Closing Bell: Moderna Surges, Estee Lauder Soars, TJ Maxx 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 Bostick, Isabelle Lee, Carol Massar and Emily Graffeo

- Moderna (MRNA) shares surged, delivering a $5.5 billion blow to short sellers who had bet that the vaccine maker's slump would continue. The company's stock price soared 177% after it said its personalized cancer vaccine helped reduce the recurrence of melanoma in a late-stage trial. The jump generated paper losses of about $5.5 billion for short sellers, bringing mark-to-market losses to roughly $7.7 billion this year, according to data from S3 Partners LLC.

- Estée Lauder (EL) shares jumped after its results beat estimates and ended a run of three straight declines in annual revenue. The company reported revenue of $3.6 billion in its fiscal fourth quarter and adjusted earnings per share of $0.39, which topped expectations. The company reaffirmed guidance for organic net sales growth and raised guidance on its adjusted operating margin, with analysts saying a steady recovery is underway.

- TJ Maxx (TJX) shares fall 0.84% in Wednesday trading after the clothing retailer reported second-quarter comparable sales for its Marmaxx segment, which includes TJ Maxx and Marshalls, that missed the average analyst estimate.

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