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J. Edward Moreno1/22/26

Moderna extends rally on positive cancer vaccine results

Moderna has more than doubled since it announced on Tuesday that its cancer vaccine reduced the risk of relapse or death for melanoma patients.

The five-year data from a Phase 2b trial showed that Moderna’s vaccine, when used with Merck’s blockbuster treatment Keytruda, reduced the risk of recurrence or death by 49% compared with Keytruda alone. The news gave investors hope that Moderna, which is best known for quickly developing a COVID-19 vaccine, may soon have another lucrative product in its portfolio.

Last week, Moderna said it expects to report total 2025 revenue of $1.9 billion, on the high end of its latest guidance of between $1.6 billion and $2 billion, amid better-than-expected vaccination rates. As demand for the COVID-19 vaccine, its sole revenue-generating product, has tanked, the company has aggressively cut costs and focused on expanding its portfolio.

The combination of positive announcements early in the year has made Moderna the second-best performer in the S&P 500 Index in 2026, behind newfound AI darling Sandisk.

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How Oracle is de-risking its AI boom

Oracle released its third-quarter earnings yesterday, and the company is making it clear that its ambitious AI growth is grounded in reality and cold hard cash.

BATTLE ROYALE

“This is not how they got rich and happy.”

Tech giants competition with one another

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Max Knoblauch4h

CarMax rises after activist investor Starboard takes $350 million stake

Online car retailer CarMax is climbing in premarket trading on Wednesday following reports that activist investor Starboard Value has taken a $350 million stake in the company.

Starboard nominated two directors to CarMax’s board, including its own CEO, Jeff Smith, and Frontdoor CEO Bill Cobb.

According to a letter sent by Starboard to CarMax, the hedge fund thinks the company can improve performance by adopting more dynamic pricing, reconditioning vehicles more efficiently, and reducing admin and other costs by more than $300 million.

Per Starboard’s letter: “If the experience is superior, CarMax does not need to be the lowest-priced provider to win. We strongly encourage you to be hyper-focused on the digital end-to-end consumer experience. We believe there is an ample amount of low hanging fruit; so much fruit that it may even be touching the ground.”

CarMax is the largest US used car retailer, but rival Carvana has closed the retail sales gap between the two companies to about 6,000 vehicles as of the two most recent comparable quarters.

Activist Starboard Is Said to Build $350 Million Stake in CarMax

Activist Starboard Is Said to Build $350 Million Stake in CarMax

According to a letter sent by Starboard to CarMax, the hedge fund thinks the company can improve performance by adopting more dynamic pricing, reconditioning vehicles more efficiently, and reducing admin and other costs by more than $300 million.

Per Starboard’s letter: “If the experience is superior, CarMax does not need to be the lowest-priced provider to win. We strongly encourage you to be hyper-focused on the digital end-to-end consumer experience. We believe there is an ample amount of low hanging fruit; so much fruit that it may even be touching the ground.”

CarMax is the largest US used car retailer, but rival Carvana has closed the retail sales gap between the two companies to about 6,000 vehicles as of the two most recent comparable quarters.

markets

Max Knoblauch4h

A “Pokémon” game similar to “Animal Crossing” is selling out at US retailers, boosting Nintendo shares

“Pokémon Pokopia,” a Switch 2 exclusive game in the vein of “Animal Crossing,” has become something of a sleeper mass hit for Nintendo, sending the gaming giant’s shares climbing. The stock closed up more than 8% in Japan on Wednesday. US ADRs are up 5% in premarket trading.

Physical editions of “Pokopia” are currently out of stock on Walmart’s website, and earlier this week Amazon temporarily hiked the price of the game to $80 as demand surged.

“Pokopia” falls into a category of cozy games that have become a major industry category. “Animal Crossing” is the second-most-popular title on the original Switch and has sold more than 49 million copies. The 10-year-old “Stardew Valley” has sold more than 50 million copies across consoles and PC.

The Switch 2 is seeing a momentum boost from the “Pokémon” exclusive, Jefferies analyst Atul Goyal wrote in a recent note. That’s helping to offset investor fears around the growing issue of memory prices.

February CPI inflation lands in line with expectations

February inflation figures are out.

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