Moderna, Pfizer Stocks Fall With Weak Expected Covid Vaccine Demand

Shares of vaccine makers moved lower Monday after Pfizer's finance chief predicted weaker demand for Covid shots this year. Pfizer CFO David Denton said his company projects a roughly 24% Covid vaccination rate in the U.S. this year. "Keep in mind the flu is probably closer to a 50% vaccination rate, so we haircut that pretty significantly for the year," Denton said at a JPMorgan conference.