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Premarket stocks: Wall Street kills its darlings
  + stars: | 2022-12-30 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +6 min
It appears that Wall Street has also caught on to the concept. Investors are rushing to kill their darlings – er, sell their stocks– and even safe-havens like Apple (AAPL) and Intel (INTC) are getting crushed in the stampede. What’s happening: It’s been a shaky year full of economic uncertainty, geopolitical chaos, elevated inflation and a hawkish Fed. But what’s been most surprising is that market-cap titans, traditionally expected to weather storms on Wall Street well, haven’t held up against the rising macroeconomic tides. EY Parthenon projects that consumer spending will flatline in 2023 after growing 2.7% this year.
In a losing year for US stocks, here are the 10 biggest percentage decliners on the S&P 500. The 10 largest S&P 500 stock losers wiped out $1.6 trillion in market value. The 10 S&P 500 companies that have experienced the largest stock-price declines heading into the end of 2022 have wiped out a combined market value of more than $1.6 trillion. PayPalTicker: PYPLYTD Performance: -63.4%Market Value Decline: $142.49 billionLike many tech companies, the digital payments processor is seeing a slowdown after a pandemic boom. Photo by George Frey/Getty ImagesTicker: GNRCYTD Performance: -73.8%Market Value Decline: $16.6 billionMass COVID lockdowns helped sparked big demand for backup generators as people worked and studied at home.
Stocks struggled this week as recession fears resurfaced, putting a damper on last hopes for a market uptick. CNBC Pro used FactSet data to screen for the stocks with the greatest week-to-date percentage changes as of Friday's open. About 46% of analysts rate the stocks as a buy, with the consensus price target implying upside of more than 7% from Thursday's close. The stock's down about 49% this year, but the consensus price target suggests shares stand to gain more than 41% from Thursday's close. Energy stocks APA Corp and Halliburton also made the list, with shares rising 4% and 6.4%, respectively, this week, as of Friday's open.
[1/2] A sign marks the headquarters of the coronavirus disease (COVID-19) vaccine maker Moderna in Cambridge, Massachusetts, U.S., April 28, 2022. REUTERS/Brian Snyder/LONDON, Dec 22 (Reuters) - U.S. biotech Moderna's (MRNA.O) planned vaccine manufacturing centre in Britain will create more than 150 new jobs in the country, the UK government said on Thursday. Moderna's COVID-19 vaccines, which use messenger RNA (mRNA) technology, were among those deployed in Britain in the effort to tackle the coronavirus crisis, including in the ongoing autumn booster campaign. The facility, which is expected to start producing shots in 2025, will provide patients in Britain access to domestically manufactured mRNA respiratory shots, including the company's COVID vaccine that can protect against multiple variants. ($1 = 0.8288 pounds)Reporting by Natalie Grover in London; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Experts say China could face more than a million COVID deaths next year. Authorities in Sanya on the southern Hainan island have lined up 18 pharmacies to distribute free drugs. mRNA VACCINES FOR GERMANSIn China, only deaths caused by pneumonia and respiratory failure after contracting COVID are being classified as COVID fatalities. Germany said it has sent its first batch of BioNTech (22UAy.DE) COVID vaccines to China to be administered initially to German expatriates. China has nine domestically developed COVID vaccines approved for use.
There is no evidence to support a claim that COVID-19 vaccinations were a ploy to inject people with an infectious disease that will lead to a new pandemic. Fact sheets for the Janssen (J&J) and Novavax COVID-19 vaccine are available (here ) (here ). Ingredients described in the fact sheets for the Pfizer and Moderna vaccines include mRNA, lipids, sucrose and tromethamine, a chemical (here) (page 3), (here) (page 34). There is no evidence of the COVID-19 vaccines containing any substance that could cause an infectious disease pandemic. All vaccine ingredients, pharmacology and toxicology for COVID-19 vaccines approved in the United States are published online.
"I can confirm a shipment of the BioNTech vaccine is on its way to China," the person told journalists in Berlin. In return, Chinese citizens in Europe can be vaccinated with China's SinoVac (SVA.O), the spokesperson said. Experts predict that the country of 1.4 billion people could face more than a million COVID deaths next year. China is stuck between rising Covid-19 cases and stalled vaccination ratesNO WESTERN SHOTSChina has nine domestically developed COVID vaccines approved for use, more than any other country. While the shots became available in Hong Kong, Macau and Taiwan, the regulatory review for mainland China has not been concluded.
watch nowCNBC's Jim Cramer on Wednesday highlighted technology and real estate stocks he believes can perform well in 2023, following a dismal year for both sectors. Rising interest rates presented challenges for tech and real estate industries in 2022. Information technology is down 27% year to date, as of Wednesday's close, while real estate has fallen 28.4% over the same stretch. Real estate picks for 2023Loading chart...Cramer said he likes Realty Income because its top retail tenants — such as Dollar General, Walgreens and 7-Eleven — have businesses that can hold up during a potential recession. While shares of Federal Realty have fallen around 25% in 2022, Cramer said the stock has been a solid long-term performer.
Stephen Weiss, chief investment officer and managing partner at Short Hills Capital Partners, bought Moderna , and sold Merck — though he still expects the latter is a solid pharmaceutical stock. "Some days I regret selling because it's still a cheap stock, still extremely well-run, I think the best-run pharma company." Moderna shares have recently attracted investors' interest following the announcement of an experimental melanoma vaccine . Shares of Moderna are down roughly 18% this year, while shares of Merck is up nearly 45% in 2022. To this, Weiss added that "there's no other drug company, biotech company" with the pipeline that Moderna has.
A sign is posted in front of the Gilead Sciences headquarters on April 29, 2020 in Foster City, California. Check out the companies making the biggest moves midday:General Mills — General Mills dropped 4.2%, despite reporting better-than-expected revenue and profit for the last quarter. Gilead Sciences — Gilead Sciences sank 2.4% after announcing its Kite unit would acquire biotech company Tmunity Therapeutics. Tesla – Shares of Tesla sank 5.3% after Evercore ISI lowered its price target on them, citing concerns as the stock failed to hold a key level. Arch Capital — The Bermuda-based insurance company rose 2.5%.
Big Pharma will find right formula for M&A binge
  + stars: | 2022-12-20 | by ( Aimee Donnellan | ) www.reuters.com   time to read: +3 min
The year 2022 was relatively thin for pharma M&A, with deals worth nearly $66 billion being announced by early December – 60% below the 9-year average, according to Refinitiv data; 2023 will be better. It helps that drug companies are relatively healthy, with debt around just 1.6 times forecast EBITDA in 2023, according to Berenberg analysts. Seagen (SGEN.O), for example, worth $22 billion in early December, has fought off Merck & Co (MRK.N). That puts Big Pharma in an ideal negotiating position. CONTEXT NEWSGlobal pharmaceutical companies spent nearly $66 billion on takeovers in 2022, according to data from Refinitiv as of Dec. 7.
[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 14 points, or 0.04%, S&P 500 e-minis were up 4.5 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.2%. Moderna Inc (MRNA.O) advanced 2.7% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities. Reporting by Shubham Batra and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Futures higher after two-week selloff, Tesla jumps on Musk poll
  + stars: | 2022-12-19 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. REUTERS/Andrew KellySummarySummary Companies Futures up: Dow 0.31%, S&P 0.40%, Nasdaq 0.49%Dec 19 (Reuters) - U.S. stock index futures edged higher on Monday after equities suffered two straight weeks of losses, while Tesla shares rose after CEO Elon Musk launched a poll asking if he should quit as Twitter's boss. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 102 points, or 0.31%, S&P 500 e-minis were up 15.5 points, or 0.4%, and Nasdaq 100 e-minis were up 55.5 points, or 0.49%. Moderna Inc (MRNA.O) advanced 4.2% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities.
Moderna has a game-changing drug pipeline for 2023, according to Jefferies. Analyst Michael Yee upgraded Moderna to buy from hold, saying a promising new cancer vaccine from the pharmaceutical company has renewed interest in the stock. The Covid vaccine story is old and numbers came way down already and most investors don't care much on this anymore. New story is now PCV cancer vaccine opportunity, Phase III RSV data coming up, doublet and triplet virus vaccines in 2023," Yee wrote in a Monday note. "We see stock rebounding back up in 2023, a return of pipeline opportunities and a 'story stock' as generalist and HC interest revisits the stock," Yee added.
Club holding Amazon (AMZN) price target cut to $150 per share from $170 at Evercore ISI. Piper has an odd number cut on Exxon (XOM), not a Club stock, even though very positive. 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.
Aerojet Rocketdyne rose 2% in the premarket, while L3Harris fell 1.7%. Meta fell 1.4% in premarket action. Warner Music Group (WMG) – Warner Music shares rallied 3% in the premarket after Atlantic Equities upgraded the stock to overweight from neutral. The firm said Warner Music has shown that it can continue to deliver growth in streaming despite a difficult economic backdrop. Moderna (MRNA) – The vaccine maker jumped 3.8% in premarket trading after Jefferies upgraded the stock to buy from hold, noting a robust pipeline beyond Covid treatments.
Here are Monday's biggest calls on Wall Street: Morgan Stanley names Microsoft a top 2023 pick Morgan Stanley said it sees accelerating earnings per share growth for Microsoft in 2023. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley raised its price target on Netflix to $275 per share from $250 but said the valuation has come too far too fast. Telsey names Amazon a top 2023 pick Telsey said the e-commerce giant will continue to gain share in 2023. " Morgan Stanley names Formula One Group a top 2023 pick Morgan Stanley said the company is top beneficiary in the rising popularity of auto racing. Goldman Sachs names SolarEdge a top 2023 pick Goldman said shares of the solar company are attractive heading into next year. "
Moderna shifts focus to developing cancer vaccinations
  + stars: | 2022-12-19 | 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 shifts focus to developing cancer vaccinationsMichael Yee of Jefferies joins 'Closing Bell' to discuss Moderna's shift away from Covid-focused pharmaceuticals toward PCV cancer vaccination, the market size for personalized cancer vaccines and the Moderna-Merck partnership.
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As of Friday's open, these are some of the stocks poised to buck this week's negative trend. This week's top performer was vaccine maker Moderna , with shares up nearly 17% as of Friday's open. Homebuilding stocks Lennar and PulteGroup are also on pace to finish the week on a positive note. Shares of both stocks are down more than 19% this year, but were on pace to gain about 6% for the week as of Friday's open. About 47% of analysts say shares are a buy, offering 10.6% upside from Thursday's close.
Dec 16 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Friday it planned to hold a meeting of outside experts next month to discuss whether initial doses of COVID-19 vaccines need to be updated to combat circulating variants. While updated booster doses from Pfizer (PFE.N) and Moderna (MRNA.O) are already approved for adults as well as children as young as five years, the FDA said it was important to weigh in on the composition of both initial and booster doses as new variants spread. The independent advisers, who are scheduled to meet on Jan. 26, are also expected to weigh in on whether the timing or composition of booster doses need to be adjusted. In June, advisers to the FDA had recommended a change in the composition of COVID-19 booster shots before fall to combat more recently circulating variants of the coronavirus. Reporting by Bhanvi Satija and Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Personalized cancer vaccines could provide a new way to fight early cancer cases. Moderna CEO Stéphane Bancel told Insider he thinks cancer vaccines can upend cancer care. In an interview, Bancel shared his vision on how these personalized cancer vaccines could transform cancer care. Based off the blood work, Moderna would design vaccines that target the genetic mutations in cancerous cells that stand out from healthy cells. The blood tests could find cancer before it grows too much, and mRNA vaccines could squash it.
Ron DeSantis intensified his attacks on the COVID-19 vaccines on Tuesday, in a move that positions the Republican governor to contrast his pandemic record with that of former President Donald Trump. It's not clear whether Trump will lean into his success on the COVID-19 vaccine through his Operation Warp Speed program. Then-President Donald Trump with then-Florida governor candidate Ron DeSantis at a July 2018 “Make America Great Again” rally in Tampa, Florida. For instance, the FDA and CDC have cleared the bivalent booster for those as young as 6 months of age depending on what COVID-19 vaccine a person has previously had. The committee will issue guidance about COVID vaccines and other healthcare matters.
Tesla (TSLA) – Goldman Sachs cut its price target for Tesla to $235 per share from $305, citing softer demand. Tesla shares are down about 40% since the end of September, and briefly dipped below $500 billion in market value Tuesday. Moderna (MRNA) – Moderna rose another 1.6% in premarket trading on top of yesterday's 19.6% gain. Aspen Group (ASPU) – Aspen Group rallied 14.8% in premarket action after the online education company reported better-than-expected quarterly revenue and improved profit margins. The firm said Paccar is among the industrial stocks poised to benefit from a sector recovery.
Check out the companies making the biggest moves midday:SoFi Technologies — The fintech stock jumped more than 7% after a filing showed CEO Anthony Noto bought $5 million in common stock. Charter Communications — Charter Communications dropped more than 13% after CEO Chris Winfrey said at an investor event the company will invest $5.5 billion over three years to upgrade its high-speed internet network. Morgan Stanley said it was a top auto pick for 2023. RingCentral — Shares of RingCentral climbed 4.8% after being upgraded by Morgan Stanley to overweight from equal weight. In its call, Morgan Stanley said the software company is underappreciated.
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