An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020.
Amazon.com Inc | Reuters
Check out the companies making headlines in midday trading.
Moderna — The drugmaker’s stock jumped 11% after AstraZeneca’s CEO said the company would run another trial on its coronavirus vaccine candidate amid questions over the drug’s effectiveness. Pizer and BioNTech, which are also working on their own vaccine, gained 1.7% and 3.1%, respectively.
Lowe’s, Home Depot, Gap — Shares of retailers rose due to investor optimism around shopping for the Black Friday holiday. Shares of Lowe’s rose about 1% and Home Depot ticked about 0.5% higher. Gap, TJX Companies, Dick’s Sporting Goods, Etsy and toymaker Hasbro all rose on Friday in midday trading.
Amazon — Shares of Amazon gained about 0.9% as investors cheer what is expected to be a strong holiday shopping season for the e-commerce giant. Wall Street firm Truist estimated that Amazon will claim 42 cents of every dollar spent during the full year-end shopping season as the pandemic forces many Americans to shop online.
Tesla — Shares of Tesla jumped more than 3%, bringing its weekly gains to more than 21% and its rally this year to 600%. The stock has been on a tear after it was selected for inclusion in the S&P 500 benchmark. The electric car-maker, which is worth more than $560 billion, could end Friday with a larger market cap than Warren Buffet’s Berkshire Hathaway.
AstraZeneca — The biopharmaceutical stock slipped 0.7% after AstraZeneca’s CEO told Bloomberg News that the company would run another phase-three trial for its Covid-19 vaccine candidate. A dosing error in the first trial resulted in patients receiving a smaller amount of the vaccine, though that appeared to be more effective than the full dosage.
Carnival, MGM Resorts, Delta Air Lines — Shares of stocks that hinge on the economy reopening rose amid a week of positive vaccine developments. Carnival rose more than 2.5% and Norwegian Cruise Line and Royal Caribbean gained 2% and 1%, respectively. Casinos stock MGM Resorts popped 2.7% and Wynn Resorts rose more than 2%. Delta Air Lines and United Airlines rose about 1% a piece, with American Airlines gaining over 2%.
Mesa Air Group — Shares of the regional airline popped nearly 3% following news that billionaire investor Ron Burkle owns a 7.8% stake in the company, an SEC filing showed. The stock is down nearly 30% in 2020 as the pandemic hit air travel.
— CNBC’s Maggie Fitzgerald, Jesse Pound and Fred Imbert contributed reporting.
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Check out the companies making headlines in midday trading.