An airport employee guides an Airbus A319-100 aircraft from Delta Air Lines on the LAX tarmac in Los Angeles, California, United States, January 6, 2020.
Lucy Nicholson | REUTERS
Discover the companies that make the headlines Monday noon:
Moderna – Moderna jumped 23% after the drug maker reported “positive data” for its coronavirus vaccine. The early human trial showed that the vaccine produced Covid-19 antibodies in the 45 participants, the biotech company said on Monday. At day 43, approximately two weeks after administering the second dose to the participants, the antibody levels were at the levels generally seen in the blood samples from people who recovered from the disease.
Disney – Media name shares surged more than 7% after Disney announced that it would partially reopen its Springs Resort in Florida on Wednesday. A number of precautionary measures will be implemented, including mandatory face covers and contactless payment options.
Wells Fargo, Citigroup, Bank of America, JPMorgan Chase – Bank stocks skyrocketed Monday as investors bet on a faster economic recovery amid positive vaccine news and Treasury yields have risen. Wells Fargo rose 6.2%, and Citi rose 5.7%. Bank of America and JPMorgan gained more than 4%.
Inventories in Delta, the United States, Hilton Worldwide, Marriott – Airlines and hotels rose overall on Monday as expectations for the US economy reopened. Delta increased 10.7% while American Airlines increased 6.9%. Hilton Worldwide and Marriott International grew by 7.6% and 12.8% respectively.
Dollar Tree – The discount retailer jumped more than 4% after Goldman Sachs started covering the title with a buy rating. “We like the positioning of DLTR in a more difficult economic configuration, and believe that high-end initiatives should fuel SSS [same-store sales] lift and improve unit growth, “said company analysts. Goldman has a target of $ 89 over 12 months, which is about 13% above where it is currently trading.
Best Buy – A Telsey analyst upgraded Best Buy to outperform market performance, pushing stocks up by almost 10%. The analyst expects Best Buy to take advantage of: the trend of working from home, which will likely be there for a while, and the shift in spending toward home-related items, including electronics, ” among other trends.
Kraft Heinz – Kraft Heinz jumped almost 5% after Bank of America modernized the packaged food business to buy from neutral products. The bank said Kraft Heinz was well positioned to take advantage of changes in consumer habits in the wake of the coronavirus.
Netflix – One of the most popular “stay at home” titles was in the red, as investors piled up on titles that benefit from the reopening of the economy. The streaming giant’s shares fell 0.5%, while the market in general soared. Netflix shares have risen almost 40% this year.
Williams-Sonoma – Williams-Sonoma shares gained 7.8% after Wedbush improved the retailer to outperform neutrality. “We see double-digit normalized earnings growth potential in 2021 and beyond,” said the analyst.
Palo Alto Networks – Palo Alto Networks rose almost 3% after D.A. Davidson upgraded the cybersecurity company to buy from neutral on a “reasonable valuation” and improving demand. The company also raised its 12-month price target to $ 270 from $ 155, which represents an 18% gain.
– Yun Li, Maggie Fitzgerald, Pippa Stevens Jesse Pound and Michael Bloom of CNBC contributed to this report.