Novavax climbs after its Covid jab gets FDA approval

American vaccine maker Novavax rose more than 20% in early trading on Monday after it announced that the Food and Drug Administration fully approved its COVID-19 vaccine, Nuvaxovid.

Nuvaxovid is the only protein-based, non-mRNA Covid vaccine available in the US. It was previously available under emergency use authorization, but the approval by the FDA allows it to stay on the market indefinitely.

The announcement is welcome news for vaccine makers amid worries that Robert F. Kennedy Jr., a vaccine skeptic who now leads the Department of Health and Human Services, would curtail access to vaccines. Moderna, which still makes most of its revenue selling its mRNA-based Covid vaccine, also nudged up on the news.

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Jon Keegan19m

Microsoft shares have biggest single-day drop since March 2020

Yesterday, Microsoft reported strong earnings and revenue for its second quarter, but the stock plunged after hours. Investors seem to have been concerned about so much of Microsoft’s booked contracts coming from one company — OpenAI, as well as its slowing cloud growth.

Today, it got worse. Microsoft shares sunk 10%, suffering the largest single-day drop since the start of the COVID lockdown in March 2020.

Matt Phillips53m

Western Digital beats Wall Street estimates for Q2 sales, EPS

Western Digital posted better-than-expected quarterly sales and EPS figures after the close Thursday, though the shares slipped after hours.

Here’s how the results looked:

Fiscal Q2 revenue was $3.02 billion vs. $2.93 billion consensus analyst expectations, per FactSet.
Adjusted earnings per share of $2.13 vs. the $1.93 analysts predicted.
Fiscal Q3 guidance for adjusted EPS of $2.15 to $2.45 vs. analyst estimates of $1.99.
Guidance for Q3 sales of $3.1 billion to $3.3 billion vs. estimates of $2.98 billion.

Western Digital — and rival Seagate Technology Holdings — were among the market’s best performers last year, rising 282% and 219%, respectively, as data storage became a key bottleneck for hyperscalers.

The shares are romping into 2026 as well, with both stocks up more than 60% in January through the close of trading on Thursday.

Sandisk blows past quarterly earnings expectations, forecasts blockbuster Q3 numbers

It was the best performer in the S&P 500 last year. It’s already doubled in January. And shares are soaring after hours.

Matt Phillips1h

Tasha Matsumoto

Stocks fall as software slump drags down the tech sector

Meta, Microsoft, and Tesla all posted earnings beats after the bell yesterday, but market reaction was mixed on worries of ballooning capex.

Chicago Bears quarterback Dave Krieg shows dejection during a game against the Green Bay Packers on October 6, 1996 in Chicago. Green Bay won the game 37-6.

Southwest Airlines Announces It's Ending Its Open Seating

Southwest logs its biggest gain since 1978 as it says bag fees and seating changes will quadruple profit

Southwest shares closed up 19% on Thursday, their biggest daily gain in nearly half a century.

Max Knoblauch4h

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