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Earlier in the session, the conglomerate's stock reached all-time highs, following strong operating earnings in its fourth quarter. Pilgrim's Pride — Shares climbed 6.2% after the meat processing company beat Wall Street's expectations for the fourth quarter. Amer Sports — The athletic retailer climbed 3% on the back of a slew of bullish calls from Wall Street analysts. Fresh Del Monte Produce — Shares fell 2% after the agriculture company reported quarterly results that fell short of expectations. Revenue of $1.01 billion was lower than the consensus estimate of $1.03 billion.
Persons: Berkshire Hathaway —, Morgan Stanley, Pilgrim's, FactSet, Wilson, Arc'teryx, — CNBC's Brian Evans, Michelle Fox, Lisa Kailai Han, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Berkshire, U.S . Securities, Exchange Commission, Amer, Wall Street, Micron Technology, , HSBC, Alcoa —, Alcoa, Fluence Energy, Susquehanna Financial, Produce, FactSet, PPG, PPG Industries Locations: FactSet ., U.S, Canada
Moderna on Thursday posted a surprise quarterly profit, in part boosted by deferred revenue, even as the company saw slumping sales from its Covid vaccine, its only marketable product. The biotech company booked fourth-quarter sales of $2.81 billion, with sales of its Covid shot dropping 43% from the same period a year ago. That includes charges related to the company's efforts to scale back manufacturing of its Covid shot and write-downs of unused doses of the vaccine. Still, the deferred revenue boosted Moderna's full-year Covid vaccine sales to $6.7 billion, an amount the company first unveiled in January. It booked $18 billion in revenue in 2022 and expects sales from the shot to drop even further in 2024.
Persons: Jamey Mock, Moderna, Mock Organizations: Moderna, LSEG, Revenue, CNBC, Food, Drug, Merck Locations: Gavi
Nvidia earned $5.16 per share on an adjusted basis and $22.1 billion in revenue, higher than the $4.64 per share and $20.62 billion analysts polled by LSEG had expected. Moderna — Shares popped 12% after the vaccine maker beat fourth-quarter revenue expectations , lifted by deferred revenue and cost cuts. Moderna's top line came out to be $2.81 billion, while analysts polled by LSEG had expected $2.50 billion. Quanta Services — The infrastructure stock popped nearly 10% following a fourth-quarter earnings beat. Keurig Dr Pepper reported $3.87 billion in in fourth quarter revenue, below the $3.92 billion expected by analysts, according to FactSet.
Persons: LSEG, Cantor Fitzgerald, Etsy, Rivian, Synopsys, Morgan Stanley, Coty —, TD Cowen, FactSet, Keurig Dr Pepper, Dr Pepper, — CNBC's Michelle Fox, Alexander Harring, Yun Li, Jesse Pound, Pia Singh, Samantha Subin Organizations: Nvidia, Moderna, LSEG, Coty, Scotiabank, Mosaic
Boeing, the leadership from the top is the only leadership government cares about," Jim Cramer said Thursday. Dow stock Boeing was down slightly. Etsy : Shares of the online marketplace for handmade goods dropped 8% on an earnings miss and a softer-than-expected guide. "I have nothing but good things to say about Royal Caribbean," Jim said. "People are traveling," he said, adding he likes Southwest Airlines here.
Persons: Jim Cramer, Cramer, Jim, RJ Scaringe, Scaringe Organizations: Boeing, Max, Dow, plummetted, Royal, Southwest Airlines Locations: Caribbean
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q4 results: There is so much more to Moderna than CovidModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted a surprise quarterly profit, boosted by deferred revenue and cost cuts even as the company saw slumping sales from its Covid vaccine, what's in the company's drug pipeline, growth outlook, and more.
Persons: Stephane Bancel Organizations: Email Moderna, Covid Moderna Locations: Moderna
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorning Meeting rapid fire: Boeing, Etsy, Moderna, Rivian and Royal CaribbeanJim Cramer gives his thoughts on five stocks in the news Thursday.
Persons: Jim Cramer Organizations: Boeing, Etsy, Rivian, Royal
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPfizer's expectations have been rightsized, has potential for $5 EPS: Cantor Fitzgerald's ChenLouise Chen, Cantor Fitzgerald, and Michael Yee, Jefferies, joins 'Power Lunch' to discuss Chen's bull case for Pfizer, Yee's bull case for Moderna, and more.
Persons: Fitzgerald's Chen Louise Chen, Cantor Fitzgerald, Michael Yee, Jefferies Organizations: Pfizer, Moderna
The company also said revenue in the current quarter would be stronger than Wall Street forecasted. Moderna — Shares were up more than 5% after the vaccine maker posted a greater-than-expected revenue for the fourth quarter. The company's top line registered at $2.81 billion, while analysts polled by LSEG had forecast a print of $2.50 billion. Lucid — Shares pulled back more than 7% after the luxury electric vehicle company missed revenue estimates in the fourth-quarter. Specifically, Lucid posted $157 million, while analysts expected $180 million, per LSEG.
Persons: LSEG, Lucid, Cantor Fitzgerald, , Rivian, Synopsys, Morgan Stanley, FactSet, Remitly, TD Cowen, Oliver Chen, KeyBanc, — CNBC's Brian Evans, Lisa Kailai Han, Fred Imbert, Sarah Min Organizations: Nvidia, Wall, , Moderna, LSEG, BMO Capital Markets, Coty —, ASML, HSBC, Gates Locations: Thursday's premarket, Wednesday's
Some stocks could post sizable moves this week on the back of corporate earnings reports this week. Wall Street expects more steam ahead, with the typical analyst surveyed by FactSet holding a buy rating and price target reflecting nearly 10% in upside. His price target of $2 implies shares can add almost 190%. Meanwhile, the average analyst polled by FactSet has a hold rating on the penny stock, but the same price target as Kallo. But he cut his price target by $3 to $80 on Friday ahead of the report.
Persons: Berkshire Hathaway, it's, Raymond James, Srini Pajjuri, Pajjuri, Nikola, Baird, Ben Kallo, NKLA, Kallo, FactSet, Christopher Horvers, bullish Organizations: Nvidia, Moderna, Berkshire, CNBC Pro, CNBC Locations: Lucid
S&P 500 futures edged up in overnight trading Wednesday, boosted by a jump in Nvidia shares as the chip giant posted record revenue and issued upbeat guidance. S&P 500 futures rose 0.5% and Nasdaq 100 futures gained 1%. Nvidia shares popped more than 8% in after-hours trading after the chip company said total revenue rose a whopping 265% from a year ago, driven by its booming artificial intelligence business. AI enthusiasm has powered the jaw-dropping rally in Nvidia, along with other Big Tech names, over the past year. "Investors should know that the path of disinflation will likely be choppy, creating volatility in the rates market," said Jeffrey Roach, chief economist at LPL Financial.
Persons: David Russell, Jeffrey Roach Organizations: New York Stock Exchange, Nasdaq, Dow Jones, Nvidia, Big Tech, Bears, Federal, LPL, Moderna, Builders, Live, Booking Holdings, Intuit Locations: U.S
The woman behind the next big thing in cancer treatment
  + stars: | 2024-02-20 | by ( Katie Hunt | ) edition.cnn.com   time to read: +12 min
Christine Olsson/AFP/Getty ImagesWu’s research focused on small mutations in cancer tumor cells. However, in many cases, cancer vaccines have failed to live up to their promise — largely because the right target hasn’t been found. “This is a fantastic discovery.”By sequencing DNA from healthy and cancer cells, Wu and her team identified a cancer patient’s unique tumor neoantigens. More work is needed before they are a viable treatment options for many cancer patients. To show that these type of cancer vaccines work, much larger randomized control trials are needed.
Persons: Catherine Wu, Boston’s Dana, , , Wu, Lendahl, Dr Patrick Ott, Sam Ogden, Honjo, James Allison, Tasuku Honjo, James P Allison, Christine Olsson, ” Hans, Gustaf Ljunggren, Matt Stone, “ I’m, ” Wu, ” Lendahl, you’ve, It’s, ” Barbara Brigham, BioNTech, ” CNN’s Brenda Goodman Organizations: CNN, Farber Cancer Institute, Royal Swedish Academy of Sciences, Karolinska, Getty, US Food and Drug Administration, FDA, MediaNews, Boston Herald, Merck, Moderna, , Covid Locations: Sweden, BioNTech, Rome
A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale
As the market seesaws, Wolfe Research is eyeing stocks where it thinks downward pressure is building. But no matter which way the market heads from here, Wolfe thinks there are some stocks that could make for profitable short selling targets. Tesla has the second-most mentions among Wolfe's short interest screens with six, trailing Walgreens , which has seven. The stock's short interest hovers around 16% of float, and it appears on seven of Wolfe's short screens. DraftKings now appears on four of Wolfe's short screens, up from three in the month prior.
Persons: Wolfe, Tesla, DraftKings Organizations: Wolfe Research, Reserve, Dow Jones Industrial, Walgreens, LSEG, Hasbro, Moderna Locations: chug
The Dow Jones Industrial Average, S & P 500 and the Nasdaq Composite each snapped a five-week advance. On average, market strategists on Wall Street anticipate the S & P 500 will end the year at 4,936, according to a CNBC survey . The equal-weighted S & P 500 index is up just 1.7% in 2024, trailing far behind the market-cap weighted benchmark. Initial Claims (02/17) 9:45 a.m. PMI Composite preliminary (February) 9:45 a.m. S & P PMI Manufacturing preliminary (February) 9:45 a.m. S & P PMI Services preliminary (February) 10 a.m. Existing Homes Sales (January) Earnings: Booking Holdings , Live Nation Entertainment , Intuit , Edison International , Dominion Energy , Moderna , PG & E , Keurig Dr. Pepper Friday, February 23, 2024 Earnings: Warner Bros.
Persons: chipmaker, Ayako Yoshioka, Yoshioka, Jerome Powell, Josh Emanuel, everybody's, Emanuel, Russell, They're, Chris Chen, Chen, Dr, Pepper, Nick Wells, Kif Leswing Organizations: Nvidia, CNBC, Dow Jones, Nasdaq, Federal Reserve, Investor, Treasury, Wilshire Associates, American Association of, Insight Financial, Walmart, Home, Alto Networks, Diamondback Energy, Caesars Entertainment, Marathon, Devices, Chicago, PMI, Holdings, Nation Entertainment, Intuit, Edison International, Dominion Energy, Moderna, Warner Bros Locations: U.S, Santa Monica, Calif
Phillippe Laffont's Coatue made a flurry of changes to his portfolio in the fourth quarter, including shifts within the technology sector in the midst of the fourth quarter's big rally. Nvidia and Meta are only two of many notable cutbacks made by Laffont in the fourth quarter. Beyond Nvidia and Meta, Advanced Micro Devices , Amazon , Microsoft , Netflix and Tesla are the next biggest holdings in the fund. As of the fourth quarter, technology accounts for more than 59% of Coatue, according to InsiderScore. The Nasdaq finished 2023 up more than 43%, helped by a gain of more than 13% in the fourth quarter alone.
Persons: Phillippe Laffont's Coatue, Julian Robertson, Daniel Sundheim's, Laffont, Eli Lilly Organizations: Tiger Management, Nvidia, Meta, Taiwan Semiconductor, MIT, Intuit, Apple, Devices, Microsoft, Netflix, Tesla, Technology, Nasdaq, Ford, Moderna, Paramount Global Locations: Taiwan, Salesforce
A CVS store in Ohio was in a state of disarray when the State of Ohio Board of Pharmacy visited it. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The decision follows an investigation by the State of Ohio Board of Pharmacy, which sent inspectors to CVS' store in Canton, north-east Ohio, in mid-September 2021. The pharmacy was more than a month behind in filling prescriptions, the worker said. The Board said on Tuesday that the store would have to pay a monetary penalty of $250,000.
Persons: , they'd, We've, We're Organizations: of Ohio, of Pharmacy, Service, CVS, State of Ohio, Staff Locations: Ohio, Canton
The U.S. population is getting older and per capita health care spending has been rising — other than the pandemic blip — very steadily for half a century. We'll detail a simple trade on a resilient health care industry stock that stands to benefit from that long-term trend. Becton Dickinson (BDX) has a large array of healthcare products and consequently doesn't exhibit the volatility that some other health care companies have like biotech. Unsurprisingly, when we look at the health care sector, we also see consistent long-term growth. The Health Care Select Sector Index (IXV) includes more than 60 companies in pharmaceuticals, biotech, equipment, managed care, service providers and distribution.
Persons: Becton Dickinson Organizations: Moderna Inc
GlaxoSmithKline on Wednesday lifted its long-term outlook following the smash-hit launch of its new RSV vaccine. GSK in November had forecast 2023 sales for the shot Arexvy between £900 million, or $1.1 billion, and £1 billion, or $1.26 billion, following its strong launch in the U.S. The company's RSV shot in part drove the higher forecast. The vaccine has about 70% market share for RSV, Walmsley added on Wednesday. Meanwhile, biotech company Moderna hopes to launch its own RSV vaccine this year.
Persons: Emma Walmsley, Walmsley, Arexvy, That's, Pfizer's, Albert Bourla, Bourla Organizations: GlaxoSmithKline, Stevenage, GSK, U.S, Pfizer, U.S . Food, Drug Administration, Moderna Locations: Britain, British, U.S, Canada, Japan
CNN —An artist who appeared nude in a highly publicized piece by famed performance artist Marina Abramović is suing New York’s Museum of Modern Art (MoMA) after he said he was sexually assaulted during the 2010 event. In the lawsuit obtained by CNN, New York artist John Bonafede claims MoMA didn’t do enough to protect him and fellow nude artists from assault. “Imponderabilia” was one part of “The Artist is Present,” a larger MoMA exhibition celebrating Abramović’s storied career. Several “Imponderabilia” performers reported being groped during the 2010 exhibit. Abramović’s “Imponderabilia” was originally staged in 1977 at the Galleria Communale d’Arte Moderna, in Bologna, Italy, with Abramović and her former partner, the late German performance artist Ulay.
Persons: Marina Abramović, John Bonafede, Bonafede, Imponderabilia ”, Abramović’s, , ” “ John, Jordan Fletcher, , ” Bonafede, Abramović, Ulay Organizations: CNN, New York’s Museum of Modern Art, York, MoMA, Marina Abramović Institute, New York Times, Galleria Communale d’Arte Moderna, London’s Royal Academy of Arts Locations: CNN , New York, Bologna, Italy, London
Bristol Myers Squibb's Eliquis is a blood thinner used to prevent clotting, to reduce the risk of stroke. Bristol Myers Squibb's Opdivo is an immunotherapy used to treat cancers, including melanoma and lung cancer. Investors will get updates on Merck and Bristol Myers Squibb's plans for the years ahead when they report earnings on Thursday and Friday, respectively. That's unlike generics, which are cheaper copycats of small-molecule drugs like Bristol Myers Squibb's Eliquis. Bristol Myers Squibb is also testing a new form of Opdivo, which is currently administered into a patient's veins.
Persons: Johnson, William Blair, Matt Phipps, Bristol Myers, Johnson's, Merck's Keytruda, J's Stelara, Opdivo, Phipps, biosimilars, Eliquis, Biosimilars, Humira, JB Reed, Samsung's, Piper Sandler, Christopher Raymond, AbbVie, Raymond, Chris Schott, Schott, Robert Davis, Keytruda, Davis, JPMorgan's Schott, Bristol Myers Squibb, George Frey, J, Amgen, J confidentially, Mike Perrone, It's, Anna Moneymaker Organizations: New York Stock Exchange, Johnson, NYSE Big, Bristol Myers Squibb, Merck, Biden, William Blair & Company, CNBC, Guggenheim, Bristol, Leerink Partners, Bloomberg, Getty, Bioepis, JPMorgan, JPMorgan Health Care, Moderna, Bristol Myers, Karuna Therapeutics, Hardy, Huntsman Cancer Institute, University of Utah, Reuters, Teva Pharmaceuticals, Pharma, U.S . Department of Health, Human Services Locations: drugmakers, EY, Europe, U.S, Cambridge , Massachusetts, Arda, EY's Americas, Bristol, Salt Lake City , Utah, Washington , DC
Sen. Bernie Sanders, I-Vt., holds his news conference with Sen. Ed Markey, D-Mass., in the Capitol on Thursday, January 25, 2024, on issuing subpoenas for pharmaceutical company CEOs to testify regarding drug prices. The CEOs of Merck and Johnson & Johnson have voluntarily agreed to testify at an upcoming Senate hearing on high drug prices in the U.S., Sen. Bernie Sanders announced Friday, as lawmakers ramp up efforts to rein in health-care costs for Americans. Meanwhile, Bristol Myers Squibb CEO Chris Boerner and another unnamed pharmaceutical CEO agreed to initial invitations to testify. The push to cut drug prices is one of the rare issues that has united both major political parties in recent years — though they have often backed different approaches to doing so. Last year, the Senate Health Committee similarly heard testimony from the CEOs of Moderna , Eli Lilly , Novo Nordisk and Sanofi on high drug prices.
Persons: Sen, Bernie Sanders, Ed Markey, Johnson, Joaquin Duato, Robert Davis, Chris Boerner, Sanders, Januvia, Bristol Myers, Joe Biden's, J, Eli Lilly Organizations: Merck, Johnson, Health, Education, Labor, Pensions, Bristol Myers, Bristol, J, Moderna, Novo Nordisk, Sanofi Locations: U.S
Cramer's Lighting Round: 'Hold on to' BioNTech
  + stars: | 2024-01-16 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Amphastar's year-to-date stock performance. Stock Chart Icon Stock chart icon Moderna's year-to-date stock performance. Stock Chart Icon Stock chart icon BioNTech's year-to-date stock performance. Stock Chart Icon Stock chart icon Pan American Silver's year-to-date stock performance. Stock Chart Icon Stock chart icon Lockheed Martin's year-to-date stock performance.
Persons: Becton Dickinson, let's, Stephane Bancel, Lockheed Martin, Barry Sternlicht Organizations: Pan, Lockheed, Starwood, Starwood Property Locations: Moderna
Fourth-quarter earnings season is kicking off with a mix of good and bad news. Without those six stocks, the rest of the S & P is expected to see earnings fall 6%. There's a lot riding on earnings in 2024 For the S & P 500 to increase in 2024, earnings need to expand. But with the S & P 500 up over 20% last year, the forward earnings multiple is roughly 19.6, in the very pricey range. We need higher revenues The biggest risk to higher earnings is lower revenue growth.
Persons: Savita Subramanian, General Mills, Mobileye, Nick Raich, Adam Crisafulli, BofA's Subramanian, Deutsche, Binky, Sam Stovall Organizations: Pfizer, Merck, Moderna, Bank of America, Nvidia, Microsoft, Apple, Nike, FedEx, General, Darden, Constellation Brands, Technology, Samsung Electronics, Vital, Deutsche Bank's Locations: Wayfair, Conagra
Lightning Round: I'd back Moderna here, says Jim Cramer
  + stars: | 2024-01-16 | by ( Jim Cramer | ) 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 EmailLightning Round: I'd back Moderna here, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Moderna, Haleon, Lockheed Martin and more.
Persons: Jim Cramer, Lockheed Martin Organizations: Moderna, Lockheed Locations: Moderna, Haleon
Tech stocks have been the laggards so far in the new year, with the Nasdaq Composite on pace to end the week more than 2% lower. Against this backdrop, CNBC screened for the most oversold and overbought stocks, measured by the relative strength index, or RSI. The RSI captures the strength and speed of stock price moves and is a useful measure of whether stocks are overbought or oversold. AAPL YTD mountain Apple stock. Other oversold tech names on the list includes software company Synopsys , which has a 14-day RSI of 14.86.
Persons: Piper Sandler, Synopsys, Oppenheimer Organizations: Nasdaq, Apple, CNBC, RSI, Barclays, FactSet, Reuters, Moderna Locations: Apple —, Moderna
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