Moderna Drops, DoorDash Rises, Honeywell Plunges as Surprise Guidance Cut Alarms Wall Street

On this episode of Stock Movers:

- Moderna (MRNA) shares drop. Moderna Inc. won US regulatory approval for a flu vaccine based on mRNA technology, called mFlusiva, for adults aged 50 and over. The immunization received a traditional approval for patients between the ages of 50 and 64, and an accelerated approval for those 65 and older. A post-marketing clinical trial will be required to confirm the vaccine’s benefit in people 65 and over, and supply is expected to be available in select retailers in the coming weeks.

- DoorDash (DASH) shares rise. DoorDash issued a profit forecast that topped analysts’ expectations, citing a boom in paying subscribers who tend to order takeout and groceries more frequently than non-members. Adjusted earnings before interest, taxes, depreciation and amortization will be $950 million to $1.1 billion in the quarter ending in September, with the midpoint of that range well above the average Bloomberg-compiled analyst estimate.

- Honeywell Aerospace Inc. (HONA) shares plunged after an unexpected reduction in its outlook startled investors. Supply chain issues will keep sales growth to 4-5% this year on an organic basis, roughly half of its prior forecast. Honeywell Aerospace also now says adjusted earnings before interest and taxes may not increase at all this year on a pro forma basis; it previously saw as much as 10% growth.

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