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We are watching Rivian, Pinterest and Moderna.
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First up is Rivian. Shares are soaring after the EV maker reported better than expected fourth quarter results.
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Rivian also recorded its first ever annual gross profit after years of consistent losses.
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The company said it expects deliveries of its long awaited R2 mid-sized SUV in the second quarter.
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Investors are hoping the more affordable mid-sized vehicle could bring in a wider array of customers.
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If today’s gains hold, the stock would nearly erase its year-to-date loss of 29%.
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Next is Pinterest, the stock plunging to its lowest level since 2020.
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The social media company gave a weaker than expected first quarter forecast.
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That is prompting six analysts on Wall Street to downgrade the stock.
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The weak results come just weeks after it announced layoffs and a pivot toward artificial intelligence products.
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And Moderna, the vaccine maker out with earnings results.
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The company reported revenue for the fourth quarter that beat Wall Street’s expectations.
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Aside from the results, investors are focused on recent setbacks the company faced with the FDA.
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Remember regulators refused to review its MRNA flu vaccine.
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That was a major setback.
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On the analyst call this morning, CEO Steve Stefan Bancel said the agency has become unpredictable.
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If the FDA keeps it up, Bancel says it quote threatens US leadership in innovative medicines.
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The flu vaccine is key to the company’s forecast that it’ll break even by 2028.
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Moderna is grappling with slowing demand for its Covid vaccine.