An American Airlines plane lands at Ronald Reagan Washington National Airport on November 23, 2021 in Arlington, Virginia.
drew anger | Getty Images
Find out which companies are in the headlines at noon Tuesday.
American Airlines, Norwegian Cruise Line – Travel shares fell as investors continued to weigh the risks of the Covid omicron variant. American Airlines shares fell more than 4%, Norwegian Cruise Line lost more than 6%, Wynn Resorts fell about 5%, and Airbnb fell 4.9%.
Gap, Under Armor – Retail stocks were under pressure after Cyber Monday online sales fell 1.4% from a year ago, dropping for the first time, according to Adobe Analytics. However, Adobe believes customers are flaunting their purchases this year and expects the entire holiday season to see record growth in online sales. The spread fell more than 6%, Under Armor fell about 5%, and Tommy Hilfiger’s parent company, PVH Corp, lost more than 4%.
Regeneron Pharmaceuticals – Shares of Regeneron fell more than 2% after the company said its Covid-19 antibody drugs may be less effective against the omicron variant Covid. The company said mutations in the variant suggest “that there may be reduced neutralizing activity of vaccine-induced immunity and transmitted monoclonal antibodies.”
Moderna, Pfizer – The actions of vaccine makers were the focus of attention after Moderna CEO Stéphane Bancel told the Financial Times he expects existing vaccines to be less effective against the variant omicron. Researchers are still studying the reaction of the new variant to previous immunity, and the University of Oxford said there was still no evidence that current vaccines would not protect against serious illness from omicron. . Moderna shares fell more than 6%. BioNTech shares fell more than 5%. Pfizer stock gained around 2%. Novavax shares added more than 2%.
Dollar Tree – The discount retailer’s stock slipped 4.5% after Goldman Sachs downgraded Dollar Tree to neutral on buying. The company said the business’s operational improvements were being taken into account and Dollar Tree would face pedestrian traffic issues in the coming year.
Solaredge – The clean energy stock fell 6.3% after Morgan Stanley downgraded it at equal weight. The investment firm said in a note to clients that Solaredge shares could be fully valued after a recent streak of success.
Meta Platforms – Shares of Meta, Facebook’s parent company, fell more than 3% after the UK competition watchdog said the company should sell the GIF-sharing platform Giphy, which Facebook has acquired last year. The regulator said the deal could hurt UK social media users and advertisers. Meta said he disagreed with the decision and was considering appealing.
Beyond Meat, Oatly – Shares of Beyond Meat and Oatly fell about 6% and 7%, respectively, after HSBC launched hedging protein stocks at a reduced rating. “Given the prospect of increased competition, the growth we forecast will be insufficient for many participants to achieve their lofty growth ambitions,” the company said.
Twitter, Square – Shares of Twitter and Square fell more than 5% and 2%, respectively. The move comes a day after Jack Dorsey announced he was stepping down as CEO of Twitter while remaining CEO of Square. Bank of America moved Square to neutral from underperforming and reiterated a buy note for Twitter.
– CNBC’s Jesse Pound and Tanaya Macheel contributed reporting