FINANCE

Pfizer, Occidental Petroleum, Bank of America and more


On February 2, 2021, a syringe was filled with a dose of Pfizer’s coronavirus (Covid-1) vaccine at a pop-up community vaccination center at Gateway World Christian Center in Valley Stream, New York.

Brendon McDermide | Reuters

See companies that made headlines hours ago:

China Evergrand Group – Chinese property giant Evergrand has fallen more than 10% on the Hong Kong Stock Exchange, scaring Asian markets. The company has struggled to pay its suppliers, and has warned investors twice in two weeks that it could default. Evergrande said last week that its property sales would drop significantly in September after months of collapse.

Pfizer – The pharmaceutical giant said Monday that tests have shown its Covid vaccine is safe and effective when used in children aged 5 to 11 years. Pfizer’s shares fell about 1% in primary market trading.

Laredo Petroleum, Occidental Petroleum – Oil and fuel stocks declined in pre-market trading on Monday. SPDR S&P Oil & Gas Exploration ETF fell more than 3% in the first trading, at the pace of its third negative session. Laredo Petroleum is up more than 8%, Calon Petroleum is down about 6% and Occidental Petroleum is down about 5%. The damage was caused by the fall of crude oil amid fears of a global economic downturn in China’s property market.

Colgate-PalmLive-Sunday Deutsche Bank upgraded major stocks for consumers to buy from Hold. The investment firm said inflation and Colgate’s difficulties in some international markets have already determined its stock price.

JPMorgan, Bank of America – Bank stocks fell sharply amid falling bond yields amid fears of a recession. Investors flock to the Treasury for security as the stock market is ready for its biggest sale in a few months. Shares of big banks have hit because falling rates could hurt profits. Bank of America and JPMorgan Chase were down more than 2% each in premarket trading. Citizen Financial Group is down 3%, while Citigroup is down 2.5%.

AstraZeneca-UK-based pharmaceutical company announced Monday that its breast cancer drug Enhertu has shown positive results in a third-stage trial. The company’s share in premarket trading was over 1%.

ARK Innovation ETF – Kathy Wood’s ARK Innovation ETF is 2.755% lower in the premarket, at a pace of day-to-day winning streak. Composen, Draftkings, Coinbase and Square were among the biggest losers at the ETF this morning.

– Including reporting from CNBC’s Jesse Pound and Eun Lee.



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