Accenture Gains, Synopsys Rises, Moderna Tumbles as Citi Advises Selling Following 600% Rally

On this episode of Stock Movers:

- Accenture (ACN) shares rise. Accenture reported revenue for the period came in at $18.7 billion, up 7% from the year prior, beating Bloomberg-compiled analyst estimates of $18.04 billion. The company reported $22.2 billion of new bookings, beating the roughly $20 billion analysts had estimated, and announced separate deals with Alphabet Inc.'s Google Cloud, Anthropic PBC and Amazon.com Inc.'s web services unit.
 
- Synopsys (SNPS) shares are up 9% with analysts positive on the maker of electronic design automation software in the wake of an investor day event where it gave long-term targets that are seen as strong.

- Moderna (MRNA) shares tumble. A Citigroup analyst recommended selling the stock, saying its current valuation is “unjustifiable” following an outsized rally. The analyst believes the re-rating of the stock reflects successful expansion in many tumor types and unrealistic implied sales, and that the melanoma win for the vaccine does not broadly validate the platform for other tumor types.

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