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President Joe Biden arrives at Ellington Field Joint Reserve Base in Houston, Texas, United States on February 26, 2021.

Jonathan Ernst | Reuters

President Joe Biden told Congress on Saturday that the air strikes he ordered this week in Syria were in line with the U.S. right to self-defense, as members of his own party demanded more transparency about why military action was taken without the approval of the Congress were taken.

“The United States has taken this action in accordance with the United States’ right of self-defense contained in Article 51 of the United Nations Charter,” wrote Biden in a letter to House Speaker Nancy Pelosi and Senate President Patrick Leahy.

Biden on Thursday ordered air strikes against facilities in eastern Syria that Iranian-backed militias are using, according to the Pentagon. The Department of Defense said several facilities at a border checkpoint were destroyed and there were casualties, but did not provide additional information.

These strikes were in response to a February 15 attack in which missiles struck Erbil International Airport in northern Iraq, where a coalition military base is located. The attack killed a civilian contractor from the US-led military coalition and injured several others, including an American service member.

“I led this military action to protect and defend our personnel and partners from these attacks and future such attacks,” Biden wrote in his letter on Saturday.

The letter comes after some Senate Democrats pushed back over the strikes against Biden, asking him to provide information on why military action was taken without the approval of Congress. According to the resolution of the armed forces, presidents must inform Congress within 48 hours of taking military action. In the letter, Biden cited his constitutional authority as Commander-in-Chief.

“I conducted this military action consistent with my responsibility to protect the citizens of the United States at home and abroad and to advance the national security and foreign policy interests of the United States, under and as my constitutional authority to conduct United States external relations Commander in Chief and Chief Executive, ”wrote Biden.

According to a spokesman for the National Security Council, the Pentagon briefed Congress leaders ahead of the military strikes. House spokeswoman Nancy Pelosi was also notified ahead of the strike, according to a Democratic adviser.

Iran condemned the US air strikes on Saturday and declined responsibility for the rocket strikes on US targets. Iranian Foreign Minister Mohammad Javad Zarif said the US strikes were “illegal and a violation of Syrian sovereignty,” according to Iranian state media reports.

– CNBC’s Christian Nunley and Reuters contributed to this report.

The Food and Drug Administration has approved Johnson & Johnson’s Covid-19 vaccine for emergency use. This gives the US a third tool to fight the pandemic as highly contagious variants are gaining a foothold across the country.

With the FDA’s approval for the emergency on Saturday, the federal government’s plan begins to distribute nearly 4 million doses of J & J’s vaccine to states, pharmacies and community health centers across the country next week. Unlike Pfizer and Moderna vaccines, patients with the single dose of J&J do not need to take a second dose and can be stored at refrigerator temperature for months.

J & J’s vaccine “makes it easier to use in many contexts,” said Dr. Nancy Messonnier, director of the National Center for Immunization and Respiratory Diseases of the CDC, told the Journal of the American Medical Association during a question and answer session Friday. “I suspect that much of the national health consideration given to these vaccines is more about the ease of use of the J&J vaccine and how it might be better suited to some populations.”

Initially, doses would be limited, J&J said. The company expects to drop 20 million doses by the end of March, said Dr. Richard Nettles, vice president of medical affairs in the US, told the House legislature on Tuesday. J&J has signed a contract with the US government to supply 100 million doses of its vaccine by the end of June. US officials say they are working with the company to increase supply as soon as possible.

In the past few weeks, US health officials have urged Americans to get vaccinated as soon as possible. Officials are increasingly concerned about new, emerging variants of the virus, particularly strain B.1.351, which has been shown to decrease the effectiveness of vaccines both in market and in development. On Friday, the head of the Centers for Disease Control and Prevention, Dr. Rochelle Walensky, the declines in Covid-19 cases reported in the US since early January could flatten as the variants spread.

J&J submitted its Covid vaccine data to the FDA on February 4th. The vaccine’s level of protection varies from region to region, J&J said, with the shot showing an effectiveness of 66% overall, 72% in the US, 66% in Latin America and 57% in South Africa, where variant B.1.351 is spreading rapidly. However, FDA documents show that the vaccine was 64% effective in South Africa after about a month. The company said the vaccine prevented 100% of hospital stays and deaths.

The Pfizer vaccine was found to be 95% effective against Covid-19, while the Moderna vaccine was around 94% effective. Infectious disease experts pointed out that J & J’s numbers cannot be used as a head-to-head comparison with the other two vaccines because it is a single dose and the company’s study was conducted when more infections, as well as new, more contagious variants occurred.

The FDA has announced that it will approve a Covid-19 vaccine that is safe and at least 50% effective. In comparison, the flu vaccine generally reduces the risk of developing influenza by 40% to 60% compared to people who were not vaccinated, according to the CDC.

The FDA has approved J & J’s vaccine for people 18 years of age and older. This is not the same as a full approval which requires more data and which can typically take several months longer. J&J, like Pfizer and Moderna, has only submitted safety data for two months, but the agency typically takes six months for full approval. The FDA approved the emergency use of hydroxychloroquine to treat Covid-19 in March but revoked it in June after additional data showed it provided “no indication of benefit” in coronavirus patients.

The FDA was expected to approve J & J’s emergency vaccine.

The agency’s announcement comes after a key panel unanimously endorsed the emergency vaccine on Friday. The FDA’s Advisory Panel on Vaccines and Related Biological Products plays a key role in approving influenza and other vaccines in the United States and verifying that the vaccines are safe for public use. While the FDA does not have to follow the advisory board’s recommendation, it often does.

After the vote, Dr. Archana Chatterjee, an infectious disease expert at Chicago Medical School and voting committee member, said J & J’s vaccine will help “meet the needs of the moment” as states complain that there is insufficient supply Pfizer and Moderna gives vaccinations.

“We have to get this vaccine out now,” said Dr. Jay Portnoy, professor at UMKC School of Medicine and voting committee member, after the vote. He added, “We are in a hurry” as the variants pose a threat to the nation’s progress on the pandemic.

No specific safety concerns were identified with J & J’s vaccine. Headache, fatigue, and muscle aches were some of the most common side effects among people who received the vaccination, according to an FDA report released Wednesday. There have also been reports of nausea, fever and injection site pain, the report said.

Macaya Douoguih, director of clinical development and medical affairs for the vaccines division at J & J, Janssen, told the FDA panel on Friday that two people had severe allergic reactions shortly after receiving the vaccine. One of the people participated in an ongoing study in South Africa and developed anaphylaxis, a severe and life-threatening allergic reaction.

The company has announced that it will ship the vaccine, which contains five doses per vial, at 36 to 46 degrees Fahrenheit. In comparison, Pfizer’s vaccine must be stored in ultra-cold freezers that are between minus 112 and minus 76 degrees Fahrenheit. However, the FDA recently allowed the company to store its vaccine for two weeks at temperatures commonly found in pharmaceutical freezers. Moderna vaccine must be shipped at 13 to 5 degrees above zero Fahrenheit.

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Preflight operations are ongoing on the Unity SpaceShipTwo vehicle and the company’s mother ship Eve.

Virgo Galactic

Virgin Galactic shares fell in trading on Friday after the company’s fourth quarter results showed delays in its flight test program. The expected start of its commercial service has now been postponed to 2022.

The space tourism company reported a quarterly loss that was in line with Wall Street analysts’ expectations, but the next space flight test of its SpaceShipTwo vehicle “Unity” has been postponed from February to May. The company identified an electromagnetic interference problem with Unity on a new flight control computer. CEO Michael Colglazier said the company anticipates eight to nine weeks of proofreading.

Delays in Virgin Galactic’s spacecraft testing program, which had previously been thrown back after an engine stall during a space flight attempt in December, caused the company to postpone its schedule for starting regular space tourism flights.

Virgin Galactic’s shares fell 11.9% on Friday, trading at $ 37.23 per share. The share has risen significantly since the beginning of the year and has gained more than 55% since the beginning of the year, even after the decline on Friday.

The new plan for 2021

Colglazier gave investors an updated look at the milestones Virgin Galactic is expected to achieve this year given the testing delays.

The company’s next big event won’t be Unity, but rather the launch of the second spacecraft in the Virgin Galactic fleet – and the first of its SpaceShip III generation. According to Colglazier, the SpaceShip III vehicle has a “modular design” with “improved manufacturing and assembly processes” that the company expects to enable “better performance in terms of flight rate” and maintenance.

In the meantime, Virgin Galactic will be working this spring to address the electromagnetic interference (EMI) issue with Unity. The company’s analysis found that EMI was the main culprit behind the flight abandonment in December, and additional EMI issues during pre-flight preparations resulted in Virgin Galactic withdrawing from a space test expected earlier this month.

“To reduce EMI levels, we will add functionality to the new flight control computer. Once we have completed these changes, we will thoroughly test the system on site in both the lab and Unity and then begin our flight test program again,” said Virgin Galactic President Mike Moses on the company’s earnings conference call.

Unity’s flight attempt in May will effectively be a replica of the December test with only two pilots on board.

Meanwhile, Virgin Galactic expects the first SpaceShip III vehicle “to begin gliding tests this summer,” Colglazier said. In addition, the company will begin assembling a second SpaceShip III vehicle.

“Our current flight test protocol for the first SpaceShipThree vehicle is four glide flights and four powered flights, and we expect the space flights to generate revenue,” said Colglazier.

A shadowy look at the company’s upcoming SpaceShip III generation.

Virgo Galactic

Given Unity’s past delays, Coglalzier declined to provide specific target dates for the second space flight attempt, saying only that Virgin Galactic expects it to happen “this summer”. Unity’s second space flight will carry four passengers along with the pilots – most of the people Virgin Galactic has flown at one time.

Then Virgin Galactic will conduct a third space flight test, in which Unity company founder Sir Richard Branson has been on the road for almost two decades.

The company added a fourth space flight test for Unity as part of a partnership with the Italian Air Force. Colglazier said the flight will carry three passengers and several research payloads that will serve as “suborbital astronaut training” for the Italians. That flight is expected to “take place in late summer or early fall,” said Colglazier, and will complete Unity’s flight tests.

Virgin Galactic then begins a period of maintenance outages that Colglazier expects to last about four months. The company will carry out an “analysis and rehabilitation phase” with its carrier aircraft Eve, Spacecraft Unity and SpaceShip III.

“We decided to implement improvements and accelerations of the long-term maintenance updates for our mother ship Eve to improve the predictability and frequency of the flight rate,” said Colglazier.

Given the downtime, Virgin Galactic now expects “Unity to begin flying private astronauts in early 2022” – marking the start of the company’s commercial space tourism service. The company most recently believes that “SpaceShip III will be able to complete its flight tests,” Colglazier said early next year.

Wall Street lowers expectations

Virgin Galactic pilots walk to the company’s SpaceShipTwo Unity spacecraft attached to the Eve jet carrier aircraft.

Virgo Galactic

Several analysts have adjusted expectations for Virgin Galactic’s future results, lowering prospects in light of the testing delays.

“The big news out of print was the redesign of the flight plan,” said UBS analyst Myles Walton in a statement to investors.

UBS has a neutral rating for Virgin Galactic and is lowering its price target from $ 52 per share to $ 40 per share. Walton said he saw “a bit more technical risk on the agenda than before” despite being “encouraged by the speed in building a base for economies of scale when the green light is given to commercial operations”.

Alembic Global Advisors downgraded Virgin Galactic from overweight to neutral, with the price target shifting from $ 27 per share to $ 39 per share.

“What drives our downgrade is a combination of the stock’s current valuation (the stock has risen 78% since more than doubling in 2020) and a fresh outlook from management, the additional investment and longer time it takes to achieve the Passenger travel by consumers who now appear to be on a timeline of early 2022, “Alembic analyst Pete Skibitski wrote in a note.

Credit Suisse analyst Robert Spingarn adjusted his company’s price target for Virgin Galactic from $ 36 to $ 42 per share at the start of the year in light of the company’s strong performance.

“The updated plan, based on higher numbers and newer versions of the spacecraft, is likely to take longer than what we considered when we started reporting,” Spingarn said.

Credit Suisse pushed back its forecast that Virgin Galactic would achieve a high volume of flights from Spaceport America in New Mexico by 2025 from 2024. Spingarn also noted that Virgin Galactic appears to be “happy” with about 11-quarters cash on their runway, according to current quarterly burn rate.

“We now have a higher line of investment which, depending on the pace of further progress and the burn rate, could require additional capital by the end of 2022,” noted Spingarn.

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United Airlines passengers wait in the boarding area for their flights at Denver International Airport in Denver, Colorado.

Robert Alexander | Getty Images

United Airlines’ newest ski resorts will be accessible by bus.

The Chicago-based airline will be offering three daily bus connections from its hub at Denver International Airport to Breckenridge, Colorado, and four times daily to Fort Collins, starting March 11. Checked luggage – and skis – is transferred directly to the bus provided by the landline network, which departs from a gate at the airport. According to the fixed network, seating capacity will be limited due to the Covid-19 pandemic.

Travelers can book tickets direct to these destinations and transfer to Denver bus service after their flights.

Travelers “don’t just go to Denver,” said Ankit Gupta, United’s vice president of network and scheduling. “They actually want to ski and go to all of these tourist destinations.”

Denver was a relative bright spot for airlines during the pandemic, as there are plenty of outdoor activities that travelers can physically distance themselves from, though Gupta said the airline has been debating the bus connection for more than a year. United’s Denver service has recovered to about 80% of 2019 traffic, most of the airline’s hubs.

Gupta said the idea is to capture demand for travelers visiting areas within about 100 miles of Denver and remove the stress of driving from the airport.

“We thought it would be a great testbed market,” he told CNBC. “We think it’s a very low risk experiment.”

If successful, United could expand service to other outdoor destinations outside of Denver or to connections to the San Francisco and Newark hubs.