Moderna Sinks on Plans to Cut R&D Spending

47 minutes ago

Moderna (MRNA) shares plunged Thursday morning after the COVID vaccine maker announced plans to trim its research and development pipeline to cut costs.

The company said it will focus on getting FDA approval for 10 products to treat RSV and cancer, along with a combination COVID and flu vaccine.

Moderna said it expects the moves to lower expenses by $1.1 billion by 2027.

The stock was down 18% in recent trading and has lost about a third of its value since the start of the year.

–Aaron McDade

Watch These First Solar Levels After Post-Debate Surge

2 hr 42 min ago

First Solar (FSLR) shares were down slightly in premarket trading Thursday after soaring 15% on Wednesday, leading a broader rally for clean energy stocks, amid investor optimism about the sector in the wake of the previous night’s presidential debate.

Wednesday’s jump from a saucer pattern's neckline occurred on the highest share turnover since late June and saw the price close above the closely-watched 50-day moving average, indicating conviction behind the buying.

Investors should watch important overhead price levels at $235, $265, and $300, while monitoring key support around $215 during retracements

Read the full technical analysis piece here.

–Timothy Smith

Major Indexes Slightly Higher Ahead of Data Releases

3 hr 48 min ago

Futures tied to the Dow Jones Industrial Average were up 0.2%.

S&P 500 futures were up 0.1%.

Nasdaq 100 futures were also up 0.1%.

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