During Market hours on Friday – 01.10.2021:

  • The Dow (Symbol: DIA) went up 0.1%. The S&P 500 (Symbol: SPY) rose 0.2%. and the Nasdaq (Symbol: QQQ) popped 0.1%.
  • Merck (Symbol: MRK) — Shares surged more than 9% after it announced its new antiviral pill cut the risk of death or hospitalization by 50% for Covid patients. The pharmaceutical company plans to file for emergency use authorization.
  • Moderna (Symbol: MRNA), Regeneron (Symbol: REGN) — Companies with other Covid-19 drugs fell after Merck’s oral pill showed positive data in a clinical trial. Moderna’s stock fell nearly 13%, while shares of Regeneron dropped more than 5%.
  • United Airlines (Symbol: UAL), Delta Air Lines (Symbol: DAL), American Airlines (Symbol: AAL), Southwest Airlines (Symbol: LUV) — Airline stocks rallied as Merck’s oral Covid drug showed promising results. United Airlines rose nearly 6%, Delta Air Lines gained more than 5% and American Airlines rallied roughly 4%. Southwest Airlines jumped more than 4% as well following an upgrade on the stock by JPMorgan.
  • Zoom Video Communications (Symbol: ZM) — Zoom and Five9 terminated what would have been a $14.7 billion deal. Five9 shareholders rejected the proposed acquisition by Zoom. Zoom shares gained 2.2% and Five9 shares rose 3.2%.
  • Walt Disney (Symbol: DIS) — Shares of the media giant popped 3% on news that Disney and Scarlett Johansson settled a lawsuit involving the “Black Widow” movie. Johansson had sued Disney over the release of the movie on the Disney+ streaming service at the same time it was debuting in theaters.
  • Exxon Mobil (Symbol: XOM) – The oil giant advanced more than 2% after the company updated Wall Street on its expected third-quarter results. In a filing with the Securities and Exchange Commission, Exxon said that higher oil and gas prices could lift earnings by as much as $1.5 billion. Analysts at Bank of America said the company is on track for its highest earnings per share since the third quarter of 2014.
  • International Flavors & Fragrances (Symbol: IFF) – Shares of International Flavors popped more than 6% after the company announced its chief executive Andreas Fibig plans to retire. The company said Fibig will remain at the helm of the company until a successor is found.

During Premarket hours today (Monday – 04.10.2021):

  • Southwest Airlines (Symbol: LUV) – Southwest added 1.4% in premarket trading after Barclays upgraded the stock to “overweight” from “equal weight,” saying it sees bluer skies ahead for airlines and that it favors low-cost, low-fare carriers like Southwest.
  • 3M (Symbol: MMM) – 3M fell 1.5% in the premarket after J.P. Morgan Securities downgraded the stock to “neutral” from “overweight,” citing a lack of “fundamental direction” for the company.
  • Johnson & Johnson (Symbol: JNJ) – Johnson & Johnson is planning to ask the Food and Drug Administration this week to authorize a booster shot for its Covid-19 vaccine, according to The New York Times citing officials familiar with the company’s plans.

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