Moderna rises after positive flu vaccine trial results, paving way for combo shot

Moderna rose more than 5% in premarket trading after announcing positive results for its experimental flu vaccine, paving the way for a combination COVID-19 immunization.

The company’s mRNA-based flu shot was 27% more effective than the shots already on the market among adults 50 years and older, the company said in a statement Monday. Moderna disclosed in May that it tried to submit a combination Covid and flu shot for FDA approval, but regulators asked for more efficacy data on its stand-alone flu shot.

The news is a rare bright spot for Moderna amid a tumultuous year. The company’s main revenue source is COVID-19 shots, but sales are declining. Under the Trump administration it’s been met with a more hostile FDA, which has narrowed its recommendation for who should get Covid shots and canceled a contract for Moderna to develop a bird flu vaccine.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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