These are the companies that are making headlines on Wall Street on Monday.
Eli Lilly – Shares of the drug manufacturer fell more than 8% after a phase two study for donanemab showed that the treatment slowed the progression of Alzheimer’s disease. Mizuho Securities said in a note that the results were “solid, not stunning.”
AMC Entertainment – Shares of the cinema giant were up more than 22% as it began reopening theaters in Los Angeles. AMC reopened two locations around the city on Monday and plans to reopen the remaining 23 theaters in Los Angeles by Friday. The company hopes to have all of its locations in the state open by Friday.
American Airlines, United Airlines, Delta Air Lines and Alaska Air Group – Shares of major US carriers skyrocketed Monday, amid optimism about a return to normal travel amid the vaccine rollout. Weekend air travel hit its highest level in more than a year and airlines are seeing more bookings. Shares of American Airlines and United Airlines were up more than 6%. Delta was down 3% and Alaska Air Group gained nearly 4.4%.
MGM Resorts – Hotel and gaming stocks were up about 4.2% after investment firm Jefferies upgraded MGM to buy off hold. The company cited an improving outlook for Las Vegas travel and the rise of online gambling as reasons for optimism.
Unity Software – Unity Software’s stock skyrocketed more than 3% after Goldman Sachs began covering video game stock with a buy rating calling it “a design platform for the masses.” The Wall Street firm hit a price target of $ 126 per share on Unity, representing a nearly 20% increase from its opening price of $ 105.70 per share.
Gap – The retailer’s stock was up nearly 5.5% after Wells Fargo raised its target for the stock to a Street high of $ 40, or about 30% above where the stock closed Friday. The company “appears to be exceptionally well positioned for gaining market share this year, Athleta has a meaningful runway for continued growth, and the Gap brand is showing green shoots in their brand health initiatives,” Wells Fargo wrote in a note to customers.
NXP Semiconductors, Penn National Gaming – S&P Dow Jones Indices announced new additions to the S&P 500 Friday, boosting shares of Penn National Gaming and NXP Semiconductors. Shares rose 7.7% and 3.1% respectively on Monday.
GenMark Diagnostics – Shares of the diagnostics company were up 29% after an announcement that Roche bought GenMark in an all-cash deal worth $ 1.8 billion. The potential for a deal had previously been reported.