Shares of Pfizer (PFE)
and BioNTech (BNTX)
skyrocketed about 15% and 25% respectively.
And so did the stocks of other companies working on vaccines, such as Moderna (MRNA)
and Johnson & Johnson (JNJ)
. Meanwhile, shares of companies that make antibody and antivrial treatments (but not vaccines), including Regeneron (REGN)
, Eli Lilly (LLY)
and Gilead Sciences (GILD)
, were lower.
Drug stocks and biotechs weren’t the only companies soaring on the hopeful vaccine news. The prospect of an effective coronavirus vaccine has people dreaming of a return to normalcy.
That’s why shares of movie theater chain AMC (AMC) skyrocketed more than 80%
while concert promoter Live Nation (LYV)
was up more than 20%. Retailers surged, too: The SPDR S&P Retail ETF (XRT)
, which holds Gap (GPS)
, Best Buy (BBY)
, Target (TGT)
, Costco (COST)
and other big chains, was up 4%.
Cruise lines Carnival (CCL)
, Norwegian (NCLH)
and Royal Caribbean (RCL)
all soared, as did shares of major airlines Southwest (LUV)
, American (AAL)
, Delta (DAL)
and United (UAL)
Other travel and leisure stocks, including Disney (DIS)
, Booking.com (BKNG)
, hotel giants Marriott (MAR)
and Hilton (HLT)
, ridesharing firms Uber (UBER)
and Lyft (LYFT)
and big restaurant chains McDonald’s (MCD)
, Restaurant Brands (QSR)
and Darden (DRI)
, were up solidly too.
End of the work-from-home and stay-at-home stock trade?
But there were also some notable market losers Monday: companies that have benefited from the work-from-home and stay at home trends.
Video conferencing giant Zoom (ZM)
plunged 15%. So did shares of interactive exercise equipment company Peloton (PTON)
, Netflix (NFLX)
and Roku (ROKU)
were lower too — a potential bet that consumers may spend less time indoors shopping online and binging on TV shows and movies.
Shares of work collaboration software company Slack (WORK)
fell about 4%. And shares of virtual health company Teladoc (TDOC)
sank nearly 7%.