🚀 Moderna down 18% in minutes

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Moderna has revised its 2025 sales forecast down by $1 billion, now expecting revenue between $1.5 billion and $2.5 billion due to falling vaccination rates, increased competition, and uncertainty around manufacturing contracts and RSV revaccination guidelines. Its U.S. Covid vaccine market share dropped to 40% in 2024 from 48% in 2023, while sales of its Covid and RSV vaccines are expected to drive most revenue in the second half of 2025. Shares fell 18% when the stock opened Monday morning as the company outlined cost-cutting plans to preserve cash, including reducing 2025 expenses by $1 billion. Moderna aims to diversify its portfolio with 10 new product approvals over the next three years, focusing on its mRNA platform to offset declining Covid vaccine demand, which plummeted from $18 billion in 2022 to $3 billion in 2024.

2. Bill Ackman’s Pershing Square plans to take over Howard Hughes Holdings by forming a new subsidiary, offering shareholders $85 per share—a 38.3% premium to the unaffected stock price and an 18.4% premium to the latest closing price. Pershing, which owns 38% of Howard Hughes, has seen a lackluster 2.2% annual return since its 2010 investment and cites dissatisfaction with the company’s stock performance despite management’s strong leadership. The proposed deal would allow shareholders to receive a mix of cash and stock in the post-merger entity, with no changes to the company’s management, employees, or long-term strategy. Howard Hughes shares rose 11% to $79.67 in premarket trading.

3. The 10-year Treasury yield climbed to a 14-month high of 4.776%, reflecting investor caution ahead of key inflation data and a hot jobs report showing December nonfarm payrolls rising by 256,000, far exceeding forecasts. The 2-year Treasury yield edged up slightly to 4.407%, while longer-term yields remained elevated. Rising global bond yields signal expectations of a slower pace of rate cuts, driven by economic resilience and uncertainty surrounding President-elect Donald Trump’s policies. Market focus now shifts to upcoming producer and consumer price index reports for further inflation insights.

4. Headlines

   1. Bitcoin was down significantly over the weekend and on Monday as it approaches $90,000.

   2. Tech stocks, including Palantir and Nvidia, saw significant losses on the market’s opening Monday morning as investors cycled out of big-name tech stocks.

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