Business
A bit of both: Most employees want hybrid work

A bit of both: Most employees want hybrid work

5/17/22 7:00PM

The future of work

Every week new tensions crop up at companies — big and small — all around the world over one key question: what's the right balance between fully in-office and fully at-home for employees?

I want to WFH (sometimes)

We've summarized the conclusions of a great survey from Gallup in the chart above, and the conclusions are pretty straightforward — most people want a little bit of both.

Pre-pandemic, just 8% of remote-capable jobs were actually done exclusively from home, a proportion that has jumped almost 5x, to 39%, as of February of this year.

But interestingly, most employees surveyed — 59% to be exact — would actually prefer a hybrid working arrangement, which is more than the 32% that would like to be exclusively remote, and way ahead of the 9% that would like to be fully on-site.

Go deeper: check out the Gallup study.

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Palantir reportedly invested in a space firm planning an IPO

Space company Voyager Technologies has confidentially filed for an initial public offering, according to the WSJ. The Colorado-based company, which is one of many firms developing a commercial space station with NASA funding, announced a strategic partnership with Palantir Technologies last year.

The Journal also notes, without providing much detail, that Palantir is an investor in Voyager. Palantir hasn’t mentioned an investment stake in the company in previously disclosed SEC filings, though in its most recent quarterly report it noted that it owned roughly $53 million in equity securities in privately held companies as of the end of September.

business

Moderna shoots higher on AI hopes

Moderna’s share price spiked up about 10% on Wednesday after Oracle Chairman Larry Ellison said artificial intelligence has the potential to make personalized vaccines to detect and prevent cancer.

Ellison made those remarks at a White House event announcing Stargate, a $500 billion AI infrastructure joint venture. Moderna, while not specifically named by Ellison, is a leading maker of mRNA vaccines and has been developing jabs to treat melanoma, a certain type of skin cancer. The drugmaker has previously said it used AI to develop individualized cancer treatments.

The AI hype also follows a $590 million grant from the Department of Health and Human Services to develop a bird flu vaccine announced Friday after market close. The company, which had struggled to keep up with investor expectations after its Covid vaccine revenue dried up, has seen its stock price shoot up almost 12% in the past week.

This week has also seen an abrupt shift in options market activity. Typically, nearly twice as many puts (options that benefit from a fall in the stock price) tied to Moderna have changed hands relative to calls (the opposite of puts) over the past month.

But call volumes were higher than puts on Tuesday, the first trading day after news of the grant surfaced. In a stark reversal of recent history, nearly 3x as many bullish contracts have traded relative to bearish ones as of 10:35 a.m. ET on Wednesday.

The AI hype also follows a $590 million grant from the Department of Health and Human Services to develop a bird flu vaccine announced Friday after market close. The company, which had struggled to keep up with investor expectations after its Covid vaccine revenue dried up, has seen its stock price shoot up almost 12% in the past week.

This week has also seen an abrupt shift in options market activity. Typically, nearly twice as many puts (options that benefit from a fall in the stock price) tied to Moderna have changed hands relative to calls (the opposite of puts) over the past month.

But call volumes were higher than puts on Tuesday, the first trading day after news of the grant surfaced. In a stark reversal of recent history, nearly 3x as many bullish contracts have traded relative to bearish ones as of 10:35 a.m. ET on Wednesday.

Netflix new subscribers chart

Netflix added 18.9 million subscribers, the company’s best-ever quarter

After building a huge subscriber lead over competitors like Disney, this is the last time Netflix will break out its user figures.

business

MrBeast, the internet’s highest-earning content creator, is bidding for TikTok

On January 13, MrBeast — YouTube’s most successful purveyor of clickbait videos like “Ages 1 - 100 Fight For $500,000” — joked in a post on X that he’d buy TikTok to save it from getting banned.

But now he’s serious.

On Tuesday, CNN reported that the online star, whose real name is Jimmy Donaldson, was part of an American group of investors assembled by Employer.com founder and CEO Jesse Tinsley. The consortium, made up of “institutional investors and high-net-worth individuals,” has submitted an all-cash bid, a spokesperson for the group said.

On Tuesday, CNN reported that the online star, whose real name is Jimmy Donaldson, was part of an American group of investors assembled by Employer.com founder and CEO Jesse Tinsley. The consortium, made up of “institutional investors and high-net-worth individuals,” has submitted an all-cash bid, a spokesperson for the group said.

business

J&J beats Wall Street’s estimates on cancer-meds sales

Johnson & Johnson surpassed Wall Street estimates for its last quarter of 2024 in large part because of growth in sales of its cancer-treating drugs. 

The company brought in $22.5 billion in revenue and $4.8 billion in net income in its last quarter, coming in slightly higher than estimates from analysts polled by FactSet. Despite beating estimates, J&J is down roughly 1.6% in premarket trading.

Sales for its cancer-treating drugs Drazalex and Erleada were up more than 20% year over year, at $3 billion and $784 million respectively. 

This comes right as generics for J&J’s blockbuster psoriasis drug Stelera entered the market in Canada and Europe. Sales for Stelera fell by 14.7% compared to the same point last year. 

J&J announced last week that it would acquire drugmaker Intra-Cellular Therapies for $14.6 billion. That deal will add Caplyta, a drug that treats mental-health disorders and whose patent doesnt expire until 2040, to its portfolio.

Sales for its cancer-treating drugs Drazalex and Erleada were up more than 20% year over year, at $3 billion and $784 million respectively. 

This comes right as generics for J&J’s blockbuster psoriasis drug Stelera entered the market in Canada and Europe. Sales for Stelera fell by 14.7% compared to the same point last year. 

J&J announced last week that it would acquire drugmaker Intra-Cellular Therapies for $14.6 billion. That deal will add Caplyta, a drug that treats mental-health disorders and whose patent doesnt expire until 2040, to its portfolio.

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