Moderna, United Airlines, Zoom and more
The Moderna sign can be seen outside their headquarters in Cambridge, MA on March 11, 2021.
Boston Globe | Getty Images
Check out the companies that made the noon Friday headlines:
United Airlines, American Airlines – Airlines shares were hit hard in Friday’s sale as the new variant of Covid triggered travel restrictions. United and American shares fell 9.6% and 8.8% respectively. Delta lost 8.3% and aircraft manufacturer Boeing slipped 5.4%.
Marriott International, Airbnb – Travel shares have taken a hit after the new variant of Covid was announced. Marriott and Hilton hotel values fell 6.5% and 6.3% respectively. Airbnb fell 3.4%. Expedia sank 9.5%.
Carnival, Royal Caribbean – Inventories of cruise lines also fell as fears of Covid increased. Carnival lost 11%, Norwegian Cruise Line sank 11.4% and Royal Caribbean fell more than 13.2%.
Live Nation, Las Vegas Sands – Shares in entertainment and casinos fell amid news of the new variant of Covid. Live Nation lost 8.1%, Las Vegas Sands lost 5.4%, Wynn Resorts was down 6%, and Penn National Gaming was down 0.8%.
Macy’s, Gap – Retail stocks were hit hard on Friday, during what is normally one of the busiest shopping days of the year. Shares of department store chain Macy’s were down more than 5.2%, while Gap was down 2.9%. Nordstrom lost 1.1%. Nike is down 2.3%. Shares of Simon Property Group, America’s largest mall owner, fell 5.1%. Meanwhile, the Kroger grocery chain added 1.4%.
Zoom Video – Zoom Video shares jumped 5.7% as investors crammed into home-based stocks amid the market’s sell-off. Peloton also rose 5.7%. However, both stocks are still sharply lower for 2021, as investors turned to sectors of the economy that have benefited from the economic reopening.
Moderna, Pfizer – Vaccine makers saw their actions rally after the Covid variant was announced. Moderna jumped 20.6%, Pfizer 6.1%, BioNTech 14.2% and Novavax about 9%. Other health care actions have also advanced as fears of Covid increased. Quest Diagnostics rose 3.6% while Incyte rose 2.5%.
Merck – Shares of Merck fell 3.8% after the drugmaker’s experimental Covid-19 pill showed a lower rate of effectiveness in updated data than seen in a previous study.
Occidental Petroleum – Shares of the exploration and production company fell 7.2% amid a widespread decline in energy stocks. U.S. oil slipped about 13%, falling below $ 70 amid fears over the new variant of Covid. Marathon Oil fell 6.7%, Devon Energy fell 5.3% and APA fell 8.3%. Every component of the S&P 500’s energy sector fell during the shortened trading session on Friday’s vacation.
Bank of America, Citigroup – Bank stocks fell on Friday as the new variant of Covid raised fears for economic growth and lowered Treasury yields. Shares of Bank of America fell 3.9%, Citigroup fell 2.7%, while Goldman Sachs fell about 2.5%.
Didi Global – Didi shares fell 2.8% after a report that the rideshare company was asked by Chinese regulators to withdraw from the New York Stock Exchange. The rideshare company’s deregistration request is reportedly made due to data security concerns.
Tesla – Tesla shares fell 3.1% after a report the company will invest $ 188 million to increase production capacity at its Shanghai plant.
– CNBC’s Jesse Pound and Pippa Stevens contributed reporting