Moderna's (NASDAQ: MRNA ) stock has continued to fall in 2025, despite a new vaccine approval and additional clinical readouts ahead. In January, I rated MRNA a sell, expecting the company would continue burning cash with little to show for itScientist and trader of biotech stock. Focus on trading around events such as trial results and NDA/BLA approvals. Also covering companies in industries regulated by the FDA. Articles present my opinion on stocks, but don't constitute investment advice.Analyst’s Disclo ...

Core Viewpoint - The article highlights the attractiveness of high-yield dividend stocks, particularly during market downturns, as they provide income and potential for share-price appreciation [1][2]. Group 1: United Parcel Service (UPS) - United Parcel Service (UPS) currently offers a dividend yield of 7.8%, with shares down approximately 33% year-to-date as of September 22 [4]. - The company has faced challenges post-COVID-19, including a decline in business and reduced contracts with Amazon [5]. - There are indications of a turnaround, with CEO Carol Tomé expressing confidence in strategic initiatives aimed at improving long-term financial performance [6]. Group 2: Pfizer - Pfizer has a dividend yield of 7.2% and has experienced an 8% decline in share price over the past year [7]. - The company is navigating a post-pandemic landscape with ongoing sales of its COVID-19 vaccine and treatments, while also focusing on a robust pipeline of over 50 drug programs [8]. - Despite potential risks in the U.S. healthcare environment, Pfizer's shares appear undervalued with a forward P/E ratio of 7.7, below its five-year average [8]. Group 3: Altria Group - Altria Group offers a dividend yield of 6.5%, with a total annual payout recently at $4.12 per share, up from $3 in 2018 [9]. - The company faces challenges from declining smoking rates in the U.S. but is investing in smokeless products to offset cigarette losses [9]. - Altria's shares are considered fairly valued to somewhat overvalued, with a forward P/E ratio of 11.6, slightly above its five-year average [9].

Environmental Impact on Koalas - Conjunctivitis and pink eye can cause blindness in koalas [1] - Exposure can lead to infertility, preventing koalas from breeding [1]

Core Insights - Phibro Animal Health Corporation (PAHC) experienced significant growth in its Animal Health business during the fourth quarter of fiscal 2025, driven by a recovery in Mineral Nutrition and Performance Products, although macroeconomic conditions remain a concern [1][11]. Group 1: Financial Performance - PAHC's shares have increased by 101.1% over the past year, outperforming the industry growth of 3% and the S&P 500's increase of 20.7% [2]. - The company reported a market capitalization of $1.60 billion and has consistently surpassed earnings estimates over the last four quarters, achieving an average surprise of 27.88% [2]. - The Animal Health segment saw a 53% year-over-year sales growth in Q4, with a 77% increase in medicated feed additives (MFAs) and other product sales, bolstered by the acquisition of Zoetis products and strong international demand [5][9]. Group 2: Business Segments - The Animal Health business includes key products like MFAs and nutritional specialty products, which are gaining traction in the global dairy industry [3]. - The acquisition of Zoetis added over 37 established product lines and six manufacturing sites across the U.S., Italy, and China [4]. - Nutritional specialty product net sales increased by 11%, while vaccine net sales grew by 21%, driven by poultry product growth in Latin America and increased international demand [5]. Group 3: Mineral Nutrition and Performance Products - The Mineral Nutrition segment reported a 3% increase in net sales, primarily due to higher demand for copper and trace minerals [6]. - Performance Products net sales rose by 13% year-over-year, reflecting increased demand for ingredients used in personal care products [7]. - The gross profit for Mineral Nutrition increased by $0.5 million, supported by higher average selling prices, while Performance Products gross profit rose by $0.2 million [7]. Group 4: Solvency and Economic Conditions - At the end of fiscal 2025, PAHC had $77 million in cash and only $16 million in short-term debt, indicating a strong solvency position [10]. - Macroeconomic challenges, including sanctions, supply chain disruptions, and inflationary pressures, are impacting profitability and financial performance, with a 44.5% increase in the cost of goods sold leading to a contraction in gross margin [11][12]. Group 5: Future Estimates - The Zacks Consensus Estimate for fiscal 2026 earnings per share (EPS) has increased by 6.5% to $2.45, with revenue estimates at $1.46 billion, reflecting a 12.9% rise from the previous year [13].

That is where senators grilled RFK Jr. . yesterday about the CO 19 pandemic. Our next guest is looking at the possible public health dangers ahead under Kennedy's leadership.Joining us now, director of the University of Minnesota Center for Infectious Disease Research, Dr. . Michael Osterhome. He's out with a new book, The Big One: How We Must Prepare for Future Deadly Pandemics.Dr. . Osterhome, it's great to have you back with us. You were so instrumental in guiding us through the pandemic through all thos ...

Core Insights - Novavax is an innovative biotech company focused on vaccine development, having undergone significant transformation post-pandemic to enhance its technology and create value [2][3] - The company has shifted from a single product focus during the pandemic to a more diversified approach, aiming to strengthen its financial position while exploring multiple value creation opportunities [3] Company Overview - Novavax has developed a vertically integrated structure that initially incurred high expenses but also presented substantial opportunities [3] - The leadership team has worked on reducing the expense base, improving the balance sheet, and extending the cash runway while maintaining operational capabilities [3]

Public Health Crisis - Measles cases are at their highest since the disease was declared eliminated in 2000 [1] - The resurgence is directly linked to a lack of vaccinations [1] - Measles spreads rapidly within communities, more contagious than COVID [3] Vaccination Rates and Skepticism - Vaccine skepticism, especially since the pandemic, is a major contributing factor [2] - Vaccination rates have decreased from approximately 95% before the pandemic to 93% after [2] - A 2% decrease in vaccination rates significantly increases the risk of measles outbreaks [3] Health Risks - Measles can cause both acute and long-term health issues [3] - Subacute sclerosing panencephalitis (SSPE) can occur 7-10 years later, especially in children under two, leading to debilitating neurological problems [4] - Measles can result in lifelong health consequences for those infected [4]

Healthcare Industry - RFK Jr purged the Vaccine Advisory Committee [1]

Public Health Policy - RFK Jr purges the Vaccine Advisory Committee [1]

Investment Rating - The report maintains a positive outlook on cement, copper, and incrementally positive on steel and aluminium, while holding a negative view on coal and lithium [1][9]. Core Insights - Earnings estimates for China commodities have been refreshed, reflecting mark-to-market price changes for 1H25, with target price changes ranging from -13% to +12% [1][9]. - The report highlights a positive outlook for hog pricing/margin in 2H25E due to improved supply discipline [1][9]. Summary by Sector Steel - Earnings forecasts for Baosteel and Angang have been revised up by 1-4% for 2025E, while the loss-making forecast for Maanshan has been cut by 11% [10]. - Maintain Buy on Baosteel with a new target price of Rmb8.8/sh [10]. Coal - The thermal coal market is expected to remain balanced in 2025E, with a decline in demand driven by renewable energy expansion [11]. - Earnings forecasts for Shenhua, Chinacoal, and Yankuang have been cut by 2-11% for 2025E and 10-27% for 2026-27E [12]. Cement - Unit gross profit forecasts for cement have been revised down by Rmb2-6/t for 2025E, but a positive view is maintained for 2H25E due to supply discipline [13]. - Earnings estimates for CNBM, WCC, BBMG-H/A, Conch-H/A, and CRBMT have been cut by 6% to 18% for 2025E [14]. Aluminum - Earnings estimates for Hongqiao have been revised up by 5-27% for 2025-27E, reflecting higher industry spread forecasts [17]. - Maintain Neutral on Hongqiao with a target price of HK$12.5/sh [17]. Copper - The benchmark copper price forecast has been revised to an average of US$4.20/lb in 2025E and US$4.61/lb in 2026E [18]. - Earnings estimates for CMOC-H/A, JXC-H/A, and MMG have been cut by 1-18% for 2025-26E [18]. Lithium - Earnings estimates for Ganfeng, Tianqi, and Yongxing have been cut by 3-4% for 2025E due to lower lithium prices [20]. - Yongxing's 2027E earnings have been cut by 37% based on flat lithium price forecasts [20]. Paper - Earnings forecasts for ND Paper have been revised up by 3-4%, while Sunpaper's earnings have been cut by 3% [22].