QUICK HITS

1

Manufacturing slumps: A measure of U.S. manufacturing activity unexpectedly dropped in April to the lowest level since 2020 as growth in orders, production and employment softened. The Institute for Supply Management’s gauge of factory activity fell to 55.4 last month from 57.1, according to data released Monday.

2

Pfizer falls: Pfizer slumped after Paxlovid, its pill for treating COVID-19, failed to show benefit as a preventive therapy in a trial. Paxlovid is poised to become one of the fastest-selling drugs of all time, with $24 billion in projected 2022 sales, according to analytics group Airfinity.

3

GOP loses bid to block Jan. 6 Committee’s demand: A judge handed a victory to lawmakers probing the Jan. 6 insurrection by upholding a House subpoena for Salesforce data tied to the GOP’S “inflammatory” massemail campaign after the 2020 presidential election. The ruling late Sunday by U.S. District Judge Timothy Kelly in Washington also held that the House select committee investigating the Capitol riot is valid

4

Desantis won’t lure Twitter to Florida : Governor Ron Desantis said he’s not interested in luring Twitter to move its headquarters to Florida because it would increase living expenses in the Sunshine State. “Importing some tech company from San Francisco has not been high on our list,”desantis said in a press conference in Jacksonville.

5

Mypillow CEO Mike Lindell gets banned from Twitter: Mypillow CEO Mike Lindell was banned from Twitter for a second time after attempting to use a new account to access the social media platform. Lindell set up a new account Sunday on Twitter under @Mikejlindell. The account was quickly suspended.