For over a year, Moderna (MRNA) underperformed the markets. The firm needed to pivot its revenue growth away from Covid vaccines. On Tuesday, the head and neck cancer vaccine data gave MRNA stock a boost.
In a Phase 1 study, neoantigen candidate mRNA-4157 and Keytruda showed strong data for treating HPV-negative head and neck cancer. MRNA has strong prospects from here, while BioNTech (BNTX) and Novavax (NVAX) are stocks to avoid.
FMC Corp. (FMC) could break out from here. The chemical manufacturing firm will realize savings after announcing in February that it would cut 8% of its global workforce. This will cost $180 million to $215 million in charges. However, it will realize up to $50 million to $75 million in 2024’s adjusted EBITDA. Annual savings will top $150 million by the end of 2025.
Enphase (ENPH) added 5.85% on Tuesday. A U.S. trade probe against China would help Enphase expand margins.
Hartford Financial (HIG) is this week’s loser. The stock pulled back on no news. Traders may take advantage of the drop to hold this well-run firm.
In the travel sector, Royal Caribbean (RCL) is a potential loser. Cruise line operator Viking Holdings (VIK) filed for an IPO. This would increase competition for the cruise line sector.
