🧪 Free Covid tests

Overnight shipping = unavailable… Yesterday President Biden announced plans to distribute 500M free at-home Covid tests — nearly two per American. People will be able to order the rapid tests online next month. Test makers including Abbott and Quest Diagnostics could benefit. Biden also plans to deploy 1K military troops to overwhelmed hospitals to prep for an Omicron wave. Hospitalizations in several states more than doubled over the past two weeks.

• The first US Omicron case was detected less than a month ago, but the variant already represents nearly three-fourths of Covid cases in the country.
• Omicron is believed to be less severe but more contagious than previous variants, based on early data. Mild cases may be easy to miss, so regular testing is key.
• Pfizer and Moderna say their vaccines, coupled with boosters, seem to prevent Omicron infections. But research suggests J&J and AstraZeneca aren’t successful — though they still appear to provide significant protection against serious illness.

Cancel the fireworks… 3X more Americans plan to fly this holiday season compared to last, which could also increase transmission. Omicron’s spread isn’t expected to reduce holiday travel. But several governments and organizations have tightened IRL restrictions. Just a few:

• 50+ countries (including the US) have upped Omicron-related travel restrictions, and many European cities have restarted outdoor-mask mandates.
• Schools across the US have temporarily returned to remote learning, and pro sports leagues — including the NBA, NFL, and NHL — rescheduled games.

• Truck: Electric-truck maker Nikola agreed to pay the SEC $125M to settle charges that it defrauded investors by exaggerating the readiness of its tech (e.g.: the infamous truck-rolling-down-a-hill promo). It’s the latest example of regulators cracking down on SPACs.
• Flated: Striking Kellogg workers sealed a contract that included a cost-of-living adjustment, or COLA. As prices soar, cost-of-living raises are gaining steam to protect workers. The catch: They could make inflation worse.
• Cheerios: General Mills shares fell 4% after the cereal icon disappointed on quarterly profit (thanks, inflation), though it raised its sales forecast for the year as at-home snacking continued.
• Thrifty: Rite Aid said it planned to close at least 63 drugstore locations in the coming months as it reassesses its brick-and-mortar strategy to cut costs.
• Warn: Consumer goods giant Procter & Gamble recalled dozens of Pantene and Herbal Essences dry shampoos and conditioners over concerns that they could contain the cancer-causing chemical benzene.
• Mickey: Former Disney CEO Bob Iger says Disney+ needs to appeal to a broader audience to reach its goal of 230M subscribers by 2024 — double what it has now. Next: Catering beyond kids and nostalgic millennials.

• Earnings expected from: Cintas, Paychex, and CarMax

Authors of this Snacks own: Bitcoin and shares of Moderna, Pfizer, Disney, Nikola, Spotify, and Apple

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