Moderna's shares (MRNA) experienced a record surge of 101% — its largest intraday gain ever — following the announcement of positive results from a late-stage trial of its personalized cancer vaccine. The biotech company stated that the vaccine, when combined with Merck & Co.'s Keytruda, significantly reduced the recurrence of melanoma and also met a key secondary goal by preventing tumors from spreading. This jump generated approximately $5.5 billion in paper losses for short sellers, bringing their year-to-date mark-to-market losses to roughly $7.7 billion.
Estee Lauder (EL) shares rallied after the beauty company reported adjusted earnings per share and sales metrics for its fourth quarter that surpassed consensus expectations. The company's revenue for the fiscal fourth quarter reached $3.6 billion, ending a streak of three consecutive declines in annual revenue. Furthermore, the midpoint of its fiscal 2027 organic sales and adjusted EPS guidance ranges were above Street views, contributing to investor optimism. Analysts at Morgan Stanley adjusted Estee Lauder's price target to $102 from $90, maintaining an Equal Weight rating, while UBS adjusted its price target to $106 from $86, maintaining a Neutral rating.
In contrast, La-Z-Boy (LZB) shares tumbled at the market open. The furniture maker's sales forecast for the second quarter missed the average analyst estimate, leading to a decline of 16.95% in its stock price. The positive news from Moderna has broader implications for the oncology and mRNA platform space, potentially benefiting BioNTech and increasing competitive pressure for established oncology players like Bristol Myers Squibb and Merck in combination therapy protocols.
