On Wednesday, shares of Moderna Inc (MRNA) dropped by -6.92 percent to $137.03 as the stock remained under close watch by investors until its coronavirus vaccine candidate is approved by the FDA, which will meet on Thursday.
Other vaccine maker, Pfizer Inc (PFE) fell -2.25% to $37.84 while BioNTech SE (BNTX) lost -4.87% to conclude the session at $105.78. The U.S. biotech firm will then discuss with the government to help the pharmaceutical giant manufacture tens of millions of additional doses of the Covid-19 vaccine. That’s at least what the New York Times says, citing individuals who are familiar with the situation. Its power may be used by the Trump administration to increase the availability of raw materials. For the first half of next year, the aim is to enable Pfizer to produce tens of millions more doses.
Uber Technologies Inc (UBER) plummeted -1.00 percent to $50.49 on the day. The ride hailing firm was fined by California for $59 million. The LA Times reported that a judge from the California Public Utilities Commission gave the tech giant 30 days to pay the fine and provide anonymous details on sexual misconduct cases by consumers and drivers in the state of California between 2017 and 2019, or the license of the company could be revoked.
Aphria Inc (APHA) was down -0.86 percent to $8.05 while Tilray Inc (TLRY) rose 18.55 percent to $9.33. According to Bloomberg, Canadian cannabis producer will buy rival Tilray as part of an equity deal, offering a 23 percent premium. The size of the combined company will be about $4 billion. It will be 62 percent owned by the existing shareholders of Aphria and will be listed under the Tilray ticker on the Nasdaq. Irwin Simon, Aphria’s CEO, will become the new group’s CEO. Such a merger will result in creation of a global leader in the relevant market.
Alphabet Inc (GOOGL) on Wednesday was down by -0.22 percent to end the trading at $1757.19. On Thursday, antitrust action by a coalition of states against Google is planned. Politico noted, citing people close to the matter, that by modifying the configuration of its search engine, Google is accused of disadvantageous rivalry. The action is due in Washington DC federal court, which is already hearing the antitrust action, brought in October by the Justice Department and focused on the company’s exclusive contracts with Android device manufacturers that make Google the default search engine.