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Moderna Shares Off on Report Coronavirus Trial Delayed

Moderna MRNA shares were lower after a news report said the biotech was delaying the start of a Phase III trial of its experimental coronavirus vaccine Shares of the Cambridge, Mass., company at last check were down 5.4% to $58.25. The healthcare website Stat News said Moderna was making changes to the trial plan, or protocol, which has pushed back the expected start date of the Phase III study, according to investigators who spoke on condition of anonymity. Investigators at the University of Illinois at Chicago had…

Amazon Prime Day Reportedly Delayed Until October

Amazon's annual Prime Day sales bonanza may be further delayed because of COVID-19 concerns, says a new report. The sales event usually takes place in July, but concerns about supply chain disruptions and managing excess inventory of Amazon devices delayed the event, according to reports from earlier this spring. Now, the Prime Day might be pushed off until October amid a new wave of COVID-19 cases. Citing an email to Amazon sellers, Business Insider reported that Amazon is placing a "placeholder date" of Oct. 5 on…

Pfizer Shares Surge After Positive Results From Early Coronavirus Vaccine Study

Pfizer Inc. shares surged Wednesday after the drugmaker posted preliminary results of its coronavirus vaccine study  that it said triggered a 'strong immune response' in human trials. Pfizer, as well as its partnering firm, Germany-based BioNTech Inc., now plan to test the most promising of its four vaccine candidates on up to 30,000 participants in trials set for the United States and Europe. No serious adverse effects were reported in the study, Pfizer said, which included testing of two BNT1162b1 doses on 24…

Nasdaq at Record Close – Pfizer Vaccine Report Lifts S&P 500

Stocks finished mixed Wednesday after Pfizer and partner BioNTech released a study of an experimental coronavirus vaccine that showed a "strong immune response" in human trials, and U.S. manufacturing data was better than expected. The Nasdaq hit a record, closing up 0.95% to 10,154, while the S&P 500 finished 0.5% higher at 3,115. The Dow Jones Industrial Average fell 77 points, or 0.3%, to 25,734. Pfizer and BioNTech said they now plan to test the most promising of their four vaccine candidates on up to 30,000…

Dow Closes 200 Higher on Last Trading Day of Second Quarter

Stocks came on strong late on the final day of the second quarter, finishing higher and posting their best quarterly results in decades. The Dow Jones Industrial Average finished up 217 points, or 0.85%, to 25,812, the S&P 500 gained 1.54% and the Nasdaq was ahead by 1.87%. The DJIA saw its biggest one-quarter gain, almost 18%, since 1987 and the S&P 500 had its best quarter, up 20%, since 1998. The Dow industrials were up 1.7% for June. The S&P 500 and Nasdaq Composite were up 1.8% and 6%, respectively,…

Inovio Pharmaceuticals Vaccine ‘Deemed Safe’ in Phase I Test

Inovio Pharmaceuticals said Tuesday that INO-4800, its experimental coronavirus vaccine, was "deemed safe and well-tolerated" in all 40 of the participants in a Phase I clinical trial. The Phase I trial of INO-4800 enrolled 40 healthy adult volunteers 18 to 50 years of age at two U.S. sites with funding from the Coalition for Epidemic Preparedness Innovations. Inovio said 94% of Phase I trial participants demonstrated overall immune responses "at Week 6 after two doses of INO-4800. Through Week 8, the company said…

Exxon Mobil Plans Job Cuts After Performance Evaluations

Exxon Mobil is reportedly getting ready to cut jobs in the U.S. as the oil giant focuses on a leaner and more efficient organizational structure. Shares of the Irving, Texas, company at last check were down 3.5% to $43.60. Between 5% and 10% of U.S.-based employees who are subject to performance evaluations could end up leaving this year after their assessments, Bloomberg reported. The cuts are expected to be performance-based and not characterized as layoffs. Not all workers are subject to such evaluations, which…

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