• Moderna's Stock Soars on Positive Melanoma Treatment Data

Moderna's shares surged over 13% following the release of follow-up data from a phase 2b study of mRNA-4157, a cancer vaccine being developed in partnership with Merck. The study showed that the combination of mRNA-4157 with Merck's Keytruda continued to demonstrate a significant improvement in recurrence-free survival for patients with high-risk melanoma. The combination reduced the risk of recurrence or death by 49% compared to Keytruda alone, bolstering investor confidence in the potential of the treatment.

    • TopBuild Upgraded by JPMorgan

    TopBuild's stock appreciated by approximately10% after JPMorgan upgraded the company to Overweight from Neutral and raised the price target to $387 from $312. This upgrade reflects a positive outlook on TopBuild's performance and potential growth, encouraging investors to increase their stake in the company.

    • Enphase Energy Expands Virtual Power Plant Support

    Enphase Energy's stock jumped 14% %after the company announced an expansion of support for virtual power plants in the US. This expansion, backed by new IQ batteries, allows consumers to participate in grid-services programs, potentially earning money from utility companies. The slight decline in stock price may reflect market fluctuations or investor concerns about the scalability and adoption rate of these programs.


    • Northrop Grumman Downgraded by Wolfe Research

    Northrop Grumman's shares experienced a 3.8% dip after Wolfe Research downgraded the company to Underperform from Peer Perform with a price target of $450. This downgrade suggests a cautious stance on the company's future performance relative to its peers, prompting some investors to reevaluate their positions.

    • Adobe Faces Challenges Despite Revenue Growth

    Adobe's shares fell by 5.4% after the company issued fiscal 2024 revenue guidance that fell short of analysts' expectations. Despite reporting higher revenue and earnings for the fourth quarter, Adobe's forecast for the fiscal first quarter of 2024 also came in below consensus, contributing to the stock's decline.