Moderna Down on Wall Street, WeightWatchers Skyrockets
American biotechnology company Moderna fell 3.6 percent on Tuesday’s Wall Street opening after a setback with its experimental flu shot. A new study has not yet been able to demonstrate the effectiveness of the jab sufficiently.
Moderna has earned billions in recent years with its corona vaccines, but demand for this product has declined sharply recently. Therefore, introducing the flu shot is crucial for the company’s future.
WW International shot up no less than 41 percent. According to investment bank Goldman Sachs, the diet company, better known as WeightWatchers, can triple in value.
Investors were also cautious ahead of US inflation data on Wednesday. They will also receive the final minutes of the Federal Reserve meeting. Shortly after opening, the Dow Jones index was 0.2 percent higher at 33,645 points. The broader S&P 500 was a fraction higher at 12,089 points, and the technology indicator Nasdaq (12,080 points) also hardly moved.
Car dealership CarMax opened the books over the past quarter and gained almost 7 percent. The company reported earnings that far exceeded market analysts’ expectations.
Gold mining company Newmont lost 1.8 percent. The company has raised its takeover bid for Australian industry peer Newcrest Mining to $19.5 billion. That is 16 percent higher than the original offer. If the deal goes through, it would further secure Newmont’s position as the world’s largest gold producer.
The American white goods manufacturer Whirlpool was set 3 percent higher. Goldman Sachs has issued a buy rating for the company and expects the stock to rise more than 20 percent.
Online lender LendingClub (plus 7.2 percent) also benefited from a favourable analyst report. According to JPMorgan, the recent drop in the share price has been exaggerated due to concerns about the financial system.