Budrul Chukrut | Lightrocket | Getty Images Vaccine maker Novavax on Wednesday reported fourth-quarter revenue and earnings that missed Wall Street’s estimates and reiterated plans to cut costs as it fights to stay afloat. Still, Novavax narrowed its losses in the quarter from the same period a year ago, even as demand for the biotech … Read more
Cr | Istock | Getty Images Shares of Viking Therapeutics soared more than 80% in premarket trading Tuesday after the company’s experimental weight loss drug showed promising initial results in a mid-stage trial. Viking Therapeutics is one of several small obesity drugmakers hoping to enter the budding weight loss drug industry, which analysts say could … Read more
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022. Al Drago | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support interest rate cuts. … Read more
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. Patrick Van Katwijk | Getty Images Novavax on Thursday said it will settle a bitter arbitration dispute with Gavi, a nongovernmental global vaccine organization, over a … Read more
Nikos Pekiaridis | Nurphoto | Getty Images Moderna on Thursday posted a surprise quarterly profit, in part boosted by deferred revenue, even as the company saw slumping sales from its Covid vaccine, its only marketable product. The results cap a rocky year for the biotech company and other Covid vaccine makers, which all saw revenue plunge … Read more
U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on Dec. 13, 2023. Liu Jie | Xinhua News Agency | Getty Images WASHINGTON â Federal Reserve officials indicated at their last meeting that they were in no hurry to cut interest rates and expressed both optimism and caution … Read more
Igor Golovniov | Lightrocket | Getty Images A co-founder of telecommunications company Crown Castle has nominated a rival slate of directors to the firm’s board, muddying the waters months after activist investor Elliott Management and Crown Castle signed a cooperation agreement. Ted Miller, who helped launch the company in 1994, along with his investment vehicle … Read more
Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021. Dado Ruvic | Reuters AbbVie on Tuesday said longtime executive Robert Michael will become the company’s new CEO, replacing Richard Gonzalez. Michael, who is AbbVie’s president and chief operating officer, will become the company’s second-ever CEO … Read more
Customers visit Macy’s Herald Square store on December 17, 2023 in New York City. Kena Betancur | Corbis News | Getty Images Investment firm Arkhouse Management has launched a proxy fight at Macy’s, nominating a slate of nine directors for election to the department store’s board. Macy’s on Tuesday confirmed that it had received notice … Read more
Customers shop at a Costco Wholesale store on December 15, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Wholesale prices rose more than expected in January, further complicating the inflation picture, according to a Labor Department report Friday. The producer price index, a measure of prices received by producers of … Read more
