Julie Morgan

Go out and make it a great day.

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to have you here on this Wednesday, February 11th.

I'm Julie Morgan.

Beta Technologies is up nearly 19% pre-market following a regulatory filing showing that Amazon.com has taken a 5.3% stake in the electric aviation firm.

According to a Schedule 13G filed with the Securities and Exchange Commission, Amazon beneficially owns more than 11 million shares of Beta Technologies' Class A common stock and has sold voting and investment power regarding the shares,

held by Envy Holdings.

Moderna said Tuesday that the FDA will not review its application for its experimental flu vaccine, called mRNA-1010.

Instead, the agency issued what's known as a refusal to file letter.

Moderna is down 9% in pre-market action.

In a letter dated February 3rd, the FDA told the biotech company that the application did not include what it considers an adequate and well-controlled trial.

Specifically, the agency said the study's comparison group did not reflect the best available standard of care in the U.S.

at the time the trial was conducted.

Moderna said the FDA did not raise any specific concerns about the vaccine's safety or effectiveness.

The company also said the decision was inconsistent with earlier written feedback it had received from the agency.

Moderna has requested a meeting with the FDA officials to clarify its next steps.

Despite the setback, Moderna said it does not expect the decision to affect its 2026 financial guidance.

Estee Lauder is suing Walmart for selling counterfeit versions of its licensed products.

The cosmetics company claims third parties on Walmart's website were selling counterfeit versions of La Mer, Clinique, Aveda, and Tom Ford products.

And although Walmart did not sell the products directly, Estee Lauder's lawsuit accuses the company of facilitating these sales.