By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 23rd. Please refresh for updates.
-
Regeneron (NASDAQ:REGN) stock rose 3.9% after the biotech’s experimental drug to treat Covid-19 patients, already used by President Trump, was granted emergency use authorization by the Food nd Drug Administration.
-
AstraZeneca (NASDAQ:AZN) ADR fell 1% despite its vaccine news. The pharma giant said there were two different dosing regimes, one produced 90% effectiveness and the other 62%. News of the later has dragged the share price down, as it is considerably below the 95% level seen in the Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) options. It isn't clear why anyone would take the less effective regime, given that the more effective one actually requires fewer resources.
-
Merck (NYSE:MRK) stock rose 1.9% after the pharma giant acquired Oncolmmune for $425 million, a drug maker which has produced a medication that has produced promising results in seriously ill Covid-19 patients.
-
Carnival (NYSE:CUK) stock rose 2.6%, Royal Caribbean (NYSE:RCL) stock rose 1.8%, benefiting from the vaccine news amid hopes the economy will reopen more quickly, overshadowing the Center for Disease Control raising its warnings against cruises to the highest on its scale.
-
Wynn Resorts (NASDAQ:WYNN) stock rose 0.9% and Caesars (NASDAQ:CZR) stock climbed 0.4% despite Las Vegas cutting capacity at the casinos to 25% from 50% to try and curb the spread of the virus in Nevada.
-
Warner Music (NASDAQ:WMG) stock rose 0.4% after its fourth-quarter revenue beat expectations, as digital revenue growth partially offset by a decline in recorded music artist services.
-
Western Union (NYSE:WU) stock rose 0.5% after the financial services company agreed to pay $200 million for a 15% stake in a unit of Saudi Telecom Company.
-
Kellogg (NYSE:K) stock fell 0.8% after Credit Suisse (SIX:CSGN) downgraded its investment stance on the cereal maker to “neutral” from “outperform”, citing increased investment in 2021.