Here are the companies that made the headlines on Wall Street on Monday.
Eli Lilly – The pharmaceutical company’s shares fell more than 8% after a phase two trial with donanemab showed that the treatment slowed the progression of Alzheimer’s disease. Mizuho Securities said in a statement that the results were “solid, not impressive”.
AMC Entertainment – The shares of the movie giant jumped more than 22% when it started reopening theaters in Los Angeles. AMC reopened two locations in the city on Monday, and plans to reopen the remaining 23 Los Angeles cinemas by Friday. The company expects to have all of its facilities across the state open by Friday.
American Airlines, United Airlines, Delta Air Lines and Alaska Air Group – Shares in major U.S. airlines rose on Monday amid optimism about a return to normal travel amid the vaccine’s launch. Weekend air travel has reached its highest level in more than a year and airlines are seeing an increase in bookings. American Airlines and United Airlines shares rose more than 6%. Delta gained 3% and Alaska Air Group gained almost 4.4%.
MGM Resorts – Hotel and gaming stocks rose about 4.2% after investment firm Jefferies updated MGM to buy on hold. The company cited an improvement in prospects for trips to Las Vegas and an increase in online gambling as reasons for optimism.
Unity Software – Unity Software’s stock soared more than 3% after Goldman Sachs started covering video game stocks with a buy rating, calling it “a design platform for the masses”. The Wall Street firm reached a price target of $ 126 per share at Unity, representing an almost 20% increase from the opening price of $ 105.70 per share.
Gap – The retailer’s shares jumped nearly 5.5% after Wells Fargo raised its target to a $ 40 high on the street, or about 30% above where the stock closed on Friday. The company “appears to be extremely well positioned for gains in market share this year, Athleta has a significant path to continued growth and the Gap brand is showing green signals in its brand health initiatives,” wrote Wells Fargo in a note customers.
NXP Semiconductors, Penn National Gaming – S&P Dow Jones Indices announced new additions to the S&P 500 on Friday, increasing the shares of Penn National Gaming and NXP Semiconductors. The shares rose 7.7% and 3.1%, respectively, on Monday.
GenMark Diagnostics – The diagnostics company’s stock rose 29% after the announcement that Roche was buying GenMark in a $ 1.8 billion all-cash deal. The potential for an agreement had been previously reported.