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Beyond Meat stock slumps, Nike claims StockX is selling fake shoes, Moderna CFO steps down

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Yahoo Finance Live anchors break down three stocks in focus: Beyond Meat, Nike, and Moderna.

Video transcript

SEANA SMITH: It's time for our triple play, three stocks that we are watching with just around 30 minutes to go until the closing bell. First up, I'm taking a look at Beyond Meat. So this is a huge loser in today's market. Look at that, shares off just around 13%, trading right around $26 a share. Now it is a company that has been under a tremendous amount of pressure, on track for five days in a row of a losing streak, on track for a record low close ahead of earnings.

A couple of key things to watch in this. Their partnerships-- that will be key here after the bell. We know they have had partnerships with McDonald's, which they say has been very, very strong here for the company, something that analysts will be closely watching here. Analysts will also be looking for adjusted earnings per share of $0.98 on revenue of just around $112 million. Again, though, the stock moving lower for the fifth day in a row, trading just around $26 a share, Dave.

DAVE BRIGGS: It's all on that McDonald's partnership that you mentioned there, that McPlant burger that-- probably going to sit that one out. But it's been successful. It's 600 different stores in this Bay Area and Dallas Fort Worth. And experts call it a gateway plant burger to really introduce it to billions into the mass market. And that'll be everything for them. And now they do have 8,000 new retail outlets with the chicken, Beyond Chicken Tenders. Have you tried those?

SEANA SMITH: I haven't tried them. But I've heard great things, though. People love it, so.

DAVE BRIGGS: How about the McPlant?

SEANA SMITH: I haven't tried either, no.

DAVE BRIGGS: No? All right, we might have to do one of those--

SEANA SMITH: I've done Impossible Foods, though, so similar, but we need to try--

DAVE BRIGGS: Allie, let's go, Allie Canal. We need a taste test. My play is Nike. They say the sneaker marketplace, StockX, is actually selling fake shoes. This adds fuel to the already raging fire that is a trademark infringement lawsuit between Nike and StockX. In a court filing yesterday, Nike said, quote, "four pairs of counterfeit shoes were all purchased within a two-month period." They were all verified authentic, and it all came with a certificate vouching for their authenticity.

But again, Nike says all four pairs were fake. Now StockX telling us in a statement, quote, "Nike's challenge has no merit and clearly demonstrates their lack of understanding of the modern marketplace." Meanwhile, shares of Nike down more than 30% year to date and down just about 1% on this news, Rachelle.

RACHELLE AKUFFO: I mean, it's a fascinating story because you figure, who knows their shoes better than Nike themselves? But obviously, when you look at a reseller's market, a lot of questions do come up about authenticity, where people are getting [AUDIO OUT] from. When you buy a pair of sneakers [AUDIO OUT] could be one of those situations where [AUDIO OUT] blockchains. So you can really try and track the authenticity along the way. So an interesting move there to have to watch, especially something that a lot of resellers have to contend with. And obviously, along with that comes reputation.

And speaking of reputation, we're heading over to my pick, which is Moderna, ticker symbol, MRNA. But the company isn't making headlines because of its COVID vaccines. You see their shares down just over 6 and 1/2% today. Now this as chief financial officer Jorge Gomez departed "effective immediately," quote, Tuesday, according to Moderna. And that's after an internal probe into financial reporting irregularities that took place at his previous position at Dentsply Sirona.

Now he's actually only been in the job for less than a week. And while Moderna said Gomez will forfeit his signing bonus and bonus eligibility, he will still get his 12-month salary of $700,000. Now Moderna's former CFO, David Meline, who guided the company through the pandemic, will reprise that role after stepping down $42 million richer, thanks to his Moderna stock options when he left. It's the second time in three years that Meline has come out of retirement. So top that, Tom Brady.

SEANA SMITH: Yeah, certainly. I mean, I think that this is good news here for Moderna. Just the fact that Meline was willing to come back certainly has been helping to guide the company, like you said, throughout the pandemic, a very tough time here for the company. And also, they really need someone who knows Moderna inside and out. So he could be the right person for the job. But again, shares moving to the downside today, off just over 6%. So we'll see how things shake out. I might-- I'm sensing a rebound pretty soon.

DAVE BRIGGS: All right, back now to the Nike accusations against StockX, I have just one experience with StockX, courtesy Brian Cheung and Brad Smith who got me interested in sneakers, but didn't guide me through my one experience. I outbid the nearest competitor over $200 on a set of Jordans that I was in love with. They came weeks later. I opened the box. And you know what happened, Seana?

SEANA SMITH: What?

DAVE BRIGGS: I paid for baby shoes.

SEANA SMITH: No.

DAVE BRIGGS: I paid $200 plus for shoes that my 10-year-old daughter could not wear. I am now banned from StockX by my wife.

SEANA SMITH: Well, you know, yeah, well, you should be banned from StockX by your wife. I would be-- also, who in their right mind-- that's why you were easily outbidding everyone else. Because everyone's like, who the heck is paying--

DAVE BRIGGS: Hey, man.

SEANA SMITH: --over $200 for baby shoes?

DAVE BRIGGS: This guy.

SEANA SMITH: I have two kids that-- it looks like it maybe would fit my 2 and 1/2 year old. I don't know what size they are.

DAVE BRIGGS: You want them? You want to bid on them?

SEANA SMITH: Yeah-- well, no, I'm not going to pay over 200 bucks. I was going to say, I pay, like, 10 to 20 bucks for his shoes. I'm very, very frugal when it comes to that. So people are saying, who the heck is this person willing to eagerly just fork over, over $200?

DAVE BRIGGS: I think Rachelle's daughter could grow into them.

RACHELLE AKUFFO: This guy.

DAVE BRIGGS: Right? No dice. All right.

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