In this article we will take a look at the some of notable stocks on the move today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are on the Move on Friday.
It’s the beginning of the fourth quarter and all three major indexes are modestly higher. The Dow Jones is up 0.75%, the S&P 500 is up 0.5% and the NASDAQ is up 0.19%. Among the stocks on the move include Moderna, Inc. (NASDAQ:MRNA), Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), Merck & Co., Inc. (NYSE:MRK), Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), United Airlines Holdings, Inc. (NASDAQ:UAL), Delta Air Lines, Inc. (NYSE:DAL), and Carnival Corporation & plc (NYSE:CCL). Let’s find out why each stock is moving and how elite funds are positioned among them.
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10. Merck & Co., Inc. (NYSE:MRK) has surged more than 8% after the company said a phase 3 study showed that oral antiviral Molnupiravir reduced the risk of hospitalization or death by approximately 50% compared to placebo for patients with mild or moderate COVID-19. Merck & Co., Inc. (NYSE:MRK) plans to seek Emergency Use Authorization in the United States as soon as possible and to submit applications to other regulatory agencies worldwide. If approved, Merck & Co., Inc. (NYSE:MRK)’s Molnupiravir could be the first oral antiviral medicine for COVID-19. Warren Buffett‘s Berkshire Hathaway owned more than 9.1 million shares of Merck & Co., Inc. (NYSE:MRK) at the end of June, down 49% from the prior quarter.
9. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is up 4% likely due to the Merck news. If approved, Merck’s Molnupiravir would be another way for the world to return to normal faster. If the world returns to normal faster, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s demand could increase faster. The number of elite funds in our database that were long Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) rose to 43 in the second quarter from 34 in the first quarter. Our database has around 873 elite funds that we track.
8. United Airlines Holdings, Inc. (NASDAQ:UAL) is up more than 4% also due to the Merck news. In addition to Merck, other companies such as Pfizer are also working on potential antiviral pills for COVID-19. If travel returns closer to normal faster, United Airlines Holdings, Inc. (NASDAQ:UAL) could benefit. Of the around 873 elite funds in our database, 39 were long United Airlines Holdings, Inc. (NASDAQ:UAL) at the end of Q2.
7. Delta Air Lines, Inc. (NYSE:DAL) has surged more than 4% due to the sector rally as a result of the Merck news. Dr. Robert Shafer of Stanford University said of Merck’s molnupiravir if approved, “I think it will translate into many thousands of lives being saved worldwide, where there’s less access to monoclonal antibodies, and in this country, too.” Delta Air Lines, Inc. (NYSE:DAL) would benefit if the world returned to normal faster. The number of elite funds that we track that were long Delta Air Lines, Inc. (NYSE:DAL) decreased by 1 from the prior quarter to 49 at the end of Q2.
6. Carnival Corporation & plc (NYSE:CCL) is up more than 3.5% due to hope that the travel sector could rebound faster due to today’s Merck news. Although trial data indicates that Merck’s molnupiravir efficacy is lower than that of monoclonal antibody treatments, molnupiravir could potentially be more affordable and easier to administer. If the travel sector returns closer to normal faster, Carnival Corporation & plc (NYSE:CCL) would benefit. Of the around 873 elite funds in our database, 31 were long Carnival Corporation & plc (NYSE:CCL) at the end of Q2, down from 44 in the prior quarter.
Like Merck & Co., Inc. (NYSE:MRK), Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), United Airlines Holdings, Inc. (NASDAQ:UAL), Delta Air Lines, Inc. (NYSE:DAL), and Carnival Corporation & plc (NYSE:CCL), Moderna, Inc. (NASDAQ:MRNA) and Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) are on the move.
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Disclosure: None. Why These 10 Stocks Are on the Move on Friday is originally published on Insider Monkey.
