The Moderna sign will be seen outside its headquarters in Cambridge, MA on March 11, 2021.
Boston Globe | Getty Images
Check out the companies that hit the headlines on Friday lunchtime:
United Airlines, American Airlines – The airline’s stocks were hit hard during Friday’s sell-off as the new Covid variant triggered travel restrictions. United and American stocks fell more than 12% and 11%, respectively. Delta lost about 11%, and aircraft manufacturer Boeing lost more than 7%.
Marriott International, Airbnb – Travel stocks took a hit after news of the new version of Covid. Marriott and Hilton hotel stocks were down more than 10% and 8%, respectively. Airbnb is down more than 5%. Expedia fell more than 11%.
Carnival, Royal Caribbean – Cruise ship stocks also fell as Covid fears mounted. Carnival lost more than 12%, Norwegian Cruise Line lost about 13%, and Royal Caribbean lost more than 11%.
Live Nation, Las Vegas Sands – Entertainment and casino stocks fell on news of the new version of Covid. Live Nation and Las Vegas Sands both lost more than 7%, Wynn Resorts lost more than 8%, and Penn National Gaming lost more than 2%.
Macy’s, Gap – Retail stocks were hit hard on Friday, what is typically the busiest shopping day of the year. Macy’s department store chain stocks were down more than 6%, while Gap was down around 3%. Nordstrom lost more than 7%. Nike lost more than 1%. The shares of Simon Property Group, the largest owner of shopping centers in the United States, were down more than 5%. Meanwhile, grocery chain Kroger added 3%.
Zoom Video – Zoom Video stocks rose more than 6% as investors piled into stocks that will stay at home amid the sell-off in the broad market. Peloton also gained more than 3%. However, both stocks are still sharply lower for 2021 as investors moved into sectors of the economy that benefited from the economic reopening.
Moderna, Pfizer – Vaccine makers saw their stocks rally after news of the Covid variant. Moderna grew by more than 24%, Pfizer by more than 5%, BioNTech by more than 19% and Novavax by around 9%. Other health values also rose as Covid fears increased. Quest Diagnostics gained nearly 4% while Incyte added more than 3%.
Merck – Merck shares fell 4.1% after the drug maker’s experimental Covid-19 pill showed a lower rate of effectiveness than a previous study in updated data.
Occidental Petroleum – The exploration and production company’s shares fell 11.1% on a broad decline in energy stocks. US oil slipped more than 9% and fell to its lowest level in two months amid concerns about the new variant of Covid. Marathon Oil, Devon Energy and APA all fell around 10%. All components of the S&P 500 energy sector declined during Friday’s holiday-cut trading session.
Bank of America, Citigroup – Bank stocks fell on Friday as the new variant of Covid raised fears about economic growth and caused government bond yields to fall. Bank of America and Citigroup stocks each lost more than 4%, while Goldman Sachs lost around 3%.
Didi Global – Didi’s shares fell more than 6% after a report was released that the rideshare company was ordered by Chinese regulators to delist from the New York Stock Exchange. The request to delete the ride-haling company is due to concerns about data security.
Tesla – Tesla shares plunged 1.4% after it was announced it would be investing $ 188 million in expanding manufacturing capacity at its Shanghai factory.
– CNBC’s Jesse Pound and Pippa Stevens contributed to the coverage