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☆ Stocks making the biggest moves after hours: DoorDash, Applied Materials, DraftKings and more
▼ + stars: | 2023-02-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Reported losses, however, were greater than analysts' projections, coming in at a per-share loss of $1.65 versus analysts' estimates of 68 cents. Revenue came in at $1.01 billion, missing analysts' estimates of $1.02 billion. DraftKings — The sports betting company's shares gained 6% after its fourth-quarter earnings and revenue exceeded analysts' estimates. Applied Materials — The semiconductor company's stock added about 2% after Applied Materials posted its latest results. Revenue was $6.74 billion in the same quarter, beating analysts' estimates of $6.69 billion.

☆ Pfizer/BioNTech, Moderna gear up for 2024 London trial over COVID vaccine patents
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Ivan AlvaradoLONDON, Feb 16 (Reuters) - Pfizer Inc (PFE.N) and its German partner BioNTech SE (22UAy.DE) are gearing up for a 2024 trial with Moderna Inc (MRNA.O) at London's High Court in competing patent lawsuits over their rival COVID-19 vaccines. The case reached London's High Court for the first time for a preliminary hearing on Thursday, ahead of a trial which is due to take place in April 2024. Pfizer and BioNTech sued Moderna in London in September, seeking to revoke two of Moderna's patents in relation to its messenger RNA (mRNA) vaccines. Moderna brought its own lawsuit that month over Pfizer and BioNTech’s Comirnaty vaccine, seeking damages for alleged infringement of its patents. Pfizer, BioNTech and Moderna are also engaged in litigation in Germany, the Netherlands and the United States.

☆ Moderna CEO to testify in senate on proposed vaccine price hike
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 15 (Reuters) - Senator Bernie Sanders said on Wednesday Moderna Inc's (MRNA.O) chief executive officer Stéphane Bancel will testify next month in front of the senate on the drugmaker's plans to raise the price of its coronavirus vaccine. In January, Sanders had written to Bancel to refrain from quadrupling the price of COVID-19 vaccine, after Moderna said it was considering pricing its vaccine at $110 to $130 per dose in the United States, when it shifts from government contracting to commercial distribution. Moderna also added that uninsured patient can buy the vaccine through Moderna's patient assistance program at no cost. Sanders, chairman of the Senate's Health, Education, Labor and Pensions committee, has railed against high drug prices and backed Medicare-for-all. Reporting by Khushi Mandowara in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

[1/2] People pose with syringe with needle in front of displayed Moderna logo in this illustration taken, December 11, 2021. REUTERS/Dado Ruvic/IllustrationFeb 15 (Reuters) - The U.S. government should face a patent lawsuit over COVID-19 vaccines, not vaccine maker Moderna Inc (MRNA.O), the Department of Justice told a Delaware federal court on Tuesday. Moderna made the same argument last year in an unsuccessful bid to win an early dismissal of the lawsuit. Both Moderna and Pfizer Inc (PFE.N) have been the target of multiple patent lawsuits over their COVID vaccines, including a lawsuit brought by Moderna against Pfizer in August. The case is Arbutus Biopharma Corp v. Moderna Inc, U.S. District Court for the District of Delaware, No.

☆ Moderna CEO Stephane Bancel will testify before Senate next month on Covid vaccine price hike
▼ + stars: | 2023-02-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Moderna CEO, Stephane Bancel attends 2019 Forbes Healthcare Summit at the Jazz at Lincoln Center on December 05, 2019 in New York City. Moderna CEO Stephane Bancel will testify before the Senate health committee in March over the company's plans to hike the price of its Covid-19 vaccine. Sanders, in a letter to Bancel last month, slammed the proposed price hike as "outrageous" given that the vaccine was developed in cooperation with the National Institutes of Health using taxpayer money. When the federal supply runs out, uninsured adults may have to pay the full price for the shots. There is a federal free vaccine program for children whose families or caretakers can't afford the shots.

☆ Philippe Laffont's Coatue adds to bets on Big Tech and Moderna
▼ + stars: | 2023-02-14 | by ( Jesse Pound | ) www.cnbc.com time to read: +1 min

Meanwhile, Coatue's stake in Moderna grew by 12%, bringing the value of that position above $1.1 billion as of the end of December. The firm added several new positions in the quarter, taking relatively small stakes in Alphabet and Charter Communications , among others. Coatue also added to its stake in Tesla , a reversal from the third quarter r when it reduced the size of that position. The listed equity positions were worth $8.9 billion at the end of December, according to a CNBC calculation. Coatue also exited smaller positions in several stocks during the fourth quarter, including Palo Alto , Paramount Global, Shopify and Visa .

☆ U.S. government to buy 1.5 mln more Novavax COVID vaccine doses
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

Feb 13 (Reuters) - The U.S. government has agreed to buy 1.5 million more doses of Novavax Inc (NVAX.O) COVID-19 vaccine, the company said on Monday, adding that the modified agreement includes funds for development of an updated vaccine by fall this year. Sales of the company's vaccine have been hurt by a global supply glut and waning demand, with Novavax cutting its full-year revenue forecast for the shots twice last year. The protein-based vaccine was expected to convince those skpetical of the new mRNA-based vaccines against the virus from rivals such as Pfizer Inc (PFE.N) and Moderna (MRNA.O). The U.S. Food and Drug Administration is also in the process of simplifying its COVID-19 vaccine policy as it considers whether to recommend that Americans get an annual booster shot for the virus. Shares of the vaccine maker rose 3.2% before the bell on Monday after the Wall Street Journal first reported the news.

☆ These are the most overbought and oversold stocks on Wall Street right now
▼ + stars: | 2023-02-11 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

For traders, one widely-used metric can help participants separate the most overbought, and oversold, stocks on Wall Street right now. The "relative strength index" measures the speed and magnitude of recent price moves , letting investors gauge possible overbought and oversold conditions in the market. Although overbought stocks can always rise further, theoretically until their RSI hits 100, and oversold stocks can still fall further, theoretically to 0, looking at RSIs remains helpful for investors looking to lighten up on existing positions or establish new ones. Amgen was identified as one of the most oversold stocks in the S & P 500. The pharmaceutical stock has a 14.6 14-day RSI rating, with just 35% of analysts rating the stock a buy.

☆ Fact Check-Moderna CEO did not say company made 100,000 COVID-19 vaccine doses before the pandemic started
▼ + stars: | 2023-02-10 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

At Davos 2023, Moderna CEO Stephane Bancel spoke about how quickly the company was able to scale up vaccine production at the start of the COVID-19 pandemic, not that Moderna had made 100,000 COVID vaccine doses before the pandemic began, as some are claiming online. The clip of Bancel responding to a question in January 2023 circulated in a tweet by the user @healthbyjames with the false caption, “URGENT — Moderna CEO Stéphane Bancel Admits Company Produced 100,000 COVID-19 Vaccine Doses In 2019 Before The Pandemic Started” (here). Bancel responds by first recalling that, “when the pandemic happened, Moderna had made 100,000 dose in 2019 for the whole year. Moderna did not produce 100,000 doses of the COVID-19 vaccine in 2019, Ridley said. Moderna CEO Stephane Bancel did not say in a 2023 panel discussion that the company produced 100,000 COVID-19 vaccines prior to the pandemic.

The company also predicted a return to growth in China, one of its key markets, after reporting a second consecutive quarter of growth even as prices remain under pressure. Sales of its best-selling cancer drugs — Tagrisso, Imfinzi and Lynparza — came in just below estimates from Cowen analysts. Sales started to pick up in the second half of 2022 and in the fourth quarter grew by 3% at constant currency rates. Of key interest to investors is the experimental cancer drug, datopotamab deruxtecan, being evaluated in a keenly anticipated late-stage trial involving lung cancer patients. Partner Daiichi Sankyo (4568.T) this month said results of that study have been delayed to the second quarter from the first quarter of 2023.

☆ Cramer's lightning round: EMCOR Group is my kind of stock
▼ + stars: | 2023-02-09 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Moderna Inc : "I think you should buy more." Loading chart...Okta Inc : "[CEO Todd McKinnon has] got to pivot first. We mean pivot, going from loss and high growth to a little less growth and profit." Loading chart...EMCOR Group Inc : "That's my kind of stock. Loading chart...AllianceBernstein Holding LP : "I think you possibly have a winner.

"When you think about traditional drug and vaccine development and longevity of sales, it's usually much more spread out," Morningstar analyst Damien Conover said. The sudden inflow of revenue should prod companies to strike deals and link up with new partners, he said. Vaccine maker Moderna also expects 2023 revenue to fall sharply. The company's only product - its messenger RNA COVID vaccine - pulled in around $18.4 billion in 2022. Eli Lilly and Co (LLY.N) made $2 billion in 2022 from monoclonal antibody COVID treatments and is not expecting any revenue from the business in 2023.

☆ Investor Sarat Sethi said he is buying into this 'unloved' pharma stock
▼ + stars: | 2023-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to get back into British pharmaceutical company GSK , according to investor Sarat Sethi. He has been adding to the stock that was known as GlaxoSmithKline since buying it a couple months ago, Sethi told the panel on CNBC's " Halftime Report " on Monday. GSK shares have notably underperformed this year. While the S & P 500 has rallied more than 7% since the start of 2023, GSK shares are just slightly higher for the year, up 0.6%. Hightower's Stephanie Link approved of the buy, saying that GSK has a "great story."

☆ U.S. plans to stop buying Covid shots for the public this fall. Here's what that means
▼ + stars: | 2023-02-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

There is a federal program to provide free vaccines to children whose families or caretakers can't afford the shots. Sen. Bernie Sanders, I-Vt., slammed the vaccine price hike in a letter to Moderna's CEO last month. Under the ACA, private health insurance is required to cover all immunizations recommended by the CDC at no cost to the consumer. There may be a small number of legacy private health insurance plans from before the ACA that are not required to cover Covid vaccines, Cox said. Consumers could also see their health insurance premiums increase if Pfizer and Moderna hike the price of the shots, Cox said.

☆ Fact Check-No evidence for claims FAA updated its pilot ECG guidelines due to COVID-19 vaccine injury
▼ + stars: | 2023-02-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Very concerned.”“After the vaccine rolled out, the FAA secretly widened the EKG parameter range for pilots so they wouldn’t be grounded. A PR interval between 120 and 200 milliseconds (ms) is considered normal, according to standard medical practice (here ). A PR interval greater than 200ms is considered to be a first degree atrioventricular block (AV block), which means that the signals are delayed (though not blocked), as explained (here). According to the American Heart Association (here), "A first-degree heart block occurs when the electrical impulse moves through the heart’s AV node slower than normal. First-degree heart block rarely causes symptoms and may not require treatment."

☆ Fact Check-COVID-19 vaccines do not add a ‘third strand’ of DNA
▼ + stars: | 2023-02-02 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

Moderna’s mRNA COVID-19 vaccine does not alter human DNA or add a third strand to people’s DNA, as claimed in a video circulating on social media and viewed more than 400,000 times on Twitter. This gave me chills.”However, the video offers no evidence for its claim about the vaccine altering human DNA. The messenger RNA (mRNA) in approved COVID-19 vaccines does not interact with human DNA inside cells, and does not enter the cell nucleus where DNA is housed. Reuters has also addressed other false claims that mRNA vaccines alter human DNA (here, here, here). COVID-19 vaccines based on mRNA do not alter human DNA or add a third strand to the DNA double helix.

☆ Beware of tech stocks — these cash-rich names are a better bet, analysts say
▼ + stars: | 2023-02-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Forget growth stocks like tech. "We're starting to enter a bifurcated market: companies with strong balance sheets will hold up much better than growth companies that have never posted a profit," he added. He said his firm has been bullish on energy, thanks to high free cash flow yield in the sector. "Energy companies used to take every dollar they could get their hands on ... "Investors are looking to fade the growth trade in favor of more reliable cash flow generating stocks.

LONDON, Feb 1 (Reuters) - GSK (GSK.L) chief executive Emma Walmsley on Wednesday made replenishing the drugmaker's pipeline of vaccines and therapies her number-one priority. But analysts say there is not enough in the medicine cabinet to keep the momentum going even beyond the next few years. Meanwhile, analysts say the market for Shingrix will eventually become saturated, further limiting the company's growth prospects. GSK shares lagR&D SPENDGSK's spending on R&D has long lagged behind its peers, something activist investor Elliott highlighted in a 2021 letter pressuring the company to make sweeping changes. Lucy Coutts, investment director at wealth management firm JM Finn, which holds GSK shares, there is hope the company will eventually deliver a streamlined and specialist portfolio of blockbuster drugs.

☆ The end of the Covid health emergency won't slow FDA clearance of shots and treatments
▼ + stars: | 2023-01-31 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Food and Drug Administration on Tuesday said its emergency authorizations of Covid vaccines, tests and treatments will not be impacted by the end of the public health emergency this spring. President Joe Biden is planning to terminate in May the public health and national emergencies declared in response to the Covid pandemic three years ago, the White House said Monday. The public health emergency gave U.S. health regulators expanded powers to respond faster to the pandemic. The FDA's emergency powers, however, aren't directly tied to public health declaration, according to the agency. This allows the agency to respond more swiftly to public health crises.

☆ The Covid sales boom is over for Pfizer
▼ + stars: | 2023-01-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN —Pfizer generated nearly $57 billion in combined sales last year from its Comirnaty Covid-19 vaccine and Paxlovid antiviral pill. Pfizer (PFE) told Wall Street Tuesday that it expects Covid-related sales to plunge to $21.5 billion this year… below Wall Street’s forecasts. Pfizer noted that it now expects to sell just $13.5 billion of its vaccine and $8 billion of the Paxlovid pill this year. Wall Street was expecting vaccine revenue of $14.4 billion and $10.3 billion of Paxlovid for 2023, according to estimates tracked by Refinitiv. Pfizer reported Comirnaty sales of $37.8 billion last year and revenue of $18.9 billion from Paxlovid.

☆ Fact Check-Vaccine work before SARS-CoV-2 had a name does not prove pandemic was planned
▼ + stars: | 2023-01-30 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

Users online are circulating that widely-known fact to imply the COVID-19 pandemic was planned. At timestamp 0:17-0:42, Bancel says Moderna was working on a COVID-19 vaccine before the virus had an official name, saying “I think there was no name at that time” (here). On Jan. 23, 2020, the WHO-affiliated Coalition for Epidemic Preparedness Innovations (CEPI) announced funding for three separate research teams to work on potential vaccines against the novel coronavirus (here). One of the research teams included a partnership between drug and vaccine developer Moderna and the U.S. National Institute of Allergy and Infectious Diseases. Neither the disease nor the virus that causes it had formal names until February 2020.

☆ Stocks making the biggest moves midday: Carvana, Colgate-Palmolive, Tesla and more
▼ + stars: | 2023-01-30 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Tesla — Shares dropped 2.8% after Berenberg lowered its earnings estimate for Tesla by around 25% for 2023 following the company's price cuts for its electric vehicles. Ford Motor Company — Shares fell nearly 1.4% after the company announced price cuts for its electric Mustang Mach-E crossover. The move in Ford comes after Tesla said earlier this month it would trim prices to counteract dwindling demand. AMC Entertainment — Common shares of the theater chain fell by more than 7% after AMC announced a shareholder meeting in March for a potential change to its capital structure. The preferred or "APE" shares, which trade at a large discount to the common shares, jumped by more than 16%.

☆ Walmart, CVS Health adjust pharmacy hours amid labor crunch
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Segar/File PhotoJan 27 (Reuters) - Walmart Inc (WMT.N) said on Friday it would adjust working hours for its U.S. pharmacy team and implement it nationwide in 4,600 locations, with drugstore operator CVS Health Corp (CVS.N) doing the same for about two-thirds of its retail pharmacies, amid a tight labor market. The United States has been experiencing a nationwide labor shortage since the COVID-19 pandemic which has forced retailers to offer attractive incentives and pay increases. Earlier on Friday, the Wall Street Journal first reported CVS Health Corp and Walmart were cutting pharmacy hours. CVS said the new hours of operation, which begin in March, at impacted pharmacies will vary, adding it periodically reviews operating hours to make sure peak customer demand was being met. Walgreens said in a statement that at times it had to adjust store or pharmacy hours at some places after staffing challenges impacted retailers and healthcare entities, among others, over the last 12 months.

An advisory committee to the Food and Drug Administration on Thursday raised doubts about shifting toward a yearly Covid booster for most adults and children, saying too many questions about the virus still remain unanswered. The FDA convened its Vaccine and Related Biology Products Advisory Committee to discuss how the Covid vaccines may change moving forward. On Monday, the agency published briefing documents proposing annual Covid shots that target the latest variants of the virus — an approach similar to the yearly flu shot. Some committee members said they would prefer to make multiple yearly meetings on the Covid vaccines the norm. In a unanimous vote, the committee recommended using the bivalent formula in all Covid vaccines moving forward, not just for booster shots.

☆ Stocks making the biggest moves midday: American Express, Intel, Silvergate Capital and more
▼ + stars: | 2023-01-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Colgate-Palmolive — Shares fell more than 4% after Colgate-Palmolive released its latest earnings results. The guidance came even as the company reported earnings that beat on top and bottom lines. Visa — The payments stock rose by more than 2% after a better-than-expected fiscal first quarter. Analysts surveyed by Refinitiv had expected earnings of $2.01 per share on revenue of $7.7 billion. Net revenue rose 12% year over year, with total cross-border volume climbing 22%.

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