Novavax experienced a significant surge in its stock prices, reaching up to a 50% increase following the announcement of a multibillion-dollar deal with French pharmaceutical company Sanofi. This partnership marked a turning point for Novavax, which had previously been struggling in the vaccine market. The licensing agreement with Sanofi allowed Novavax to alleviate its “going
Business
Amidst a broader consumer slowdown impacting the restaurant industry, high-income consumers have emerged as a beacon of hope for some major players like Chipotle Mexican Grill, Wingstop, and Sweetgreen. These chains have defied the trend of declining sales and foot traffic that has plagued the industry. While giants like McDonald’s, Starbucks, and Yum Brands have
Moderna announced on Friday that the Food and Drug Administration has postponed the approval of its vaccine for respiratory syncytial virus (RSV) until the end of May. The delay was attributed to “administrative constraints” within the agency, causing anticipation for the decision to extend beyond the expected timeframe. Despite the setback, Moderna clarified that the
The upcoming boxing match between Mike Tyson and Jake Paul has generated a lot of excitement, with soaring ticket prices and strong interest from bettors. Scheduled to take place on July 20 at AT&T Stadium in Arlington, Texas and streamed on Netflix, this highly anticipated bout is expected to be the most heavily bet on
The summer movie season of 2024 started off on a rough note, with the absence of a Marvel film for the first time since 2009. Traditionally, Marvel Cinematic Universe films have been a cornerstone of the summer box office, consistently generating openings of over $100 million. This year, the headline film for the summer weekend
Oddity Tech, a newly public Israeli cosmetics platform, recently announced its first-quarter results that exceeded expectations. The company, known for using artificial intelligence to develop innovative products, reported earnings per share of 61 cents adjusted compared to the expected 49 cents. Additionally, revenue reached $211.63 million, surpassing the $205 million estimate. The company’s net income
Howard Schultz, the former CEO of Starbucks, recently commented on the coffee chain’s disappointing latest quarterly report. Despite no longer holding a formal role within Starbucks, Schultz believes that the company can recover by focusing on improving its U.S. stores. He attributes the downturn to issues with the mobile order and pay experience, as well
Amgen’s stock surged by over 12% following the release of positive initial data on its experimental weight loss injection. This news sparked concerns among investors about potential new competition in the rapidly expanding weight loss drug industry. As a result, shares of current obesity drug market leaders, Novo Nordisk and Eli Lilly, took a hit
Wayfair, a prominent online furniture retailer, recently announced its first-quarter financial results, revealing a decline in sales. However, the company managed to reduce its losses after implementing a significant workforce reduction at the beginning of the year. Wayfair surpassed the expectations of Wall Street analysts in terms of both revenue and adjusted loss per share,
Johnson & Johnson has recently announced a major decision to pay $6.5 billion over 25 years to settle a large portion of the lawsuits in the U.S. that claim its talc-based products are responsible for causing ovarian cancer. This move comes in the face of mounting legal and public relations challenges that the company has