During Market hours yesterday — Monday (30.11.2020):
Stocks fell on Monday as traders booked some profits given the historically strong gains logged in November.
- The Dow (Symbol: DIA) went down 0.9%. The S&P 500 (Symbol: SPY) closed 0.4% lowerwhile the Nasdaq (Symbol: QQQ) popped 0.2%.
- Moderna (Symbol: MRNA) Shares rallied 20.2% after the drugmaker said its coronavirus vaccine candidate was more than 94% effective in preventing Covid-19 during a trial. The company added it would seek emergency use approval from the Food and Drug Administration.
- S&P Global (Symbol: SPGI), IHS Markit (Symbol: INFO) S&P Global said it would buy IHS Markit for $44 billion, including debt, in a deal that is expected to close in the second half of 2021. S&P Global investors will receive 67.75% of the combined company once the deal closes. “This merger increases scale while rounding out our combined capabilities,” S&P CEO Douglas Peterson said. Shares of S&P Global rose 3% and IHS advanced 7.4%.
- Nikola (Symbol: NKLA) Shares of Nikola dropped 27% after General Motors gave up its equity stake in the electric vehicle maker as part of a smaller deal between the two companies. In September, the two companies announced a $2 billion deal that gave GM an 11% stake in Nikola to supply battery and fuel-cell technologies. GM had also agreed to build Nikola’s Badger pickup truck. Under the new deal, GM will not build the truck.
- Apple (Symbol: AAPL) The tech giant advanced more than 2% after bullish comments from Wall Street. Loop Capital Markets upgraded the stock to a buy rating and set a $131 per share target, which is about 12% above where the stock closed Friday. Separately, Morgan Stanley said early signs indicate that iPhone 12 sales are surpassing expectations.
- Carnival (Symbol: CCL) Shares of the cruise operator fell more than 7% amid a sell-off in companies sensitive to the economy reopening. Royal Caribbean (Symbol: RCL) and Norwegian Cruise Line (Symbol: NCLH) each slid more than 3%. The energy sector, which is by far the best-performing S&P 500 grouping this month, also declined, with Chevron (Symbol: CVX) and Exxon (Symbol: XOM) dipping at least 4.5% each.
During Premarket hours today – Tuesday (01.12.2020):
- Zoom Video (Symbol: ZM) The video conferencing stock was down 7% despite Zoom reporting better-than-expected results for its third quarter. The company earned 99 cents a share on $777 million in revenue. Analysts surveyed by Refinitiv were looking for 76 cents a share and $694 million in revenue.
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