Tag Archives: Regeneron Pharmaceuticals Inc

Jim Cramer says he likes these 5 Nasdaq stocks for 2023

CNBC’s Jim Cramer on Thursday gave investors a list of stocks that he believes could be worthwhile additions to investors’ portfolios.

All of his picks are listed in the Nasdaq Composite. While the index is heavy with tech stocks that were hammered last year, there are still names that could perform well even in a recessionary environment, according to Cramer.

“In an index that’s been folded, spindled and mutilated, I am still feeling good about a few of these stocks,” he said.

Here are his picks:

T-Mobile

  • Cramer said that he expects the company to continue taking market share from competitors.

Regeneron Pharmaceuticals

  • “Regeneron’s got a broad pipeline with a ridiculously cheap stock. I think it’s a really, really excellent situation, especially if you’re expecting a severe recession,” he said.

PepsiCo

  • The beverage giant rivals Procter & Gamble when it comes to the best consumer packaged goods company in the U.S., he said, though he acknowledged that the stock’s valuation is a bit higher than he would like.

American Electric Power

  • Cramer said that he likes the stock because the company is well-run, and utility stocks tend to perform well during economic slowdowns.

Dollar Tree

  • While he does like the stock compared to other retailers listed on the Nasdaq, Cramer said that he still prefers TJX Companies.

Disclaimer: Cramer’s Charitable Trust owns shares of TJX Companies.

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Lowe’s, Tenneco, Tupperware and others

Check out the companies making headlines before the bell:

Lowe’s (LOW) – Lowe’s shares added 1.6% in the premarket after the home improvement retailer beat top and bottom-line estimates for the fourth quarter. Lowe’s earned $1.78 per share, 7 cents above estimates, and issued upbeat full-year guidance as demand for tools and building materials remained elevated.

Tenneco (TEN) – The automotive components maker agreed to be acquired by affiliates of Apollo Global Management (APO) for $20 per share in cash, compared with Tenneco’s Tuesday close of $9.98 per share. The deal is expected to close during the second half of this year. Tenneco soared 91.7% in premarket action.

Tupperware (TUP) – The maker of home storage products saw its shares slump 3% in the premarket following its quarterly earnings report. Tupperware’s revenue was above Street forecasts, but its adjusted profit of 38 cents per share missed estimates by 14 cents amid what the company called “challenging operating conditions.” Tupperware noted it saw both top and bottom-line growth in 2021 despite those challenges.

Palo Alto Networks (PANW) – The cybersecurity software company beat estimates by 9 cents with adjusted quarterly earnings of $1.74 per share and revenue that topped Street forecasts as well. Palo Alto also gave a better-than-expected forecast, and its shares rallied 7.8% in premarket trading.

Virgin Galactic (SPCE) – The space tourism company’s stock jumped 4.1% in premarket action after it reported a narrower-than-expected quarterly loss and improvement in its cash position.

Stellantis (STLA) – The automaker beat its profit targets in the first year following the merger of Fiat Chrysler and Peugeot parent PSA Group. It also said it was realizing projected benefits from that combination sooner than originally expected. Its stock surged 6.3% in the premarket.

GlaxoSmithKline (GSK), Sanofi (SNY) – GlaxoSmithKline rose 1.7% in the premarket and Sanofi was up 1.5% following news that the two companies would submit their Covid-19 vaccine to global drug regulators for approval.

Caesars Entertainment (CZR) – The casino operator’s stock jumped 4.5% in premarket trading after the company reported a 63% jump in revenue compared with a year ago, and a narrower loss.

Mosaic (MOS) – The fertilizer producer’s shares slid 5.6% in premarket action after the company’s quarterly earnings and revenue fell below analyst forecasts. Mosaic said it expects upward pricing momentum to continue.

Quest Diagnostics (DGX) – The medical lab operator’s stock was down 2.1% in the premarket after UBS downgraded it to “neutral” from “buy.” UBS cited risk to meeting management’s earnings target for fiscal 2023, given the company’s level of investment in growth.

Kodiak Sciences (KOD) – The drugmaker said a mid-to-late stage trial of its experimental eye drug failed to show it was not inferior to Regeneron’s (REGN) Eylea macular degeneration treatment. Kodiak tumbled 69.2% in premarket trading while Regeneron jumped 4.5%.

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Stocks making the biggest moves midday: Merck, Moderna and more

Check out the companies making headlines in midday trading.

Merck — Shares surged more than 9% after it announced its new antiviral pill cut the risk of death or hospitalization by 50% for Covid patients. The pharmaceutical company plans to file for emergency use authorization.

Moderna, Regeneron — Companies with other Covid-19 drugs fell after Merck’s oral pill showed positive data in a clinical trial. Moderna’s stock fell nearly 13%, while shares of Regeneron dropped more than 5%.

United Airlines, Delta Air Lines, American Airlines, Southwest Airlines — Airline stocks rallied as Merck’s oral Covid drug showed promising results. United Airlines rose nearly 6%, Delta Air Lines gained more than 5% and American Airlines rallied roughly 4%. Southwest Airlines jumped more than 4% as well following an upgrade on the stock by JPMorgan.

Penn National Gaming, Hilton Worldwide, Norwegian Cruise Line — Travel and entertainment stocks jumped following the positive results from Merck’s Covid pill. Penn National Gaming rallied more than 6%, Live Nation Entertainment added about 5%, Hilton Worldwide gained more than 4% and Norwegian Cruise Line rose nearly 4.8%.

Lordstown Motors — Lordstown Motors saw its stock sink more than 15% after it announced an agreement to sell its Ohio assembly plant to iPhone maker Foxconn for $230 million. Shares of Lordstown Motors had rallied by as much as 21% by Thursday as reports indicated the deal was in the works.

Zoom Video Communications — Zoom and Five9 terminated what would have been a $14.7 billion deal. Five9 shareholders rejected the proposed acquisition by Zoom. Zoom shares gained 2.2% and Five9 shares rose 3.2%.

Walt Disney — Shares of the media giant popped 3% on news that Disney and Scarlett Johansson settled a lawsuit involving the “Black Widow” movie. Johansson had sued Disney over the release of the movie on the Disney+ streaming service at the same time it was debuting in theaters.

Exxon Mobil – The oil giant advanced more than 2% after the company updated Wall Street on its expected third-quarter results. In a filing with the Securities and Exchange Commission, Exxon said that higher oil and gas prices could lift earnings by as much as $1.5 billion. Analysts at Bank of America said the company is on track for its highest earnings per share since the third quarter of 2014.

International Flavors & Fragrances – Shares of International Flavors popped more than 6% after the company announced its chief executive Andreas Fibig plans to retire. The company said Fibig will remain at the helm of the company until a successor is found.

— CNBC’s Jesse Pound and Maggie Fitzgerald contributed reporting

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How CRISPR gene editing will treat disease: Intellia founder Doudna

Gene-editing technology CRISPR reached a major milestone this past weekend, completing its first systemic delivery as a medicine to a human body.

CRISPR, or clustered regularly interspaced short palindromic repeats, effectively cuts genomes and slices DNA to treat genetic diseases.

The latest breakthrough, the result of a trial between biotech company Regeneron and Boston-based startup Intellia Therapeutics, treated a rare disease after being given as an IV infusion. Previously, other applications of the CRISPR technology had been limited to ex vivo therapy, or where cells are removed from the body for genetic manipulation in a laboratory and then reintroduced to the body.

Jennifer Doudna, who was awarded the 2020 Nobel Prize in chemistry for her work on CRISPR gene editing and is the co-founder of Intellia, recently told CNBC the evolution of the technology from the publication of her early work to clinical trials showing it to be effective in treating diseases in less than 10 years represents, “One of the fastest rollouts I think of technology from the fundamental, initial science to an actual application.”

“It’s largely because the technology comes at a moment when there’s enormous demand for genome editing, as well as a lot of knowledge about genomes,” Doudna said at the recent CNBC Global Evolve Summit in mid-June.

As for what’s next, Doudna highlighted several challenges and opportunities on the horizon for CRISPR.

Delivery of CRISPR remains a big challenge

While the technology has continued to advance, the task of getting the edited molecules to travel in the body to the cells in the areas where they are needed remains a challenge.

“This is especially an issue in clinical medicine where being able to edit brain cells, heart cells or muscle cells has incredible potential but right now we don’t really have the tools to introduce the editors into those cells,” Doudna said. “We have the editors; we just don’t know how to get them where they need to go.”

Sickle cell anemia has been an early focus

Much of the success of the applications of CRISPR thus far has been with ex vivo therapy, where extracted cells are manipulated in a laboratory and then reintroduced into a patient.

Sickle cell anemia, which is passed down genetically and affects approximately 100,000 Americans, according to the CDC, has been a particularly good target for the technology as blood stem cells can be “harvested, edited and then reintroduced to patients,” Doudna said.

Genetic diseases of the eye have also been a focus for CRISPR applications as Doudna said “it’s easier certainly to deliver to the eye than to other parts of the body.”

Delivering the edited cells to the liver has also proven to be easier thus far. “A liver is an organ that naturally takes up molecules in the body,” she said.

Any progress in eradicating the more than 100 liver diseases could have a major impact on the lives of Americans. At least 30 million people, or one in 10 Americans, has some sort of liver disease, according to the American Liver Foundation.

Focusing next on the brain, heart, muscles

The next step for innovation around CRISPR will be getting those cells to other parts of the body, such as the brain, the heart and muscles, Doudna said.

“There are some technologies already that enable some of this, for example using various kinds of viruses or virus-like particles, and I’m excited about the innovation that will come in the next few years in this regard,” she said.

The cost of treatment is a concern

But as the technology improves and scientists gain the ability to target diseases all across the body, Doudna said that for CRISPR technology to be “widely impactful,” it will need to be cheaper.

Treating sickle cell disease with CRISPR therapy, Doudna said, costs about $2 million a patient.

“That is clearly not a price point that will make this available to most people that can benefit from it,” she said.

While addressing delivery challenges may also help lower costs, Doudna said that the medical field needs to figure out how to “scale the molecule production so that we reduce costs.”

Applying CRISPR to agriculture

The advancement of CRISPR technology can also have an impact on other industries, with agriculture being one of the first to benefit.

Rather than trying to address genetic issues through breeding which can take months to years, or current methods for genetically modifying crops that have boomed in recent decades but involve inserting biological material from other species, the CRISPR technology can manipulate the genes of plants “without touching anything else,” Doudna said.

“This is opening the door to lots of things now that can be done to both address challenges of climate change, dealing with drought conditions, introducing traits in the plants that give them protection against pests,” she said.

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