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☆ Pfizer swings to quarterly loss due to Paxlovid, Covid vaccine write-offs
▼ + stars: | 2023-10-31 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Pfizer on Tuesday reported a narrower-than-expected adjusted loss for the third quarter as the drugmaker recorded charges largely related to struggles for its Covid antiviral treatment Paxlovid and the Covid vaccine. Pfizer said it recorded a $5.6 billion charge for inventory write-offs in the third quarter due to lower-than-expected use of Covid products. Of these write-offs, $4.7 billion is chalked up to Paxlovid and $900 million is attributed to the company's vaccine. For the third quarter, Pfizer booked a net loss of $2.38 billion, or 42 cents per share. Meanwhile, the pharmaceutical giant expects its Covid antiviral treatment Paxlovid to bring in $1 billion in revenue.

Persons: Paxlovid Organizations: Pfizer, LSEG, U.S . Locations: U.S, Monday's

☆ Morning Bid: Markets hold their nerve amid Mid East trouble
▼ + stars: | 2023-10-30 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Oct 30 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Most talk is it will stay on hold this time, but will discuss laying the groundwork for an eventual shift. Any tweak would see Japanese yields rise and add to the pain being felt in the Treasury market, where 10-year yields nudged up to 4.87% on Monday with scant sign of any safe haven bid. Analysts at NatWest Markets expect $885 billion of marketable borrowing in Q4 and $700 billion in Q1. It is also notable that the borrowing kept climbing even though the economy surprised everyone with its strength.

Persons: Wayne Cole, It's, Eli Lilly, Luis de Guindos, Erik Thedéen, Muralikumar Organizations: Nikkei, Bank of Japan, Ichi, Insurance, Reuters, Treasury, NatWest Markets, Federal Reserve, Apple, Thomson Locations: Wayne, Gaza, China

☆ Asia stocks mull over Middle East, central bank meetings
▼ + stars: | 2023-10-30 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

The earnings season also continues with Apple, Airbnb, McDonald's, Moderna and Eli Lilly & Co among the many reporting this week. Early on Monday, S&P 500 futures had edged up 0.3% to 4,151, while Nasdaq futures added 0.5%. Japan's Nikkei (.N225) fell 1.1% amid speculation the Bank of Japan (BOJ) might tweak its yield curve control (YCC) policy after its two-day policy meeting wraps up on Tuesday. The Bank of England is also expected to stay on hold this week, with markets pricing around a 70% chance it is done tightening altogether. Oil prices eased as worries about demand outweighed risks to Middle East supplies, at least for the moment.

Persons: Issei Kato, BoE, BOJ, Eli Lilly, China Evergrande, Treasuries, Goldman Sachs, reacceleration, Brent, Wayne Cole, Jamie Freed Organizations: REUTERS, Nikkei, Apple, Moderna, Nasdaq, HK, Japan's Nikkei, Bank of Japan, Barclays, Treasury, NatWest, Federal Reserve, Bank of England, Capital, Thomson Locations: Tokyo, Japan, U.S, Gaza, payrolls SYDNEY, United States, Britain, McDonald's, Gaza's, Iranian, Asia, Pacific, China, Israel, East

☆ How the Fed is using its multi-trillion-dollar balance sheet to fight inflation
▼ + stars: | 2023-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —The Fed’s fight against inflation is about to enter a new phase, but the central bank’s enormous balance sheet will continue to play a key role. The Fed also manages a multi-trillion-dollar balance sheet that accounts for trillions in government securities and lists how much currency is in circulation. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. The Fed’s balance sheet is currently at around $7.9 trillion, down from its peak of $9 trillion in early 2022 right before the runoff. They also see alternative scenarios for the end of the balance sheet runoff if there isn’t a recession.

Persons: that’s, Lael Brainard, What’s, Wells, Jerome Powell, JPMorgan Chase’s Jamie Dimon, Jamie Dimon, Krystal Hur, Dimon —, Mr, Dimon, JPMorgan Chase, what’s, Estee Lauder, Kraft Heinz, Yum, Bausch, Eli Lilly, Molson Organizations: CNN Business, Bell, DC CNN, Congress, Fed, Wall Street, JPMorgan, JPMorgan Chase, CNN, HSBC, McDonald’s, China’s National Bureau of Statistics, Bank of Japan, Pfizer, Caterpillar, Marathon Petroleum, Sirius XM, Anheuser, Busch, BP, Chesapeake Energy, US Labor Department, Global, Board, CVS, GSK, Humana, Reuters, Apollo Global Management, Brands, Garmin, Cruise Line Holdings, Qualcomm, Airbnb, PayPal, MetLife, Aflac, AIG, Allstate, Prudential, P Global, Institute for Supply Management, Federal Reserve, ConocoPhillips, Starbucks, Duke Energy, Shopify, Ferrari, Marriott International, Moderna, Fox, Molson Coors, Hyatt, Apple, Motorola, Bank of England, Dominion Energy, Gartner, Restaurant Brands Locations: Washington, Treasuries, China’s, Mondelez, DoorDash, Avis, Shell, Cigna

☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ These stocks reporting next week typically beat the Street and rally
▼ + stars: | 2023-10-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The following stocks have beat analyst expectations at least 85% of the time and rise at least 1% on average after they release their earnings results, per data from Bespoke Investment Group. The company has managed to beat earnings and revenue estimates 96% and 89% of the time, respectively. ANET YTD mountain ANET in 2023 Workiva Workiva is another cloud software company that made the cut. Workiva also has a strong history of outperforming estimates, with 100% and 97% earnings and revenue beat rates, respectively. Workiva shares have tumbled about 16% from their year-to-date highs in September, paring some of the stock's year-to-date gains down to 12.5%.

Persons: Eli Lilly, Goldman Sachs, We're, Michael Ng, Workiva, paring, — CNBC's Michael Bloom Organizations: Apple, Moderna, PayPal, Starbucks . Companies, CNBC Pro, Investment, Apple Investors, JPMorgan, Arista Networks, Evercore ISI Locations: China

☆ Here are the most oversold stocks due for a bounce following the market's tough week
▼ + stars: | 2023-10-27 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The Nasdaq and the S & P 500 are each on pace for declines of about 2.5%. Some stocks hit by this week's losses have become oversold — and could be due for a bounce. Align Technology , another company that has taken a heavy beating to its stock price this week, could also be due for a comeback, based on analysts' price targets. The company's third-quarter results fell short of analysts' expectations , and a slate of analysts cut their price targets following the release. Analysts covering the stock forecast a 4.6% upside for the company's stock price, and less than 30% rate it a buy.

Persons: bode, Kevin Caliendo, Tesla, Henry Schein, Lockheed Martin, RTX, Greg Hayes, — CNBC's Michael Bloom Organizations: Tesla, Moderna, Nasdaq, Dow Jones, CNBC, Technology, UBS, Southwest Airlines, Aerospace, Lockheed, Dollar, Dwight, Marathon Oil, Allstate Locations: Covid, Ukraine, Israel

☆ The Fed decision and jobs report are in the week ahead as Wall Street wraps up a brutal month
▼ + stars: | 2023-10-27 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Federal Reserve meeting and October jobs report are on the docket next week as investors wrap up a brutal month for markets. Both the S & P 500 and Nasdaq Composite slid into correction territory this week following some disappointing megacap tech reports. "I suspect that the Fed is not going to comfort the market," said James Camp, managing director at Eagle Asset Management. Many investors expect stocks could remain choppy until the markets gain clarity on when the Fed will start to cut rates. Jobs report Investors will get another look into the labor market next week soon after the Fed decision.

Persons: Jerome Powell, James Camp, Dave Sekera, Sekera, Dow Jones, Nick Galluccio, you'll, Powell, Charlie Ripley, Ripley, Galluccio, we've, Eli Lilly Organizations: Reserve, Nasdaq, Eagle Asset Management, Fed, Teton Advisors, Treasury, Asset, Apple, Investors, Allianz Investment Management, Advisors, Dallas Fed, Simon Property, Semiconductor, Western, ECI Civilian Workers, Chicago PMI, Devices, Caesars Entertainment, Pfizer, GE Healthcare Technologies, Caterpillar, ADP, PMI, Manufacturing, Costco Wholesale, Qualcomm, Cruise Line Holdings, Brands, Labor, Factory, News Corp, Booking Holdings, Paramount Global, Moderna, Jobs, Services PMI, Health Locations: U.S, FactSet, Chicago

☆ Pfizer's combination Covid, flu vaccine will move to final-stage trial after positive data
▼ + stars: | 2023-10-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Pfizer on Thursday said its combination vaccine candidates targeting Covid and the flu will move to a final-stage trial in the coming months after showing positive initial results in an early to mid-stage study. Covid vaccine rates in the U.S. were bleak last year, and could look the same this year. The trial measured the safety, tolerability and efficacy of Pfizer's combination vaccine candidates among adults ages 18 to 64. The results showed that "lead" formulations of Pfizer's combination vaccine demonstrated robust immune responses to influenza A, influenza B and Covid strains, according to Pfizer. The safety profiles of the combination vaccine candidates were also consistent with the company's Covid vaccine.

Persons: BioNTech, Annaliesa Anderson, Pfizer's, Albert Bourla Organizations: Pfizer, BioNTech, Moderna Locations: U.S

Moderna on Tuesday announced that its combination shot for flu and COVID-19 is the first candidate to make it to late-stage trial. It “offers greater convenience and has the potential to lead to increased compliance with vaccine recommendations,” it added. The shots won’t be available for this respiratory virus season, as Moderna said it is targeting regulatory approval for the shot in 2025. Moderna earlier this month announced positive data from its earlier studies of the combo shot, finding that it produced an immune response similar to or greater than licensed flu shots and Moderna’s bivalent COVID-19 shot. “We are excited to move combination respiratory vaccines into Phase 3 development and look forward to partnering with public health officials to address the significant seasonal threat posed to people by these viruses.”

Persons: “, Moderna, bivalent, Stéphane Bancel Organizations: Moderna, Tuesday, Northern Hemisphere, Disease Control, ” Moderna Locations: Moderna

☆ Lightning Round: T-Mobile is the best buy in the telecom group, says Jim Cramer
▼ + stars: | 2023-10-24 | 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: T-Mobile is the best buy in the telecom group, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Moderna, Planet Fitness, MGM Resorts, AT&T and more.

Persons: Jim Cramer Organizations: Mobile, Moderna, MGM Resorts

☆ Cramer's Lightning Round: AT&T is 'not my favorite'
▼ + stars: | 2023-10-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Moderna's year-to-date stock performance. Stock Chart Icon Stock chart icon Planet Fitness's year-to-date stock performance. Stock Chart Icon Stock chart icon AT&T's year-to-date stock performance. Stock Chart Icon Stock chart icon Leonardo DRS's year-to-date stock performance. Stock Chart Icon Stock chart icon Marathon Digital's year-to-date stock performance.

Persons: they've, I'm, Wynn, Leonardo DRS's, Leonardo DRS Organizations: MGM Resorts, Mobile

☆ Covid Shots May Slightly Raise Stroke Risk in the Oldest Recipients
▼ + stars: | 2023-10-24 | by ( Apoorva Mandavilli | More About Apoorva Mandavilli | ) www.nytimes.com time to read: +1 min

The Covid vaccines made by Pfizer-BioNTech and Moderna may be linked to a slight increase in the risk of stroke when administered along with a high-dose flu vaccine, according to a new analysis by the Food and Drug Administration. The high-dose flu vaccine is usually given to older people, and the risk association is clearest in adults aged 85 and older. But that increase, if real, seems very small, and it is possible that the risk may stem from the flu vaccine alone. A separate analysis by the agency points to a small increase in the incidence of seizures after Covid vaccinations in children ages 2 to 5. Flu and Covid themselves both raise the risk of stroke.

Organizations: Pfizer, BioNTech, Food and Drug Administration

☆ Nike is among the most overbought stocks in the S&P 500. Here are the others
▼ + stars: | 2023-10-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

A stock with a 14-day RSI greater than 70 is considered to be overbought and at risk of a pullback. Here are some of the most overbought names: Sports apparel retailer Nike has a 14-day RSI of 81.89, and just under half of analysts covering the stock rate it a buy. Lockheed Martin is another one of the most overbought companies in the S & P 500. The U.S. defense contractor scored a 14-day RSI of 77.69, with a consensus price target implying 6.8% upside. Also on the oversold list is pharmaceutical company Moderna , which has a 14-day RSI reading of 15.5.

Persons: Piper Sandler, Lockheed Martin, Invesco, Jason Haas, Haas, — CNBC's Michael Bloom Organizations: Nike, Dow Jones, CNBC Pro, Insurance, Cardinal Health, Allstate, Humana, Investment, Hasbro, Wall, Bank of America, Monopoly, Moderna, Pfizer, FedEx Locations: U.S, Lowe's

☆ Japan agreed to buy additional COVID-19 vaccine doses from Pfizer and Moderna
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: 1 min

World category · October 24, 2023 · 1:14 AM UTCChina will do its utmost when it comes to contributing to Palestinian-Israeli reconciliation, its foreign minister told his Israeli counterpart in a phone call on Monday, according to Chinese state media.

Locations: China, Palestinian

☆ Exclusive: Lilly hires CordenPharma to make diabetes drug Mounjaro's active ingredient -source
▼ + stars: | 2023-10-19 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsLONDON, Oct 19 (Reuters) - Eli Lilly (LLY.N) has hired Switzerland-based contract drugmaker CordenPharma to produce the active ingredient in its diabetes drug Mounjaro, a source familiar with the matter told Reuters on Thursday. Lilly has said it expects U.S. approval for Mounjaro for weight loss by the end of the year. The source told Reuters that CordenPharma's factory in Colorado is under contract to make tirzepatide, the active ingredient in the weekly injection. Analysts estimate the obesity market could be worth as much as $100 billion in the next decade.

Persons: Eli Lilly, Mike Segar, drugmaker, CordenPharma, Lilly, Corden, Maggie Fick, Josephine Mason, Bill Berkrot Organizations: Company, REUTERS, Reuters, CordenPharma, Novo Nordisk, Mounjaro, Thomson Locations: Branchburg , New Jersey, Switzerland, United States, Colorado, Basel, Europe, Boulder , Colorado, Boulder

Consumer discretionary (.SPLRCD) and materials (.SPLRCM) led the gains across major S&P 500 sectors, while utilities (.SPLRCU) and energy stocks (.SPNY) lagged behind. Third-quarter earnings for S&P 500 companies are estimated to grow 2.2% year-on-year, LSEG data showed on Friday. Investors also await economic data including retail sales for September and the Philly Fed Business Index for October later this week. Lululemon Athletica (LULU.O) added 9.6% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard . The S&P index recorded nine new 52-week highs and six new lows, while the Nasdaq recorded 29 new highs and 148 new lows.

Persons: Brendan McDermid, Charles Schwab, Dow, Ross Mayfield, Baird, Goldman Sachs, Morgan Stanley, Johnson, Jerome Powell's, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Moderna, Dow, Nasdaq, Microsoft, Bank of America, Johnson, Tesla, Netflix, Investors, Philly, Dow Jones, Federal, Fed, Philadelphia Fed, Apple, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New York State, China, Bengaluru

☆ Pfizer, BioNTech shares fall on lower COVID product sales forecast
▼ + stars: | 2023-10-16 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/File photo Acquire Licensing RightsOct 16 (Reuters) - Shares of Pfizer (PFE.N) and German partner BioNTech (22UAy.DE) fell on Monday after the U.S. drugmaker slashed the sales forecast for its COVID vaccine and therapy last week, and some analysts said the reduction was bigger than expectations. The COVID sales forecast cut was bigger than expected, Wells Fargo analyst Mohit Bansal said, adding that Wall Street's COVID sales estimates for the next few years may come down. Shares in BioNTech, which is also developing cancer treatments, were down 6.7% at a two-month low in Frankfurt. Its U.S.-listed shares fell 6.8% in premarket trading, while Pfizer's shares fell 2%. The news also dragged down shares of rival COVID vaccine maker Moderna (MRNA.O) by 4.7%.

Persons: Dado, BioNTech, drugmaker, Wells, Mohit Bansal, Ludwig Burger, Rachel More, Miranda Murray, Jason Neely, Shounak Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, U.S, Its U.S, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Wells Fargo, BioNTech, Frankfurt, Its, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 and the Nasdaq dropped on Friday as deteriorating consumer sentiment data and the Middle East conflict kept investors away from riskier bets and overshadowed some upbeat earnings from big U.S. banks. Third-quarter earnings for the S&P 500 companies are estimated to grow 2.2% on an annual basis, LSEG data showed. Of the 32 S&P 500 companies that have reported results, 87.5% have surpassed expectations compared with the long-term average of 66.5%. Rival Moderna (MRNA.O) dipped 5.1%Lululemon Athletica (LULU.O) added 5.8% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard (ATVI.O).

Persons: Brendan McDermid, Antony Blinken, Pissouros, Goldman Sachs, Morgan Stanley, Johnson, Charles Schwab, Patrick Harker, Jerome Powell, Harker, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, Pfizer, Dow, Nasdaq, Treasury, XM, Bank of America, Johnson, Tesla, Netflix, Philly, New York, Philadelphia Fed, Federal, Chicago Fed, Dow e, Nvidia, Activision Blizzard, Thomson Locations: New York City, U.S, China, Israel, Gaza, United States, Bengaluru

Vaccine makers are depending on the U.S. market as many countries have more limited yearly campaigns for giving updated shots. For BioNTech, Moderna, and Novavax (NVAX.O), COVID vaccines remain their only approved products. Shares of Pfizer were up nearly 5%, however, buoyed by a $3.5 billion cost-cutting plan the drugmaker announced late on Friday alongside its new COVID sales outlook. Moderna, in a statement on Monday, maintained its current revenue forecast of $6 billion to $8 billion for its COVID vaccine for 2023. Jefferies analyst Michael Yee said Pfizer's new COVID outlook implies lower vaccine sales for Moderna than it had forecast.

Persons: Dado, BioNTech, Albert Bourla, Bourla, Mani Foroohar, Foroohar, Jefferies, Michael Yee, Ludwig Burger, Rachel More, Michael Erman, Bhanvi Satija, Manas, Jonathan Oatis, Caroline Humer, Bill Berkrot Organizations: COVID, Institute for Health, Food, REUTERS, Pfizer, Moderna, Manas Mishra, Thomson Locations: Zenica, Bosnia, Herzegovina, Frankfurt, Novavax, U.S, New York, Bengaluru

☆ Stocks making the biggest moves midday: Lululemon, Pfizer, News Corp, Charles Schwab and more
▼ + stars: | 2023-10-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Pfizer — Shares rallied 3.61% following an upgrade by Jeffries to buy from hold. The firm sees an attractive buying opportunity after Pfizer cut its full-year guidance last week on slumping vaccine sales. Alignment Healthcare — Shares soared 17.22% after being upgraded to strong buy from outperform by Raymond James. Tal Education — The education technology stock popped 6.73% after UBS upgraded shares to a buy rating, citing an attractive valuation and tailwinds from Tal Education's nonacademic tutoring business. Greenbrier — Shares of the transportation services company gained 3.81% Monday morning after Susquehanna upgraded the stock to a positive rating.

Persons: Dow, Lululemon, Jeffries, Novavax, Raymond James, Morgan Stanley, Jim Ratcliffe, Sheikh Jassim bin Hamad al Thani, Glazer, Tal Education's, Charles Schwab —, Schwab, Albemarle —, Albemarle, Bascome, Henry Schein —, Yun Li, Fred Imbert, Hakyung Kim, Samantha Subin, Alex Harring, Pia Singh, Lisa Han Organizations: Dow Jones Indices, Activision, Microsoft, Pfizer —, Pfizer, Moderna, News Corp, Reuters, Street, Street Journal, Systems, Manchester United, Tal Education, UBS, Liontown, Greenbrier —, Susquehanna Locations: BioNTech, Greenbrier

☆ Stocks making the biggest moves premarket: Pfizer, Lululemon, Manchester United, Rite Aid and more
▼ + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Pfizer , Moderna , BioNTech — Shares of Pfizer dropped 1.3% after the company slashed its full-year revenue guidance by $9 billion, noting waning demand for its Covid treatment and vaccine. Following the guidance cut, Jefferies upgraded Pfizer on Monday, citing an attractive buying opportunity. Vaccine markers Moderna and BioNTech also dropped premarket, losing 4.1% and 5%, respectively. Colgate-Palmolive — The consumer products stock gained more than 1% in premarket trading after Stifel upgraded Colgate-Palmolive to buy from hold. The firm cited the stock's attractive valuation and the rapid and profitable growth of TAL's non-academic tutoring business as catalysts.

Persons: Jefferies, BioNTech, premarket, Morgan Stanley, Jim Ratcliffe, Jeffrey Stein, Dow, Charles Schwab, CNBC's Hakyung Kim, Jesse Pound, Tanaya Macheel, Michelle Fox Theobald, Lisa Han Organizations: Pfizer, Moderna, BioNTech, Colgate, Palmolive, Manchester United, Wall Street, . Rite, Dow Jones, Activision, Microsoft, TAL Education Group, UBS Locations: New Jersey

☆ Moderna reaffirms annual COVID vaccine sales forecast
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: 1 min

Syringes with needles are seen in front of a displayed Moderna logo in this illustration taken, November 27, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Moderna Inc FollowPfizer Inc FollowOct 16 (Reuters) - Moderna (MRNA.O) on Monday reaffirmed its forecast of $6 billion to $8 billion in COVID vaccine sales for the year, after rival Pfizer (PFE.N) slashed forecast for its vaccine last week. Moderna said it will have "improved visibility" about the expected U.S. market size for vaccines after observing trends through October 2023. Shares of Moderna were down about 4% in premarket trading. Reporting by Bhanvi Satija in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Bhanvi, Shilpi Majumdar Organizations: REUTERS, Moderna Inc, Pfizer, Moderna, Thomson Locations: Bengaluru

☆ Over 7 million Americans have gotten updated COVID vaccines
▼ + stars: | 2023-10-12 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

Millions of doses of another updated COVID vaccine from Novavax (NVAX.O) have also been made available to Americans this week, according to the company. Last year's booster targeting the original virus and another variant was rolled out about 10 days earlier. By Sept. 28, 2022, almost 7.6 million Americans had received the updated shots. U.S. public health officials have been optimistic that Americans will get the new vaccines and have recommended that everyone ages 6 months and older receive one. About 17% of the U.S. population, or 56.5 million people, ultimately received last year's version of the vaccines.

Persons: Emily Elconin, Patrick Wingrove, Bill Berkrot Organizations: REUTERS, U.S . Department of Health, Human Services, Pfizer, Moderna, U.S . Centers, Disease Control, Thomson Locations: Waterford , Michigan, U.S, Moderna, Novavax

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