In this photo illustration the American multinational pharmaceutical corporation Pfizer logo seen displayed on a smartphone with a computer model of the COVID-19 coronavirus on the background.
Budrul Chukrut | SOPA Images | Getty Images
Check out the companies making headlines midday Monday:
Pfizer, BioNTech — Both U.S. drugmaker Pfizer and German biotechnology company BioNTech rose on Monday after they reported additional data from their experimental Covid-19 vaccine. The new data showed their candidate both was safe and induced an immune response in patients. It also showed the vaccine candidate triggered an induction of a high level of T-cell responses. Pfizer gained 0.35% in the U.S. while BioNTech added 5.2% on Monday.
Amazon — Shares of the e-commerce giant jumped more than 3.5% on Monday for its first positive day in six. Amazon got a boost from Goldman Sachs, which hiked its 12-month price target to $3,800 per share from $3,000 per share. Goldman’s new target is tied for the highest on Wall Street, equal to Brent Thill at Jefferies, according to FactSet.
Moderna — Moderna shares dropped more than 10% following a downgrade from JPMorgan and positive news from other companies working on a coronavirus vaccine. JPMorgan downgraded the stock to neutral from overweight, saying it is “increasingly difficult to pull additional levers in our model any further at this point.”
Astrazeneca — The biopharma company slipped 1.7% after trial data from a vaccine candidate was released, showing positive immune results. The company is developing the drug with Oxford University. The stock price rose more than 13% last week.
Nikola — Nikola shares fell more than 20% after the electric truck maker filed for a new stock offering related to warrants. Analysts at Deutsche Bank said there could be more selling ahead as investors look to lock in gains.
Peloton — Shares of the at-home stationary biker maker surged more than 10% after Goldman Sachs raised its price target on the stock to a Street high of $84 per share from $66 per share. The Wall Street firm said Peloton is continuing to grow its “addressable market, amplifying network effects, and increasing the consumer value proposition.”
Noble Energy — The independent oil and gas company jumped more than 5% after Chevron said it will acquire the company in an all-stock transaction valued at $5 billion. “These are high quality assets at a very fair price,” Chevron CEO Michael Wirth said Monday on CNBC’s “Squawk on the Street.”
Urban Outfitters — Urban Outfitters was downgraded to sell from hold by an analyst at Loop Capital, citing concerns about light” traffic and demand as stores reopen. The analyst also lowered their earnings estimate for fiscal second quarter and for fiscal 2021. Urban Outfitters shares dropped more than 7%.
Alphabet — Credit Suisse hiked its price target on the Google parent to $1,850 per share from $1,600 per share. The new price target implies an upside of 22% from Friday’s close of $1,516.85. The analyst cited: “1) ongoing monetization improvements in Search advertising through product/AI driven updates, 2) greater-than expected revenue contribution from non-Search businesses (YouTube, Cloud, and Play), 3) optionality and shareholder value creation from new monetization initiatives such as Maps” positive catalysts for the stock. Alphabet shares rose more than 2%.
—CNBC’s Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Tom Franck contributed to this report.