Alexion, Pluralsight, Pfizer: What to Watch When the Stock Market Opens Today
December 14 2020 - 7:28AM
Dow Jones News
By Mischa Frankl-Duval
Here's what we are watching as markets kick into gear
Monday.
-- U.S. stock futures rose on optimism that talks for additional
stimulus are progressing and that the rollout of Covid-19 vaccines
could help stem the pandemic.
Futures tied to the S&P 500 ticked up 0.5%, suggesting the
index may edge higher after the New York opening bell. Contracts
tied to the Nasdaq-100 Index gained 0.4%.
Read our full markets wrap here.
What's Coming Up
-- Amdocs and Plantronics are among companies presenting at the
Cowen Networking Summit.
Market Movers to Watch
-- Boston-based Alexion Pharmaceuticals leaped almost 34% in
premarket trade after AstraZeneca agreed to buy the company for $39
billion in cash and stock, a move that would bolster the British
drug giant's footprint in rare diseases. AstraZeneca shares fell
more than 5% in London.
-- Pfizer shares rose 1.5% before the bell. The company's
vaccine, developed jointly with BioNTech, began shipping over the
weekend from its production facility in Michigan.
-- Pluralsight shares rose 5% premarket. Private-equity firm
Vista Equity Partners agreed to buy the firm in a deal that values
Pluralsight at $20.26 a share, above Friday's closing price of
$18.98.
-- Shares in Columbus, Ohio-based Huntington Bancshares rose
4.3% on news the company would merge with Detroit-based TCF
Financial.
-- Several companies that have benefited from stay-at-home
orders declined in offhours trade. Zoom Video Communications fell
1.3% while Teladoc Health fell 1.9%.
Market Fact
-- The British pound jumped 1.5% against the U.S. dollar and
1.2% against the euro Monday morning, after U.K. and European Union
negotiators on Sunday agreed to extend their marathon Brexit
talks.
Chart of the Day
Drugmakers have pulled off a remarkable feat: quickly developing
vaccines that aim to stem a world-wide pandemic. Investors have
been enthusiastic. Now the question is whether some upstarts can
justify these windfall share-price gains.
Must Reads Since You Went to Bed
'The Best Year Ever': 2020 Was Surprisingly Good to Small
Banks
The U.S.-China Tech War Won't End Under Biden
Cruises and Covid-19: When U.S. Sailings Could Restart and What
Safety Precautions Are Expected Reddit Snaps Up Dubsmash to Expand
in Fast-Growing Video App Market SEC Schedules Vote on
Controversial Extractive Industry Rule
(END) Dow Jones Newswires
December 14, 2020 07:13 ET (12:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
AstraZeneca (NASDAQ:AZN)
Historical Stock Chart
From Aug 2024 to Sep 2024
AstraZeneca (NASDAQ:AZN)
Historical Stock Chart
From Sep 2023 to Sep 2024