Amazon, Tesla, AstraZeneca, Carnival & extra
An Amazon.com Inc employee prepares an order in which the buyer requested to be gift wrapped for an item at a fulfillment center in Shakopee, Minnesota, USA on Nov. 12, 2020.
Amazon.com Inc | Reuters
Check out the companies that are making headlines in midday trading.
Moderna – The drugmaker’s stock rose 16.4% after AstraZeneca’s CEO announced that the company would conduct another study of its coronavirus vaccine candidate if questions arise about the drug’s effectiveness. Pizer and BioNTech, which are also working on their own vaccine, gained 1.7% and 3.1% respectively.
Home Depot, Gap – Retailer stocks rose on investor optimism about shopping for the Black Friday holiday. Home Depot’s shares were up about 0.7%. Gap, TJX Companies, Dick’s Sporting Goods, Etsy and toy maker Hasbro all rose on Friday.
Amazon – Amazon’s shares rose roughly 0.3% as investors cheered what is expected to be a strong holiday season for the e-commerce giant. Wall Street firm Truist estimates that Amazon will collect 42 cents from every dollar spent throughout the year-end shopping season as the pandemic forces many Americans to shop online.
Tesla – Tesla’s shares rose more than 2%, bringing weekly earnings to over 19% and this year’s rally to 600%. The stock was in a rift after it was selected for inclusion in the S&P 500 benchmark. Valued at more than $ 560 billion, the electric automaker could end up on Friday with a larger market cap than Warren Buffet’s Berkshire Hathaway.
AstraZeneca – Biopharmaceutical inventory was unchanged after AstraZeneca’s CEO told Bloomberg News that the company would conduct another phase three study on its Covid-19 vaccine candidate. A dosing error in the first study resulted in patients receiving a smaller amount of the vaccine, although it appeared to be more effective than the full dose.
Carnival, MGM Resorts – Stocks of stocks dependent on the economy reopening rose amid a week of positive vaccine developments. Carnival rose 4.5% and Norwegian Cruise Line and Royal Caribbean gained 2% and 1.7%, respectively. MGM resorts in casinos were up 0.8% and Wynn resorts were up more than 0.8%.
Mesa Air Group – The regional airline’s shares rose 7% after it was revealed that billionaire Ron Burkle has a 7.8% stake in the company. The stock fell nearly 30% in 2020 when the pandemic hit air travel.
– CNBC’s Maggie Fitzgerald, Jesse Pound and Fred Imbert contributed to the coverage.
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