Pfizer, McDonald's Soar Premarket; Biogen Slumps
Investing.com
Published Nov 09, 2020 08:04AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 9th. Please refresh for updates.
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Pfizer (NYSE:PFE) stock soared 13% after the pharma giant announced that its Covid-19 vaccine candidate, made in conjunction with Biontech (NASDAQ:BNTX), was 90% effective in a late-stage trial. Biontech stock was up 25.5%.
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Biogen (NASDAQ:BIIB) stock slumped 27% after a U.S. Food and Drug Administration advisory panel was critical of the efficacy of the company’s experimental Alzheimer’s disease therapy, casting doubts over its approval.
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Zoom (NASDAQ:ZM) stock fell 13% and Peloton (NASDAQ:PTON) stock dropped 12% as ‘stay-at-home’ companies slumped on the positive vaccine news.
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American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL) and Delta Air Lines (NYSE:DAL) stock soared over 15% on the Pfizer news, amid hope that a widely-available vaccine will allow a quicker rebound in air travel.
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Carnival (NYSE:CUK), Royal Caribbean (NYSE:RCL) and Norwegian Cruise Line (NYSE:NCLH) stock all rose over 20% on hope that the positive news about Pfizer’s vaccine will lead to their cruise liners sailing again sooner than originally thought.
- Simon Property (NYSE:SPG) rose 16% as the same news breathed life into threatened shopping malls. Amazon (NASDAQ:AMZN) stock fell 2.3%, while FedEx (NYSE:FDX) and United Parcel Service (NYSE:UPS) stock - two other winners of the shift to online shopping - gave up 3.1% and 1.6% respectively.
- Movie theater AMC Entertainment (NYSE:AMC) stock rose 75% on hopes for a quick reopening of theaters and a return to studios distributing new releases in the traditional way.
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Berkshire Hathaway (NYSE:BRKa) stock rose 5.8% after Warren Buffett’s conglomerate bought back $9 billion of its own stock in the third quarter, nearly doubling the record buyback from the second quarter.
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Apple (NASDAQ:AAPL) stock rose 1.4%, underperforming the wider market as the iPhone maker suspended new business with key supplier Pegatron after finding that the Taiwanese company violated its rules related to student worker programs at its China facilities.
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McDonald’s (NYSE:MCD) stock rose 5.4% after the fast-food giant reported strong third-quarter earnings and increased its dividend.
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Canopy Growth (NYSE:CGC) stock rose 11% after the Canadian cannabis company posted a smaller-than-expected loss in its fiscal second quarter, while revenue grew more than anticipated.
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