TLDR
- Moderna and Merck’s personalized mRNA cancer vaccine met all endpoints in a Phase 3 melanoma trial
- Marvell Technology struck an expanded AI chip deal with Google worth a potential $120 billion through 2033
- Estée Lauder surged around 18% after issuing a stronger-than-expected profit forecast for fiscal 2027
- SK Hynix announced a $28.6 billion share buyback, one of the largest in semiconductor history
- Merck shares jumped 10-11% on the back of the successful Keytruda combination trial results
Wednesday was one of the busiest sessions on Wall Street in recent weeks, with major stock moves across biotech, semiconductors, beauty and AI chips.
Moderna and Merck Score Landmark Cancer Vaccine Results
The biggest story of the day came from Moderna and Merck. The two companies announced positive late-stage results for a personalized mRNA cancer vaccine used alongside Merck’s Keytruda drug.
The treatment met both primary and secondary endpoints in a Phase 3 melanoma trial. It is one of the strongest pieces of evidence yet that mRNA technology, best known from COVID-19 vaccines, can be applied to cancer treatment.
Moderna shares surged sharply, making it one of the day’s biggest movers. Merck rose around 10-11% as well.
Both companies could now use the data to support regulatory filings. If approved, the treatment could open a major new commercial market for personalized cancer vaccines.
For Merck, the timing is important. Keytruda is one of the world’s best-selling drugs, but key patents start expiring later this decade. New combinations and uses for the drug are a top strategic priority.
The Moderna and Merck results may prove to be one of the most important biotech developments of 2026. If the vaccine shows similar results across other tumor types, it could open a new chapter for both companies.
Marvell Technology Lands Massive Google AI Chip Deal
Marvell Technology was another standout on Wednesday after announcing a large expanded partnership with Alphabet’s Google focused on custom AI chips.
Google received warrants that could allow it to purchase up to $12.2 billion worth of Marvell shares if certain targets are met. The broader deal could generate around $120 billion in revenue for Marvell through fiscal 2033.
The partnership reflects a growing trend among large tech companies to build custom chips designed for their own AI workloads, rather than relying solely on Nvidia GPUs.
Broadcom, which also supplies custom AI chips to Google, moved lower on the day as investors weighed whether Marvell might capture a larger share of future orders.
Estée Lauder Jumps 18% on Upgraded Profit Outlook
Estée Lauder jumped around 18% after issuing a profit forecast for fiscal 2027 that beat expectations. The company expects adjusted earnings of $3.10 to $3.35 per share.
The beauty giant has spent several years dealing with weak demand in China and travel retail. The new outlook suggests CEO Stéphane de La Faverie’s turnaround is starting to gain traction.
Strong performance from premium fragrance brands including Le Labo and Tom Ford helped support the improved guidance.
SK Hynix Launches $28.6 Billion Share Buyback
SK Hynix, a major supplier of high-bandwidth memory chips to Nvidia, announced a $28.6 billion share buyback program.
The company also pledged to return more than half of its free cash flow to shareholders between 2025 and 2027.
SK Hynix has been a major beneficiary of AI-driven demand for memory chips used in data centers. The scale of the buyback reflects how much its financial position has strengthened as memory pricing and AI demand remain strong.
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