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Johnson & Johnson – Suspended its sales forecast for COVID-19 vaccine due to global supply surplus and demand uncertainty and cut its adjusted profit expectation, sending the drugmaker’s shares down. The company had earlier predicted as much as $3.5 billion in sales from the shot, which has fared poorly compared to rivals due to low demand in the United States and safety concerns. J&J now expects its full-year adjusted profit forecast to be between $10.15 and $10.35 per share, lower than the prior forecast of $10.40 to $10.60.
Twitter Inc – Active again premarket as more reports suggest private equity firms have expressed interest in participating in a potential deal for Twitter. Apollo Global is said to be one group considering ways it can provide financing to any deal and is open to working with Musk or any other bidder. Its participation would be through its credit investment platform rather than its private equity business.
Plug Power Inc – Announced an agreement with Walmart Inc. for an option to deliver up to 20 tons per day of liquid green hydrogen to power material handling lift trucks across Walmart distribution and fulfillment centers in the U.S., marking an additional step the retailer is taking to incorporate alternative zero-carbon energy sources throughout Walmart’s supply chain. This is one of the first green hydrogen supply contracts for Plug, validating the company’s multi-year investment in its green hydrogen network.
Cassava Sciences – Cassava’s Alzheimer’s disease drug, simufilam, is now under fire for irregularities in its research results, according to a report by the New York Times. NYT report says several studies related to Cassava’s drug were retracted or questioned by scientific journals, the company did not immediately respond to a Reuters request for comment. This comes after the U.S. FDA quashed a petition to halt a late-stage trial of simufilam in early February.
Tesla Inc – Holding above the $1000 level again this morning, Chinese local state media is reporting the company’s Shanghai Factory resumed production on as of the morning of the 19th after a 3 week closure for covid 19.
Zendesk – The SaaS software maker is trading higher on reports the company has hired advisory firm Quatalyst Partners to explore a potential sale.
Sharps Technology – Recent low-float IPO medical equipment maker higher on increased social media chatter. 8m Free Float.
Axsome Therapeutics – Has agreed to postmarketing requirements/commitments proposed by FDA for NDA for AXS-05 for treatment of Major Depressive Disorder.
Veru Inc – Active again premarket after a Zacks “Buy” initiation. The recent retail favorite has been cut in nearly half in three sessions.