10 things before the opening bell
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Welcome to 10 Things Before the Opening Bell.
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1. Moderna is falling behind in the vaccine race. The drugmaker plunged as much as 20% on Thursday after cutting its 2021 vaccine-sales forecast and badly missing analyst estimates for sales and profit.
While Moderna said vaccine sales will now land between $15 billion and $18 billion - well short of the previously stated $20 billion - competitor Pfizer has been going in the opposite direction. Earlier this week it actually raised its 2021 forecast to $36 billion.
It was the latest entry to a rocky week for Moderna, whose stock had already fallen as much as 7% on Monday after failing to secure authorization for teenagers.
And while Pfizer and its partner BioNTech normally get a boost from Moderna's stumbles, both of their stocks were down significantly on Thursday as well, shedding nearly $30 billion in market value at one point. Those losses show that while the vaccine race is still very much a competition, the disappointments of one firm can reverberate through the entire market.
2. Global stocks are taking a breather ahead of the key US monthly jobs update. It's been a record-breaking week for stocks, and the S&P 500 notched its 63rd record close of 2021 yesterday. Here are the latest market moves.
3. Daniel Chan earned $343,000 while trading stocks over 5 years. But investing isn't his full-time gig - he's actually a professional magician. He shared with us his winning strategy, and the lessons he learned after a mistimed trade cost him millions.
4. On the docket : Berkshire Hathaway, Enbridge, and Honda , all reporting.
5. Penn National stock plummeted after an earnings miss and allegations against Barstool Sports founder Dave Portnoy. An Insider report of women's accusations of sexual misconduct added to the casino and racetrack owner's slide to its lowest level in a year.
6. The incoming New York mayor wants to be paid in bitcoin. Mayor-elect Eric Adams announced he wants his first three paychecks in bitcoin. It's part of his plan to make New York City the "center of the cryptocurrency industry."
7. These 10 cities have seen the hottest crypto-hiring market in 2021. San Francisco, Austin, New York top the list, but there are a few surprises. See the full list.
8. University of Kentucky basketball players can now mint their own NFTs. A new agreement will make them brand ambassadors for Sam Bankman-Fried's FTX. They'll also get monthly stipends paid out on FTX debt cards.
9. Two experts told us is why shiba inu's rise is a good thing for the crypto industry. "We live in a meme economy," said one crypto investor. They also shared how bitcoin can hit $100,000 as ether climbs to $8,000.
10. Meet the 26-year-old who came to own 89 rental properties in just 6 years. Antoine Martel's success helped the rest of his family quit their 9-to-5 jobs. He details his full strategy here.
Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.
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from Business Insider https://ift.tt/3k5Hjek
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