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TopGainers: Newell, Wynn, Novavax Soar, Keeping Wall Street in Rally Mode

Published 11/26/2018, 03:00 PM
Updated 11/26/2018, 03:30 PM
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Investing.com – Newell brands, Wynn Resorts and Novavax rallied into the close Monday, underpinning the broader market's strong start to the week.

Wynn (NASDAQ:WYNN) climbed 7% on expectations for improved sales figures in Macau, the gambling hotbed on the South China Sea, after Wall Street lifted its November forecast on gambling revenue in region.

Berstein said it expected Macau gross gaming revenue to increase 7% to 8% during the month to 24.5 billion to 25 billion patacas, well above the 2% to 4% growth previously forecast.

Newell Brands (NYSE:NWL), owner of brands including Paper Mate, Sharpie and Rubbermaid, soared 8% after it confirmed Christopher Peterson would take the reins from current Chief Financial Officer Ralph Nicoletti on Dec. 3.

Peterson's experience in improving operational efficiency and corporate restructuring plans are expected to prove valuable as Newell is in the middle of executing its accelerated transformation plan.

Health care group Novavax (NASDAQ:NVAX) rose 8% after Piper delivered an upbeat assessment of the company's Respiratory Syncytial Virus (RSV) and NanoFlu treatments.

Piper upgraded its rating on Novavax to overweight from neutral and slapped a $4 price target on its shares on expectations that the company's RSV vaccine ResVax and NanoFlu could generate $1 billion and $1.4 billion, respectively, in sales by 2027.

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