CDC Asks States To Be Ready For Covid-19 Vaccine Distribution By Nov.1

Bahrain sells $2 billion in sukuk and bonds – document

DUBAI, Sept 9 (Reuters) – Bahrain sold $2 billion in a dual-tranche bond deal comprising seven-year sukuk and 12-year conventional bonds on Wednesday, its second international debt sale this year, a document showed.

Bahrain sold $1 billion in sukuk at 3.95% and $1 billion in 12-year bonds at 5.45% and received more than $7.6 billion in combined orders for them, the document from one of the banks arranging the deal showed.

Stock Alert: Watford Holdings Surges 40% On News Of Acquisition

Shares of Watford Holdings Ltd. (WTRE) are currently gaining over 40% on Wednesday morning on reports that a consortium led by Arch Capital has made a $500 bid to acquire the company.

WTRE is currently trading at $24.85, up $6.98 or 39.06%, on the Nasdaq.

A consortium led by Bermuda-based re/insurer Arch Capital Group has put forward a $500 million offer to buy Watford Holdings, according to a report by Reuters.

Watford has lost about a third of its value since it went public last year. Activist investor Capital Returns Management LLC had asked in May for Watford to be sold.

Arch has partnered with private equity firms to offer about $26 per share for Watford, the report said.

Stock Alert: MasterCraft Boat Slips 18%

Shares of recreational powerboats maker MasterCraft Boat Holdings, Inc. (MCFT) are down more than 18% Wednesday morning despite reporting narrower-than-expected loss.

In the fourth quarter, the company reported adjusted loss of $0.10 per share compared with adjusted earnings of $0.85 per share last year. On average, 5 analysts polled by Thomson Reuters expected the company to report loss of $0.26 per share for the quarter.

Net sales for the fourth quarter decreased 58.4 percent year-over-year to $51.1 million due to lost production as a result of the COVID-19 shutdowns and supplier and workforce ramp up. The consensus estimate was for $36.82 million.

For the first quarter, the company expects net sales to be down in the low-to-mid-teens percent range year-over-year. The consensus estimate is for 15% decline.

MCFT is currently trading at $18.40. It has traded in the range of $4.90- $23.53 in the last 52 weeks.

Stock Alert: Tiffany Tumbles 10% After Filing Lawsuit Against LVMH

Shares of Tiffany & Co. (TIF) are losing more than 10 percent or $12.54 in Wednesday’s morning trade at $109.27 after the luxury jewelry brand filed a lawsuit against French luxury products maker LVMH Mot Hennessy-Louis Vuitton SE (LVMHF.PK, LVMUY.PK) to enforce the merger agreement between the two companies. LVMH said it will not be able to complete the Tiffany acquisition.

Tiffany said Wednesday it has filed a lawsuit in the Court of Chancery of the State of Delaware against LVMH. Among other things, the lawsuit is seeking an order requiring LVMH to abide by its contractual obligation under the merger agreement dated November 24, 2019 and complete the transaction on the agreed terms. The transaction had an equity value of about 14.7 billion euros or $16.2 billion.

Tiffany & Co. has traded in a range of $86.39 to $134.42 in the past 52 weeks.

Microchip: Q2 Tracking In Line With Original Expectations; Narrows Guidance

Microchip Technology Incorporated (MCHP) narrowed the range of its prior guidance for net sales and earnings per share for second quarter. Non-GAAP earnings per share is expected to be between $1.36 and $1.46. The previous guidance was for non-GAAP earning per share between $1.30 and $1.52.

Microchip now expects second quarter net sales to be down between 2% and 6% sequentially with an unchanged mid-point of down 4%. The prior guidance was for net sales to be flat to down 8% sequentially, with a midpoint of down 4%.

“The September 2020 quarter is tracking in line with our original expectations, allowing us to narrow our net sales and earnings per share guidance after completing the first two months of the quarter,” said Steve Sanghi, CEO.

LVMH Announces Board Decision On Tiffany Deal – Quick Facts

LVMH Moët Hennessy Louis Vuitton (LVMHF.PK,LVMUY.PK) said it will not be able to complete the acquisition of Tiffany & Co. The Board of LVMH has decided to consider a letter from the French European and Foreign Affairs Minister directing the Group to differ the acquisition until after January 6th, 2021. The Board also considered Tiffany & Co.’s request to extend the outside date in the merger deal from November 24th to December 31st, 2020.

The Board noted that the merger agreement provides, in any event for a closing deadline no later than November 24th, 2020, and the Group LVMH will therefore not be able to complete the acquisition.

Terminally ill Frenchman Alain Cocq eats again after death vow

LYON (AFP) – A Frenchman stricken by a terminal illness on Wednesday (Sept 9) said he had decided to eat again, after vowing to starve himself to death in a closely-watched right-to-die case.

“I did not have the capacity for the fight anymore,” Alain Cocq told AFP from his Dijon hospital.

He had planned to live stream his death on Facebook, but the tech giant blocked it at the weekend.

Cocq said he had been fed with his permission and could go home in the next 10 days.

CDC Asks States To Be Ready For Covid-19 Vaccine Distribution By Nov.1

The U.S. Centers for Disease Control and Prevention has told states to get ready to distribute a potential vaccine against coronavirus by November 1, just ahead of the presidential election, US media reported.

The federal health agency is also reportedly asking health officials in all 50 states to get rid of red tape that would prevent distribution sites from opening.

“For the purpose of initial planning, CDC provided states with certain planning assumptions as they work on state specific plans for vaccine distribution, including possibly having limited quantities of vaccines in October and November,” Reuters quoted a CDC spokeswoman as saying.

As per a New York Times report, CDC is preparing for at least one COVID-19 vaccine for distribution in limited quantities by the end of October.

As multiple companies are in a race to bring out their vaccine against coronavirus, President Donald Trump is said to be in a hurry to roll out one for certain groups before it has been fully tested to take advantage from it in the election.

U.S. voters go to the polls on November 3.

Health experts have already expressed concerns over rushing through a vaccine with safety compromised.

Top Democrat Senator Chuck Schumer accused the CDC and the Food and Drug Administration of yielding to “political interference from the Trump Administration (which) as impacted the agencies’ work in response to Covid-19.”