Why These 5 Stocks Are on the Move on Friday

In this article we take a look at five stocks that are moving on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are on the Move on Friday.

5. Expedia Group, Inc. (NASDAQ:EXPE) has surged 3.5% due to today’s rally in many travel related stocks as a result of the Merck antiviral news. According to data from a phase 3 study, Merck’s Molnupiravir could reduce the risk of hospitalization or death by approximately 50% compared to placebo for patients with mild or moderate COVID-19. Merck plans to seek regulatory approval in the U.S. for Molnupiravir as soon as possible. If travel returns to closer to normal faster, more people could potentially use Expedia Group, Inc. (NASDAQ:EXPE)’s services and the company could benefit. Of the around 873 elite funds in our database, 87 were long Expedia Group, Inc. (NASDAQ:EXPE) at the end of Q2.

4. Alaska Air Group, Inc. (NYSE:ALK) has surged 3.3% due to the broader increase in the airline sector as a result of the Merck news. Alaska Air Group, Inc. (NYSE:ALK) shares are up almost 23% year to date. The number of elite funds in our database that were long Alaska Air Group, Inc. (NYSE:ALK) rose to 38 in Q2, 2021 from 32 in Q1, 2021.

3. Southwest Airlines Co. (NYSE:LUV) is up around 3.4% due to the Merck news, which has helped airline stocks. Southwest Airlines Co. (NYSE:LUV) has also likely increased due to an analyst upgrade from JPMorgan’s Jamie Baker who upgraded the stock to ‘Overweight’ from ‘Neutral’. Of the around 873 elite funds in our database, 49 were long Southwest Airlines Co. (NYSE:LUV) at the end of the second quarter.

2. Moderna, Inc. (NASDAQ:MRNA) has fallen 12% due to the Merck news, which could potentially shorten the pandemic. Moderna, Inc. (NASDAQ:MRNA) will need to continue to innovate for its stock to do well after the pandemic. Stephen Mandel‘s Lone Pine Capital was long almost 4 million shares of Moderna, Inc. (NASDAQ:MRNA) at the end of June.

1. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is down around 5% due to the Merck news which could take some demand from monoclonal antibody therapies as a result. The Merck news could also shorten the pandemic’s length. Of the around 873 elite funds in our database, 48 were long Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) at the end of Q2.

Disclosure: None.