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☆ Moderna Peers Over a Scary Profit Cliff
▼ + stars: | 2023-02-23 | by ( David Wainer | ) www.wsj.com time to read: 1 min

Photo: Maddie Malhotra for The Wall Street JournalModerna’s projection for full-year expenses includes about $4.5 billion for research and development. When it comes to profits, the new Moderna is about to look a lot like the old Moderna. That’s spooking investors. Moderna on Thursday reported financial results that showed that in the two main Covid-19 vaccination years—2021 and 2022—the company made in excess of $20 billion in profits on more than $37 billion in revenue.

☆ Moderna’s Earnings, Revenue Fall on Fewer Vaccine Sales
▼ + stars: | 2023-02-23 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Photo: Simon Simard for The Wall Street JournalModerna said its research and development expenses soared in the fourth quarter. Moderna Inc. reported lower revenue and earnings in the fourth quarter as demand for its Covid-19 vaccine sank from year-earlier highs when the spread of the Omicron variant boosted sales. The pharmaceutical company, based in Cambridge, Mass., on Thursday said a decrease in volumes for its Covid-19 vaccine pushed sales 29% lower to $5.1 billion, which still topped analyst expectations for $5.02 billion, according to FactSet.

☆ Moderna reaffirms 2023 COVID vaccine sales forecast of $5 billion
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: 1 min

Companies Moderna Inc FollowFeb 23 (Reuters) - Moderna Inc (MRNA.O) reaffirmed its annual sales forecast of $5 billion for its COVID-19 vaccines, which was below market expectations as the company anticipated lower demand in the fourth year of the pandemic. Sales of the COVID vaccine, Moderna's sole commercial product, were widely expected to fall sharply this year from $18.4 billion in 2022. Moderna's forecast was lower than Refinitiv estimates of $6.98 billion. The company also reiterated its plans to file for regulatory approval its respiratory syncytial virus vaccine in the first half of 2023 as it looks to build its product portfolio beyond COVID vaccines. Reporting by Aditya Samal and Leroy Leo; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: Lucid, Nvidia, Dollar General, Sunrun and more
▼ + stars: | 2023-02-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Lucid Motors — The electric vehicle maker saw shares slide 14% premarket after reporting that fourth-quarter revenue fell short of expectations. eBay — The online auction platform fell 5% despite posting fourth-quarter earnings and revenue that topped analysts' estimates as gauged by Refinitiv. The company also forecast current quarter revenue of $600 million and $640 million, compared to estimates of $622 million. Bath & Body Works — Shares fell more than 4% after the company reported fourth-quarter earnings. Sunrun — The solar company rose 1.5% after its fourth-quarter earnings topped Wall Street's expectations.

☆ Bernie Sanders says 'we want to look at a shorter workweek' as part of his pro-worker agenda leading a key Senate panel on labor
▼ + stars: | 2023-02-23 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +6 min

Sen. Bernie Sanders is the new head of a key Senate panel on labor issues. Sen. Bernie Sanders is pushing for a four-day workweek, worker-owned businesses, and taxing robots that replace workers. Sanders told Insider he plans to hold at least one hearing on the future of work, exploring how workers can benefit from a revolution in technology. "It is an outrage that you have a billionaire like Howard Schultz engaging in vicious anti-union activity and I think he has got to explain his illegal behavior to the Senate," Sanders told me. "As technology increases worker productivity, we want to look at a shorter workweek," he said.

☆ Stocks making the biggest moves midday: Domino's Pizza, Lucid, Nvidia, Nikola and more
▼ + stars: | 2023-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Lucid Group — The electric vehicle maker tumbled more than 18% after posting fourth-quarter revenue that fell short of analysts' expectations. Mosaic Company — Shares of the fertilizer mineral company added 1.4% on Thursday after Mosaic's quarterly revenue came in higher than expected. The company generated $4.48 billion in revenue, while analysts surveyed by StreetAccount were expecting $4.17 billion revenue. Domino's Pizza , Papa John's International — The pizza chains fell 11% and 7.6%, respectively, after they reported mixed earnings. Nikola — Shares fell more than 7% after Nikola reported quarterly revenue that disappointed analyst expectations.

☆ Morning Bid: Blue chips cheered up
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +5 min

[1/2] The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Its CEO Jensen Huang said use of its chips to power AI had "gone through the roof in the last 60 days." The Federal Reserve at least seems keen on the higher-for-longer message that's shaken world stock and bond markets this week. And as the minutes pre-date red-hot jobs and retail data for January, the message from Fed officials is probably even sterner now. A Reuters poll of equity analysts showed global stock markets are expected to correct in the next three months.

☆ Moderna and Merck receive FDA breakthrough status for personalized cancer vaccine
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna and Merck receive FDA breakthrough status for personalized cancer vaccineCNBC's Meg Tirrell reports on news from Moderna and Merck.

☆ Wall St set for higher open as Nvidia outweighs Fed jitters
▼ + stars: | 2023-02-23 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

Futures cut some gains after data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week. "Markets are tracking the earnings reports overnight from Nvidia," said Robert Pavlik, senior portfolio manager at Dakota Wealth. ET, Dow e-minis were up 39 points, or 0.12%, S&P 500 e-minis were up 15 points, or 0.38%, and Nasdaq 100 e-minis were up 106.25 points, or 0.88%. Analysts polled by Reuters predict a correction within the next three months even though they expect the S&P 500 (.SPX) to climb 5% by year-end. Moderna Inc (MRNA.O) fell 4.4% after the vaccine maker reaffirmed its annual sales forecast of $5 billion for its COVID-19 vaccines despite its fourth-quarter sales exceeding estimates.

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Nvidia is AI, energy surprises, stocks up
▼ + stars: | 2023-02-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Shares of Club stock, which lost about 50% last year, jumped 10% early Thursday. Toll Brother s (TOL) sees price target hike at Raymond James to $67 per share from $61. 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.

☆ Moderna misses on earnings as costs rise from surplus production capacity, lower Covid shot demand
▼ + stars: | 2023-02-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Moderna on Thursday missed earnings expectation for the fourth quarter, as costs rose from surplus production capacity and lower demand for its Covid-19 vaccine, the company's only product on the market. Moderna reported quarterly earnings of $3.61 per share, a 68% decrease from the same period in 2021 when it booked $11.29 per share. Moderna has signed contracts for $5 billion in Covid vaccine deliveries for 2023. Moderna estimates U.S. market volume in fall 2023 will be 100 million doses, said Arpa Garay, the company's chief commercial officer. Garay said Moderna will leverage the infrastructure it already has in place for Covid to launch the RSV vaccine.

☆ Moderna, Merck receives FDA breakthrough status for personalized cancer vaccine
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna, Merck receives FDA breakthrough status for personalized cancer vaccineCNBC's Meg Tirrell joins 'Closing Bell: Overtime' to report on Merck and Moderna receiving FDA breakthrough status for a personalized cancer vaccine.

☆ Moderna's combination skin cancer therapy receives FDA's breakthrough tag
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Moderna Inc (MRNA.O) said on Wednesday its experimental personalised mRNA skin cancer vaccine in combination with Merck & Co Inc's (MRK.N) drug Keytruda has received breakthrough therapy designation from U.S. regulators as an additional treatment for high risk patients. The breakthrough tag is granted by the U.S. Food and Drug Administration (FDA) based on data from a mid-stage study of the drug that showed the therapy reduced risk of skin cancer's recurrence or death by 44% compared with Keytruda alone. The FDA's breakthrough therapy designation is granted to expedite the development and review of drugs that are intended to treat a serious condition. The companies said they plans to initiate a late-stage study in adjuvant treatment of melanoma in 2023. Reporting by Khushi Mandowara in Bengaluru; Editing by Shinjini Ganguli and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves after hours: Nvidia, Etsy, Lucid, Bumble, Moderna and more
▼ + stars: | 2023-02-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Etsy posted revenue of $807 million, smashing estimates of $752 million, according to Refinitiv. The company also forecast current quarter revenue of $600 million and $640 million, compared to estimates of $622 million. eBay — The online auction platform reported fourth quarter earnings of $1.07 per share excluding items, on revenues of $2.51 billion. Bumble — The online dating site jumped nearly 5% after it reported better-than-expected fourth quarter earnings and revenue. Bumble posted revenue of $191 million, above the $186 million estimated by analysts polled by FactSet.

☆ Asia shares creep higher, wary on Fed and BOJ outlooks
▼ + stars: | 2023-02-20 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

All of which made for a cautious start and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) nudged up 0.7%, after sliding 2.2% last week. The bounce was led by Chinese blue chips (.CSI300) which firmed 1.1% as Beijing kept interest rates steady as expected, having already poured liquidity into the banking system in recent days. CORE PCE A RISKMinutes of the Fed's latest meeting due on Wednesday should add colour on the deliberations, though they have been superseded somewhat by barnstorming numbers on January payrolls and retail sales. The Fed's favoured inflation indicator, the core PCE index, is seen rising 0.4%, the biggest gain in five months, while the annual pace may have slowed just a fraction to 4.3%. There are also at least five Fed presidents speaking this week, to provide running commentary.

☆ Asia shares hesitant ahead of updates on Fed, BOJ policies
▼ + stars: | 2023-02-20 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

All of which made for a cautious start and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) nudged up 0.3%, after sliding 2.2% last week. Chinese blue chips (.CSI300) firmed 0.9% as Beijing kept interest rates steady as expected, having already poured liquidity into the banking system in recent days. CORE PCE A RISKMinutes of the Fed's last meeting due on Wednesday should add colour on the deliberations, though they have been superseded somewhat by barnstorming numbers on January payrolls and retail sales. The Fed's favoured inflation indicator, the core PCE index, is seen rising 0.4%, the biggest gain in five months, while the annual pace may have slowed just a fraction to 4.3%. There are also at least five Fed presidents speaking this week, to provide running commentary.

☆ Asia shares muted by unease over Fed, Bank of Japan policy
▼ + stars: | 2023-02-20 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

All of which made for a cautious start and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was largely flat, after sliding 2.2% last week. Markets have steadily lifted the expected peak for Fed funds to 5.28%, while sharply scaling back rate cuts for later this year and next. There are also at least five Fed presidents speaking this week, to provide running commentary. Investors are anxiously awaiting Friday's testimony from the newly nominated head of the Bank of Japan, and his thinking on the future of yield curve control (YCC) and super-easy policy. Oil prices were trying to steady after shedding around 4% last week amid signs of ample supply and concerns over future demand.

☆ Wall Street Week Ahead: Retailers' results may be next test for rally in U.S. stocks
▼ + stars: | 2023-02-19 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

Nolte is considering buying home-improvement retailer stocks that were hit hard in 2022 as the housing market struggled. Other companies set to report next week include chip company Nvidia (NVDA.O), COVID-19 vaccine maker Moderna (MRNA.O) and e-commerce firm eBay (EBAY.O). Both companies are set to report on Tuesday and will "set the stage for everyone else," according to JPMorgan retail analysts. Reuters GraphicsAmong the other retailers set to report in the coming week are TJX Companies (TJX.N) and Bath & Body Works (BBWI.N). "We are clearly emphasizing retailers in select industries versus the mass market retailers," Tuz said.

☆ S&P 500 ends down as investors fret about interest rates
▼ + stars: | 2023-02-18 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

S&P 500 tradingMicrosoft Corp <MFST.O> fell 1.6% and Nvidia (NVDA.O) dipped 2.8%, both weighing on the S&P 500 as the yield on 10-year Treasury notes hit a three-month high. Of the 11 S&P 500 sector indexes, six rose, led by consumer staples (.SPLRCS), up 1.29%, followed by a 1% gain in Utilities (.SPLRCU). For the week, the S&P 500 fell 0.3%, the Dow lost 0.1% and the Nasdaq climbed 0.6%. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.1-to-one ratio. The S&P 500 posted eight new highs and one new low; the Nasdaq recorded 75 new highs and 68 new lows.

☆ The Fed’s favorite inflation gauge will be the big market hurdle of next week
▼ + stars: | 2023-02-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Most important this week is Friday's core personal consumption expenditure (PCE) price index for January. In comparison, the consumer price index (CPI), released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually. In addition to the core PCE price index, we're going to be looking closely at the housing and utilities component. Lastly, the January producer price index came in hotter than expected, rising 0.7% from December versus expectations for 0.4% increase.

☆ Stocks making the biggest moves midday: Deere, Airbnb, AutoNation, Moderna and more
▼ + stars: | 2023-02-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:Deere — Shares rose 7.7% after the company reported earnings-per-share of $6.55 for its fiscal first quarter, topping the $5.57 expected by analysts polled by Refinitiv. Some Wall Street analysts remained cautious on the stock, citing risks including competition and slower-than-expected consumer adoption of alternative accommodations. Still, earnings and revenue missed Wall Street estimates. The sports betting company reported a loss of 53 cents per share on revenue of $855 million. The real estate company reported a 57 cent per share loss on $480 million of revenue.

☆ Three-Stock Lunch: DE, AN and MRNA
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: DE, AN and MRNADiamond Hill Capital Management's Heather Brilliant joins CNBC's reporter panel on 'Power Lunch' to discuss Deere, AutoNation, and Moderna, three stocks making moves after earnings results.

☆ Investors pull cash from classic risk plays as Fed rate picture shifts
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +2 min

BofA Global Research's weekly "Flow Show", released on Friday, showed the largest outflows from technology funds since September, the largest outflows from emerging market debt funds in 14 weeks, and the largest outflows from junk debt funds in eight weeks. Emerging market debt funds saw outflows of $700 million, the largest weekly outflow in 14 weeks, according to the report which attributed the decline to debt investors reducing risk. High yield - or junk - debt saw outflows of $2.6 billion, the largest in eight weeks, and tech funds had $1.1 billion of outflows, the most since September. Elsewhere, there were $5.5 billion inflows to bonds, $1 billion inflows to cash, $300 million to equities and $45 million to gold. Reporting by Alun John; editing by Amanda Cooper and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Take Five: A year of war in Ukraine
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +5 min

LONDON, Feb 17 (Reuters) - The coming week will mark a year since Russia invaded Ukraine. The war goes on, but the world, and the markets, are in a very different place from last February. 1/A YEAR OF WARSenior politicians and military leaders from around the globe meet in Germany this weekend, days before the anniversary on Feb. 24 of Russia's invasion of Ukraine - Europe's biggest conflict since World War Two. Moscow is ramping up its spring offensive, while Ukraine - armed with heavier and longer-range firepower from the West - gathers strength for a counter push. On the same day as the Ukraine anniversary - Feb. 24 - Ueda should offer clues on timing when he testifies with his two would-be deputies to the lower house.

It failed to meet its goal of non-inferiority compared to the conventional vaccine for the B/Victoria and B/Yamagata-lineage strains, the drugmaker said. "We have always said our goal is to produce a flu vaccine, and then to iterate it, and to fine tune it over time to really make it exceptional," Chief Medical Officer Paul Burton said in an interview. Seventy percent of those who received Moderna's shot reported mostly mild adverse reactions compared to 48% for the conventional flu vaccine. The company also has an ongoing late-stage efficacy study on the mRNA-1010 flu vaccine, which could have data within weeks. The flu, an infection of the nose, throat and lungs, kills 290,000 to 650,000 people worldwide annually.

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