Market Overview - U.S. stock futures rose on Thursday following a more than 1% gain in major indices on Wednesday after President Trump withdrew tariff threats against the EU [1] - The 10-year Treasury bond yielded 4.24%, while the two-year bond was at 3.59%, with a 95% likelihood of unchanged interest rates projected for January [2] Index Performance - Dow Jones increased by 1.21% to 49,077.23 - S&P 500 rose by 1.16% to 6,875.62 - Nasdaq Composite gained 1.18% to 23,224.82 - Russell 2000 saw a 2.00% increase to 2,698.17 [10] Stocks in Focus - Intel Corp. (NASDAQ: INTC) was up 1.60% in premarket trading, projected to post quarterly earnings of 8 cents per share on revenue of $13.38 billion [7] - Microsoft Corp. (NASDAQ: MSFT) rose 1.06% after announcing a multiyear partnership with Mercedes-AMG PETRONAS F1 Team to integrate cloud and AI technologies [7] - Moderna Inc. (NASDAQ: MRNA) jumped 5.64% following positive updates on a cancer therapy study in collaboration with Merck & Co. Inc. [7] - The Metals Company Inc. (NASDAQ: TMC) gained 5.51% after a new rule by NOAA modernized regulations for deep-seabed mining permits [16] - Micron Technology Inc. (NASDAQ: MU) increased by 2.73% as CEO highlighted a memory chip shortage due to rising AI demand [16] Analyst Insights - BlackRock maintains a "pro-risk" investment stance for early 2026, driven by AI's transformative power and a supportive macroeconomic backdrop [11] - They expect the Federal Reserve to continue cutting interest rates, supported by a softening labor market and declining inflation [11] - BlackRock prefers equities over government bonds, keeping an underweight position on long-term U.S. Treasuries due to fiscal sustainability concerns [13]

莫德纳(MRNA.US)盘前续涨5.6%，报52.6美元，该股昨日大幅收涨近16%。消息面上，近日，默沙东与 莫德纳联合披露mRNA肿瘤疫苗mRNA-4157联合K药的二期临床五年随访数据，显示联合疗法较 Keytruda单药治疗将高危III/IV期黑色素瘤患者复发或死亡风险显著降低49%，且疗效持久，有力支持了 mRNA肿瘤疫苗诱导持久免疫应答的科学假设。(格隆汇) ...

Market Overview - The stock market experienced a significant rally due to positive developments in international trade, particularly the suspension of planned tariffs on EU countries by President Trump [1] - Major U.S. stock indexes saw notable gains, with the Dow Jones Industrial Average increasing by 1.2% to 49,077.23, the S&P 500 rising by 1.16% to 6,875.62, and the Nasdaq adding 1.18% to 23,224.82 [1] Company Highlights - **Intel Corporation (NASDAQ:INTC)**: - Intel's stock rose by 11.72% to close at $54.25, nearing its 52-week high of $54.41, with an after-hours gain of 1.2% to $54.92 [2] - Anticipation builds for Intel's fourth-quarter earnings report, expected to show earnings per share of 8 cents and revenue of $13.38 billion, following a previous quarter where revenue was $13.65 billion and earnings per share were 23 cents [3] - **Moderna Inc (NASDAQ:MRNA)**: - Moderna shares surged by 15.84% to $49.81, reaching a 52-week high of $50, with an after-hours increase of 4.4% to $52 [4] - Investor enthusiasm is driven by a recent update on a cancer therapy study in collaboration with Merck & Co, which showed significant improvements in recurrence-free survival for melanoma patients [5] - **The Metals Company Inc (NASDAQ:TMC)**: - TMC's stock climbed by 13.31% to $8.17, with an after-hours increase of 9.4% to $8.94 [6] - The company welcomed a new rule from the National Oceanic and Atmospheric Administration that modernizes regulations for deep seabed mining permits, aligning with TMC's strategy for transitioning to commercial production [7] - **Microsoft Corporation (NASDAQ:MSFT)**: - Microsoft's stock fell by 2.29% to $444.11, remaining below its 52-week high of $555.45 [8] - CEO Satya Nadella emphasized the need for artificial intelligence to deliver tangible benefits to maintain public trust, particularly in sectors like healthcare and education [8] - **Lucid Group Inc (NASDAQ:LCID)**: - Lucid's stock jumped by 17.88% to $11.47, with an expansion of its manufacturing partnership in Saudi Arabia enhancing its growth outlook [9] - The collaboration with Rockwell Automation aims to implement advanced manufacturing systems at Lucid's plant, providing real-time visibility and control over production lines [10]

Core Insights - Moderna's stock surged over 15% following the announcement of positive clinical trial results for its experimental skin cancer vaccine in collaboration with Merck [1] Group 1: Clinical Trial Results - Five-year follow-up data from a phase 2 study indicated that Moderna's mRNA-based therapy, intismeran autogene, combined with Merck's Keytruda, reduced the risk of recurrence or death by 49% compared to Keytruda alone for patients with high-risk melanoma [3] - Merck's Dr. Marjorie Green highlighted the significance of demonstrating the long-term potential of this combination therapy in reducing recurrence risk for stage III/IV melanoma patients [4] Group 2: Broader Implications and Future Trials - Intismeran autogene is designed to trigger an antitumor immune response based on the unique mutations in a patient's tumor, indicating a personalized approach to cancer treatment [4] - Moderna and Merck are conducting additional clinical trials to explore the potential of their technology for treating various tumors, including lung, kidney, and bladder cancers [5] - Moderna's Dr. Kyle Holen emphasized the company's commitment to oncology investments due to encouraging outcomes that showcase mRNA's potential in cancer care [5]

Core Insights - The collaboration between Merck and Moderna on the mRNA cancer vaccine mRNA-4157 has shown promising results, significantly reducing the risk of recurrence or death by 49% in high-risk melanoma patients when combined with the PD-1 inhibitor Keytruda [1][2] - The mRNA-4157 vaccine utilizes a personalized neoantigen therapy mechanism, which designs synthetic mRNA encoding up to 34 neoantigens based on the unique mutations in a patient's tumor DNA [2] - The market potential for mRNA cancer vaccines is substantial, with projections indicating that they could become a new class of cancer immunotherapy, combining accessibility and personalization [4] Company Developments - Moderna plans to increase investment in the oncology sector, with the Phase III clinical trial for mRNA-4157 fully enrolled and expanding its indications beyond melanoma [2] - EVM16, a personalized cancer vaccine developed by the domestic company, has entered human trials, marking a significant milestone in the application of mRNA technology combined with AI for neoantigen selection [3] - The clinical data from EVM16 is expected to be released in the next 6-12 months, with the company aiming to initiate Phase Ib studies thereafter [3] Industry Trends - The success of mRNA-4157 highlights the unmet needs in cancer treatment, with the industry recognizing the potential of mRNA cancer vaccines to address these gaps [4] - The competitive landscape for personalized cancer vaccines is evolving, with domestic companies like EVM16 accelerating their development efforts in response to the advancements made by global players [4]

Core Insights - Moderna and Merck announced that their experimental vaccine for a serious type of skin cancer, when used in combination with Keytruda, demonstrated a 49% reduction in the risk of recurrence or death in a mid-stage trial [1] Company Summary - The collaboration between Moderna and Merck focuses on developing a vaccine targeting a serious skin cancer [1] - The mid-stage trial results indicate significant efficacy, suggesting potential for further development and commercialization [1] Industry Summary - The findings contribute to the ongoing advancements in cancer immunotherapy, particularly in the context of skin cancer treatment [1] - The combination of the experimental vaccine with Keytruda highlights the trend of using combination therapies to enhance treatment outcomes in oncology [1]

Group 1 - Moderna, Inc. is a leading biotechnology company known for its mRNA technology, particularly in COVID-19 vaccine development, competing with Pfizer and BioNTech [1] - Citigroup has updated its rating for Moderna to "Neutral," indicating that investors should hold onto the stock, which is currently trading at approximately $41.84 [1][5] - The stock has seen a 6.29% increase, with a daily trading range between $40.55 and $42.30, and a market capitalization of around $16.35 billion [4][5] Group 2 - Investors often focus on stocks that are expected to exceed quarterly earnings estimates, as these can significantly influence stock prices [2] - The Zacks Earnings ESP tool is utilized to identify potential earnings surprises by analyzing recent analyst revisions, which can help investors enhance their returns [3]

Inflation and Economic Indicators - December CPI increased by 2.7% year-on-year and 0.3% month-on-month, both in line with expectations; core CPI at 2.6% year-on-year is the lowest since March 2021, better than the expected 2.7%[6] - Michigan Consumer Sentiment Index for January 2026 is at 54.0, showing a rebound for two consecutive months, indicating improved consumer satisfaction regarding inflation[6] Market Performance - S&P 500 index decreased by 0.4% for the week but is up 1.4% year-to-date; Nasdaq index fell by 0.7% weekly and is up 1.2% year-to-date; Russell 2000 index rose by 2.2% weekly and is up 7.7% year-to-date[20] - The market sentiment has shifted to a "greed" zone, with the VIX closing at 15.86, below the critical value of 20[14] Earnings Reports - In the first week of Q4 earnings, 35 S&P 500 companies reported, with 67% exceeding revenue expectations and 79% surpassing EPS expectations, overall EPS exceeded expectations by 5.8%[22] - Financial and consumer discretionary sectors saw earnings upgrades, while energy and healthcare sectors experienced significant downgrades[22] Future Outlook - Inflation is expected to continue its slow decline, with retail sales showing strength; the probability of a rate cut in January is less than 5%[22] - The market is pricing in the first rate cut of 2026 after the new Federal Reserve chair is appointed, likely in June[22] Sector Performance - Among 36 sectors, 19 showed gains, with the top five performers being Coal II (+9.1%), Defense (+5.7%), Non-ferrous Metals (+5.2%), Electrical Equipment (+4.8%), and Consumer Staples (+4.8%)[22]

Core Insights - Moderna Inc. (NASDAQ:MRNA) has seen its shares increase by 16% over the past year and 31% year-to-date, indicating strong market performance [2] - The company raised its full-year 2025 revenue guidance to $1.9 billion, nearing the high end of the previous estimate of $1.6 billion to $2 billion, during the JPMorgan Healthcare Conference [2] - Moderna also reduced its operating expenses estimate by $200 million and increased its cash balance estimate to $8.1 billion, reflecting improved financial health [2] Analyst Ratings - Jefferies maintained a Hold rating on Moderna's shares with a price target of $30, suggesting a cautious outlook [2] - RBC Capital kept a Sector Perform rating and a price target of $25, highlighting the potential of Moderna's phase three melanoma trial as a key catalyst in 2026 [2] - RBC also noted that optimistic revenue growth guidance and vaccine mandate revisions could present headwinds for the company [2] Jim Cramer's Commentary - Jim Cramer expressed hope for Moderna to achieve its revenue targets, indicating a history of disappointment regarding the company's performance over the past eight years [2][3]

Core Insights - Moderna, Inc. is a biotechnology company focused on messenger RNA therapeutics and vaccines, currently valued at $15.9 billion [1] Financial Performance - Analysts expect Moderna to report a loss of $2.79 per share for Q4 2025, a decrease of 11.6% from $2.50 per share in the same quarter last year [2] - For the full year, the expected loss per share is $7.93, which is an increase of 10.6% from $8.87 in fiscal 2024, and a further rise to $6.88 is anticipated in fiscal 2026 [3] Stock Performance - Over the past 52 weeks, Moderna's stock has increased by 13.2%, underperforming the S&P 500 Index's gains of 16.7%, but outperforming the Health Care Select Sector SPDR Fund's returns of 11.7% [4] - The underperformance is attributed to declining demand for COVID vaccines, with expectations of a revenue decrease of 20% to 40% due to lower global vaccination rates [5] Recent Developments - On November 6, 2025, Moderna's shares rose over 3% after reporting Q3 results, with a loss per share of $0.51, significantly better than the expected loss of $2.15, and revenue of $1 billion, exceeding forecasts of $860.1 million [6] Analyst Ratings - The consensus opinion on Moderna stock is cautious, with a "Hold" rating from 24 analysts; two recommend "Strong Buy," 19 suggest "Hold," one advises "Moderate Sell," and two recommend "Strong Sell" [7] - Currently, Moderna trades above its mean price target of $35.15, with a Street-high price target of $135 indicating a potential upside of 243% [7]