News of The Markets

Moderna CEO Stéphane Bancel calls the company’s cancer vaccine study with Merck a “landmark,” pointing to a 42% improvement compared with Keytruda alone. Bancel says Moderna is now focused on filing the drug with the FDA and believes it could be approved next year bloom.bg/4zasxXT

$GEV | Bernstein SocGen Group 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗢𝘂𝘁𝗽𝗲𝗿𝗳𝗼𝗿𝗺 on 𝗚𝗘 𝗩𝗲𝗿𝗻𝗼𝘃𝗮, PT $𝟭𝟮𝟵𝟴 Analyst sees a positive print, with debate shifting to future margin uplift and the sustainability of exceptional cash generation.

$MRNA | Piper Sandler 𝗺𝗮𝗶𝗻𝘁𝗮𝗶𝗻𝘀 𝗢𝘃𝗲𝗿𝘄𝗲𝗶𝗴𝗵𝘁 on 𝗠𝗼𝗱𝗲𝗿𝗻𝗮, raises PT to $𝟮𝟯𝟬 from $𝟭𝟲𝟳

$LITE | Mizuho 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗢𝘂𝘁𝗽𝗲𝗿𝗳𝗼𝗿𝗺 on 𝗟𝘂𝗺𝗲𝗻𝘁𝘂𝗺 𝗛𝗼𝗹𝗱𝗶𝗻𝗴𝘀, PT $𝟭𝟭𝟰𝟬 Analyst sees Lumentum’s laser and OCS moat positioning it as a key enabler of the AI interconnect transition.

A combination of $MRVL and $LITE could generate over $45B in annual revenue by 2029 which would make it one of largest AI networking suppliers outside $NVDA and $AVGO. Pretty interesting considering Lumentum is actually expected to grow faster than Marvell while bringing custom AI chips and optical interconnects under one roof.

GE Vernova $GEV forms a Death Cross ☠️ for the first time in its history 🚨

$MU and $SKHY will also be running at max capacity.

$2M+ of $MRNA calls that expire NEXT WEEK 250 strike and stock is trading at 217 Volume 5,968 - Open interest 551 (BTO)

Mizuho on $MRVL / $LITE: "ahead of significant industry optical transition a ~38% premium could potentially imply upside to as much as $1,260+ given LITE's closing price of $913.95."

$2M+ of $MRNA calls that expire NEXT WEEK 250 strike and stock is trading at 217 Volume 5,968 - Open interest 551 (BTO)

GE VERNOVA $GEV Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $12.6B (Est. $11.99B) 🟢; +27% YoY 🔹 Organic Revenue Growth: +18% YoY 🔹 EPS: $4.81 🔹 Orders: $29.3B; +96% organically 🔹 Backlog: $197B Raises FY26 Guide: 🔹 Revenue: $46.5B-$47.5B (Est. $46.24B) 🟢; from $45.5B-$46.5B 🔹 Adj. EBITDA Margin: 13.5%-14.5%; from 12%-14% 🔹 Free Cash Flow: $16B-$17B; from $11.5B-$12.5B Segment Revenue: 🔹 Power: $6.1B; +25% YoY 🔹 Electrification: $3.9B; +51% YoY 🔹 Wind: $2.7B; +4% YoY Announcements: 🔹 Trench Group Acquisition: $9.0B; close expected late 2027 🔹 Buyback Authorization: $20B; from $10B Other Q3 Metrics: 🔹 Adj. EBITDA: $1.9B; 15.4% margin 🔹 Free Cash Flow: $5.4B 🔹 Gas Backlog & Reservations: 122 GW; at least 130 GW expected by year-end 2026 Capital Return: 🔹 Buybacks: 1.7M shares for $1.6B 🔹 Dividend: $0.50/share Comments: 🔸 “We now expect our backlog to exceed $200 billion in the fourth quarter, with improved margins, and to exit 2026 with at least 130 GW of gas equipment under contract.” 🔸 “Based on our strong financial performance, we are raising our guidance for 2026 revenue, adjusted EBITDA margin, and free cash flow.”

$MDT Medtronics trying to break out of a base

$RKLB Rocket Lab just keeps executing. In 1H 2026, Electron made more money per launch than ever. The average selling price of an Electron launch is up 22.7% YoY, from $7.5M to $9.2M, while the cost per launch has fallen 7.5%, from $5.3M to $4.9M. Bullish.

$SKHY (Bloomberg) -- SK Hynix Inc. posted a stronger-than-expected seven-fold surge in quarterly profit and unveiled an additional shareholder return program for 2026 worth 100 trillion won ($75 billion), underscoring relentless demand for AI hardware.  The world’s second-biggest memory chipmaker reported operating profit of 83.3 trillion won in the September quarter, beating analysts’ average projection for 77.5 trillion won. Revenue climbed to 104.6 trillion won, against the average estimate of 99 trillion won. The result bolsters hopes for sustained profit from the surge in demand for memory from artificial intelligence developers building data centers. That’s come in for increasing scrutiny in recent weeks with challenges in financing and setting up ambitious infrastructure projects. SK Hynix has emerged as one of the biggest beneficiaries of the AI frenzy, supplying high-bandwidth memory to Nvidia Corp. while capitalizing on soaring prices of conventional memory chips. Its operating margins remain at historically elevated levels, reflecting tight supply. On Wednesday, the company said it expects memory supply shortages to last through 2030. The additional shareholder payouts could provide another catalyst for the stock price after the chipmaker abandoned a potential US listing of its Solidigm unit amid shareholder opposition and regulatory scrutiny. Solidigm is in talks with the US Commerce Department to invest $45 billion in a new chip plant on American soil, Bloomberg News reported. Memory now constitutes roughly a third of all expenses related to AI data centers, according to research by Macquarie, and SK Hynix plays a key role in that business with its close collaboration with Nvidia. That share of overall computing-hardware spending is expected to rise in the coming years as HBM prices are set to more than double in 2027, Macquarie said.  Read More: Memory Titans Test AI Demand While Bubble Fears Transfix Markets SK Hynix has prioritized long-term contracts with customers including Nvidia. Like competitors Samsung Electronics Co. and Micron Technology Inc., it’s shifted production in recent years toward HBM, tightening supply of conventional memory. “While HBM is seeing a price appreciation, the sharp surge in earnings is attributed to the rapid price hikes in conventional DRAM and NAND,” said MS Hwang, director at Counterpoint Research. “Quarterly earnings have not yet reached their peak and the upward trajectory will likely sustain at least through 2027.”

So there was an update $RKLB

$HSBC sets $INTC price target at $200 NFA