Select a category
Instablog9ja
48 m
12
Sowore has being released after detention at Lagos Airport by Nigerian Authorities Over #EndBadGovernance Protest.
He said he has just been released by the Nigerian Immigration after a brief detention and his passport released back to him.
Investopedia
48 m
12
:max_bytes(150000):strip_icc()/GettyImages-1223699978-c745ddad861f44e497e1c782196855cc.jpg)
Shares of Moderna (MRNA) fell for the second day in a row after the company said it would slash its research and development expenditures.
The stock was recently off about 3%, with analysts at JPMorgan contributing to the pullback. The firm dropped its rating on the shares to underweight from neutral, cutting its price target to $70 from $88. That target is substantially below Wall Street's consensus of around $100, according ot Visible Alpha.
Shares of the medical biotechnology firm dropped 12% on Thursday, closing around $70. They're down some 30% this year.
Moderna said it would cut $1.1 billion in expenses by 2027 and acknowledged that its individualized neoantigen therapy (INT) cancer treatment is unlikely to receive accelerated approval from the Food and Drug Administration.
“Despite some significant clinical wins that underscore the versatility of [Moderna’s mRNA] platform, with confirmation that INT is unlikely to be filed for accelerated approval, and our expectation that quarterly results are unlikely to consistently surprise to the upside, we think it could be challenging for the stock to perform,” JP Morgan analysts said.
Moderna on Thursday projected fiscal 2025 revenue of $2.5 billion to $3.5 billion compared to analyst projections of $2.9 billion. It expects to break even on an operating cash cost basis with a projected $6 billion in revenue in 2028, once more products have been approved.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Investopedia
2 hrs
11
:max_bytes(150000):strip_icc()/GettyImages-2136582558-a29c8f75aa0e4ba79c57dba2718d542b.jpg)
Avian influenza, or bird flu, is wreaking havoc on the nation's chicken flocks—and egg prices for U.S. consumers.
Egg prices have surged since late spring, rising amid a surge in avian influenza in the nation's commercial poultry flocks. (There was a similar outbreak in late 2022.) The U.S. Department of Agriculture (USDA) in July estimated that avian flu had sickened over 3 million birds, or roughly about 1% of the nation's supply of egg-laying chickens.
The average wholesale price of a dozen large Grade A eggs has more than doubled in the past four months, climbing to $4.44 last week from $2.11 in early May. In just the past month, wholesale prices have risen 40%. Retail prices have followed, with the same size and grade averaging $3.20 per dozen in August, according to the Bureau of Labor Statistics.
One supermarket chain in the Midwest, which typically has lower retail egg prices than others because of its proximity to many large producers, sold a dozen large Grade A eggs for $3.99 Friday morning—25% more than August's national average retail price.
The wholesale price surge suggests retail prices will likely rise further when the Bureau of Labor Statistics reports September price data next month.
Consumers endured a similar avian-induced market surge in late 2022 and early 2023, when average retail prices reached an all-time high of $4.82 per dozen. However, they fell about as quickly as they rose, plunging to more normal levels near $2 per dozen by mid-2023.
Producers whose flocks contract avian flu must quickly quarantine and euthanize them. They then must pass USDA testing and inspection to ensure no traces of the disease remain at their facilities. The USDA found no U.S. commercial flocks with bird flu in August, which may indicate progress on controlling the spread of avian flu. If that is the case, prices may return to normal relatively quickly.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Instablog9ja
3 hrs
12
A man has explained why he choosed to date within his IQ range after a conversation with a lady.
The man was appreciating his girl for a favour but she told him not to mention, instead of just saying you are welcome. So he was like do not mention what?
Instablog9ja
4 hrs
12
Businesswoman Sophia Momodu has responded to accusations of faking her lifestyle.
She said if she post her recent ‘doings’ you all will say it’s AI.
Click to watch
Healthwatch 6 hrs 19
Source: Harvard Health Publishing
