Pfizer’s revenue forecast causes decline in vaccine stocks

  • Moderna shares down nearly 5% in premarket trading
  • Pfizer warns of falling revenue from Covid-19 products
  • BioNTech ADRs fall about 4% in premarket session
  • Novavax shares down about 1% in premarket trading
  • Pfizer’s revenue and earnings outlook for next year below expectations

Shares of Moderna and other Covid-19 vaccine makers took a hit after Pfizer issued a warning about its expected revenue from Covid-19 products next year. Moderna shares were down nearly 5% in premarket trading, following a more than 6% drop in Pfizer shares. BioNTech, Pfizer’s partner in the Covid-19 vaccine, also saw a decline of about 4% in its ADRs. Novavax shares fell about 1%. The decline in vaccine stocks was driven by Pfizer’s lower-than-expected revenue and earnings outlook for next year, which was mainly attributed to declining sales of its Covid-19 vaccine and Paxlovid treatment.

Public Companies: Moderna (MRNA), Pfizer (PFE), BioNTech (BNTX), Novavax (NVAX)
Private Companies:
Key People:

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Factuality Level: 8
Justification: The article provides factual information about the decline in shares of Moderna, BioNTech, and Novavax following Pfizer’s warning about expected revenue decline. It also mentions the reasons for Pfizer’s revenue miss, which includes declining sales of its Covid-19 vaccine and Paxlovid treatment. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It focuses on the financial impact of Pfizer’s announcement on the mentioned companies’ shares.

Noise Level: 3
Justification: The article provides relevant information about the decline in shares of Moderna and other vaccine makers due to Pfizer’s warning about falling revenue. It includes specific numbers and percentages to support the claims. However, it lacks in-depth analysis, scientific rigor, and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Moderna, BioNTech, and Novavax

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the impact of Pfizer’s revenue warning on the shares of Moderna, BioNTech, and Novavax. However, there is no mention of an extreme event.

Reported publicly: www.marketwatch.com