The Moderna sign will be seen outside its headquarters in Cambridge, MA on March 11, 2021.
Boston Globe | Getty Images
Check out the companies that hit the headlines on Friday lunchtime:
United Airlines, American Airlines – The airline's stocks were hit hard during Friday's sell-off as the new variant of Covid triggered travel restrictions. United and American stocks fell 9.6% and 8.8%, respectively. Delta lost 8.3% and aircraft manufacturer Boeing lost 5.4%.
Marriott International, Airbnb – Travel stocks took a hit after news of the new version of Covid. Marriott and Hilton hotel stocks were down 6.5% and 6.3%, respectively. Airbnb was down 3.4%. Expedia was down 9.5%.
Carnival, Royal Caribbean – Cruise ship stocks also fell as Covid fears mounted. Carnival lost 11%, Norwegian Cruise Line lost 11.4% and Royal Caribbean lost more than 13.2%.
Live Nation, Las Vegas Sands – Entertainment and casino stocks fell on news of the new version of Covid. Live Nation lost 8.1%, Las Vegas Sands lost 5.4%, Wynn Resorts lost 6%, and Penn National Gaming lost 0.8%.
Macy's, Gap – Retail stocks were hit hard on Friday, what is typically the busiest shopping day of the year. Macy's shares fell more than 5.2%, while Gap fell 2.9%. Nordstrom lost 1.1%. Nike was down 2.3%. Shares in Simon Property Group, the largest shopping mall owner in the United States, were down 5.1%. Meanwhile, the grocery chain Kroger gained 1.4%.
Zoom Video – Zoom Video stocks rose 5.7% as investors piled into stocks that will stay at home amid the sell-off in the broad market. Peloton also gained 5.7%. However, both stocks are still sharply lower for 2021 as investors moved into sectors of the economy that benefited from the economic reopening.
Moderna, Pfizer – Vaccine makers saw their stocks rally after news of the Covid variant. Moderna grew by 20.6%, Pfizer by 6.1%, BioNTech by 14.2% and Novavax by around 9%. Other health values also rose as Covid fears increased. Quest Diagnostics was up 3.6% while Incyte added 2.5%.
Merck – Merck stock was down 3.8% after the drugmaker's experimental Covid-19 pill showed a lower rate of effectiveness than a previous study in updated data.
Occidental Petroleum – The exploration and production company's shares fell 7.2% on a broad decline in energy stocks. US oil slipped about 13% and fell below $ 70 on fears about the new Covid variant. Marathon Oil was down 6.7%, Devon Energy was down 5.3%, and APA was down 8.3%. Every component of the S&P 500 energy sector declined during Friday's holiday-cut trading session.
Bank of America, Citigroup – Bank stocks fell on Friday as the new variant of Covid raised fears about economic growth and caused government bond yields to fall. Bank of America shares lost 3.9%, Citigroup 2.7%, while Goldman Sachs lost around 2.5%.
Didi Global – Didi's shares fell 2.8% after a report was released that the ride-sharing company was ordered by Chinese regulators to delist from the New York Stock Exchange. The request to delete the ride-sharing company is due to concerns about data security.
Tesla – Tesla shares slipped 3.1% after it was announced it will be investing $ 188 million to expand manufacturing capacity at its Shanghai factory.
– CNBC's Jesse Pound and Pippa Stevens contributed to the coverage