Good things come in (phase) threes?... TBD. Out of the 170 Covid-19 vaccines in development, 35 have been approved for clinical human trials. Out of those, only 9 have advanced into the final phase of trials (aka Phase 3). Now the drugmakers are aiming to seek regulatory approval or emergency-use authorization as soon as October. Three of the Phase 3 front-runners:

• AstraZeneca: Is aiming to wrap up Phase 3 next month. It just resumed trials after briefly pausing due to an illness in a volunteer (apparently unrelated).
• Pfizer: If its vaccine with BioNTech proves safe, it would be the 1st mRNA vaccine ever approved (unless Moderna gets there first).
• Moderna: Its final stage trial could yield interim results in the fall.

The stakes... need little explanation. A vaccine is critical to stopping this world-shattering pandemic that has killed ~920K people. And it all hinges on Phase 3 results. These large-scale trials (usually 30K people) test whether the dose that would be given to the public is safe. BTW: Russia's vaccine skipped this final stage.

• While Phase 3 could go on for a while, positive mid-trial results could be enough for a vaccine to start getting approval for mass production and distribution in October.
• Vaccines usually take 6-10 years from development to approval. The US has invested over $10B in "Operation Warp Speed" to make that happen in less than a year.

When Soul Cycle goes dark... Peloton's sales surged 172% and it snagged a quarterly profit (must've been a Beyoncé workout). As wealthy consumers scrambled to bring a piece of Equinox into their homes, Peloton's $2K spin bikes and $4K treadmills sprinted out of factories. Also: the average number of workouts per month more than doubled. Peloton doesn't expect to return to normal delivery times any time soon — it's expecting even bigger sales growth this quarter.

Hollister's sportier cousin... Remember American Eagle? We're guessing "no" — your forgotten middle-school mall favorite saw sales fall 26% last quarter. But AE's teen-centric loungewear brand Aerie had a 32% sales jump as hoodies and bralettes flew off virtual shelves. Digital sales doubled for Aerie thanks to in-app shopping (websites are sooo 2019). Until COVID hit, Aerie had 21 straight quarters of double-digit sales growth. AE stock soared 8% last week as Aerie returned to double-digit growth after a quarter off.

Electrifying week... Nikola shares soared 40% on Tuesday after GM announced it's investing $2B for an 11% stake in the e-truck maker. Experienced GM will be producing young Nikola's electric trucks. Nikola's valuation soared to $19B (despite it never having actually sold a vehicle). Then on Thursday, Nikola's valuation plunged to $12B after a short selling research firm accused it of fraud. Nikola called it a “hit job” and is considering suing.

(Insert anxiety-inducing notification sound)... Slack's quarterly sales jumped 49% — about the same as the previous two quarters. That's yawn-worthy compared to fellow WFH'er Zoom, which 4X'd sales and 33X'd profit. Slack's steep learning curve might be stunting growth: newbies have to learn channels, bots, threads, and when not to message in #General (assume never). Now Slack's stock has fallen back to pre-pandemic levels after plunging 17% last week.

• Break: TikTok has reportedly turned down Microsoft/Walmart's acquisition offer and is planning to sell its US operations to Oracle.
• Update: Unemployment benefits, stimulus checks, and tax cuts — a breakdown of where aid measures stand (TLDR: it's all up in the air).
• Eat: 9 quick dishes you can make with an avocado, according to Michelin-starred chefs (meet: "avocado wedge fries").
• Work: How to get your resume noticed — it takes ~7 seconds for a recruiter to decide if your app is moving on or going in the (virtual) bin.
• Sweat: What does the perfect weekly workout routine look like? The ideal breakdown between strength training, cardio, and rest.
• Recharge: 9 easy ways to set boundaries at work to improve your life (signing off is possible).

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• Monday: Earnings expected from Lennar.
• Tuesday: The big Apple product event (new Apple Watch expected to drop).
• Wednesday: Earnings expected from Oak Street Health.
• Thursday: Weekly jobless claims. Earnings expected from Scholastic Corporation.
• Friday: Unity Software's IPO

Disclosure: Authors of this Snacks own shares of Apple and Lululemon

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