Chapter 1: What stake did Amazon take in BETA Technologies and what does it mean?
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.
Chapter 2: Why did Moderna's shares drop after the FDA's decision?
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.
Chapter 3: What allegations is Estée Lauder making against Walmart?
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.
Chapter 4: How are OpenAI and Samsung expanding their operations in Korea?
And although Walmart did not sell the products directly, Estee Lauder's lawsuit accuses the company of facilitating these sales. calling Walmart's conduct extreme, outrageous, fraudulent, and harmful. The complaint further alleges that Walmart allowed Estee Lauder trademarks to be used in the search engine, enabling Walmart to profit from these sales.
According to an investigation by CNBC, Walmart did not sufficiently vet third-party sellers and the products they offered to prevent counterfeit items from being sold on its online marketplace. Estee Lauder is demanding the defendants in its lawsuit be ordered to stop selling products that bear the company's trademarks, monetary damages, and compensation for legal fees.
It's that time to tell you about a few other articles that are trending.
Chapter 5: What is the significance of FedEx's upcoming Investor Day event?
OpenAI, Samsung, and SK Telecom will reportedly start setting up data centers in Korea next month. Activist investor Ancora is set to oppose the Warner Bros. deal with Netflix. And XAI loses another co-founder. Now for a check of the Catalyst watch. FedEx will hold an Investor Day event to lay out multi-year strategy and financial targets.
Chapter 6: What are the latest trends in the stock market and economic indicators?
Analysts note that the event has extra significance due to the upcoming separation of the freight business. Alimentation CouchTard will issue its 2026 Business Strategy Update. New York Fashion Week will kick off. Ralph Lauren, PVH's Calvin Klein, Coach, and Michael Kors are some brands holding events.
The incoming Citigroup CFO will present at the Bank of America Securities Financial Services Conference. And McDonald's will hold its earnings conference call post-market. Analysts will be looking to see if any sales momentum is led by pricing or traffic gains. Updates on menu innovation will also be closely watched. Yum!
Brands is the restaurant stock that correlates the tightest to McDonald's, while supplier Lamb Weston trades in tandem with McDonald's 75% of the time after earnings. On Wall Street, Dow, S&P and Nasdaq futures are in mixed territory. Crude oil is up 1.3% at $64 a barrel. Bitcoin is down 3% at $66,000. Gold is up 0.9% at $50.70. The FTSE 100 is up 0.4% and the DAX is little changed.
Mattel is on our list of the biggest movers of the day pre-market. MAT is down 31% after the company posted a Q4 earnings miss despite sales rising 7% year-over-year. And on today's economic calendar at 8.30 a.m., the employment situation. That's it for today's Wall Street Breakfast. Thanks for listening.
To take full advantage of Seeking Alpha, join the highest quality community of real investors discussing stocks and ETFs at seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.
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