Why Moderna, EIX, CEG, and ANF Stock Dropped
Few investors expected a sell-off in a former Covid vaccine supplier. Moderna (MRNA) traded at around $32 at the open on Monday. The stock closed on the day at $35.15, down by 16.8%. The firm cut its revenue estimate for this year.Moderna is forecasting slow demand for both its Covid and RSV vaccines. As a result, revenue will be in the range of $1.5 billion to $2.5 billion in 2025. To offset lower sales, Moderna increased its cost-cutting plans. It will realize savings of $1 billion.Value investors may buy MRNA stock at a discount. However, the decline may continue as bears increase their bet against the firm.Despite no evidence that its power lines caused the fire in Los Angeles, Edison International (EIX) dropped by 11.89%. This is a price not seen since late 2023. Investors will need to wait for fire agencies to clear Edison’s Southern California unit of any involvement in the fires. Wells Fargo estimates that the fire will cost $30 billion in insured losses.Constellation Energy (CEG) will open at around $280 this morning, below its recent peak of $310. Profit-takers are taking advantage of CEG stock rallying. The firm will buy Calpine, which may add $2 billion per year in free cash flow.In the retail sector, Abercrombie & Fitch (ANF) lost 15.66% after its presentation at the ICR Conference. The increased revenue forecasts suggest that ANF stock is a buy from here.
Few investors expected a sell-off in a former Covid vaccine supplier. Moderna (MRNA) traded at around $32 at the open on Monday. The stock closed on the day at $35.15, down by 16.8%. The firm cut its revenue estimate for this year.
Moderna is forecasting slow demand for both its Covid and RSV vaccines. As a result, revenue will be in the range of $1.5 billion to $2.5 billion in 2025. To offset lower sales, Moderna increased its cost-cutting plans. It will realize savings of $1 billion.
Value investors may buy MRNA stock at a discount. However, the decline may continue as bears increase their bet against the firm.
Despite no evidence that its power lines caused the fire in Los Angeles, Edison International (EIX) dropped by 11.89%. This is a price not seen since late 2023. Investors will need to wait for fire agencies to clear Edison’s Southern California unit of any involvement in the fires. Wells Fargo estimates that the fire will cost $30 billion in insured losses.
Constellation Energy (CEG) will open at around $280 this morning, below its recent peak of $310. Profit-takers are taking advantage of CEG stock rallying. The firm will buy Calpine, which may add $2 billion per year in free cash flow.
In the retail sector, Abercrombie & Fitch (ANF) lost 15.66% after its presentation at the ICR Conference. The increased revenue forecasts suggest that ANF stock is a buy from here.
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