Moderna stock plunges as guidance cut on low EU sales, U.S. vaccine competition

Moderna (MRNA) PT Lowered to $120 at Jefferies

August 1, 2024 3:59 PM EDT

Jefferies analyst Michael Yee lowered the price target on Moderna (NASDAQ: MRNA) to $120.00 (from $180.00) while maintaining a Buy rating.

The analyst comments "Despite confidence YTD, MRNA lowered 2024 guidance by $500M-$1B driven by lower Covid (pricing), APA deferrals + RSV will be small... More

Midday movers: Meta Platforms, Lilly rise; Arm, Moderna fall

August 1, 2024 8:07 AM EDT

(Updated - August 1, 2024 11:44 AM EDT)

Investing.com -- U.S. stock futures declined Thursday after a measure of U.S. manufacturing activity dropped to an eight month low.

Here are some of the biggest U.S. stock movers today:

Meta Platforms (NASDAQ: META) stock fell 6.3% after the Facebook-parent reported stronger-than-expected second-quarter earnings and also presented a robust outlook.

Arm Holdings... More

Moderna (MRNA) Tops Q2 EPS by 2c; cuts revenue guidance

August 1, 2024 6:35 AM EDT

Moderna (NASDAQ: MRNA) reported Q2 EPS of ($3.33), $0.02 better than the analyst estimate of ($3.35). Revenue for the quarter came in at $241 million versus the consensus estimate of $128.41 million.

GUIDANCE:

Moderna sees FY2024 revenue of $3-3.5 billion, versus the consensus of $3.83... More

Moderna cuts 2024 sales forecast, sees low EU vaccine revenue into 2026

August 1, 2024 6:32 AM EDT

By Patrick Wingrove and Leroy Leo

(Reuters) -Moderna on Thursday cut its 2024 sales forecast for COVID-19 and respiratory syncytial virus vaccines by up to 25%, or $1 billion, due partly to low COVID sales to the EU that it expects to continue into 2026.

The vaccine maker's shares plunged more than 15% to $101.01, taking the company's market value to $38.71 billion. It had peaked at nearly $200 billion at the height of the COVID pandemic in August 2021.

Moderna said the full-year forecast cut was also due to potential revenue deferrals for some international COVID sales into 2025 and an increasingly competitive environment... More

At least 3 killed in Nigeria at protests over high cost of living

August 1, 2024 6:30 AM EDT

By Ope Adetayo and Bosan Yakusak

ABUJA/KADUNA (Reuters) -At least three protesters were killed in Nigeria's Kaduna state on Thursday, Reuters reporters and eyewitnesses said, as demonstrators rallied across the West African nation against rising cost of living and governance issues.

Kaduna state police spokesperson Mansur Hassan said the police fired tear gas at protesters and not live ammunition. Also police fired tear gas in the capital city Abuja to disperse crowds of protesters, according to eyewitness accounts.

Protesters demonstrated in Abuja, the commercial capital Lagos and several other cities to show discontent with... More

Fed guidance, BOE, Meta's results, Apple - what's moving markets

August 1, 2024 5:47 AM EDT

Investing.com -- The Federal Reserve kept rates unchanged but signaled the possibility of a cut next month. The Bank of England has that decision to make later in the session. Meta Platforms impressed with its quarterly earnings, and Apple is next up after the close. 

1. Fed lifts September rate cut confidence

The U.S. Federal Reserve left interest rates unchanged at the conclusion of its latest policy-setting meeting on Wednesday, as widely expected, but acknowledged recent progress on inflation, raising investor hopes that the central bank... More

Stocks expected to have increasing option volume: MRNA HSY RBLX K LH WEN SHAK RDDT

August 1, 2024 5:34 AM EDT

Stocks expected to have increasing option volume: MRNA HSY RBLX K LH WEN SHAK RDDT

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Moderna (MRNA) August weekly option IV elevated into quarter results

July 31, 2024 11:15 AM EDT

Moderna (NASDAQ: MRNA) August weekly call option implied volatility is at 131, August is at 69; compared to its 52-week range of 40 to 66 into expected release of quarter results before the bell on August 1.

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Moderna (MRNA) August 2 weekly 120 straddle priced into quarter results

July 31, 2024 5:01 AM EDT

Moderna (NASDAQ: MRNA) August 2 weekly 120 straddle priced for a move of 8% into expected release of quarter results before the bell on August 1.

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