Twitter CEO and Co-Founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018.
Prakash Singh | AFP | Getty Images
Take a look at the companies making headlines on Monday noon:
Moderna – Moderna shares surged more than 9% after CEO Stephane Bancel said Monday it would take months to distribute a Covid vaccine specifically against the Omicron variant, but a higher 100 microgram dose of the booster could " immediately “be ready. Bancel said it would take at least two weeks to study how the mutations in the new variant affect the effectiveness of the current vaccines.
Twitter – The social media company's shares fell about 1% after it was announced that CEO Jack Dorsey is stepping down with immediate effect. Parag Agrawal, Chief Technology Officer of the company, will take over the management. Dorsey was both the CEO of Twitter and Square, his digital payments company. He will remain on the Executive Board until his term of office expires in 2022.
Merck – Shares in the pharmaceutical giant slide 4.5% after Citi downgraded Merck to neutral from Buy. Citi said in a statement to customers that disappointing data from two key drugs for Merck in the past few weeks has hurt long-term earnings potential.
Ebay – The e-commerce giant lost more than 2% after announcing it had acquired Sneaker Con Digital, the sneaker authentication business of the Sneaker Con marketplace. Ebay said the deal drives its expansion strategy in sneakers and gives customers more confidence in their purchases of high quality items. The companies signed and finalized the deal on November 24th. The terms of the deal were not disclosed.
Bristol-Myers Squibb – The pharmaceutical company's shares fell 2.7% even after the company announced that its application for a drug to treat psoriasis called deucravacitinib had been accepted by the Food and Drug Administration and European regulators validated its application .
Allbirds – Green footwear stocks fell 4.8% after a mixed string of launches from Wall Street banks. Morgan Stanley and JPMorgan initiated coverage of Allbirds with neutral-equivalent ratings, citing concerns about the company's long-term growth potential.
Tesla – Shares in the electric vehicle maker rose 4.8% on news that CEO Elon Musk was asking employees to prioritize "minimizing delivery costs" over accelerating car deliveries to customers in order to meet quarterly targets. According to the German car news website Automobilwoche, Tesla is also about to start production in its first European factory in Germany.
Coinbase – Cryptocurrency exchange stocks rose 4.8% as Bitcoin price rebounded after a sell-off with the broader stock market on Friday. Other crypto-related stocks also saw a surge, with micro-strategy up 3.4% and Silvergate Bank up 3%.
Zoom Video – Video conferencing platform stocks plummeted more than 3% as enthusiasm for the stay-at-home stocks cooled somewhat on Friday. The company's shares rose nearly 6% in the previous session as the omicron Covid-19 variant caused investors to move to areas of the market that benefit when consumers are at home.
– CNBC's Jesse Pound, Pippa Stevens, Yun Li and Hannah Miao contributed to the coverage