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Now time for some of today's trending tickers. We're checking on shares of Novavax, Shake Shack and some solar stocks. First up Novavax surging today after its protein-based COVID-19 vaccine received its long-awaited approval from the US Food and Drug Administration. And even though that approval came with some conditions, the fact that it happened at all was enough to send the shares soaring by about 15%, Josh.

Yeah, from what I read, Julie, they expected to secure approvals, I guess, for vaccine on April 1. And then they faced these delays, and the FDA, I guess, asked for more data, so some relief from investors perhaps. Also Moderna, by the way, which of course, also makes the COVID shots. That's enjoying a nice day in the green, too. Up about 6%.

Right.

Yeah, so, so the conditions on this is that the shot is okayed for adults 65 and older, and those who are 12 to 64 who have at least one underlying condition. So higher risk patients, basically, older adults and higher risk patients. Not cleared for children as far as I understand it. And really what this removes is a concern that Robert F. Kennedy, of course, the HHS Secretary, was going to block this entirely. So this is sort of, at least the market is reading it as a bigger indication of perhaps his attitude towards these types of vaccines. But we'll see if it goes beyond Novavax or not.

Right. Something broader.

We will. All right, switching gears. Shares of Shake Shack, they're taking a hit today after being downgraded to a hold from TD Cowen. And so those analysts, they do cut the rating, they go to the sidelines to the hold. They talk about high valuation, saying the challenged restaurant spending backdrop limits further multiple expansion, particularly in the crowded burger category. They highlight also the big run since that 52-week low set in early April, Julie.

Yeah, they're also talking about marketing spending, and that the company's not spending as much on marketing, which they say this might be, there's a stronger year-over-year benefit to sales from advertising because they're not going to be advertising as much. Um, they, you know, so that's one of the other things here. They also talked about digital offers are stepping up in the first half of this year, which may be an indication about demand here that maybe they, that frequent customers need them, need a little more sugar, need a little more of an enticement to get in the door.

So yes, so they did take it down. Their target stays at 105, by the way.

Um, and then finally let's look at solar stocks here, which are moving as a group today for solar, Sunrun, Enphase Energy. They're all sinking after conservative Republican lawmakers said they had secured a commitment from leadership to end key clean energy tax credits earlier than planned. You know, this all part of the big bill, tax bill, trying to make its way through Congress here. Um, and basically the energy credits, there was a tax incentive for clean energy production, among other things, would initially, they were supposed to start phasing out in 2029 and then end in 2032. This reporting says it could happen earlier than that, but it's not clear how much earlier. But obviously there's a lot of sensitivity and concern around these credits more broadly, and what this administration and Congress are going to do to various pieces of the IRA going forward.

Yeah. Per Bloomberg, Representative Ralph Norman of South Carolina, who's helping negotiate the package, it doesn't sound like we didn't provide a new time frame exactly. So we're not sure. And ultimately, of course, you still have to decide, what do Republicans really do with this in the House, including those described as more moderates, and then of course, then on to the Senate.