Stocks Making the Biggest Moves Yesterday: Moderna, Lam Research, Spotify, Meta and P&G

**Moderna (MRNA)**, -17.6%: the vaccine maker plunged after Phase 3 results for its melanoma vaccine with Merck appeared on a medical news site two days early, showing a 42% cut in the risk of the cancer returning or death. That fell short of the 49% an earlier, smaller study showed, and the shares had risen more than eightfold this year before Thursday. Full story

**Lam Research (LRCX)**, -11.8%: the chip-equipment maker plunged after warning that shortages of clean-room space and some parts will keep limiting chipmakers into 2027, even as its quarterly revenue hit a record $8.22 billion. It was the stock’s worst day in our price history, which starts in October 2021, and KLA and Applied Materials fell with it. Full story

**Spotify (SPOT)**, +11.1%: the music-streaming company soared after forecasting €820 million of fourth-quarter operating income, above the €813.4 million analysts expected, according to LSEG data cited by Reuters. It also ended the third quarter with 306 million paying subscribers, 1 million more than it had guided to. Full story

**Meta (META)**, -7.0%: the social media company slid after spending $34.91 billion on data centers and equipment in the quarter, which left free cash flow at negative $2.12 billion. Investors also balked at a new class of nonvoting shares that Meta says it could use to raise capital. Full story

**Procter & Gamble (PG)**, +5.6%: the maker of Tide and Crest had its best day since March 2020, Benzinga reported, after core earnings of $2.00 a share and sales of $23.3 billion beat forecasts. Investors also moved money into everyday-goods stocks as AI shares sold off. Full story