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Pfizer CEO Albert Bourla. Photo: Drew Angerer/Getty Images

Pfizer CEO Albert Bourla sold $5.6 million worth of stock on Monday — the same day it said its and BioNTech's coronavirus vaccine showed 90% effectiveness in preliminary results, which saw the company's stock soaring almost 8%.

Between the lines: The stock sale is perfectly legal through a predetermined plan called Rule 10b5-1, but the optics aren't great. A Pfizer spokesperson did not add any new information in a statement, saying the sale was part of a predetermined plan created in August.

Go deeper

DeVos extends federal student loan relief to Jan. 31

U.S. Secretary of Education Betsy DeVos. Photo: Nicholas Kamm/AFP via Getty Images

The Trump administration is extending federal student loan relief, which includes a pause on payments and interest accrual, through Jan. 31, the Department of Education announced Friday.

Why it matters: Payments have been paused since March due to the coronavirus pandemic, but the relief was set to expire on Dec. 31 . The relief measures, which also include the suspension of collections of defaulted federal student loans, have helped mitigate some of the pandemic's negative consequences for millions of borrowers.

21 hours ago - Health

Fauci says he accepted Biden's offer to be chief medical adviser "on the spot"

The government's top infectious-disease expert Anthony Fauci said Friday that he "absolutely" will accept the offer from President-elect Joe Biden to serve as his chief medical adviser, telling NBC's "Today" that he said yes "right on the spot."

Why it matters: President Trump had a contentious relationship with Fauci, who has been forced during the pandemic to correct many of the president's false claims about the coronavirus. Biden, meanwhile, has emphasized the importance of "listening to the scientists" throughout his campaign and transition.

11 hours ago - World

UN: "2021 is literally going to be catastrophic"

David Beasley, executive director of the World Food Programme. Photo: Souleymane Ag Anara/AFP via Getty Images

Next year is "going to be catastrophic" in terms of worldwide humanitarian crises, World Food Program executive director David Beasley warned on Friday, per Reuters.

Driving the news: The stark outlook comes as many countries contend with not only the coronavirus pandemic, but also possible famine, economic instability, conflict and other humanitarian crises. A record 235 million people will need humanitarian assistance and protection next year, a nearly 40% increase from 2020, the UN projected earlier this week