Closing Bell: Moderna Gains, Dick's Sporting Goods Falls, Target Declines

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostic, Emily Graffeo, Norah Mulinda, Tim Stenovec

- Moderna (MRNA) shares are up after Wolfe Research upgraded the stock to Peer Perform from Underperform without a price target. Shares surged nearly 180% to $174.38 on Aug. 19, after a late-stage trial showed a treatment combining Moderna and Merck's experimental vaccine, intismeran autogene, and Merck's Keytruda was more effective at preventing skin cancer recurrence than Keytruda alone.

- Dick's Sporting Goods (DKS) shares fell after reporting second-quarter earnings, with earnings per share, revenue, and same-store sales below expectations. The company's Foot Locker division was described as an "albatross" due to structural issues, including over-dependence on a single struggling vendor and aged mall-based real estate.

- Target (TGT) shares fell on Tuesday following criticism over a Halloween costume that sparked an apology from the company. The company removed a Halloween clown costume that critics said evoked blackface imagery, with the Chief Merchandising Officer apologizing to employees and vowing to learn from the mistake. The incident is a setback for Target, which had advanced its stock and improved results under new CEO Michael Fiddelke, and is not the company's first controversy over its products.

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