Tag Archives: Novavax Inc

FDA authorizes emergency use for Novavax Covid-19 vaccine for ages 12 to 17

A box of the Novavax Covid-19 vaccine arranged at a pharmacy in Schwenksville, Pennsylvania, US, on Monday, Aug. 1, 2022.

Bloomberg | Bloomberg | Getty Images

Biotechnology company Novavax announced on Friday that its Covid-19 vaccine has been authorized for emergency use by the U.S Food and Drug Administration for adolescents between the ages of 12 and 17.

In July, Novavax’s two-dose Covid-19 vaccine for adults ages 18 and over got its emergency approval from the FDA.

Having more vaccine options for adults and children will “hopefully help increase vaccination rates, particularly as we prepare for ongoing surges of Covid-19 with the start of fall and the back-to-school season,” Stanley C. Erck, president and CEO of Novavax, said in a statement.

Novavax was one of the original participants in the U.S. government’s race to develop a Covid vaccine in 2020, receiving $1.8 billion in taxpayer funding from Operation Warp Speed. However, the small Maryland biotech company struggled to quickly get manufacturing in place and its clinical trial data read out much later than rivals Pfizer or Moderna.

Dr. Peter Marks, a senior FDA official, has said that Novavax’s vaccine would potentially appeal to unvaccinated people who would prefer a shot that is not based on the messenger RNA technology used by Pfizer and Moderna.

How Novavax is different

The Novavax shot is based on more conventional protein technology used for decades in hepatitis B and HPV vaccines, while Pfizer and Moderna are the first FDA-approved vaccines to use mRNA.

Pfizer and Moderna’s vaccines use mRNA, a molecule encoded with genetic instructions, to tell human cells to produce copies of a virus particle called the spike protein. The immune system responds to these copies of the spike, which prepares the human body to attack the actual virus.

Novavax makes copies of the virus spike outside human cells. The genetic code for the spike is put into an insect virus that infects moth cells, which produce copies that are then purified and extracted during the manufacturing process. The finished spike copies are injected into the human body, inducing an immune response against Covid.

The Novavax vaccine also uses an additional ingredient called an adjuvant, which is extracted and purified from the bark of a tree in South America, to induce a broader immune response. The shots consist of 5 micrograms of the spike copy and 50 micrograms of the adjuvant.

Effectiveness and safety

Two doses of the Novavax vaccine were 90% effective at preventing illness from Covid across the board and 100% effective at preventing severe illness, according to clinical trial data from the U.S. and Mexico. However, the trial was conducted from December 2020 through September 2021, months before the omicron variant became dominant.

Novavax did not present any data on the shot’s effectiveness against the variant at the FDA committee meeting in June. However, the vaccine will likely have lower effectiveness against omicron as is the case with Pfizer and Moderna’s shots. Omicron is so distinct from the original strain of Covid that the antibodies produced by the vaccines have trouble recognizing and attacking the variant.

Novavax published data in December showing that a third shot boosted the immune response to levels comparable to the first two doses which had 90% effectiveness against illness. The company plans to ask the FDA to authorize a third dose of its vaccine.

FDA authorization of Novavax’s vaccines comes as the U.S. is preparing to update Covid shots to target the omicron BA.4 and BA.5 variants to increase protection against the virus. Novavax’s vaccine, like all the other shots, is based on the original version of the virus that first emerged in Wuhan, China. The effectiveness of Covid vaccines against mild illness has slipped substantially as the virus has evolved, though they still generally protect against severe disease.

Novavax presented data at an FDA committee meeting in late June demonstrating that a third dose of its vaccine produced a strong immune response against omicron and its subvariants. Committee members were impressed by the company’s data on omicron.

The Novavax vaccine also appears to carry a risk of heart inflammation for younger men, known as myocarditis and pericarditis, similar to Pfizer and Moderna’s shots. Myocarditis is an inflammation of the heart muscle and pericarditis is inflammation of the outer lining of the heart.

FDA officials flagged four cases of myocarditis and pericarditis from Novavax’s clinical trial in young men ages 16 to 28. People who develop heart inflammation as a side effect of Covid vaccines are usually hospitalized for several days as a precaution but then recover.

The FDA has issued a fact sheet for health-care providers warning that clinical trial data indicates there is an increased risk of myocarditis with the Novavax vaccine. People who experience chest pain, shortness of breath and feelings of a fluttering or pounding heart should immediately seek medical attention, according to the FDA.

In the case of the mRNA shots, the CDC has found that the risk of myocarditis is higher from Covid infection than vaccination. Myocarditis is usually caused by viral infections.

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Stock futures flat as investors brace for July inflation report  

Stock futures were little changed early on Wednesday as investors looked ahead to a key inflation report set to be released Wednesday.

Dow Jones Industrial Average futures were flat. S&P 500 and Nasdaq 100 futures were fractionally lower.

The moves come after the S&P 500 and Nasdaq fell for a third straight day on Tuesday. The Nasdaq Composite led the declines, falling 1.19% after Micron, Novavax and Upstart warned that future earnings and revenue may come in lower than previously thought. The S&P 500 fell 0.42%, and the Dow Jones Industrial Average shed 0.18%.

Inflation report looms

Investors are awaiting the latest consumer price index report, which could confirm or dash hopes that rising prices have leveled off. Economists expect the report to show that inflation has cooled slightly, led by slipping oil prices.

“In terms of reactions, the market will initially get more excited by a downside core CPI surprise than an upside surprise, especially as it relates to risk appetite,” Alan Ruskin of Deutsche Bank wrote in a Tuesday note. “A downside surprise plays to ‘hopes’ that an oil/food commodities peak, plus slower demand, will filter quickly into US inflation data.”

The Federal Reserve will weigh the report, along with other key economic data, ahead of its September meeting where it is slated to hike interest rates again.

Earnings season also continues, with Disney’s quarterly results due after the bell Wednesday.

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Novavax, GoodRx, Allbirds and more

Take a look at some of the biggest movers in the premarket:

Novavax (NVAX) – The drugmaker’s stock plummeted 32.3% in the premarket after posting an unexpected quarterly loss and cutting its full-year revenue guidance in half. Novavax said it did not expect any further U.S. sales of its Covid-19 vaccine this year amid soft demand and a supply glut.

GoodRx (GDRX) – GoodRx soared 39.6% in premarket trading after the provider of prescription drug comparison software reported better-than-expected quarterly results, and also said an issue with a major grocery chain had been resolved.

Allbirds (BIRD) – The sneaker maker’s shares dived 11.8% in the premarket after it cut its full-year forecast, with the company saying external headwinds could pressure consumer spending in the back half of 2022.

Micron Technology (MU) – The chip maker said it expected negative free cash flow for the current quarter, as well as declines in revenue and profit margins. Chip shipments are falling due to weakening demand from PC and video game companies. Micron lost 3.7% in premarket action.

Take-Two Interactive (TTWO) – Take-Two fell 3.4% in the premarket after the video game publisher issued a weaker-than-expected revenue forecast. Take-Two is the latest company to see its results impacted by a general slowdown in gaming following a pandemic-era boom.

Occidental Petroleum (OXY) – The energy producer’s stock added 2.3% in the premarket following news that Berkshire Hathaway (BRK.B) had increased its stake in Occidental to more than 20%. That means that Berkshire can record part of Occidental’s profits as its own.

Signet Jewelers (SIG) – The jewelry retailer announced a deal to buy online jewelry seller Blue Nile for $360 million in cash. Signet shares added 2% in the premarket.

Upstart (UPST) – Upstart stock tumbled 12.2% in premarket trading after the cloud-based lending platform company missed Wall Street’s estimates on both the top and bottom lines for its latest quarter. It also issued a weaker-than-expected revenue forecast, saying that banking partners have turned more cautious due to the uncertain economy.

CarGurus (CARG), Vroom (VRM) – Both online used car sellers saw their stocks plunge in premarket action after reporting weaker-than-expected quarterly results. CarGurus sank 14.9% while Vroom slid 11.4%.

SoFi (SOFI) – The online financial services company’s stock fell 3.4% in premarket trading after Japan’s SoftBank said it would some or all of its 9% stake in SoFi.

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Stocks making biggest after hour moves: Novavax, Allbirds and more

A woman holds a small bottle labeled with a “Coronavirus COVID-19 Vaccine” sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020.

Dado Ruvic | Reuters

Check out the companies making headlines after hours.

Novavax — The biotech stock dropped 32% after Novavax cut its full-year revenue guidance due to poor demand for its Covid vaccines.

Take-Two Interactive Software — Shares dropped 6% after the video game company behind titles such as Grand Theft Auto reported weaker-than-expected earnings. Take-Two reported $1 billion in revenue, less than the $1.09 billion projected by analysts surveyed by Refinitiv.

Upstart — Shares fell 7% after the consumer lending company posted disappointing second quarter results. Upstart earned 1 cent per share on revenue of $228.2 million. Analysts surveyed by Refinitiv were estimating earnings of 10 cents per share on revenue of $241.6 million.

Allbirds — The footwear stock dropped 12% after Allbirds cut its outlook for the year and announced cost-cutting efforts, citing weaker consumer spending. The footwear and apparel company otherwise beat expectations in its second-quarter results, compared with consensus estimates from Refinitiv.

Hims & Hers Health — Shares gained more than 4% after the telehealth company reported quarterly results and raised its full year outlook, citing continued momentum in the number of net new subscriptions.

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Why new Novavax Covid vaccine won’t win over unvaccinated Americans

Unvaccinated Americans will soon be able to opt for a new kind of shot to protect themselves from the ever-evolving Covid-19 virus: the Novavax vaccine.

The latecomer Covid shot has raised hopes of wider acceptance among vaccine skeptics. It uses traditional protein-based technology, unlike its mRNA counterparts. But experts say it still may not convince a large number of unwilling holdouts to roll up their sleeves and get vaccinated.

“I don’t think a shot like Novavax with well-worn technology is suddenly going to convince unvaccinated people to say, ‘Now, I want to get a vaccine, now I believe a vaccine will keep me out of the hospital and ICU,'” Dr. Paul Offit, the director of the Vaccine Education Center at Children’s Hospital of Philadelphia and member of an independent advisory group to the U.S. Food and Drug Administration, tells CNBC Make It. 

On Wednesday, the FDA authorized the Novavax shot for adults ages 18 and up. Once approved by the Centers for Disease Control and Prevention, it’ll only be available as a two-dose primary series, rather than a booster — which means only unvaccinated Americans will be able to receive it.

According to CDC data from early June, roughly 27 million U.S. adults still haven’t received a single Covid shot, posing a significant obstacle for American efforts to finally force Covid into a manageable, endemic phase. The U.S. is already grappling with yet another surge in Covid cases — this time, driven by highly transmissible omicron subvariants like BA.5 — and unless the country’s vaccination rate improves, a more severe variant of concern may soon emerge.

Here’s how Novavax’s Covid vaccine could help, and why many unvaccinated people might still pass on it.

The new vaccine’s appeal to people afraid of mRNA tech

The Novavax shot is the fourth Covid shot to earn FDA clearance in the U.S. and the first to use protein technology — a decades-old method of virus-fighting used in multiple routine vaccinations, like those against hepatitis B and shingles.

It’s highly effective, according to clinical data: Two doses were 90% effective at preventing illness from Covid when tested in a study involving about 30,000 adults ages 18 and older, according to the FDA. Notably, the research was conducted from December 2020 through September 2021, a few months before the emergence of Covid’s omicron variant.

Novavax’s shot works differently than its mRNA counterparts, but achieves the same outcome: teaching your body how to fight Covid. It injects copies of the spike protein — a molecule found on the coronavirus — and an ingredient called adjuvant into your body’s cells, which induces an immune response to the virus.

“Novavax essentially uses the same approach as mRNA vaccines, but they make the protein in a factory. So they’re giving you the protein itself, rather than instructions for your cells to make a protein,” says Dr. Robert Schooley, an infectious disease specialist at UC San Diego Health.

Guy Palmer, a professor of pathology and infectious diseases at Washington State University, says the Novavax vaccine could potentially appeal to Americans who falsely believe that mRNA vaccines are unsafe, due to the technology’s perceived newness and a misconception that they could alter human DNA.

“There’s a slight open door there for a non-mRNA vaccine like Novavax,” Palmer says.

Vaccine denialism is a cultural issue 

Unvaccinated Americans may perceive protein-based shots as safer than mRNA ones: In a Morning Consult poll last week, about 28% of unvaccinated people surveyed said they viewed protein-based shots as safe, while only 17% said the same about mRNA vaccines.

But 77% still said they wouldn’t get a protein-based Covid shot if it were authorized in the U.S.

Offit points to a larger problem at hand: Vaccine denialism has become a cultural issue, no matter the technology behind the shots. He says many unvaccinated Americans, especially those who are politically right-leaning, are now fueled by hardwired ideas like government distrust.

In a Kaiser Family Foundation poll released in May, only 14% of Republicans surveyed said they had a “great deal or fair amount of trust” in President Joe Biden to provide reliable information about Covid vaccines. The poll also notes that Republicans are among those with the lowest vaccination rates, at just 55%.

Even today’s most common anti-vaccination argument — that the vaccines are pointless, because they can’t always prevent breakthrough infections — may be a cover for those types of hardwired ideas. (No vaccine is ever 100% effective, and staying up-to-date on your Covid vaccines can significantly lower your chances of severe illness, hospitalization or death.)

“Some say they don’t want an mRNA vaccine, so this protein vaccine can be an alternative. But other people might say I just don’t like vaccines, period. Or I don’t trust the FDA or the government,” Schooley says. “Providing rational explanations and alternatives like Novavax that address some concerns doesn’t necessarily get you past the fact that there’s just an aversion to being vaccinated.”

The Novavax vaccine is still good news

The shot’s entrance into the U.S. market could still be good news, says Dr. Dean Blumberg, chief of the division of pediatric infectious diseases at UC Davis Health.

Another source of vaccine supply is “always good to have” in case other companies have manufacturing difficulties, Blumberg says. It can ensure that an event similar to the recent baby formula shortage won’t happen with Covid vaccines, he adds. 

Blumberg also emphasizes that any progress in getting holdouts vaccinated should be celebrated. 

“I’m not sure how many of the remaining unvaccinated people in the U.S. are going to be interested in getting this Novavax vaccine — but it’s one more tool in the toolbox,” he says. “Even if just a few people take advantage of getting vaccinated with it, that’s great.”

Offit says Novavax may have a larger impact down the road: Its omicron-specific booster shots may be ready for federal approval this fall or winter, and pre-clinical data shows they could potentially provide enhanced immunity against omicron and its subvariants.

“You have a certain part of the population that is clearly interested in getting as many doses as possible,” Offit says, adding that people could view a Novavax booster as “an advantage” over a shot that’s the same as their previous doses.

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Target, J.M Smucker and more

Take a look at some of the biggest movers in the premarket:

Target (TGT) – Target announced a series of moves to “right-size” its inventory levels, including additional markdowns and canceling orders. It cut its operating margin guidance for the current quarter to 2% from the prior 5.3% but said the margin would recover to about 6% in the back half of the year. Target slumped 7.9% in the premarket.

J.M. Smucker (SJM) – The food producer’s shares slid 3.5% in premarket trading despite better-than-expected quarterly results. Smucker said inflation, supply chain issues and other factors continue to impact results and increase uncertainty. It also said full-year profit would be negatively impacted by a recall of its Jif peanut butter product.

Kohl’s (KSS) – Kohl’s surged 11.2% in premarket trading after saying it was in advanced takeover talks with retail holding company Franchise Group (FRG), the parent of Vitamin Shoppe and other retail brands. The deal could value Kohl’s at about $8 billion. Franchise Group added 2.7%.

United Natural Foods (UNFI) – The food distributor’s shares jumped 5.8% in the premarket after it reported better-than-expected quarterly profit and revenue. United Natural sales were boosted by increased business from new and existing customers as well as inflation, and it raised its full-year forecast.

G-III Apparel (GIII) – The apparel and accessories company earned 72 cents per share for its latest quarter, 14 cents a share above estimates. Revenue came in well above Street forecasts. G-III also issued an upbeat outlook and its shares rose 2.3% in premarket action.

BuzzFeed (BZFD) – BuzzFeed rebounded 4.9% in the premarket, not nearly enough to make up for Monday’s 41% slide. The plunge in the digital media company’s stock came following the expiration of BuzzFeed’s post-IPO lockup period.

GitLab (GTLB) – Gitlab rallied 9.3% in premarket action after the software platform developer reported better-than-expected quarterly results and raised its earnings outlook.

Peloton (PTON) – Peloton announced the departure of Chief Financial Officer Jill Woodworth after four years with the fitness equipment maker. She’ll be replaced by former Amazon and Netflix executive Liz Coddington, effective June 13. Peloton added 1.6% in the premarket.

Novavax (NVAX) – A Food and Drug Administration panel will convene today to consider the drugmaker’s approval application for its Covid-19 vaccine. Novavax shares rose 3.8% in premarket action.

Affirm Holdings (AFRM) – The fintech company’s stock fell 2.8% in the premarket following yesterday’s 5.5% drop. The decline came in the wake of Apple’s (AAPL) announcement that it would add “buy-now-pay-later” options to its Apple Pay service. Block (SQ), the payments company formerly known as Square, lost 3%.

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5 things to know before the stock market opens Tuesday, May 10

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Wall Street set to rise after S&P 500 hits lowest level in over a year

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2022.

Brendan McDermid | Reuters

U.S. stock futures bounced Tuesday, with investors hoping Wall Street can break its three-session losing streak. The S&P 500 on Monday fell to its lowest level in more than a year. The broad market index dropped 3.2%, closing under 4,000. The Nasdaq tumbled nearly 4.3% and the Dow Jones Industrial Average dropped close to 2%. The Nasdaq’s bear market approached a 30% decline from its last record high in November. The S&P 500 and the Dow moved deeper into correction territory, defined by a drop of 10% or more from their most recent record highs, which were in early January.

2. 10-year Treasury yield and U.S. oil prices drop; bitcoin bounces

The brutal selling in the stock market of late has been triggered in large part by the rise in the 10-year Treasury yield, as bond traders bet that the Federal Reserve won’t be able to get inflation under control in a timely fashion. Ahead of two key inflation reports Wednesday and Thursday, President Joe Biden on Tuesday is set to deliver remarks on inflation.

  • The 10-year yield’s decline from multiyear highs did not seem to help equities Monday. However, the benchmark yield dipped again Tuesday, going below 3%, and stocks advanced in the premarket.
  • One day after sinking nearly 6.1%, U.S. oil prices dropped another roughly 1.5% on Tuesday but remained over $100 per barrel. Elevated crude prices have been reflected at American gas pumps — and on Tuesday, the national average hit an unadjusted-for-inflation record of $4.37 per gallon, according to AAA.
  • Bitcoin rose above $31,000 on Tuesday, one day after falling below that level for a more than 50% decline from November’s all-time high. The recent price drops come amid a broader, multiday sell-off that has ensnared much of the crypto market and equities.

3. Peloton plunges after reporting a big loss and weak guidance

Peloton on Tuesday reported a wider-than-expected quarterly loss and a steep decline in sales, as inventory piled up in warehouses and ate away at the company’s cash. Shares of the connected fitness equipment maker plunged more than 20% in premarket trading. Peloton offered up a weak sales outlook for the current quarter, citing softer demand. The company anticipates that planned subscription price hikes may lead some users to cancel their monthly memberships.

4. Migraine drug stock soars; shares of Covid vaccine maker sinks

Pfizer said Tuesday it will buy migraine drug maker Biohaven Pharmaceutical for about $11.6 billion in cash. Pfizer will acquire all the outstanding shares of Biohaven that it doesn’t already own for $148.50 each in cash. That’s 78.6% higher than Biohaven’s closing price Monday, a premium largely reflect in Tuesday’s premarket. In November, Pfizer acquired overseas marketing rights to two migraine drugs from Biohaven for up to $1.24 billion, with Pfizer taking a 2.6% equity stake.

Novavax shares sank over 20% in premarket trading after the vaccine maker missed both top and bottom line estimates for its latest quarter. The miss comes as Novavax shipped just 31 million Covid doses during the quarter, putting it well off the pace of its projected 2 billion shots for 2022. While reiterating its prior 2022 revenue forecast, the company said it expected vaccine sales to accelerate during the current quarter.

5. Tesla halts Shanghai production; Musk ‘aligned’ with EU tech law

Tesla has stopped most of its production at its Shanghai plant due to problems securing parts, according to Reuters, citing an internal memo. It’s the latest in a series of difficulties for the electric vehicle maker’s factory in China’s biggest city, which has been experiencing various levels of lockdowns for more than a month under that country’s zero-Covid policy.

EU industry chief Thierry Breton met Elon Musk in Texas on Monday, and the two signaled agreement on Europe’s digital media regulation ahead of the Tesla CEO’s purchase of Twitter. In a video with Breton, Musk said the spirit of the Digital Services Act “exactly aligned” with his thinking. The two did not go into detail on the law, which levies hefty fines on platforms if they do not control illegal content.

— CNBC’s MacKenzie Sigalos, Lauren Thomas and Pippa Stevens as well as Reuters contributed to this report.

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Brace for a volatile 2022, but cling to this tech stalwart when the storm comes, says investment adviser

The pain is piling up for equity investors after the long U.S. holiday weekend, with bond yields at levels not seen since early 2020, and oil prices tapping 2014 highs.

The pace of Federal Reserve monetary policy tightening amid the highest inflation in about 40 years, a bumpy start to the corporate earnings reporting season and pandemic uncertainties are just a few things on the worry list. Technology stocks
COMP,
-1.12%
are set to take the biggest hit on Tuesday, as a rapid rise in short term interest rates tends to make their future cash flows less valuable.

While a Deutsche Bank chart (below) reveals more tech-bubble worries, our call of the day makes a case for one of the biggest tech stalwarts, Apple
AAPL,
-0.43%,
saying the iPhone maker has an ace in the hole that few are paying attention to.

That call comes from investment adviser Wedgewood Partners, who kick off their fourth-quarter 2021 client letter with a warning about market volatility for 2022, triggered by central bankers who are about to usher in some market chaos by pulling the plug on years of cheap money. Even Chinese President Xi Jinping was heard warning the Fed not to hike interest rates at a virtual Davos on Tuesday.

However, the adviser also sees opportunities ahead as selling picks up speed, and they plan to stick to Apple, which they’ve owned for 16 years.

While Wedgewood said it couldn’t foresee the many products the company unveiled, “we did know that Apple’s vertically integrated [software and hardware] product development strategy was unique and extremely capable of creating products and experiences that customers thought worthwhile enough to spend growing amounts of time and money on,” said the adviser.

Today, that strategy remains intact, but more important Apple is commanding a key new realm, having developed over a dozen custom processors and integrated circuits, since launching its “A-series” processors. For example, one it produced in 2017 provided the iPhone X with enough power to operate FaceID 3-D algorithms, used to unlock phones and make digital payments.

“Apple has effectively created a semiconductor business that rivals and even surpasses some of the most established semiconductor-focused businesses in the industry,” said Wedgewood. “Apple continues to differentiate through vertical integration, which has been a hallmark of Apple’s long-term strategy to grow and capture superior profitability. It is difficult to predict what new products will be unveiled; however, we think this strategy should continue to serve
shareholders quite well.”

Other top positions recommended by Wedgewood include telecom group Motorola
MSI,
-1.73%,
another tech stalwart Microsoft
MSFT,
-0.23%
and retailer Tractor Supply
TSCO,
-1.14%.

Here’s a final comment from Wedgewood about the stock storm it sees brewing. “The graphic below reminds us that when speculation reigns, markets can go far higher than what seems sober,” but when they fall “markets will repeat their long history of falling faster and further than what seems sober.”


Wedgewood Partners

“Long term investors should root for such downside. Such times are opportunities to improve portfolios. Our pencils are sharpened for opportunities as Mr. Market serves them up.”

The markets

Microsoft shares are slipping after the tech group confirmed it will buy Activision Blizzard
ATVI,
+27.39%
in a $68.7 billion cash deal. The gaming group’s shares are flying, along with those of rival Electronics Arts
EA,
+6.72%.

Goldman Sachs
GS,
-7.72%
added to a disappointing batch of bank results from last week, with shares down as earnings came up short, with Charles Schwab
SCHW,
-4.29%
also falling on gloomy results. Kinder Morgan
KMI,
-0.14%
and Alcoa
AA,
-1.43%
are still to come.

Airbnb shares
ABNB,
-2.49%
are slumping after ratings and target cut from an analyst who sees multiple headwinds and too-few catalysts.

The New York Empire state manufacturing index for January fell well short of expectations. A National Association of Home Builders index for the same month is still ahead.

An unpublished study by an Israeli hospital showed second Pfizer
PFE,
-1.78%
-BioNTech
BNTX,
-7.77%
or Moderna
MRNA,
-4.70%
boosters aren’t halting omicron infections. Separately, Moderna’s CEO Stephane Bancel said his company is working on a combined flu/COVID booster, while White House chief medical advise Dr. Anthony Fauci, said it’s too soon to tell if omicron will bring us out of the pandemic.

Another study says COVID infections are turning children into fussy eaters due to parosmia disorders that distort their sense of smell. And China state media says packages from the U.S. and Canada had helped spread omicron, as Hong Kong gets ready to cull thousands of hamsters.

An airline lobby group is warning of “chaos” for U.S. air travelers due to 5G services rolling out this month, in a letter signed by big carriers, UPS
UPS,
-1.55%
and FedEx
FDX,
-1.39%.

Larry Fink, chairman and chief executive of BlackRock
BLK,
-1.72%
said investors need to know where company leaders stand on societal issues.

Retailer Walmart 
WMT,
-1.28%
is looking at creating its own cryptocurrency and nonfungible tokens, according to U.S. patent filings.

The markets

Uncredited

The Nasdaq Composite
COMP,
-1.12%
is sprinting ahead with losses, with the Dow
DJIA,
-1.43%
and S&P 500
SPX,
-1.24%
also lower Tuesday led by those for the Nasdaq-100
NQ00,
-1.28%
as bond yields
TMUBMUSD10Y,
1.848%

TMUBMUSD02Y,
1.034%
surge across the curve. Oil prices
BRN00,
+1.06%

CL00,
+1.56%
are surging after Iran-backed Houthi rebels launched a deadly drone attack on a key oil facility in Abu Dhabi. Goldman Sachs also predicted Brent could top $100 a barrel in 2023, while the OPEC left its 2022 global oil-demand forecast unchanged.

Losses spread to Asian
NIK,
-0.27%
and Europe stocks
SXXP,
-0.77%,
with a key German bund yields
TMBMKDE-10Y,
-0.012%
about to turn positive for the first time in three years.

The chart

A January survey of more than 500 investors polled by Deutsche Bank shows a slightly gloomier mood. For example, they are more bearish:


Uncredited

Many, especially those over 34, think tech shares are in a bubble:


Uncredited

And they continue to see inflation as the biggest risk to markets, but are also fretting a more aggressive Fed:


Uncredited

Here are the top stock tickers on MarketWatch as of 6 a.m. Eastern Time.

Ticker Security name
TSLA,
+1.47%
Tesla
GME,
-5.61%
GameStop
AMC,
-6.32%
AMC Entertainment
BBIG,
+29.75%
Vinco Ventures
NIO,
-0.71%
NIO
AAPL,
-0.43%
Apple
CENN,
-4.72%
Cenntro Electric Group
NVDA,
-1.57%
Nvidia
BABA,
-0.85%
Alibaba
NVAX,
-4.04%
Novavax
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Moderna, Royal Caribbean, Cerner and others

Check out the companies making headlines before the bell:

Moderna (MRNA) – Moderna shares jumped 7.2% in the premarket after the drugmaker said a booster dose of its Covid-19 vaccine increased protection against the omicron variant 37-fold. Amid the spread of omicron, other vaccine makers are also seeing gains with Pfizer (PFE) up 1.4%, BioNTech (BNTX) adding 3.1% and Novavax (NVAX) surging 10.3%.

Cruise line operators – The surge in omicron cases is weighing on cruise stocks, with more pressure after a Royal Caribbean (RCL) ship docked in Miami with 48 cases of Covid. Royal Caribbean dropped 2.9% in premarket trading, with Carnival (CCL) down 2.9% and Norwegian Cruise Line (NCLH) falling 3.6%.

Airline stocks – Omicron concerns are also weighing on the airline stocks, with United Airlines (UAL) falling 2.9%, American Airlines (AAL) sliding 2.8%, Delta Air Lines (DAL) falling 2.8%, Southwest (LUV) down 2.3% and JetBlue (JBLU) losing 2.2%.

Biogen (BIIB) – Biogen rallied 3.6% in the premarket after announcing it would cut the price of its Alzheimer’s drug Adulhelm by 50% in order to improve access to the treatment.

Cerner (CERN) – The medical records technology provider will announce a deal today to be acquired by Oracle (ORCL) in an all-cash transaction “in the mid-$90s” per share, according to CNBC’s David Faber. Cerner shares jumped 13% Friday after the Wall Street Journal reported the two sides were close to an agreement. Cerner was up another 1.7% in premarket trading.

Canopy Growth (CGC) – The cannabis producer slid 3.4% in premarket action after Piper Sandler downgraded the stock to “underweight” from “neutral”, citing sales trends that are under pressure across Canopy’s businesses.

Sunrun (RUN) – The solar company’s stock tumbled 9.4% in the premarket following a KeyBanc downgrade to “sector weight” from “overweight.” That follows proposals in California that would reduce “net metering” benefits for solar power customers and reduce incentives to buy such systems.

AT&T (T) – Barclays upgraded AT&T to “overweight” from “neutral,” based on a better broadband outlook for telecom companies than for cable providers. AT&T was up 1.6% in the premarket.

Verso (VRS) – The Ohio-based maker of specialty, graphic and packaging paper will be acquired by Swedish paper producer BillerudKorsnäs in a deal worth $27 per share in cash. Verso surged 32.2% in premarket trading.

Axon Enterprise (AXON) – The maker of stun guns and body cameras saw its stock jump 7.3% in the premarket, following a number of stock purchases by company insiders.

Novo Nordisk (NVO) – The Denmark-based drugmaker saw its shares slide 4.2% in premarket trading after saying supply issues in the U.S. market would leave it unable to meet demand for its weight-loss drug Wegovy.

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I prefer Pfizer’s stock over Novavax

Seres Therapeutics: “You’re a younger person and you’re new and I think you can buy it. For an older person, it’s too speculative because the company is not making any money. I like your call, though.”

ViacomCBS: “It’s OK. I think that whole business is under assault. You can mention any one of these. I think it’s just OK. I mean, it’s well run, but it’s just OK.”

Novavax: “They came on like gangbusters. We all thought they were going to be equal. I like Pfizer. Pfizer’s got the pill coming up, too. That’s the inexpensive way. I feel safe with Pfizer.”

ODP Corporation: “No, I can buy everything I want on Amazon. I do not need that company. That is an Amazon roadkill.”

GrowGeneration: “Now, Grow we had on in the teens and then when it got to the $40s and $50s, we said, ‘We have had enough. We’ve made too much money, let’s not be greedy.’ Bulls make money, bears make money, hogs get slaughtered, and we said sell and we have never looked back.”

Canopy Growth: “At this point, $9, I guess I would [be a buyer]. My problem here is that this did not have a good quarter. It’s not doing that well. … I don’t like the cannabis business. I just don’t. I think it was an overhyped business, not unlike what we’re seeing right now in the gambling business, which is just brutal.”

Palantir: “Cult stock, cult stock, cult stock. The cult stocks aren’t working, OK? … We fooled around with it, we traded it, but no. It’s a cult stock right now. It’s not working.”

ContextLogic: “We actually think this company is a decent company, and they’re throwing it away. I mean look, you buy it at $3, can it go to zero? I guess so, but it’s a good [speculative play].”

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