Yahoo Finance Trending tickers: Costco | Moderna | Rivian | H&M
The latest investor updates on stocks that are trending on Friday
Costco (COST)
Shares in Costco Wholesale jumped to $639 in extended trading after the warehouse retailer posted higher profit in its fiscal first-quarter and announced a special dividend.
The retailer said its board of directors approved a special payout to shareholders of $15 per share. This is the fifth special dividend in 11 years, chief financial officer Richard Galanti said.
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Costco reported a 16.6% increase in profits to $1.59bn, or $3.58 per share on 6.2% revenue growth to $57.8bn in revenue. Net sales rose 6.2% to $56.72 billion while membership fee revenue jumped 8.2% to $1.08bn.
The stock is up by 38% this year.
Moderna (MRNA)
Moderna shares were trending in after hours trading after the pharma company and Merck (MRK) reported positive trial results for an experimental mRNA-based treatment for skin cancer.
The new cancer vaccine reduced the risk of relapse or death by 49% in melanoma patients, the companies said. The update fueled big gains for Moderna stock, which has been hit by weaning demand for its COVID vaccine.
"The data is actually improving. We have ideas of how to improve the technology further from new science, from manufacturing. So I think it's a big deal for melanoma patients," CEO Stéphane Bancel told Yahoo Finance Live.
The cancer vaccine could win an accelerated approval in 2025.
Rivian (RIVN)
Rivian shares were higher in extended trading after the electric truck maker announced it struck a deal to supply electric vehicles (EVs) for AT&T Inc.’s fleet.
Under the deal, AT&T will be using Rivian's commercial vans and R1 vehicles. The number of EVs AT&T would be buying was not disclosed.
It is the first deal for Rivian after the EV auto maker revealed it was no longer subject to exclusively selling its electric delivery van to Amazon (AMZN), which is a shareholder in Rivian. Rivian still plans to build 100,000 delivery vans for Amazon.
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“We’re excited to purchase Rivian EVs for our fleet. This pilot is another important step in our ongoing efforts toward sustainability, reducing our carbon footprint and embracing a cleaner future for our operations,” said Hardmon Williams, AT&T connected solutions senior vice president, in a statement.
H&M (HM-B.ST)
H&M has reported a fall in revenues as consumers cut back spending on the chain’s fast fashion.
Sweden’s Hennes & Mauritz had earlier cautioned that sales in September could fall by as much as 10% due to hot weather causing customers to delay purchases of autumn clothes.
The fast fashion retailer is also missing out on Russian sales this year after exiting the country.
Sales were down 4% in the three months to November. Excluding Russia and Belarus, the Swedish retailer said sales decreased by 1% in local currencies.
Watch: Moderna CEO talks skin cancer vaccine
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