Stock Alert: Moderna Touches New 52-week High
Shares of COVID-19 vaccine maker Moderna Inc. (MRNA) are gaining more than 16 percent or $25.61 in Friday’s morning trade at $185.16, after hitting a new 52-week high of $185.98 despite no company-centric news.
However, Johnson & Johnson (JNJ) announced topline efficacy and safety data from the Phase 3 ENSEMBLE clinical trial for its investigational single-dose COVID-19 vaccine in development at its Janssen Pharmaceutical Companies. The company said its vaccine candidate was 72 percent effective in the U.S. and 66 percent effective overall at preventing moderate to severe COVID-19, 28 days after vaccination.
The vaccine candidate was also 85 percent effective in preventing severe disease across all regions studied, 28 days after vaccination. In comparison, Moderna’s vaccine was found to be 94.1 percent effective at preventing symptomatic COVID-19.
Moderna has traded in a range of $17.91 to $185.98 in the past 52 weeks.
Washington Post Editorial Rips Republicans ‘Crawling Back’ To Donald Trump
A Washington Post editorial on Friday rebuked senior Republicans who have gone “crawling back” to Donald Trump after condemning the former president for inciting the U.S. Capitol riot.
“For a moment, it seemed as if the Republican Party might exorcise” Trump for encouraging the violent Jan. 6 insurrection that left five people dead, the newspaper editorial board wrote.
But it noted the now-softened tone toward Trump by House Minority Leader Kevin McCarthy (R-Calif.) and Senate Minority Leader Mitch McConnell (R-Ky.), and suggested “the era of glasnost seems to be ending.”
“The big lie of election fraud lives on,” the editorial said. “It is a sad turn for a once great party.”
“They had a chance, after Jan. 6, to reject their narrowing future as a party of lies and voter suppression and try, once again, to widen their appeal by standing for something positive,” the board concluded. “What a shame to throw that chance away.”
Read The Washington Post editorial here.
Stock Alert: PLDT Climbs To New 52-week High
Shares of PLDT Inc. (PHI), a telecommunications company in the Philippines, are rising almost 10 percent or $2.77 in Friday’s morning trade at $31.36, after hitting a new 52-week high of $35.49 despite no company-centric news.
U.S. stocks are lower on Friday amid concerns about recent market volatility and following news that Johnson & Johnson’s one-dose coronavirus vaccine appeared to be less potent against variants. Johnson & Johnson said its vaccine candidate was 72 percent effective in the U.S. and 66 percent effective overall at preventing moderate to severe COVID-19, 28 days after vaccination.
Earlier in January, PLDT said that based on the results of more than 120 million tests taken with Speedtest in the Philippines in 2020, average mobile speeds increased by 62 percent and fixed broadband speeds increased by 86 percent between 2017 and 2020. The company noted that the improvements in speed came as it increased its investment in networks.
PLDT has traded in a range of $15.91 to $35.49 in the past 52 weeks.
Watch live: White House coronavirus task force gives an update on pandemic response
White House coronavirus task force gives an update on pandemic response.
Stock Alert: Western Digital Shares Up 11%
Shares of Western Digital Corp. (WDC) are rising over 11% Friday morning, after the company reported a turnaround to profit for the second quarter. The stock has been trading in the range of $27.40 – $71.30 for the past one year, and is currently trading at $58.96, up $6.31 or 11.98%, with trading volume of over 3.58 million versus an average volume of 4.65 million shares.
The company’s Q2 GAAP net income was $62 million or $0.20 per share compared to a loss of $139 million or $0.47 per share last year.
On a non-GAAP basis, net income rose to $212 million or $0.69 per share from $187 million or $0.62 per share in the prior year period.
Revenue for the quarter declined 7% to $3.94 billion from the previous year’s revenue of $4.23 billion, reflecting a decline in the company’s Data Center Devices & Solutions end market, more than offsetting growth in Client Devices and Client Solutions.
Looking ahead, the company expects third-quarter non-GAAP earnings in the range of $0.55 – $0.75 per share on revenue of $3.85 billion – $4.05 billion. Twenty-six Wall Street analysts have a consensus earnings estimate of $0.63 per share on revenue of $3.87 billion for the quarter.
What It’s Like to Give the Covid Vaccine
By Julia Rothman and Shaina Feinberg
Julia Rothman is an illustrator. Shaina Feinberg is a writer and filmmaker. Both live in Brooklyn.
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Citron Halts 20 Years of Short-Sell Analysis After GameStop Woes
Citron Research said it will discontinue offering short-sell analysis after 20 years of providing the service.
“We will focus on giving long side multibagger opportunities for individual investors,” the firm said Friday in a tweet.
Citron made the decision after battling with day traders over GameStop Corp. Earlier this month it suspended a scheduled live stream aimed at explaining its position on the company due to “too many people hacking Citron twitter.”
Citron managing partner Andrew Left told Bloomberg at the time he was informed by Twitter that someone was trying to change his password. Twitter said it locked Citron’s account as a precaution and worked with the account owner to get it reinstated.
Following the attempted live stream, Left eventually posted a YouTube video where he explained his five reasons why GameStop is going to $20, maintaining the call on the company first made Jan. 19.
“I’ve never seen such an exchange of ideas of people so angry about someone joining the other side of a trade,” Left said in the video.
The stock has since surged, along with other heavily-shorted equitieis, as retail investors have piled in. That’s inflicted damage at some of the world’s most prominent hedge funds.