BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Earnings Call'. (Return)

Yahoo BusinessAug 05, 2020
Moderna Posts Q2 Beat, Closes In On Coronavirus Vaccine Deal With Swiss Government
Moderna Inc (NASDAQ: MRNA) shares were moving to the downside Wednesday despite the coronavirus vaccine developer reporting forecast-beating second-quarter results and reports of a potential deal with the Swiss government.Moderna's Q2 Report: Cambridge, Massachusetts-based Moderna said its second-quarter revenue increased from $13.1 million in 2019 to $66.4 million in 2020, exceeding the $27.43-million consensus estimate.The company attributed the higher revenue to increased collaboration revenues from AstraZeneca plc (NYSE: AZN) and incremental BARDA funding.The loss per share narrowed from 41 cents to 31 cents, despite R&D expenses climbing about 18%. The Street was expecting a loss of 35 cents per share. The company ended the quarter with cash, cash equivalents and investments of about $3.1 billion. Moderna raised $1.3 billion in net proceeds with a public equity offering in May.Moderna said it has received about $400 million in customer deposits as of July 31 for potential supply of its coronavirus vaccine candidate, mRNA-1273.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Moderna Analyst Says Government Funding Key: On the earnings call, the company said it has executed smaller volume agreements for mRNA-1273 at $32-$37 per dose, and it expects to negotiate larger volume contracts at lower prices in the future, SVB Leerink analyst Mani Foroohar said in a note."We continue

MarketWatch MarketPulseAug 05, 2020
Western Digital stock plunges 12% after weak earnings outlook
Western Digital Corp. slumped more than 12% in after-hours trading Wednesday following an earnings report that included a disappointing forecast for the hard-drive maker's new fiscal year. Western Digital reported fiscal fourth-quarter earnings of $148 million, or 49 cents a share, on sales of $4.29 billion, up from $3.63 billion a year ago. After adjusting for stock-based compensation and other factors, the company reported earnings of $1.23 a share, up from 17 cents a share last year. Analysts on average expected adjusted earnings of $1.22 a share on sales of $4.36 billion. While Western Digital's revenue was a bit light, the bigger miss was in the fiscal first-quarter forecast, which called for a year-over-year decline in sales with guidance for adjusted earnings of 45 cents to 65 cents a share on sales of $3.7 billion to $3.9 billion. Analysts on average were expecting adjusted earnings of $1.35 a share on sales of $4.36 billion. Western Digital shares have declined nearly 30% so far this year, and closed with a 0.7% decline at $44.47 Wednesday before plummeting to less than $40 in after-hours trading following the announcement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



RELATED ARTICLES
Community Healthcare Trust Inc (CHCT) Q2 2020 Earnings Call Transcript (The Motley Fool)
Discovery Communications Inc (DISCA) Q2 2020 Earnings Call Transcript (The Motley Fool)
TRENDING TAGS
Stockmarket earnings July gold beat
Pandemicduring Coronavirus How business Covid-19
Coronavirusvaccine Johnson deal updates latest
Covid-19vaccine Johnson pandemic million results
Marketstock stocks gold updates earnings
earningsstock Q2 Call Transcript Inc
Businesspandemic Help coronavirus How billion
TikTokInstagram Reels Microsoft Facebook Launches
BillionDeal health Livongo Teladoc Johnson
TrumpBiden CNN TikTok explosion

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC