. Three weeks later, people will be able to meet outdoors in groups of up to six. But restaurants, pubs, gyms and hairdressers are likely to remain closed until at least April. The government says progress will depend on vaccines proving effective, infection rates remaining low and no new virus variants emerging that throw the plans into disarray. Britain has had Europe’s deadliest coronavirus outbreak, with more than 120,000 deaths. Vaccines Minister Nadhim Zahawi said the government’s plan for easing restrictions was “steady as she goes.” ___ LISBON, Portugal — Portugal is the latest European Union country to detect a COVID-19 variant first identified in Manaus, Brazil. Portuguese health authorities said late Sunday they had detected seven cases of the variant, warning that it is highly contagious and may be able to infect people who previously have had COVID-19. More than 150,000 Brazilians live in Portugal. The two countries have close cultural and economic ties. Portugal was for several weeks last month the world’s worst-affected country in the pandemic, with the highest number of new daily cases and deaths, but a lockdown since Jan. 15 has eased the pressure on the public health service. The European Centre for Disease Control says Portugal’s 14-day case notification rate per 100,000 people is 590. That makes it the fourth highest in the 30 countries monitored by the EU agency. The seven-day rolling average of daily deaths fell from 2.35 deaths per 100,000 people on Feb. 7 to 0.90 deaths per 100,000 people on Feb. 21, according to Johns Hopkins University. ___ BERLIN — Elementary schools and kindergartens in more than half of Germany’s 16 states reopened Monday after two months of closure due to the coronavirus pandemic. The move comes despite growing signs that the decline in case numbers in Germany is flattening out again and even rising in some areas. Germany’s education minister, Anja Karliczek, has defended the decision to reopen schools, saying younger children in particular benefit from learning together in groups. Karliczek told German news agency dpa that schools should use “all available means to prevent virus transmission” and expressed confidence that state education officials — who are in charge of school matters in Germany — would consider infection numbers when deciding where to reopen. Germany’s disease control agency say there were 4,369 newly confirmed cases and 62 deaths in the past day, though Monday’s numbers are often low due to reporting delays over the weekend. Education unions have called for teachers and kindergarten workers to be moved into a higher priority group for vaccinations, an idea that government officials have said they will consider. ___ COLOMBO, Sri Lanka — Sri Lankan fast bowler Lahiru Kumara has tested positive for COVID-19 ahead of a cricket tour of the West Indies, Sri Lanka Cricket said Monday. He was tested positive during pre-departure tests of the squad and was isolated. Kumara is the third member of the team to test positive for COVID-19. Coach Mickey Arthur and batsman Lahiru Thirimanne earlier tested positive, throwing the tour in doubt. However, the team was expected to depart for Antigua as scheduled later Monday. Health authorities said on Monday that they have decided to purchase 10 million doses of the Oxford-AstraZenica vaccine from neighbouring India. It is the only vaccine currently approved by the regulatory body in Sri Lanka. Sri Lanka is currently administering 500,000 doses of the Oxford-AstraZenica vaccine donated by India. Sri Lanka has reported 79,999 COVID-19 patients, including 445 deaths. ___ WASHINGTON — President Joe Biden will mark 500,000 U.S. lives lost from COVID-19 with a moment of silence and candle-lighting ceremony at the White House. The nation is expected to pass the grim milestone on Monday, just over a year after the first confirmed U.S. fatality of the pandemic. The White House said Biden will deliver remarks at sunset to honour those who lost their lives. He will be joined by first lady Jill Biden and Vice-President Kamala Harris and her husband, Doug Emhoff. They will participate in the moment of silence and lighting ceremony. Biden has made a point of recognizing the lives lost from the coronavirus. His first event upon arriving in Washington for his inauguration a month ago was to deliver remarks at a COVID-19 memorial ceremony. ___ WELLINGTON, New Zealand — New Zealand will remove remaining coronavirus restrictions from Auckland on Monday after an outbreak discovered in the largest city fades. Prime Minister Jacinda Ardern said more than 72,000 tests had found no evidence the virus was spreading in the community. Auckland was placed into a three-day lockdown this month after a mother, father and daughter tested positive. Another five contacts later tested positive. After the lockdown ended, Auckland continued to have restrictions including on gatherings. The source of the outbreak remains unclear, although authorities continue to investigate whether there is a connection between infected airline passengers and the mother, who works at a company which cleans laundry for airlines. New Zealand has an elimination strategy with the coronavirus and has managed to stamp out its spread in the community. ___ LOS ANGELES — California’s death toll during the coronavirus pandemic has topped 49,000, even as the rates of new infections and hospitalizations continue to plummet across the state. California reported another 408 deaths Sunday, bringing the total since the outbreak began to 49,105 — the highest in the nation. Health officials said Sunday that the number of patients in California hospitals with COVID-19 has slipped below 7,000, a drop of more than a third over two weeks. The 6,760 new confirmed cases reported Sunday are more than 85% below the mid-December peak of about 54,000 in one day. Total cases are approaching 3.45 million. The positivity rate for people being tested has been falling for weeks, which means fewer people will end up in hospitals. ___ CODOGNO, Italy — Italians are marking one year since their country was shocked to discover it had the first known locally transmitted COVID-19 case in the West. With church services Sunday and wreath-laying ceremonies, including in small northern towns which were the first to be hard-hit by the pandemic, citizens paid tribute to the dead. Italy has a confirmed death toll from the virus of 95,500. While the first wave of infections largely engulfed Lombardy and other northern regions, a second wave, starting in fall 2020, has raced throughout Italy, which so far has registered some 2.8 million cases. The first locally transmitted case was discovered in a 38-year-old patient in a hospital in Codogno, Lombardy. That patient survived. But in the northeastern town of Vo, which registered the nation’s first known death on Feb. 21, 2020, officials unveiled a memorial plaque at a tree-planting ceremony. ___ WASHINGTON — The White House says about a third of the coronavirus vaccine doses delayed by this week’s winter weather have been delivered this weekend. Press secretary Jen Psaki says the administration has been working with shippers and states to close the roughly 6 million dose backlog created this week as power outages closed some vaccination centres and icy weather stranded some vaccine in shipping hubs. Psaki says the administration is making sure those catch-up doses out to vaccination centres “as soon as they can handle them.” Speaking to ABC’s “This Week,” Psaki says, “We’ve been able to get about 2 million of those 6 million doses out,” adding, “We expect to rapidly catch up this week.” The Associated Press

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Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily

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[unable to retrieve full-text content]

  1. Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin’s Fourth Halving Arrives  Investor’s Business Daily
  2. Iran fires at apparent Israeli attack drones: Mideast tensions  The Associated Press
  3. S&P 500 extends losing streak to sixth day, Dow up 210 points  Yahoo Canada Finance
  4. Stock Market Today: Dow, S&P Live Updates for April 19  Bloomberg
  5. Stock market today: Wall Street limps toward its longest weekly losing streak since September  CityNews Kitchener

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Netflix stock sinks on disappointing revenue forecast, move to scrap membership metrics – Yahoo Canada Finance

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Netflix (NFLX) stock slid as much as 9.6% Friday after the company gave a second quarter revenue forecast that missed estimates and announced it would stop reporting quarterly subscriber metrics closely watched by Wall Street.

On Thursday, Netflix guided to second quarter revenue of $9.49 billion, a miss compared to consensus estimates of $9.51 billion.

The company said it will stop reporting quarterly membership numbers starting next year, along with average revenue per member, or ARM.

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“As we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,” the company said.

Netflix reported first quarter earnings that beat across the board on Thursday, with another 9 million-plus subscribers added in the quarter.

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Subscriber additions of 9.3 million beat expectations of 4.8 million and followed the 13 million net additions the streamer added in the fourth quarter. The company added 1.7 million paying users in Q1 2023.

Revenue beat Bloomberg consensus estimates of $9.27 billion to hit $9.37 billion in the quarter, an increase of 14.8% compared to the same period last year as the streamer leaned on revenue initiatives like its crackdown on password-sharing and ad-supported tier, in addition to the recent price hikes on certain subscription plans.

Netflix’s stock has been on a tear in recent months, with shares currently trading near the high end of its 52-week range. Wall Street analysts had warned that high expectations heading into the print could serve as an inherent risk to the stock price.

Earnings per share (EPS) beat estimates in the quarter, with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54.

Profitability metrics also came in strong, with operating margins sitting at 28.1% for the first quarter compared to 21% in the same period last year.

The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.

Free cash flow came in at $2.14 billion in the quarter, above consensus calls of $1.9 billion.

Meanwhile, ARM ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad-tier impact and price hike effects take hold.

On the ads front, ad-tier memberships increased 65% quarter over quarter after rising nearly 70% sequentially in Q3 2023 and Q4 2023. The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it’s offered in.

FILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File PhotoFILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo

Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo (REUTERS / Reuters)

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack – OilPrice.com

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Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack | OilPrice.com



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Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

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  • Oil prices initially spiked on Friday due to unconfirmed reports of an Israeli missile strike on Iran.
  • Prices briefly reached above $90 per barrel before falling back as Iran denied the attack.
  • Iranian media reported activating their air defense systems, not an Israeli strike.

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Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been a missile attack against Iran.

Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.

The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian media also reported.

Israel’s retaliation for Iran’s missile strikes last week was seen by most as a guarantee of escalation of the Middle East conflict since Iran had warned Tel Aviv that if it retaliates, so will Tehran in its turn and that retaliation would be on a greater scale than the missile strikes from last week. These developments were naturally seen as strongly bullish for oil prices.

However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters.

Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.

The International Atomic Energy Agency (IAEA) said that “there is no damage to Iran’s nuclear sites,” confirming Iranian reports on the matter.

The Isfahan province is home to Iran’s nuclear site for uranium enrichment.

“Brent briefly soared back above $90 before reversing lower after Iranian media downplayed a retaliatory strike by Israel,” Saxo Bank said in a Friday note.

The $5 a barrel trading range in oil prices over the past week has been driven by traders attempting to “quantify the level of risk premium needed to reflect heightened tensions but with no impact on supply,” the bank said, adding “Expect prices to bid ahead of the weekend.”

At the time of writing Brent was trading at $87.34 and WTI at $83.14.

By Tsvetana Paraskova for Oilprice.com

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