Stocks to Watch: Pfizer, Moderna, Lululemon Athletica
October 13 2023 - 7:17PM
Dow Jones News
By Ben Glickman
Pfizer said it would reverse $4.2 billion in revenue after
revising its agreement with the U.S. government related to its
Covid-19 treatment Paxlovid. The company agreed to take back unused
courses for the oral anti-viral pill as it seeks to roll out its
commercial version of the drug. Shares fall 3.1% to $31.10
after-hours.
Moderna, which produces Covid-19 vaccines, saw its shares slump
after Pfizer warned of lower-than-expected demand for Covid-19
vaccines and treatments. Pfizer slashed its expectations for
revenue and adjusted earnings after the market closed on Friday as
its Covid-related products saw lagging sales, a warning sign for
the results of other vaccine makers. Moderna shares fall 4% to
$94.40 after-hours.
Lululemon Athletica's stock will join the S&P 500 effective
Oct. 18. The excercise apparel company will replace Activision
Blizzard, which was acquired by Microsoft on Friday. Shares rise
4.9% to $396.13 after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 13, 2023 20:02 ET (00:02 GMT)
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