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 After hinting at ongoing negotiations for larger vaccine deals on its earnings call, Moderna Inc (NASDAQ: MRNA) said late Tuesday that it signed an agreement with the U.S. government to supply 100 million doses of its coronavirus vaccine candidate mRNA-1273 for $1.525 billion.The Moderna Analysts: SVB Leerink analyst Mani Foroohar maintained a Market Perform rating on Moderna shares and lowered the price target from $60 to $58. Chardan analyst Geulah Livshits maintained a Buy rating and $95 price target.Morgan Stanley analyst Matthew Harrison maintained an Overweight rating and $90 price target.SVB Leerink Sees Long-Term Pricing Risk: The contract award from the U.S. government implies a price of $15.25 per dose, materially below the previously modeled $22 per dose, as well as the Pfizer Inc. (NYSE: PFE)/BioNTech SE - ADR (NASDAQ: BNTX) combine's $19.50 per-dose pricing for the government contract, Foroohar said in a Wednesday note.Moderna's contract with the U.S. government includes incentive payments for timely delivery, with some portion of the pricing at risk if the company is not able to obtain emergency use authorization or BLA approval by Jan. 31, 2021, the analyst said. An EUA by this timeframe is likely, given the flexibility of regulatory agencies with respect to SARS-CoV-2 vaccine candidates, he said. Even this assumption carries a risk if Moderna experiences a delay in clinical trial execution or reports disappointing interim data from
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 Cisco Systems Inc. reported another revenue decline and soft earnings guidance for the current quarter Wednesday afternoon, then announced that its chief financial officer will retire as shares were pummeled in after-hours trading.
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The rally in Moderna Inc. shares sparked by news late Tuesday that the U.S. government has ordered 100 million doses of its COVID-19 vaccine candidate dissipated on Wednesday, as analysts weighed in on what the order means for pricing.
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AZPN earnings call for the period ending June 30, 2020.
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Joe Biden's VP pick Kamala Harris has grown increasingly firm in her commitment to making sure that policy to slow man-made climate change emphasizes environmental justice, including scoring legislative effectiveness.
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Networking-equipment giant Cisco Systems Inc. posted its first annual revenue decline in three years and said it would pursue deep cost cuts as customer priorities have shifted during the coronavirus pandemic.
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Topic: RobocarsTags: forbesI've written a lot about the big effects robocars and other tech will have on cities, when they get here. But since you can't be sure of the date they will arrive, how does a city planner deal with making plans they know will be wrong? Here is some advice from the computer industry on how to do that.
Read Memo to city planners contemplating robocars
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 Joe Biden's pick of Sen. Kamala Harris as his vice-presidential running mate has raised interest in her positions on issues including the gender pay gap, health care, paid leave and retirement security, and the policies she would likely champion in a Democratic administration.
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 Phillips 66 said Wednesday that it will stop producing fuels from crude oil at its San Francisco Refinery in Rodeo, Calif., and that it will reconfigure the refinery to produce renewable fuels. It will start making fuels from used cooking oil, fats, greases and soybean oils. The company said it expects to produce 680 million gallons a year of renewable diesel, renewable gasoline and sustainable jet fuel. Including production from an existing project, the plant will produce more than 800 million gallons a year of renewable fuels, which would make it the world's largest renewable fuels plant. Separate, Phillips 66 said it plans to shut down its Rodeo Carbon Plant and its Santa Maria refining facility in Arroyo Grande, Calif. in 2023. The company will take associated crude oil pipelines out of service in phases, starting in 2023. The stock, which ticked up 0.1% in afternoon trading, has shed 42.4% year to date, while the SPDR Energy Select Sector ETF has lost 36.3% and the S&P 500 has gained 4.4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Chinese electric vehicle manufacturer Nio Inc - ADR (NYSE: NIO) reported Tuesday with forecast-beating second-quarter results and issued a strong third-quarter outlook. The Nio Analysts: Piper Sandler analyst Alexander Potter reiterated a Neutral rating on Nio and increased the price target from $4 to $14.BofA Securities analyst Ming Hsun Lee reiterated a Buy rating and increased the price target from $17.40 to $18.Why Nio Shares Could Trade In Line With EV Peers: Nio's narrower-than-expected second-quarter loss is due to a higher gross margin, with the vehicle margin coming in at a historical high of 9.7% and several basis points higher than the 5% guidance, Potter said in a note.More importantly, the company guided to continued gross margin expansion in the third and fourth quarters thanks to lower battery costs, the analyst said.From skepticism concerning the company's ability to remain a going concern, Nio has come a long way from skepticism over whether it could stay in business, he said. The automaker boasts unique products and has a reliance on subsidies, which are two prerequisites for success, Potter said.With Nio raising capital in two funding rounds, including a secondary offering in June, there are no longer fears that the company may go out of business, the analyst said. The stock will therefore trade more in-line with peers, and not at a substantial discount to them, he said. View more earnings on NIOThe company will slowly reduce its reliance on partners for core capabilities such as self-driving systems, batteries a
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Stock futures inch higher after S&P 500 closes just under a record CNBCS&P flirts with record as tech stocks drive coronavirus recovery Fox BusinessS&P 500, Dow snap seven-day winning streak as concern mounts over stimulus deal ReutersThree Reasons Why The Stock Market Will Break Its All-Time High ForbesDow Jones Now Up with U.S. Closer to COVID Vaccine Money Morning
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