Pfizer, McDonald's Soar Premarket; Biogen Slumps By Investing.com

Pfizer, McDonald's Soar Premarket; Biogen Slumps

Stock Markets Nov 09, 2020 08:05AM ET

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Pfizer, McDonald's Soar Premarket; Biogen Slumps

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, November 9th. Please refresh for updates.

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%.
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.
Zoom (NASDAQ:ZM) stock fell 13% and Peloton (NASDAQ:PTON) stock dropped 12% as ‘stay-at-home’ companies slumped on the positive vaccine news.
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.
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.
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.
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.
McDonald’s (NYSE:MCD) stock rose 5.4% after the fast-food giant reported strong third-quarter earnings and increased its dividend.
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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Cheerios maker General Mills sales surpass on higher prices By Reuters - Jun 29, 2022

(Reuters) -Sales of General Mills Inc (NYSE:GIS)'s breakfast cereals, snack bars and pet food outstripped estimates in the fourth quarter despite higher prices. The Cheerios...

Czech firm PPF aims to exit China, wants partners for Europe acquisitions By Reuters - Jun 29, 2022 1

PRAGUE (Reuters) - Czech investment group PPF, controlled by the wife of billionaire founder Petr Kellner who died last year, aims to divest its once flagship consumer lending...

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Comments (1)

Mitchel Pioneer Nov 09, 2020 9:18AM ET

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Gee, I thought "vaccine hopes" were already "priced in" over the last 9 months, as one "rally" after another was said to be powered by this? The most fraudulent day in decades is on tap for the greatest financial fraud in history, and first legalized Ponzi scheme in the world.

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Kaveh Sun Nov 09, 2020 9:18AM ET

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No, just media lazy. Every moves they just stick vaccines into it.

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Pfizer, McDonald's Soar Premarket; Biogen Slumps

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