The first positive Phase 3 result for any mRNA cancer vaccine was announced this morning, and the market’s reaction told you everything about its significance. Moderna more than doubled. The S&P healthcare sector hit an all-time high.

Treasury separately announced it would ramp up bond buybacks after the 30-year yield hit its highest level since 2007. Today’s edition breaks down what happened and why it matters.

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Moderna and Merck announced Phase 3 success for Intismeran, their personalized mRNA cancer vaccine, which met its primary endpoint of extending recurrence-free survival in more than 1,100 high-risk melanoma patients compared to Keytruda alone, making it the first positive Phase 3 result for any mRNA cancer treatment and sending Moderna to its best single-day performance since 2008.

Treasury Secretary Bessent announced expanded bond repurchases to provide “liquidity support” for off-the-run Treasuries, which pulled the 30-year yield back from its 19-year high while sending gold to new highs.

Fed minutes from the July meeting showed more officials supported rate hikes than the three who formally dissented, with many participants assessing that “policy tightening would likely be necessary if inflation did not decline.”

Trump met with crypto executives at the White House and urged Congress to pass the Clarity Act, sending Bitcoin up nearly 6% and lifting crypto-adjacent names broadly.

Connection has reached HPE’s highest partner tier, gaining enhanced access to business resources, technical support and joint planning across hybrid cloud, computing, storage, networking and AI infrastructure.

The Triple Platinum Plus designation expands cooperation between the two companies as Connection sells technology and services to businesses, government agencies, healthcare organizations and education customers.

Samsara launched its new Fuel Command Center, combining fuel-spending data, routing recommendations and fuel-card controls in one platform for commercial fleet operators.

The system can identify costs from idling, inefficient fueling locations, driver behavior and fraud, while integrating with Samsara’s navigation tools and Coast fuel cards to help fleet operators lower fuel expenses.

Moderna shares more than doubled after its melanoma vaccine developed with Merck met key goals in a late-stage trial, reducing the risk of cancer recurrence and spread when combined with Merck’s Keytruda.

The result pushed Moderna to its highest level since June 2024 and lifted Merck sharply as well, while the broader Nasdaq biotech index climbed to a record as the data renewed enthusiasm around mRNA-based cancer treatments.

Twist Bioscience shares surged after the company disclosed its collaboration with Anthropic, where its laboratories helped produce and validate AI-designed protein binders created using Claude models across a broad set of biological targets.

The disclosure strengthened Twist’s position in AI-driven drug discovery, with shares climbing more than 15% and reaching a new 52-week high as demand grows for the company’s high-throughput DNA synthesis and protein development capabilities.

UBS kept Five Below at Buy with a $285 price target, arguing that improvements across stores, marketing, supply chains, and inventory management are helping create a more durable growth engine ahead of the retailer’s next quarterly report.

The firm expects Five Below to sustain higher sales volumes even as demand for some viral products cools, suggesting recent momentum is increasingly tied to broader operating improvements rather than a handful of short-lived merchandise trends.

UBS kept Bath & Body Works Neutral with a $19 price target after channel checks showed underlying sales remained pressured through July, setting up a relatively muted second-quarter report when the retailer releases results next week.

UBS expects the company to maintain its fiscal 2026 earnings guidance of $2.40 to $2.65 per share, while weak near-term sales trends continue to offset initiatives including international expansion, new products and a broader retail partnership with Ulta Beauty.

Marc Chaikin says one overlooked AI company could be hiding three separate high-growth businesses inside a single stock.

He believes those divisions could eventually be spun off, while current shareholders may also collect a dividend along the way.

Wall Street still treats it like one company. Chaikin thinks that could be a major mistake.

See the “dark horse” AI stock Chaikin says to own before September 4

Apple shares climbed after the company overhauled its European App Store terms, eliminating its per-install Core Technology Fee for developers distributing apps outside the App Store and replacing it with a 5% commission on digital transactions beginning October 1.

The changes follow discussions with European regulators and reduce uncertainty around Apple’s compliance with the Digital Markets Act. At the same time, shares gained more than 2% during morning trading as investors welcomed the softer regulatory posture.

Palantir Technologies launched its second AI Sovereignty Bootcamp, bringing together nearly 100 organizations as the software company pushes its artificial intelligence platforms deeper into commercial markets beyond its traditional government customer base.

The two bootcamps have attracted nearly 200 unique organizations in less than a month, with participants spanning healthcare, technology, finance, and consumer businesses as Palantir tries to turn rising enterprise interest in sovereign AI systems into new commercial contracts.

Instacart expanded its marketplace beyond groceries and everyday essentials by bringing Foot Locker, Kids Foot Locker and Champs Sports onto the platform, giving customers access to footwear, apparel and accessories from more than 1,000 U.S. stores with delivery in as little as an hour.

The deal lands during back-to-school shopping and broadens Instacart’s role as a general retail delivery platform, while adding three major footwear banners to a marketplace that already spans more than 2,200 retail brands.

Samsara launched its new Fuel Command Center, bringing fuel-spend tracking, routing recommendations and card controls into one dashboard for commercial fleet operators as volatile diesel and gasoline prices put more pressure on transportation budgets.

The platform also links preferred fuel stops with Samsara’s navigation tools and Coast fuel cards, giving operations teams a way to spot idling, fraud and inefficient fueling while Samsara says preferred-vendor use has helped customers cut median fuel spending by 4%.

Moderna [MRNA] $174.38 (+176.97%)

Moderna and Merck announced that Intismeran, their personalized mRNA cancer vaccine, succeeded in the Phase 3 INTerpath-001 trial for high-risk melanoma patients.

The vaccine is custom-built from each patient’s own tumor mutations, combined with Keytruda, and met both the primary endpoint of extending recurrence-free survival and the key secondary endpoint of reducing spread.

This is the first Phase 3 win for any mRNA cancer treatment, and the first time a therapy added to Keytruda outperformed Keytruda alone in adjuvant melanoma. Moderna doubled intraday, the first S&P 500 member to do that since 2008.

ZeroStack [ZSTK] $4.96 (+169.55%)

ZeroStack announced it would receive a $1 billion strategic contribution of MemeCore tokens valued at $25.19 per share, alongside issuing 3.5 million common shares and pre-funded warrants for up to 36.2 million additional shares.

The company is executing a crypto token treasury strategy similar to what MicroStrategy pioneered with Bitcoin.

At a $32 million market cap before the move, even a fraction of a billion-dollar token treasury completely reprices what this company looks like on paper.

Maravai LifeSciences [MRVI] $7.22 (+25.78%)

Maravai makes CleanCap, the mRNA capping technology used in mRNA vaccine manufacturing, and is the direct infrastructure beneficiary of Moderna’s Phase 3 win. Every dose of Intismeran uses mRNA raw materials that flow through Maravai’s TRILINK segment.

When the biggest mRNA commercial opportunity in history just got its Phase 3 green light, the company that sells the manufacturing inputs moves accordingly.

WhiteFiber [WYFI] $21.38 (-21.02%)

WhiteFiber priced $270 million in 5% convertible senior notes due 2032, upsized from a $250 million initial announcement, in a private placement to institutional buyers.

The conversion price was set at a 25% premium to Tuesday’s close, but the size and dilutive nature of the offering overwhelmed the positive momentum the data center infrastructure company had built since its August 12 earnings.

A stock that was up 18% on earnings day gave most of it back in a week.

La-Z-Boy [LZB] $33.91 (-16.95%)

La-Z-Boy reported Q1 FY2027 revenue of $475.7 million, missing estimates by nearly 5% and declining year-over-year for the first time in recent quarters.

Discretionary furniture spending remains weak as consumers prioritize essential spending under sustained fuel cost pressure.

The miss removes the recovery thesis the stock had been building and raises questions about when the furniture category normalizes in a household budget that’s still being squeezed.

Nebius Group [NBIS] $223.90 (-9.87%)

Nebius announced a $4.5 billion convertible note offering in two series to fund its data center buildout, and the dilution math landed harder than the growth story could absorb in a single session.

The stock had run nearly 200% year-to-date on AI cloud enthusiasm before the offering hit. Raising $4.5 billion in convertible debt when you're already up that much is a fast way to remind investors that capital-intensive AI infrastructure has a price tag.

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*Reagan Gold Group does not provide financial, legal, or tax advice. This information is for educational purposes only and should not be considered investment advice. All investments carry risk, including loss of principal. Past performance is not indicative of future results. Consult your licensed financial advisor before making investment decisions.

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