EUR/USD 1.17506
0.354%
Gold 4427.83
2.035%
Oil 57.746
2.182%
USD/JPY 157.057
-0.398%
GBP/USD 1.34405
0.502%
GBP/JPY 211.098
0.102%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On December 22nd, Federal Reserve Governor Milan stated that with the recent adjustments to monetary policy, the necessity of his previous advocacy for a 50-basis-point rate cut has diminished. Milan pointed out that some unusual fluctuations in previous inflation data were partly related to the government shutdown. These unusual signals indicate that the Feds policy stance should be adjusted towards a more accommodative direction. He emphasized that he currently sees no risk of the economy falling into recession in the short term, but believes that the neutral interest rate level has clearly shifted downward, and monetary policy must reflect this structural change. If the policy rate fails to continue to decline to approach the new neutral level, it may actually increase the risk of an economic recession. Furthermore, regarding his own term, Milan admitted that he is still uncertain whether he will remain in office. He stated: "If no successor is confirmed by the end of January, I will assume that I will continue to serve."According to CNBC, Trian and General Catalyst will acquire asset management firm Janus Henderson for $49 per share in cash, valuing the latter at approximately $7.4 billion, a 6.5% premium over Fridays closing price.Lockheed Martin (LMT.N) is partnering with ManTech to advance AI-based support for the U.S. combat aircraft fleet.Market news: Mexican President Simbaum will launch a plan to boost public and private investment.Brazils oil regulator has approved Petrobras to start production at its P-78 floating production storage and offloading unit in the Santos Basin.

Novavax Reduces Full-Year Forecast As Vaccine Sales Decline

Aria Thomas

Aug 09, 2022 10:25

45.png


Monday night, Novavax (NASDAQ:NVAX), an American biotechnology company, reported earnings after the market closed.


The company's loss per share was $6.53, which was $12.03 worse than the average estimate of $5.50 and climbed from $4.75 in the same quarter of 2021. Vaccine sales declined, resulting in a revenue fall of $186 million year-over-year, from $298 million in the same time in 2021, and substantially below the average expectation of $1.02 billion.


The loss in revenue was attributed to a decrease in activity under the company's contracts with the U.S. government and the Coalition for Epidemic Preparedness Innovations.


"We are pleased with our achievements since the beginning of the second quarter, which include bringing our vaccine to the U.S. market and launching immunizations," said Stanley Erck, president and chief executive officer of Novavax. Since the beginning of the third quarter, we have delivered more than 23 million doses of our vaccine and have gained significant momentum for the remainder of 2022 and into 2023.


Novavax reduced their sales projection for the entire year of 2022 from $4 billion to $5 billion to $2 billion to $2.3 billion, which is also below the $4.27 billion consensus estimate.

Suggestion