During Market hours yesterday — Monday (14.12.2020):

The Dow and S&P 500 fell on Monday as fears of additional Covid-19 restrictions offset the optimism around a vaccine rollout.

  • The Dow (Symbol: DIA) closed lower by 0.6%. The S&P 500 (Symbol: SPY) declined by 0.4%, posting its first four-day losing streak since Sept. 21. The Nasdaq (Symbol: QQQ) outperformed, rising 0.5%.
  • Pfizer (Symbol: PFE), BioNTech (Symbol: BNTX) — Shares of the drug makers fell 2% and 6% respectively, despite the Food and Drug Administration’s approval of the firms’ Covid-19 vaccine, which is being shipped from Michigan to hundreds of distributions centers across the country.
  • DoorDash (Symbol: DASH) — The stock dropped more than 7% after D.A. Davidson slashed its rating on the food delivery company to neutral from buy. D.A. Davidson said the stock’s current valuation appears to leave little room for any performance hiccups. DoorDash went public last Wednesday, with its stock surging more than 80% during its debut.
  • Airbnb (Symbol: ABNB) — Shares fell more than 8% after Gordon Haskett downgraded the home rental platform to underperform from buy. The Wall Street firm said an overwhelming majority of investors it spoke to have been unable to justify Airbnb’s valuation relative to online travel agencies. Airbnb had a blockbuster public market debut last week that saw its shares more than double on the first day of trading.
  • Virgin Galactic (Symbol: SPCE) — Shares dropped 13.2% after the company aborted a spaceflight test on Saturday due to an engine issue. The company expects to repeat the test from its base at Spaceport America in New Mexico.
  • Caterpillar (Symbol: CAT) — Shares of the manufacturing company rose 0.8% after Caterpillar reported November retail statistics in a securities filing. The filing shows that Caterpillar’s sales have recovered in the Americas over the past three months, though performance is still down relative to 2019.
  • Disney (Symbol: DIS) — Shares fell 1.6% after an analyst at BMO Capital Markets downgraded the media giant to market perform from outperform. “With considerable multiple expansion recently for both initial vaccine news and Thursday’s direct-to-consumer (DTC) investor day, we step to the sidelines,” the firm said.
  • Arvinas (Symbol: ARVN) — Shares of the drugmaker soared more than 95% after releasing positive data on its protein degraders that demonstrate evidence of anti-tumor activity.
  • McDonald’s (Symbol: MCD) — UBS upgraded McDonald’s to buy from neutral, citing an attractive risk-reward outlook. McDonald’s traded 2.5% higher.

During Premarket hours today – Tuesday (15.12.2020):

  • Eli Lilly (Symbol: LLY) – The drugmaker announced a deal to buy Prevail Therapeutics (Symbol: PRVL) for $880 million or $22.50 per share, with Prevail shareholders also receiving a “contingent value right” worth up to $4 per share subject to future regulatory approvals of Prevail drugs.

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