Monthly Archives: August 2021

With the Delta variant driving a surge in COVID-19 infections, accounting for more than 90% of new cases across the U.S., health officials warn the threat of the contagious variant is "serious" as infected patients crowd hospital beds in hard-hit regions.

I cannot emphasize enough how serious this situation is, Dr. Elizabeth Clayborne, emergency physician at UM Capital Region Medical Center, told Yahoo Finance Live, referring to the Delta variant. This is a wake-up call for everyone in the country regardless of where they live.

The daily average case count rose above 96,000 on Wednesday, about a 130% jump over the past two weeks, according to data compiled by the New York Times. And the daily average number of deaths are on the rise as well, climbing 65% in the past 14 days to 410, but still only a fraction of the total reported during the winter peak.

As it stands now, Florida and Texas account for about a third of new cases across the country. Texas recorded more than 15,000 new COVID-19 cases Wednesday, its highest one-day total in six months, according to state data. Meanwhile, the Florida Hospital Association reported more than 17,000 new COVID-19 cases in the state and 11,515 COVID-19 patients hospitalized as of Wednesday, with 86% of inpatient ICU beds in use.

But its not just Florida and Texas that are seeing a rapid rise in cases fueled by the Delta Variant. States including Louisiana, Mississippi, Alabama, Oklahoma and South Carolina have seen confirmed COVID-19 cases jump more than 100% in the past two weeks.

The Delta variant, which is driving the recent surge in cases, was first detected in India. The variant has now been identified in more than 130 countries and a recent internal Centers for Disease Control and Prevention (CDC) document warned its likely to cause more severe illness and is as contagious as chickenpox.

In prepared remarks on Tuesday, President Biden described the Delta variant as a largely preventable tragedy that will get worse before it gets better as he laid out plans to get more Americans vaccinated and stop the spread of COVID.

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Though vaccination numbers in the country are improving, only 49% of the population 12 years and older is fully vaccinated, and 58% have received one shot.

As an emergency room physician who continues to take care of patients on a daily basis who are testing positive for COVID this is a real threat, Clayborne added. Reach out to those members of your family or their friend circles who have not been vaccinated and encourage them to rethink that because it is very risky.

Seana Smith anchors Yahoo Finance Lives 3-5 p.m. ET program. Follow her on Twitter @SeanaNSmith

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Delta variant: This is a wake-up call for everyone in the country, emergency physician says - Yahoo Finance

More mobile consumers after getting a COVID-19 vaccine hasn't slowed the online car buying boom that the pandemic helped create.

At least that's a takeaway from the second quarter earnings out of online car-selling leader Carvana (CVNA).

Carvana said Thursday evening that it sold 107,815 retail units in the second quarter, up 96% from a year ago. It marked the company's first time selling over 100,000 units. The company saw a record level of gross profit per unit. Some $45 million in net income was the first-ever quarter for Carvana of positive net income.

"Five years ago, the year before we went public, we sold 18,000 cars in the full year. We just sold over five times that many in a single quarter," Carvana CEO Ernie Garcia remarked to analysts on a conference call.

Garcia added later on in the call, "I do think what characterizes this environment is you have very rapid vehicle price appreciation in both the wholesale market and the retail market. And it's unlike anything that I've at least ever seen in my career. So I think we've seen very dramatic price appreciation."

Here is how Carvana performed compared to Wall Street analyst forecasts for the second quarter:

Carvana shares rose 2% in Friday trading. The stock has been one of the best pandemic-related plays, with shares up nearly 100% over the past year. Shares of Carvana rival Vroom (VRM) have plunged 40% amid several operational miscues during the last 12 months.

Analysts generally stayed upbeat on Carvana's stock following the results, but several did point to a heightened valuation at current levels.

"While Carvana is uniquely positioned as the largest online used auto player with a significant first mover advantage and scale, risk/reward is balanced at current valuation," said Raymond James analyst Nicholas Bacchus in a research note to clients.

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Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Online car buying is booming, according to this auto dealer - Yahoo Finance

This article originally appeared on Simply Wall St News.

Sea Ltd's ( NYSE:SE ) share price is back at all time highs ahead of the company's second quarter results which are due next week. The stock price is up 650% since March 2020 and some 2,000% in the last 3 years. When a stock experiences such a big rally, there's always a risk that it has become overvalued. Its even more important to look at the valuation when a company isnt profitable, as is the case with Sea.

Sea Ltd is based in Singapore, and operates an online gaming platform, e-commerce sites, and a fintech platform. The company has experienced phenomenal growth in the last few years, with revenue growing nearly 20 fold since 2015.

See our latest analysis for Sea

When we estimate Seas fair value using analyst estimates for revenue and earnings, we come to a value of $300.71 a share. The current price of $296.95 implies a 1.2% discount which suggests the stock is trading at a reasonable valuation. Ideally, investors would like to buy growth stocks like Sea at a wider discount which would offer a 'margin of safety' and more potential upside.

NYSE:SE Fair Value Estimate August 10th 2021

As you can see from the chart below, revenue growth has actually accelerated in the last few years. Over the last five years, revenue growth has averaged 73% a year, but over the last 24 months it has accelerated to 130%. Having said that, there has been some volatility from one quarter to the next, so we shouldnt expect the trajectory to continue each and every quarter.

NYSE:SE Earnings and Revenue Growth August 10th 2021

Looking to the future, analysts are expecting top line growth of 87% this year, 47% in 2022 and 31% in 2023. Those estimates appear quite conservative compared to historical rates of growth. In the 12 months to March, Seas net income loss was $1.7 billion on revenue of $5.4 billion - so the profit margin is currently minus 32%, although the company is already generating free cash flow. The profit margin is expected to improve steadily until the company breaks even in 2023, which should be achievable if expenses rise at a slower rate than revenue.

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What this means for you:

Sea Ltd is growing rapidly, yet doesn't appear overvalued at the current price. However, this is a high beta stock which means we should expect periods of volatility, and these periods may offer an entry point with a wider discount to fair value.

Sea will be reporting second quarter results on 16 August and analysts are expecting a loss per share of 53 cents, compared to a loss a year ago of 68 cents. Revenue for the quarter is expected to be about $1.94 billion, up 50% from a year ago.

The company has historically beaten revenue estimates in most quarters and missed EPS estimates in most quarters, so it wont be surprising to see this repeated. Nevertheless, another miss on the bottom line might create some volatility and a better entry point.

The results will also allow analsysts to update their forecasts which may affect the valuation. If our estimated intrinsic value changes it will be reflected here .

If you want to dive deeper into Sea, you'd also look into what risks it is currently facing. Every company has risks, and we've spotted 2 warning signs for Sea you should know about.

If you are no longer interested in Sea, you can use our free platform to see our list of over 50 other stocks with a high growth potential

Simply Wall St analyst Richard Bowman and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Sea Ltd's (NYSE:SE) Valuation looks Reasonable Despite the Share Price rallying over 600% in the last 18 months - Yahoo Finance

There's a "crisis in investing education," according to mobile trading app Tornado's CEO and co-founder Bernard George.

"Every week, there are headlines about young investors, gambling on penny stocks and options, and even bankrupt companies. And our view is that the only way to really solve that problem is to make smart investing highly engaging, so it becomes that path of least resistance for people," George told Yahoo Finance Live on Tuesday.

With more time spent at home during the pandemic and the rise of no-fee trading, most notably Robinhood (HOOD), there's been an influx in first-time investors and traders.

However, George believes "the key question" for retail investors is "does your brokerage help you invest better?"

"And I think for a lot of investors, unfortunately, the answer is 'no,'" George added.

"[As] a lot of new investors enter the market, obviously there's a need for education and the ability to take that next step. And democratization of access to markets has been a wonderful, amazing thing. It's just left a lot of people in that state where they're looking for that next step, and how do I continue my journey towards becoming a better investor?"

According to George, Tornado's online brokerage centers around community through its social investing platform allowing for "meaningful conversation" with investors at all skill levels, curated and personalized educational content from "leading voices," and "world-class analytical tools." Tornado charges a $4.99 monthly subscription fee and allows for 25 commission-free trades, which creates "incentive alignment."

Tornado co-founder Bernard George

"[I] think because we've all learned over the past months and years, unfortunately, free trading isn't really free. It comes with a lot of conflict, and a lot of these brokerages, which rely on payment for order flow unfortunately have an incentive to direct users towards riskier, penny stocks and options, implicitly or explicitly. So, the brokerage model that we have with the subscription really does align the incentives with our community," George added.

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Tornado app

Initially founded in 2015 as Nvstr, the brokerage app rebranded last month as Tornado and announced a $10 million seed funding round led by former professional baseball player-turned-investor Alex Rodriguez, billionaire e-commerce entrepreneur Marc Lore, Barstool Sports founder Dave Portnoy, and New Enterprise Associates managing general partner Tony Florence. George noted that the seed investors bring a common thread of a "real passion for advancing financial wellness and investor education."

The proceeds from the seed round will go toward "scaling the platform tremendously in terms of the community" and "staying laser-focused" on the mission of "helping people take that next step in their journey towards becoming a better investor."

So far this year, George said Tornado has seen "a huge acceleration in growth and engagement," with a 68% increase in engagement rates on the platform.

"A lot of that I think is really telling of the appetite out there for content and community that helps you sort of take that next step in your journey towards becoming a better investor," he added.

Julia La Roche is a Correspondent at Yahoo Finance. Follow her on Twitter.

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Tornado CEO: There's a 'crisis in investing education' - Yahoo Finance

By Franca Quarneti via El Planteo.

Barack Obama, the former president of the United States, turned 60 and he celebrated with fancy decorations, friends and... marijuana!

The epic celebration took place on Saturday night at the Obama's mansion in Martha's Vineyard, Massachusetts and was attended by 300 exclusive guests, reported The Hill.

Beyonc, Jay-Z, H.E.R, John Legend, Chrissy Teigen, Gabrielle Union and Dwyane Wade, Trap Beckham, TJ Chapman and Erykah Badu were among the stars who gave the present, according to USA Today.

Leaked Images And Giant Blunts

Despite strict rules prohibiting the release of images on social media, some guests such as rapper Trap Beckham, singer Erykah Badu and manager TJ Chapman showed photos of the menu and decor. The snapshots showed napkins embossed with the text "4460" in gold lettering.

Why? Because Obama was the 44th president of the United States and because he turned 60.

Among the leaked photos, Trap Beckham and TJ Chapman could be seen smoking huge marijuana blunts. It is that, in the state of Massachusetts, the consumption of cannabis is legal.

"I had to delete everything because of the regulations. It was decidedly epic. If the videos transcended, they would go viral. He danced the whole time. No one has ever seen Obama like that before," Beckham commented on his social media.

However, the former president was harshly criticized for the lack of masks at his party and for the number of guests (originally there were 475 attendees, but the number was reduced due to the spread of the Delta variant of the coronavirus).

Photo: History in HD va Unsplash

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Happy Birthday Mr. President: Barack Obama Celebrated His 60th With Celebrities... And Weed! - Yahoo Finance

Rihanna has entered the billionaires club.

According to Forbes, the 33-year-old is now worth a whopping $1.7 billion making her the wealthiest female musician, and second only to Oprah Winfrey, as the richest female entertainer.

Although many know Rihanna for her music from hit singles "Umbrella" and "Where Have You Been" to "We Found Love" and "Work" she actually achieved the bulk of her income through her fashion and beauty brands.

Fenty Beauty, which launched in 2017, has contributed the most to the singer's wealth an estimated $1.4 billion, Forbes said.

The cosmetics company gained instant fame for its inclusivity of all skin tones, generating more than $550 million in annual revenue in its first calendar year. At the time, Fenty Beauty was one of the first (and most notable) brands to introduce a variety of foundation shades, and was especially popular among women of color.

The brand, currently sold online and at Sephora locations nationwide, is a 50-50 joint venture between Rihanna and fashion powerhouse LVMH (LVMUY) the conglomerate behind luxury brands like Christian Dior and Louis Vuitton.

In recent years, there's been an explosion of celebrity beauty brands with Kim Kardashian, Kylie Jenner, Jessica Alba and Lady Gaga all putting their names behind big makeup and skincare lines.

However, Rihanna is the most successful among the A-list pack, according to Forbes.

LOS ANGELES, CALIFORNIA - OCTOBER 1: Rihanna attends the second press day for Rihanna's Savage X Fenty Show Vol. 2 presented by Amazon Prime Video at the Los Angeles Convention Center in Los Angeles, California; and broadcast on October 2, 2020.

Besides Fenty Beauty, Rihanna also heads a successful fashion and lingerie company, Savage X Fenty.

Launched in 2018, the brand recently raised $115 million in funding bringing its valuation to over $1 billion. Rihanna maintains a 30% ownership stake, Forbes estimates.

The singer's success speaks to the larger story of female entrepreneurs, especially within Hollywood.

On Monday, Oscar-winning actress Reese Witherspoon reached an agreement to sell her production house Hello Sunshine to a Blackstone-backed media company. The New York Times said the deal valued Hello Sunshine at roughly $900 million.

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Meanwhile, Kim Kardashian was crowned a billionaire in April.

Forbes listed the reality star in its annual "World's Billionaire List" report, citing her lucrative businesses, KKW Beauty and loungewear company Skims, as catalysts for her billionaire status, in addition to extra cash from her reality series "Keeping up with the Kardashians" and endorsement deals.

Alexandra is a Producer & Entertainment Correspondent at Yahoo Finance. Follow her on Twitter @alliecanal8193

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Rihanna enters billionaires club but it's not her music that got her there - Yahoo Finance

This article was originally published on Simply Wall St News

As you might know, Facebook, Inc. ( NASDAQ:FB ) just posted their latest second-quarter results with some very strong numbers. When looking at the company, three things come to mind. The "sell high" part from the clich phrase "buy low, sell high", diminishing future growth rates, and very high margins.

Let's open up with margins, because when you look at them, they are quite hard to wrap one's head around:

ebit-margin-ttm

From the chart above, we can see that Facebook has been regaining profitability in the last two years, this seems to be due to daily active user growth on a global scale, an increase of average dollars per user and the general expansion in Asia Pacific and the rest of the world.

You will also notice, that below I start making some quite pessimistic points, I would however, like to comment that Facebook has impeccable free cash flows, and on-point cash outflows regarding investing and financing. They prioritize R&D spending, which is exactly what investors would like to see in a tech company : Heavy capital and research & development investments. On a qualitative note, their advertisement platform has improved in functionality and efficacy quite a bit from a year ago, and their global reach has stayed in a leading position with the contributions from Instagram and WhatsApp.

Now let's see how Facebook has been growing thus far and what challenges lie ahead.

fb-daily-active-users

The chart above is interesting as it already showcases the stagnation of US and European daily user growth. You can find these results in their Q2 quarterly report. Facebook's CFO comments that there might be a bump in the future:

"In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis... (We) expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates, which we expect to have a greater impact in the third quarter..."

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What we can incorporate from this, is that US and EU revenues will be under pressure, as iOS users will be given a choice to turn tracking on and off, which is estimated to diminish the returns from advertising. It won't be directly impacted per se, it's the ad targeting algorithm that is under threat, and Facebook will have to find a different heuristic or alternative approach to increase advertising revenue per user. US and EU users are particularly important, because they bring in US$51.5 and US$17.2 respectively per user, versus the world average of US$9.95.

This is partly the reason why the stock may be approaching a peak - Yes, there is still upside, but investors are now involved with a timing issue as the primary question starts being "When?", rather than "If?".

Now, we will take a step back and put history in context with analysts forecasts for the future.

Q2 earnings represented an overall positive result, with revenues beating expectations by 4.2% to hit US$29b. Facebook also reported a statutory profit of US$3.61, which was an impressive 20% above what the analysts had forecasted.

View our latest analysis for Facebook

earnings-and-revenue-growth

Following the latest results, Facebook's 45 analysts are now forecasting revenues of US$119.2b in 2021. This would be a meaningful 14% improvement in sales compared to the last 12 months. Statutory earnings per share are predicted to increase 2.9% to US$14.09.

The analysts reconfirmed their price target of US$414.

Facebook is and continues to be a high margin, cash delivery company. However, the financial market is a forward-looking weighing machine, and the future suggests a possible change in direction.

The company is stable and competently managed. Future challenges imply a revision of advertising practices, discovering new heuristics or improving on the existing algorithm, delivering further growth from the developing world and maintaining user engagement without sacrificing on margins.

For investors that had a very good run thus far, it is hard to ask for pause, but the past does not dictate, and I post two "common sense" questions:

Will the future bring more people to Apple's iOS? (look at the performance of the new iPhone)

When talking to people, are they bragging or trying to hide their time spent on any of Facebook's platforms?

The consensus price target held steady at US$414, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Facebook going out to 2023, and you can see them free on our platform here.

Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Facebook's (NASDAQ:FB) US and EU Growth has Peaked and Advertising Revenue is under Pressure from Competitors - Yahoo Finance

BARCELONA Initially hailed as the vaccine for the world when it appeared on European shores early this year, the Oxford/AstraZeneca COVID inoculation, which was created in just 65 days and costs around $2 a dose, far below competing shots made by Pfizer and Moderna, held the promise of turning the tide on the pandemic.

But after eight months of mounting frustration over still undelivered doses along with worries over rare associated blood clots, studies showing that it wasnt as effective as other vaccines and a court action alleging the drug company was in breach of contract, the European Union is all but ditching the shot.

The story behind the AstraZeneca vaccines European sojourn has been rife with putdowns, broken promises, rancor and vaccine nationalism that at times looked like it would turn into an export war between the EU and the U.K., the country that at the end of 2020 Brexited leaving the European Union it helped create.

Even before AstraZenecas shot came to market, Russian officials were indulging in crudely comical insults, calling it the monkey vaccine. (Kremlin spokesman Dmitry Peskov claimed in September that, unlike Russias vaccine Sputnik V, the AstraZeneca drug, which is derived from a chimpanzee adenovirus, would turn those who got it into simians.)

Such narratives are apparently directed at countries where Russia wants to sell its own vaccine, EU official Joseph Borrell said in blog post about what he considered to be Russian disinformation.

Empty vials of the AstraZeneca COVID-19 vaccine. (Matthias Schrader/AP)

But there were more credible sources of criticism from the start. Dr. Anthony Fauci made waves in November, saying AstraZenecas vaccine presented a dilemma: While preliminary studies showed the Pfizer and Moderna vaccines provided protection against COVID-19 by upwards of 90 percent, AstraZeneca appeared to have efficacy rates around 70 percent higher than the 50 percent deemed necessary for vaccines to work, but relegating it to runner-up status compared to the mRNA vaccines.

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Who are you going to give a vaccine like that to? Fauci asked, and he and his colleaguesat the National Institutes of Health questioned the data included in AstraZenecas clinical studies submitted in the U.S., effectively telling them to try again.

The original clinical studies confusingly employed trials using two dosing schedules and two different doses of the drug. The larger trial, among the studies which AstraZeneca submitted to the U.K., showed efficacy of 60 percent and in late December was swiftly granted emergency use approval. Following suit, the European Medicines Agency also approved its use for all adults in the EU while noting that the trials did not include enough results in participants over 55 years of age. But the health authorities in a dozen European countries, including Germany and France, refused to grant the vaccine approval for anyone over the age of 65, a decision that quickly led to confusion and mistrust. The German newspaper Handelsblatt incorrectly reported that the vaccine was only 8 percent effective for those 65 and older, a rumor that spread.

In January, French President Emmanuel Macron dealt another blow, erroneously calling the AstraZeneca vaccine quasi-ineffective for people over 65, some say those 60 years or older. Though he did reverse that assessment a month later, the damage was done. The French, who were given a choice as to which shot they wanted, were choosing Pfizer over AstraZeneca in far greater numbers a situation which prompted the head of Frances doctors union to urge the French to stop AstraZeneca bashing.

British Prime Minister Boris Johnson receives his second dose of the AstraZeneca vaccine, June 3, 2021. (Matt Dunham/Pool via AP)

Adding to AstraZenecas woes, the company had promised to ship 90 million doses of the vaccine to the EU in the first quarter of 2021, but less than a third of that number showed up. As a result, the continents vaccine program for its 445 million citizens looked pathetic, particularly in comparison to the U.K., which appeared to be swimming in the British-made immunization.

AstraZeneca has unfortunately underproduced and underdelivered and this painfully, of course, reduced the speed of the vaccination campaign, Ursula von der Leyen, president of the European Commission, announced in March, promising that whatever it took, the EU would get its fair share of the AstraZeneca inoculation.

By March, less than 10 percent of Europeans had been vaccinated, while the U.K. was approaching 45 percent immunization levels. And then Germany reported that of the 2.7 million Germans who had received the AstraZeneca vaccine, 31 people, most of them young women, had developed rare blood clots, and nine had died.

Countries across Europe slammed on the brakes, suspending use until the European Medicines Agency investigated. The EMA soon reported that while there appeared to be a link to blood clots, the risk was minimal and certainly less than the danger of COVID-19 itself. However, health authorities in Germany, Italy, Spain, Belgium and beyondthat had earlier advised the shot shouldnt be used in those over 55 or 65, in March reversed their positions and said the vaccine should now be used only for those over 60. Those flip-flops further undermined public trust. (A recent study found that both AstraZeneca and Pfizer vaccines could both produce blood clots, but that COVID-19 produced more clots than either vaccine.)

That month, health authorities in Denmark, then Norway, followed by Austria in May stopped using AstraZeneca altogether, while those countries that were relying on it continued to experience shortages due to delivery delays; Spain, for one, was forced to temporarily halt its vaccination programs. AstraZeneca revised second-quarter delivery estimates downward from 180 million doses to just 70 million.

Upon learning that some AstraZeneca vaccines were being made in Europe and exported to other countries, the EU threatened to ban exports and raided a plant in Belgium in February and another in Italy in March, generating more embarrassing headlines and doing little to alleviate supply shortages.

People receiving the AstraZeneca vaccination in Cologne, Germany on May 8, 2021. (Martin Meissner/AP)

In May, after signing eight additional contracts with other pharmaceutical countries, the EU announced it would be taking AstraZeneca to court, and demanded 90 million more doses by July and $12 million in damages for delayed deliveries. AstraZeneca, which called the suit unfounded, countered that it had lived up to its contractual obligation to make the best reasonable effort to deliver the doses.

Ruling in June, the court largely sided with AstraZeneca, saying the drugmaker was obliged to deliver only 50 million more doses to the EU by September. By then, after 65 million EU citizens had been vaccinated with AstraZeneca, the EU was fed up; it declined to put in additional orders with the British-Swedish firm and across the continent, health authorities began phasing out the drugs use.

Along with other European countries, Germany announced that it would start mixing vaccines, a practice currently not approved by the World Health Organization. The first AstraZeneca shot that German Chancellor Angela Merkel received was followed up by a dose of Modernas mRNA vaccine, a practice that Germanys health minister said yielded clearlysuperior results than two doses of AstraZeneca. Italian Prime Minister Mario Draghis AstraZeneca jab was followed up with a shot from Pfizer. Overlooking pleas from the WHO to forestall booster shots until poorer countries are immunized, Germany will offer a third shot of an mRNA vaccine in September to elderly and immune-compromised citizens and to those who received two shots of AstraZeneca.

On the heels of learning that the EU will now be relying on mRNA vaccine, Pfizer and Moderna both announced price hikes. As reported by Financial Times, Pfizers price per shot is jumping to around $23 from $18.50, while Modernas is increasing to around $25.50 a jab from $22.60.

Meanwhile, millions of doses of AstraZenecas shots from European countries are being donated to COVAX and to low-income countries, where health officials say it can still help defeat the pandemic.

Boxes of AstraZeneca COVID-19 vaccine arrive at the airport in Mogadishu, Somalia, on March 15, 2021.(Farah Abdi Warsameh/AP)

The AstraZeneca vaccine has the potential to be the real workhorse of immunization programs, Jonathan Kennedy, a public health lecturer at Queen Mary University of London, told Yahoo News. Its cheaper than the other vaccines, and its easy to transport. And without the extreme temperature requirements of mRNA vaccines such as Pfizer, which is kept at 94 degrees below zero Fahrenheit, he added, Its easy to store.

With only 1.1 percent of populations in low-income countries having received at least one shot, the WHO is now calling for vaccinations of at least 10 percent of the population of every country in the world by September, at least 40 percent by the end of the year, and 70 percent by the middle of next year, Dr. Siddharta Datta, regional adviser to the WHO/Europes Vaccine-Preventable Disease program, told Yahoo News. These are the critical milestones we must reach together to end the pandemic, and AstraZeneca vaccine doses together with the other available and approved vaccines will indeed play an important role in achieving them.

Earlier this summer, the EU announced it wouldnt be ordering any more of the AstraZeneca vaccine, and countries across the continent say they have begun donating unused vials to COVAX, a global coalition that distributes vaccines to countries around the world.

British media is portraying Europe as having squandered its AstraZeneca riches, while some politicians are accusing the EU of making a scapegoat of AstraZeneca to cover up their own failures.

The European leaders who trashed the AstraZeneca vaccine have blood on their hands, one unidentified politician, concerned that other countries may now reject it, is quoted as telling Politicos London Playbook.

A Malawian policeman guards AstraZeneca COVID-19 vaccines after a shipment arrived at the Kamuzu International Airport. (Thoko Chikondi/AP)

As of this month, the AstraZeneca shot makes up some two-thirds of the vaccines being supplied by COVAX, doses donated by countries and some donated by the drug maker itself.

AstraZenecas vaccine is highly effective against severe disease and hospitalization across all adult age groups, a spokesperson for the drug company told Yahoo News. It has demonstrated a high level of protection against all variants of concern and its overall safety profile is comparable to other vaccines.

Our vaccine is being supplied at no profit and is truly a vaccine for the world, the AstraZeneca spokesperson continued. We have now crossed the 1 billion dose milestone supplying more than 170 countries, and those doses have helped to save tens of thousands of lives. We are doing more than any other company to make the vaccine available to low- and lower-middle-income countries, as it is only through providing broad and equitable access to vaccines that we can end this pandemic.

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How Europe soured on the AstraZeneca vaccine - Yahoo News