Sanofi (SNY)
After hours:
- Yahoo Finance Video
Fed rates, Tesla Supercharger backpedal, Novavax's 'new chapter': Market Domination
On today's episode of Market Domination, Yahoo Finance Hosts Julie Hyman and Josh Lipton break down the latest earnings and major trends Wall Street analysts are eyeing. Sweetgreen (SG) shares soar after the company topped first quarter revenue estimates and raised full-year guidance. Similarly, Taiwan Semiconductor Manufacturing Company (TSM) shares are rising after the company reported that its sales jumped nearly 60% year over year, largely due to AI demand. Morgan Stanley Wealth Management Managing Director Dan Skelly joins Market Domination to discuss some signs pointing to the Fed potentially cutting interest rates several times before the end of the year. Novavax (NVAX) shares skyrocket after the company announced a $1.2 billion vaccine deal with French drugmaker Sanofi (SNY). B. Riley Securities Managing Director & Group Head of Healthcare Research Mayank Mamtani explains how the partnership marks a "new chapter" for Novavax after a post-pandemic slump. Yahoo Finance reporter Pras Subramanian joins to discuss Tesla (TSLA) CEO Elon Musk backpedaling his recent move to shrink the company's Supercharger team. As many legacy automakers signed up to participate in Tesla's Supercharger network, Subramanian says Musk is trying to fix the issue he created after laying off a majority of the Supercharger team. A new edition of Good Buy or Goodbye analyzes two companies in the finance sector: PayPal (PYPL) and Goldman Sachs (GS). This post was written by Melanie Riehl
- Yahoo Finance Video
Sanofi vaccine deal kicks off Novavax's 'new chapter': Analyst
Novavax (NVAX) shares are skyrocketing after the company announced a $1.2 billion deal with French drugmaker Sanofi (SNY). B. Riley Securities Managing Director & Group Head of Healthcare Research Mayank Mamtani joins Market Domination to break down the deal. The co-exclusive licensing agreement between the two pharmaceutical companies includes co-commercializing Novavax's COVID-19 vaccine and developing a combination vaccine for the flu and COVID-19. Mamtani highlights that the perception of Sanofi as rescuing Novavax during a post-pandemic struggle is "absolutely true, and it makes the company and the stock investable." He adds that the deal will mark a "new chapter" for Novavax. However, he warns of some of the realities the two companies will have to overcome to be successful. "In the past couple of years, we have completely misread how the vaccination uptake rates would look like," the analyst explains. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl
- Bloomberg
Novavax’s 99% Surge Gives ‘Rib-Crunching’ Squeeze to Shorts
(Bloomberg) -- Novavax Inc.’s record one-day gain is forcing some short sellers betting against the stock to exit their positions at a loss. Most Read from BloombergApple Nears Deal With OpenAI to Put ChatGPT on iPhoneIce Cube’s Big3 Basketball League Sells Its First Team in $10 Million DealFord Cuts Battery Orders as EV Losses Top $100,000 Per CarElon Musk Pledges to Grow Supercharger Business He Just DecimatedA $600 Billion Wall of Debt Looms Over Market’s Riskiest StocksShares of the vaccine
