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    MRNA   US60770K1079

MODERNA, INC.

(MRNA)
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TSX falls by most in 13 months as hawkish Fed, new variant weigh

11/30/2021 | 04:32pm EST

(Add details throughout; updates prices to close)

* TSX ends down 489.01 points, or 2.3%, at 20,659.99

* U.S. oil prices settle 5.4% lower

* Energy declines 2.9%; financials end 2.8% lower

* Toronto market loses 1.8% in November

TORONTO, Nov 30 (Reuters) - Canada's main stock index on Tuesday tumbled to its lowest level in nearly seven weeks, pressured by hawkish comments from Federal Reserve Chair Jerome Powell and worries that existing vaccines may not hold up against the COVID-19 Omicron variant.

The Toronto Stock Exchange's S&P/TSX composite index ended down 489.01 points, or 2.3%, at 20,659.99, its biggest decline since October 2020 and its lowest closing level since Oct. 13. For the month, it lost 1.8%.

"Canada is basically getting caught up in a general pullback in equity markets around the world," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Wall Street's main indexes fell after Powell signaled that the U.S. central bank would consider speeding up its withdrawal of bond purchases as inflation risks increase, piling pressure onto a market already nervous about the variant.

The CEO of drugmaker Moderna warned that COVID-19 vaccines are unlikely to be as effective against the variant.

U.S. crude oil futures settled 5.4% lower at $66.18 a barrel, while the TSX's energy sector lost 2.9%.

The heavily weighted financials group ended 2.8% lower even as Bank of Nova Scotia kicked off Canadian banks' fourth-quarter results reporting with better-than-expected profits driven by lower provisions.

Technology declined 2.1% and industrials were down 2.2%.

Domestic economic data was encouraging, showing the economy growing an annualized rate of 5.4% in the third quarter, but gained little traction with stock market investors.

"Q3 is quite a ways back in the rearview mirror ... the market is focusing on other things now," Cieszynski said. (Reporting by Fergal Smith; Additional reporting by Susan Mathew and Anisha Sircar in Bengaluru; Editing by Sandra Maler)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MODERNA, INC. -4.45% 160.07 Delayed Quote.-34.04%
S&P 500 -1.89% 4397.94 Delayed Quote.-5.95%
All news about MODERNA, INC.
04:17pModerna's Valuation Has Come 'Back to Earth,' Become More Reasonable, BofA Securities S..
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03:37pBoosters provide 'added protection' against Omicron -CDC
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03:30pSmall children getting less sick from Omicron; Genetic mutation protects against severe..
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02:56pBooster shots needed against omicron, CDC studies show
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02:36pU.S. studies highlight the need for COVID boosters to fight Omicron
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01:21pCDC : Vaccines less effective against Omicron, but still reduce risk for serious illness
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12:21pUBS Initiates Coverage on Moderna With Neutral Rating, $221 Price Target
MT
09:29aBofA Securities Upgrades Moderna to Neutral From Underperform, Adjusts Price Target to ..
MT
01/20Moderna says aims to name 'country of choice' for COVID vaccine production in Africa so..
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01/20EMA Says Spikevax Product Information To Be Updated To Include Paraesthesia As Rare Sid..
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More news
Analyst Recommendations on MODERNA, INC.
More recommendations
Financials (USD)
Sales 2021 17 563 M - -
Net income 2021 11 122 M - -
Net cash 2021 9 774 M - -
P/E ratio 2021 6,05x
Yield 2021 -
Capitalization 64 900 M 64 900 M -
EV / Sales 2021 3,14x
EV / Sales 2022 2,05x
Nbr of Employees 1 300
Free-Float 90,5%
Chart MODERNA, INC.
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Moderna, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends MODERNA, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 160,07 $
Average target price 276,00 $
Spread / Average Target 72,4%
EPS Revisions
Managers and Directors
Stéphane Bancel Chief Executive Officer & Director
Stephen Hoge President
David W. Meline Chief Financial Officer
Noubar B. Afeyan Chairman
Juan Andres Chief Technical Operations & Quality Officer
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