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Chris La - Monday, February 12, 2024
Market Movers: Applied, First Solar, Moderna, and More
After closing at a 52-week high last week, Applied Materials (AMAT) is the semiconductor stock to watch. Last Friday, U.S. President Biden's administration announced a $5 billion semiconductor research consortium.
Intel (INTC), Qualcomm (QCOM), AMD (AMD), and KLA Corp (KLAC) are among the tech stocks that will trade at high volume today.
First Solar (FSLR) may break out of the $151.50 holding pattern price today. Bank of America assigned a price objective of $272 in its Strategy Snipper report. Last month, First Solar acquired a 1.2 million square foot facility in Ohio. It will have 6 gigawatts in manufacturing capacity.
In the drug sector, healthcare investors are fleeing from Moderna (MRNA). The stock failed to hold the $100 level and broke down to $87.41 last Friday. Disappointingly, the firm announced the efficacy of its RSV vaccine. In the Phase 3 trial. Moderna supported the data by arguing the difficulty of comparing the vaccine at different time points. The firm wants regulators to approve the vaccine in the first half of 2024.
Expedia (EXPE) plunged by nearly one-fifth (-17.78%) last Friday. In Q4, revenue grew by 10.3% Y/Y. However, the firm changed its CEO, causing uncertainties to send EXPE stock lower. Investors may bet that the travel industry is on a long-term uptrend. The new generation may choose traveling over saving for a mortgage.
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