Nikola, Weibo, DoorDash & more
Nikola Corporation has rung the Nasdaq Closing Bell remotely from around the world.
Source: The Nasdaq
Check out the companies making headlines on Monday lunchtime:
Nikola – Shares in the electric vehicle maker rose nearly 6% after a JPMorgan analyst said he saw “less dramatic” news flow for the company in 2021. “We expect Nikola to post a video of a working Tre in January “We expect a steady flow of updates for the truck in 2021 as the test milestones are reached,” the analyst said.
Myovant Sciences – Shares rose 25% after agreeing to collaborate with Pfizer to develop prostate cancer drug Relugolix. The drug is also being studied for possible uses for women’s health.
Weibo – The stock fell more than 10% despite a better-than-expected quarterly report from the Chinese social media company. Weibo posted adjusted earnings of 66 cents per share, 6 cents above Refinitiv’s estimates. Sales were also above the analysts’ forecasts. However, some analysts pointed to the slowdown in business growth with average daily active users.
Astrazeneca – US-listed shares in the drug maker rose more than 1% after several reports said the company’s Covid vaccine, developed in partnership with Oxford University, is expected to be approved in the UK this week. The AstraZeneca shot is expected to launch next week if approved in the next few days.
Apple – The tech giant’s shares rose more than 3% on the strength of big tech. Progress comes after Apple makes its fourth straight week of profits.
Novavax – Shares fell more than 2% after the biotech company announced that its coronavirus vaccine candidate entered a phase 3 study in the United States and Mexico. “This study is a critical step in building a global portfolio of safe and effective vaccines to protect the world’s population,” said CEO Stanley Erck in a statement.
DoorDash – The food company fell 3.8% after a column in the Wall Street Journal highlighted how a new bill in California could affect delivery service. The regulation would require companies to have agreements with restaurants, potentially affecting the growth strategy for some services.
CNBC’s Pippa Stevens, Jesse Pound and Yun Li contributed to this report.