Stock Groups

Twitter, Moderna, Merck, Tesla and more

Jack Dorsey, the CEO of Twitter and cofounder of the site, gestures to students while interfacing with them at IIT in New Delhi (November 12, 2018).

AFP | AFP | Getty Images

These are the top companies in Monday’s midday trading

Moderna — Moderna shares surged more than 9% after CEO Stephane Bancel said Monday it will take months to distribute a Covid vaccineSpecifically targeting the omicron version, however, the booster shot may be prepared with a stronger 100-microgram dose. Bancel stated that it would take two weeks to determine how mutations in the new variant will affect the effectiveness of the current vaccines.

Twitter — Shares of the social media company fell about 1% after news that CEO Jack Dorsey is stepping down, effective immediately. Parag, who is the company’s chief tech officer, will assume the role of chief executive. Dorsey was serving as both the CEO of Twitter and Square, his digital payments company. He will be continuing to serve on the board through 2022 when his term ends.

Merck — Shares of the pharmaceutical giant slide 4.5% after Citi downgraded Merck to neutralFrom buy. Citi stated in a note sent to clients, that Merck has suffered from disappointing results in two of its key drugs in the last week. This could impact long-term earnings.

Ebay — The e-commerce giant lost more than 2% after announcing it’s acquiring Sneaker Con Digital, the sneaker authentication business of the marketplace Sneaker Con. Ebay claimed that this deal will allow it to expand in sneaker sales and increase customer confidence with high-value purchases. The companies signed and closed the deal on Nov. 24. The deal’s terms were not revealed.

Bristol-Myers Squibb — Shares of the pharmaceutical company fell 2.7% even after the company announced its application for a psoriasis-treating drug called deucravacitinib was accepted by the Food and Drug Administration and European regulators validated its application.

Allbirds — The eco-friendly shoe stock dropped 4.8% after a mixed batch of initiations from Wall Street banks. Morgan Stanley, JPMorgan and others began covering Allbirds in neutral-equivalent ratings. This was due to concerns regarding the company’s long-term potential growth.

Tesla — Shares of the electric vehicle maker rose 4.8% on news that CEO Elon Musk urged employees to prioritize “minimizing cost of deliveries”To meet end-of quarter goals, we are focusing on expediting delivery of vehicles to customers. German auto news site reports that Tesla is close to starting production at the first European facility in Germany. Automobilwoche.

Coinbase — The cryptocurrency exchange’s shares rose 4.8% as the price of bitcoin reboundedFollowing a Friday sell-off in the wider equities markets, this was the next move. Others crypto-related stocks also saw a boost. Microstrategy rising 3.4% and Silvergate BankYou can increase the amount by 3%

Zoom Video —  Shares of the video-conferencing platform slid more than 3%, as some of Friday’s enthusiasm for the stay-at-home stocks cooled. As the new omicron Covid-19 version triggered investors to shift into markets that can benefit consumers when they are at home, shares of the company surged nearly 6% during the preceding session.

 — CNBC’s Jesse Pound, Pippa Stevens, Yun Li and Hannah Miao contributed reporting

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.