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New York Gov. Andrew Cuomo holds a press briefing on Covid pandemic

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New York Gov. Andrew Cuomo is scheduled to hold a press briefing Friday on the coronavirus pandemic as the state continues to push forward with its vaccination efforts.

On Thursday, the Democratic governor’s office said that vaccine distribution sites have administered 93% of the first Covid-19 vaccine doses they’ve received, and 91% of the first and second doses. Both drugs from Pfizer and Moderna require two doses spread weeks apart.

Cuomo said the state has ramped up how many shots it’s able to give in a day, but now officials are concerned that they’ll run out of shots if the federal government doesn’t send more.

“We are racing to administer the vaccine as quickly as possible while doing everything we can to reduce the infection rate. We’ve made progress on both fronts since the post-holiday surge but there’s a long way to go before we reach the light at the end of the tunnel,” Cuomo said in a statement.

Read CNBC’s live updates to see the latest news on the Covid-19 outbreak.


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Ford, IBM, Intel and Seagate

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IBM’s logo seen displayed on a smartphone.

Rafael Henrique | SOPA Images | LightRocket | Getty Images

Check out the companies making headlines in midday trading.

Ford — Shares of the U.S. automaker dipped about 1%, retreating from an all-time high hit in the previous session. The stock jumped 6.2% Thursday following positive comments from Deutsche Bank and Barclays on Ford’s product plans and reporting of fourth-quarter earnings on Feb. 4. JPMorgan also upgraded Ford to overweight from equal weight on Friday. The stock has rallied more than 16% this week, on pace for its best week since June.

IBM — Shares of IBM sank 10% following its earnings report that showed a decline in revenue larger than analysts expected. IBM made $20.37 billion in revenue in the fourth quarter, missing estimates of $20.67 billion, according to Refinitiv. Earnings, however, topped estimates.

Intel — Shares of the chipmaker tumbled more than 8% despite the company’s better-than-expected results for its fourth quarter. Intel generated $1.52 in adjusted earnings per share on $20 billion in revenue, beating Wall Street expectations of $1.10 per share and $17.49 billion in revenue, according to Refinitiv. Part of the equity price decline was a reversal of a late-session spike on Thursday that followed an early release of Intel’s results.

CSX Corp. — Shares of the railroad company slid more than 2% despite CSX beating top and bottom line estimates during the fourth quarter. The company reported $1.04 in profit per share on an adjusted basis, which was 3 cents above consensus forecasts. Revenue came in at $2.83 billion, which was ahead of the expected $2.77 billion, according to estimates from FactSet.

Seagate Technology — Seagate shares dropped nearly 6% in midday trading despite decent earnings results. The downward pressure is likely thanks in part to the already-high expectations analysts and investors had for the company ahead of its quarterly report. Wedbush analyst Matt Bryson wrote Friday morning: “Net, without a clear driver of near- term upside, or certainty around a longer term technological advantage, we are maintaining our Neutral view on the name.”

PPG Industries — The paint maker’s stock also dropped in midday trading notwithstanding profit and sales that topped expectations for the fourth quarter. Atlantic Equities analyst Sam Hudson noted that the company failed to provide fiscal-year 2021 guidance and wrote that a recent spike in raw materials costs could impact its second quarter results.

— CNBC’s Pippa Stevens, Yun Li, Maggie Fitzgerald and Jesse Pound contributed reporting


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TGI Fridays CEO says ending the tipped minimum wage would boost prices

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TGI Fridays CEO says ending the tipped minimum wage would boost prices