Last Tuesday, biotech company Moderna and the National Institute of Allergy and Infectious Diseases began testing COVID-19 vaccines on children. This covers kids between 6 months to 11 years in the US and Canada. The study is part of efforts to widen the coverage of Moderna’s mass-vaccination campaign against coronavirus.
News For The Day: Dow, S&P Stocks Pull Back, Nasdaq Barely Gains
5 Stocks to Watch Out For Wednesday, March 17
Moderna Inc ▲(MRNA 156.02 USD +12.36 (8.60%)) shares rose up as the biotech firm started phase 1 trials of mRNA-1283, a refrigerator-stable version of its successful COVID-19 vaccine. A successful trial means the world will get access to vaccines that can be transported and stored without the need for cold storage systems. A successful mRNA-1283 means Moderna can now tap even bigger markets.
Crowdstrike Holdings Inc ▲(CRWD After hours 207.50 USD +11.19 (5.70%)) shares endured a down day in trading but gained 5.7% after hours Tuesday. The cybersecurity company reported better-than-expected results for the fourth quarter, with earnings per share at 13 cents on revenue of $264.9 million. This is a significant upgrade over analyst expectations of 8 cents EPS on $250.4 million revenue.
Micron Technology, Inc. ▲(MU 91.43 USD +2.58 (2.90%)) shares gained almost 6% before settling to a more moderate 2.9% increase during yesterday’s trading. The gain came at the heels of UBS as they raised their price target on the stock to $120 per share, as they foresee increased demand and pricing in NAND flash memory. Instead of the earlier predictions of falling prices, the UBS report is now seeing bigger demand and rising prices for the same period.
Starbucks Corporation ▲(SBUX 111.34 USD +2.44 (2.24%)) shares got a mild upgrade of around 2.24% as BTIG upgraded its outlook from “Neutral” to Buy.” The assessment was based on increased movement in reopening across America. Plus, Starbucks expects that some of the flood of cash from stimulus money will make its way to their doors. BTIG maintained its $130 price target.
Facebook, Inc. Common Stock ▲(FB 279.28 USD +5.53 (2.02%)) gained 2% in what appears to be a pullback from recent market gains. While Facebook lost less than a percent last month, it fared better than most companies in the computer and technology sector, which suffered an average 6.78% loss. Ahead of its next earnings release, investors are hoping for earnings of at least $2.36 per share and revenue of $23.66 billion.
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