Moderna revised its 2025 revenue outlook, lowering the high end due to a delay in vaccine shipments to the U.K. Despite this, the company beat Wall Street’s expectations for the second quarter by cutting costs. Moderna now expects full-year revenue between $1.5 billion and $2.2 billion, down $300 million at the top end. Shares fell over 6% in premarket trading.

The biotech company announced plans to slash 10% of its workforce as it deals with falling Covid vaccine sales. Moderna’s second-quarter revenue dipped 41% to $142 million, with the majority coming from Covid shots. The company posted a net loss of $825 million in the quarter, but beat analyst estimates due to cost-cutting efforts, which reduced operating expenses by 27%.

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1. Tesla’s stock surges over 10% after announcing plans to split its shares in a 5-for-1 move. The electric car company’s stock has seen a 228% increase year-to-date, making it one of the best performing stocks in the market.

2. Apple becomes the first US company to reach a $2 trillion market capitalization, hitting the milestone just two years after reaching the $1 trillion mark. The tech giant’s stock has surged over 55% this year, driven by strong sales of its products and services.

3. The US economy added 1.8 million jobs in July, marking a slowdown in the pace of job growth compared to previous months. The unemployment rate fell to 10.2%, down from 11.1% in June, as businesses continue to rehire workers following the pandemic-induced shutdowns.: Moderna (MRNA) Q2 2025 earnings