Day: May 29, 2020

Moderna Stabilizes in Premarket, Lowe’s Soars on Strong Q1

By Geoffrey Smith 

Investing.com — Stocks in focus in premarket trade on Wednesday. Please refresh for updates.

Moderna (NASDAQ:MRNA) stock was down 0.7%, paring earlier losses, after the healthcare news site Stat warned that the company still needs to provide much more data before it can be confident that its experimental Covid-19 drug will work. Moderna placed nearly $1.4 billion in new stock at $76 apiece on Tuesday, with underwriter Morgan Stanley (NYSE:MS) also having a $200 million greenshoe option. Lowe’s Companies (NYSE:LOW) stock rose 5.7% after its quarterly numbers showed U.S. consumers leaning heavily on the home improvement store during lockdowns.  Earnings per share were nearly one-third above consensus at Enforced leisure time at home appears to have called the bluff of husbands who have been swearing for years that they’ll “get around to doing that some day soon.” Target (NYSE:TGT) stock rose 1.4% after it, too, reported strong

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