Trading Ideas
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Trading Ideas
Trading Ideas
Moderna Vaccine ‘Hits the Mark’ as Street Sees a Blockbuster
(Bloomberg) — Moderna Inc. got a new Wall Street-high price target from Goldman Sachs as its shares traded at a record after the biotech company revealed positive early results from its experimental vaccine for Covid-19.An initial look at mRNA-1273, as the inoculation is known, “hits the mark,” analyst Salveen Richter said, raising her price target to $105 from $63, or 27% above the prior Street high of $83. Richter rates Moderna a buy. Piper Sandler analysts soon followed raising their price target to $102 from $57 saying Moderna could have “potential blockbuster vaccine sales next year.”The Nasdaq Biotechnology Index rose …read more […]
Business News
Uber to focus on core rides, delivery business as cuts more jobs
Uber Technologies Inc will concentrate on its core businesses in ride-hailing and food delivery, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday, announcing the company’s second round of job cuts during the coronavirus pandemic.
Business News
J.C. Penney to permanently shut about 242 stores as part of bankruptcy plan
J.C. Penney Co Inc plans to trim its store count by 29% to about 604, as the U.S. department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection.
Trading Ideas
Moderna coronavirus vaccine shows promising results in early stage
In an early stage clinical trial, Moderna’s COVID-19 vaccine produced antibodies that will help ‘neutralize’ coronavirus in patients. Moderna CEO Stéphane Bances joins Yahoo Finance’s On the Move to discuss. …read more […]
Trading Ideas
Uber cuts 3,000 more jobs, shuts 45 offices over coronavirus pandemic: WSJ
Uber cut 3,000 more jobs and shut down 45 offices amid the coronavirus outbreak. Yahoo Finance’s Adam Shapiro breaks down the latest developments. …read more […]
Business News
Walmart trailed supermarkets amid peak panic-buying: data
Americans increased their visits to supermarkets far more than to Walmart Inc stores as panic-buying peaked in mid-March, a Reuters analysis of foot traffic to retailers in the United States shows.
Trading Ideas
Harvard’s Reinhart and Rogoff Say This Time Really Is Different
(Bloomberg Markets) — When Carmen Reinhart and Kenneth Rogoff published their heavyweight history of financial crises in late 2009, the title was ironic. This Time Is Different: Eight Centuries of Financial Folly reminded readers that the catastrophic 2008-09 credit crisis was far from unique. The authors became the go-to experts on the history of government defaults, recessions, bank runs, currency sell-offs, and inflationary spikes. Everything seemed to be part of a predictable pattern.And yet a little more than a decade later, we’re experiencing what appears to be a one-of-a-kind crisis. The Covid-19 pandemic has catapulted the world into its deepest …read more […]
Business News
Oil futures on track for two-month highs as lockdowns ease
Oil prices jumped on Monday, with both U.S. and Brent benchmarks on track for their highest settles in two months, supported by optimism about resumption in economic activity and steady output cuts from major producers.
Business News
Wall Street soars on hopes of stimulus, coronavirus vaccine
Wall Street’s main indexes surged on Monday as encouraging early data from a potential coronavirus vaccine trial boosted sentiment, with investors also counting on more stimulus to rescue the U.S. economy from a deep slowdown.
Trading Ideas
Google will likely be charged with antitrust lawsuits from DOJ
The Department of Justice is expected to file an antitrust lawsuit against Google for its digital advertising violations. Syracuse University College of Law Director Shubha Ghosh joins Yahoo Finance’s On The Move panel to discuss. …read more […]
Business News
Uber to lay off 3,000 workers in second cut this month
Uber Technologies Inc will cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services, Chief Executive Officer Dara Khosrowshahi said in an email to employees on Monday.
Business News
Amazon’s French warehouses to resume work with 30% of staff on Tuesday: unions
Amazon’s French warehouses are set to re-open on Tuesday with about 30% of employees, three union officials said, following an agreement with staff representatives last week.
Trading Ideas
Moderna Spikes 21% Amid “Positive” Early-Stage Covid-19 Vaccine Data
Shares in Moderna Inc. (MRNA) shot up 21% after the biotech company reported “positive” interim clinical data for its experimental coronavirus vaccine.The stock soared 21% to $80.47 in early morning U.S. trading. The clinical stage biotech company said that the Phase 1 study of its novel coronavirus vaccine candidate (mRNA-1273) produced antibodies that would be able to “neutralize” the virus in patients. In addition, different doses of the vaccine given to patients resulted in an increase in immunogenicity, while also triggering an immune response in the body.“These interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an …read more […]