Eli Lilly and Company Pharmaceutical Plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021.
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See the companies that make headlines in the lunch trade.
AMC Entertainment ̵
Stocks of memes – Other stocks of memes also rose on Monday, reflecting the AMC rally. BlackBerry won nearly 12%, Bed Bath & Beyond added more than 8%, GameStop jumped about 9% and Koss jumped 9.4%.
Carnival, Norwegian and Royal Caribbean – Cruise stock increased on Monday after Carnival confirmed plans to restart in July. The trips will be open only to passengers who are fully vaccinated, the company said. Shares of Carnival gained 1.7%, while Norway and Royal Caribbean added 3.5% and 1.4% respectively.
Eli Lily and company – Biopharmaceutical stocks jumped close to 10% after the FDA approved Biogen’s rival drug Alzheimer’s, the first new drug for the disease in nearly two decades. Eli Lilly is developing her own drug to treat Alzheimer’s disease.
Tesla – Electric vehicle maker’s shares are trading about 1% lower after the company said it had canceled production of the planned Model S Plaid +, which is designed to be a high-end version of the Model S. automakers fight computer chip shortages and other supply chain problems.
Peloton – Shares of the stationary bike company jumped more than 6% after Loop Capital Markets gave Peloton a rating to buy, saying the recent stock weakness was exaggerated. Shares took a big step down in May after the company withdrew its treadmill products, although shares have since recovered from the sell-off.
Progressive – Shares of the insurance giant fell about 4% in lunch trading after Morgan Stanley lowered shares to a low weight of the same weight. With the return of car travel to the United States, her analyst said, the cost of additional car claims and accident coverage will increase. The company reduced its price target for Progressive by $ 5 to $ 85 per share.
American Concrete – The shares of the concrete supplier jumped 29% after the company announced that it would be acquired by the manufacturer of construction materials Vulcan Materials. Vulcan will buy US Concrete for $ 74.00 per share, which is nearly 30% above $ 5.14 for the closing price of US Concrete on Friday.
– Maggie Fitzgerald of CNBC, Tanaya Macheel, Jesse Pound and Yun Li
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