Moderna shares were on track for their worst day since 2018 after Bloomberg reported that results for its highly anticipated melanoma vaccine appeared on scientific websites before their planned public release this weekend. According to Semaphore, Elon Musk has invested $1 billion in Skydance, after media mogul John Malone speculated that Musk would invest $10 billion in a company holding nearly $90 billion in debt. Spotify beat analyst estimates on paid user growth, adding 6 million premium subscribers to reach 306 million, up 9% from a year ago. Its shares surged nearly 9% on the results.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
ModernapharmaceuticalsElon MuskSpotify
Open a keyword to see other news on the same topic.
Related news
- Moderna shares plunge after leak of partial cancer vaccine data despite positive results
Moderna shares fell as much as 25% on Thursday after partial data from its cancer vaccine developed with Merck leaked ahead of the full results, which were released later that day. The full data appeared positive relative to Wall Street expectations: the personalized vaccine intismeran autogene, combined with Keytruda, reduced the risk of recurrence or death in certain melanoma patients by 42% versus Keytruda alone, and cut the risk of distant spread or death by 38%. Detailed phase 3 results will be presented at the European Society for Medical Oncology conference this weekend. Investors view the vaccine as a possible breakthrough that could extend to other cancers, and the stock has spiked more than 530% this year on high expectations.
- Moderna's stock tumbles after reported leak of data for cancer vaccine
- Moderna is about to release the trial results for its cancer vaccine. A lot is riding on this data.
- Forget COVID: Moderna Is Turning Into a Cancer Company -- and Wall Street Is Taking Notice
- Move Aside, Moderna: This mRNA Stock Is Sitting on a Cash Pile and a Deep Cancer Pipeline
BioNTech had 16.6 billion euros in cash, cash equivalents and securities at the end of the second quarter and has announced a share buyback of up to $1 billion. Its only commercialized product is Comirnaty, the COVID-19 vaccine it developed and markets with Pfizer, while it aims to become a multiproduct oncology company by 2030. Its pipeline includes 14 ongoing pivotal trials and more than 10 novel combination approaches, with pumitamig, developed with Bristol Myers Squibb, showing encouraging lung cancer results with chemotherapy and being tested in seven pivotal trials under the ROSETTA program. Of the 20 analysts covering the stock, 13 rate it a strong buy and the rest a hold, with target prices implying potential upside of 5% to 64%. The stock trades at a price-to-sales ratio of 7, but risks include trial failures, regulatory delays, competition and declining COVID-19 vaccine revenue.
- Novavax Plunges 12% as Selloff Hits Vaccine Makers; Moderna Tumbles 10%, Pfizer Holds Steady
Novavax (NASDAQ:NVAX) fell 12% to $11.23 in afternoon trading, leading a selloff in vaccine stocks, while Moderna (NASDAQ:MRNA) dropped 10% to $212.80 and Pfizer (NYSE:PFE) rose 0.5% to $29.59. Novavax depends on partner Sanofi, which holds U.S. approval for its Nuvaxovid vaccine and is rolling it out in the UK, Germany and Canada; Novavax earns royalties and milestone payments rather than selling the vaccine itself. Citi kept its Sell rating on Novavax while raising its price target just before the drop. The iShares Biotechnology ETF (NASDAQ:IBB) fell 2% and the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) fell 0.6%, suggesting the heaviest pressure is concentrated in vaccine developers. The article notes royalties could grow as Nuvaxovid reaches more countries, but milestone timing depends on Sanofi's schedule.
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.