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☆ CNBC Daily Open: Banks got hammered by SVB's collapse. But the Fed might still raise rates
▼ + stars: | 2023-03-14 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The exterior of a First Republic Bank branch is seen on Barclay Street on March 13, 2023 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The biggest losers: First Republic Bank plunged 61.83%, Western Alliance Bancorp plummeted 57.06% and KeyCorp sank 27.33%. Despite the turmoil in the banks, markets and analysts expect the Fed to go through with rate hikes. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Moderna shares pop 7% after Cowen upgrades stock, saying it 'will be a leader' in RSV vaccines
▼ + stars: | 2023-03-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna shares jumped by nearly 7% on Wednesday after TD Cowen upgraded the stock, saying the company will "be a leader" in the RSV vaccine market. Cowen pointed to the company's potential RSV vaccine, noting that key opinion leaders believe RSV will be a "three-player vaccine market" between Moderna and drugmakers Pfizer and GSK. Moderna's RSV vaccine performed well in clinical trials and was well tolerated by patients, the note said. Moderna's RSV vaccines for adults ages 60 and older received Breakthrough Therapy Designation from the Food and Drug Administration in late January. Cowen noted that Moderna believes the regulatory support of its competitors' RSV candidates "should read-through" to its own.

☆ Here are Monday's biggest analyst calls: Apple ,Tesla, First Republic, Roku, Sunrun, JPMorgan Chase & more
▼ + stars: | 2023-03-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +19 min

Baird upgrades Truist to outperform from neutral Baird said it sees an attractive risk/reward for the regional bank. "Regional bank risk/reward trade-off improving, and we would get more aggressive on the regional bank side, upgrading TFC to Outperform." Bank of America reiterates Alphabet as buy Bank of America said it's bullish on Alphabet's entry into AI. Bank of America reiterates Roku as buy Bank of America said it's standing by the stock in the wake of the Silicon Valley Bank collapse. "Regional bank risk/reward trade-off improving, and we would get more aggressive on the regional bank side, upgrading TFC to Outperform."

☆ Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more
▼ + stars: | 2023-03-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

REUTERS/Mike SegarCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. Citi , Bank of America , Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Moderna — The biotechnology company's shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. Spot gold passed the key level of $1,900 as investors bet the Federal Reserve may tone down rate hikes on the heels of Silicon Valley Bank's collapse. Over the weekend, NBC News reported that the e-commerce company warned sellers that the collapse of Silicon Valley Bank is causing delays in processing payments.

☆ Venture Capital Investors Are Trying to Take Over Pandemic Response
▼ + stars: | 2023-03-12 | by ( Adam Rogers | ) www.businessinsider.com time to read: +19 min

Private capital has been eyeing public health for years. Several founders and investors told me that the failure of Kleiner's fund made Silicon Valley wary of investing in pandemic preparedness. Venture investors love that kind of thing. Public health and private industryWhen COVID hit, Charity Dean was the assistant director of the California Department of Public Health. In the end, almost every pandemic-related product created by Silicon Valley will ultimately require the government as a primary customer.

☆ Moderna to hire around 2,000 employees amid mRNA development push
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

Companies Moderna Inc FollowMarch 10 (Reuters) - Moderna Inc (MRNA.O) said on Friday it was planning to hire about 2,000 employees globally by 2023-end and set up new offices on the U.S. West Coast, as it aims to scale up development of new products amid declining COVID vaccine sales. The COVID vaccine maker said it will open new offices in California and Seattle, adding that its Genomics unit will expand to south San Francisco. Last month, Moderna forecast rising costs for 2023 and a decline in COVID vaccine sales, raising concerns that the company could post a loss this year. The firm had about 3,900 full-time employees as of Dec. 31, according to a regulatory filing. Reporting by Raghav Mahobe in Bengaluru; Editing by Anil D'Silva, Shinjini Ganguli and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Here are Goldman’s top stock picks to play a rising interest rate world
▼ + stars: | 2023-03-09 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Equity duration is the time until the company's cash flows are received, weighted by their present values. Goldman defines its equity duration estimates as a weighted-average distribution of cash flows. However, short-duration stocks are the ones with strong earnings today, but no promise of earnings growth down the road. These short-duration names may provide a hedge against rising rates. The median implied equity duration for stocks in the basket is 18.3 years versus 22.2 years for the Russell 1000.

☆ An options strategy from Goldman to profit from Friday's jobs report
▼ + stars: | 2023-03-09 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

The options for some major stocks appear oddly cheap ahead of a highly anticipated jobs report, according to Goldman Sachs. Straddles are derivatives that serve as a bet on volatility, regardless of direction. Shares of the Facebook parent have been on a tear in 2023, rising by more than 50% already. Outside of tech, Caesars Entertainment has already gained 28% year to date, and analysts see another 30% of upside, according to Refinitiv. Shares of Moderna have already moved 3% or more on 11 different trading days in 2023.

☆ Big Companies Seeing Tax Benefits From Law Change Some of Them Fought
▼ + stars: | 2023-03-08 | by ( Richard Rubin | Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

Those companies now qualify for a bigger tax break for exports because of the way the research-deduction change alters their tax calculations. Photo: Dado Ruvic/REUTERSModerna saw that tax break jump to a 7.4 percentage-point benefit on its tax rate from 4.8 points in 2021, even as its cash tax payments rose. The change requiring companies to spread out research deductions was part of the 2017 tax law, and it was designed to partly offset the revenue loss from cutting corporate tax rates. PREVIEWAt the same time, the smaller research deduction means many companies can get a bigger advantage from the export tax break. The size of the FDII tax break is based in part on how much income a company has.

☆ Moderna CEO Defends Pricing Plans for Covid-19 Shot
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. U.S. politicians including Sens. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.

☆ Moderna CEO Defends Pricing Plans for Covid Shot
▼ + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

Moderna CEO Stéphane Bancel, said public funding sped the vaccine’s development. Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Snowflake, Salesforce, Nio, Nvidia & more
▼ + stars: | 2023-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan downgrades Nio to neutral from overweight JPMorgan said it sees too many challenges after the Nio's earnings report on Wednesday. JPMorgan downgrades Dollar Tree to neutral from overweight JPMorgan said it sees too many macro headwinds for the discount retailer. Morgan Stanley upgrades Pinduoduo to overweight from equal weight Morgan Stanley said the ag-tech company is a "long-term growth story." Morgan Stanley reiterates Liberty Formula One as overweight Morgan Stanley said it's bullish on shares of the auto racing company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said competitors can't keep up after Tesla's investor day on Wednesday.

The company — which has its COVID-19 vaccine as the only marketed product after 35 years in business — on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. "While there is the potential for a substantial booster market ... we don't expect Novavax to be a major player in the booster opportunity." As of last close, Novavax's U.S.-listed shares were down 97% from their February 2021 record high of $331.68.

Feb 28 (Reuters) - A panel of outside advisers to the U.S. health regulator on Tuesday recommended Pfizer Inc's (PFE.N) respiratory syncytial virus (RSV) vaccine, bringing it closer to becoming one of the first approved RSV shots for older adults in the United States. GSK (GSK.L), which is another forerunner in a crowded race to develop the first RSV vaccine, will face scrutiny from a panel of experts to the FDA on Wednesday. "The population where the vaccine is going to potentially have the biggest impact is less represented in this study," said Hana Sahly, one of the 12 FDA panelists. The FDA is scheduled to decide on the vaccines by May, and typically follows the recommendations of its independent panel of experts. Pfizer's vaccine was 66.7% effective in preventing RSV-related lower respiratory tract illness with over two symptoms, while GSK's vaccine was 82.6% effective in preventing lower respiratory tract disease in people aged 60 and over.

☆ Covid vaccine maker Novavax says it may not survive
▼ + stars: | 2023-03-01 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

New York CNN —Novavax, which makes the Nuvaxovid vaccine used to treat Covid-19, posted huge sales gains for the past three years during the height of the pandemic. But the company is now facing serious financial challenges — and has even warned it may not be able to survive. Shares of Novavax (NVAX) plunged more than 25% in early morning trading to a new multi-year low of under $7. Novavax hit a 52-week high of about $91 last year and was trading above $330 in February 2021. Novavax isn’t the only Covid-vaccine maker to disappoint Wall Street, though.

The stock had dropped 26.2% to $6.83 around 8:55 ET (13:55 GMT), while its Frankfurt-listed shares slumped more than 27%. The company - whose COVID vaccine is its only marketed product after 35 years in business - on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. As of last close, Novavax's U.S.-listed shares are down 97% from their February 2021 record high of $331.68.

☆ FDA advisors recommend GSK's RSV vaccine for older adults, but flag potential safety risks
▼ + stars: | 2023-03-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Ten of the FDA advisors said the safety data on GSK's vaccine was adequate, while two said it was not. The panel reached a similar conclusion in a narrow 7 to 4 vote Tuesday on Pfizer's application to clear its RSV vaccine. While the advisors erred toward recommending approval, they also raised concern over a possible link to Guillain-Barre syndrome. Both companies have asked the FDA to approve their RSV shot for adults ages 60 and older. The FDA said the cases are possibly related to either GSK's RSV vaccine or the flu shot that was administered with it.

☆ Novavax raises doubts about ability to remain in business, shares fall
▼ + stars: | 2023-02-28 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. Novavax's shares closed at $9.26 on Tuesday and fell to $6.90 in extended trading after reporting on its financial situation. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered. Jacobs said that while Novavax's vaccine may take longer to manufacture than its rivals from Pfizer (PFE.N)/BioNTech (22UAy.DE) and Moderna (MRNA.O), he believes FDA regulators want a protein-based option this fall for U.S. citizens.

☆ Pfizer, GSK face FDA panel review in race for RSV vaccines
▼ + stars: | 2023-02-28 | by ( Manas Mishra | ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - The frontrunners in a crowded race to develop the first respiratory syncytial virus (RSV) vaccine - Pfizer Inc (PFE.N) and GSK (GSK.L) - will face scrutiny from a panel of experts to the U.S. Food and Drug Administration this week. Merck & Co Inc (MRK.N), Moderna Inc (MRNA.O), Johnson & Johnson (JNJ.N) are conducting trials of their own RSV vaccines. Pfizer and GSK grabbed a lead last year after data from separate late-stage studies showed their shots prevented respiratory disease caused by RSV. GSK's vaccine was 82.6% effective in preventing lower respiratory tract disease in people aged 60 and over, and 94.1% effective in preventing severe disease. Dr. Schaffner expects a positive vote on the vaccines when the advisory panel discusses Pfizer's vaccine on Feb. 28, and GSK's vaccine on March 1.

☆ Novavax shares plunge as company raises doubts about its ability to remain in business
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: +4 min

A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Covid-19 vaccine maker Novavax on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign. The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered.

☆ Novavax raises doubts about its ability to remain in business
▼ + stars: | 2023-02-28 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

NEW YORK, Feb 28 (Reuters) - COVID-19 vaccine maker Novavax Inc (NVAX.O) on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign. The company lost $182 million, or $2.28 per share, in the fourth quarter on weaker-than-expected sales of $357 million. "We're in the process of assessing the global footprint of Novavax, rationalizing our supply chain, rationalizing the portfolio and rationalizing the company structure and our infrastructure," he said. In the U.S., where the Novavax vaccine was authorized in July 2022, only around 80,000 of its shots have been administered. Jacobs said that while Novavax's vaccine may take longer to manufacture than its rivals from Pfizer (PFE.N)/BioNTech (22UAy.DE) and Moderna (MRNA.O), he believes FDA regulators want a protein-based option this fall for U.S. citizens.

☆ Space, Life Science, and Quantum Computing Innovations
▼ + stars: | 2023-02-27 | by ( Sponsor Post | Created Insider Studios With The Uk'S Department For Business | ) www.businessinsider.com time to read: +8 min

According to the Global Innovation Index 2022, global government R&D investment is growing and the UK is ranked fourth for global innovation (and third most innovative economy in Europe). "Space observation is vital for our planet — the UK invests in the European Space Agency and at the Space Cluster at Harwell, a significant science and innovation park." Jo Hawley, deputy director for aerospace, space and automotive at DBT, reported that the UK space sector spent £836 million on R&D in 2021. The company has reported strong growth of its life science research tools business, reflected in the international footprint of its commercial and distribution operations. The Department for Business and Trade can connect you with dedicated, professional assistance to locate R&D investment opportunities and support.

☆ Moderna to make milestone payments to NIH for COVID vaccine
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

Companies Moderna Inc FollowFeb 24 (Reuters) - Moderna Inc (MRNA.O) will make certain contingent development, commercial and regulatory milestone payments to the U.S. National Institutes of Health (NIH) related to the development of COVID-19 vaccines, the company said in a filing on Friday. Moderna and the U.S. government agency had entered into a license agreement in December related to certain patents concerning the COVID vaccine products, the filing showed. The vaccine maker first disclosed the deal in its fourth-quarter earnings release stating it missed profit estimates hurt by the royalty payment to NIH. Moderna said under the agreement it would pay low single-digit royalties on future net sales and also minimum annual royalties. Reporting by Khushi Mandowara in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: Beyond Meat, Live Nation, Yeti, Boeing and more
▼ + stars: | 2023-02-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Live Nation — The ticker seller fell 9%, despite reporting fourth-quarter revenue of $4.29 billion, up about 60% year over year and topping StreetAccount's estimate of $3.6 billion. EOG Resources — The energy company dropped 5.1% after reporting fourth-quarter earnings, excluding items, that were short of analysts' expectations, according to StreetAccount. Etsy — Etsy slipped 4.8%, a day after gaining more than 2% on its fourth-quarter earnings beat. The company also offered cautious guidance for its first quarter, anticipating $2.95 billion to $3.15 billion in gross merchandise revenue. However, Autodesk beat fourth-quarter expectations on the top and bottom lines, according to Refinitiv.

☆ Jim Cramer's top 10 things to watch in the stock market Friday: Hot inflation — bond yields up and stocks down
▼ + stars: | 2023-02-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. ET: Jim and Jeff discuss the Club portfolio (Part 1)12:15--1:30 p.m. ET: Jim and Jeff discuss the portfolio (Part 2)2:15-2:45 p.m.

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