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Zoom Video, Carnival, Peloton, Moderna: what to watch when the stock market opens today

 


Global markets take a hit on Black Friday amid concerns over a new variant of Covid-19, but some familiar names are getting a boost. Here is what we were watching:

  • Covid-19 vaccine producers were jumping ahead of commercialization as pandemic fears gripped markets. Pfizer added 6.5% pre-market, Moderna climbed 10% and Novavax gained 6%.
  • Investors appeared to be positioning themselves for more nights, with Netflix shares up 2.2% ahead of the bell and DoorDash adding 4%.
  • Peloton was also benefiting from the prospect of more time spent at home, with shares up 6.7% pre-market.
  • Airlines and cruise lines were once again absorbing the bulk of fears about possible new travel restrictions. Delta Air Lines fell 7.5%, American Airlines lost 6.7% and Southwest Airlines slipped 5.4%. Carnival fell 9.7% and Royal Caribbean fell 9.6%.
  • Hosting companies were also suffering from the gloom. Marriott International fell 5.8% and Airbnb fell 6.4%.
  • U.S.-traded shares of Chinese rideshare company Didi Global fell 4.7% before market. Chinese regulators are asking the company to withdraw from the New York Stock Exchange, according to a Bloomberg News report.
  • Bitcoin’s dollar price was down 8% from Thursday, and crypto stocks were declining with it. Coinbase fell 4.3% and bitcoin miners Marathon Digital and Hut 8 Mining fell 6.9% and 7% respectively.
  • US crude prices are down 5.8% and power producers are facing sharp declines. Occidental Petroleum fell 7.8%, Devon Energy fell 6.1% and Diamondback Energy fell 6.1%.
  • AlibabaGroup Holding chief executive Daniel Zhang is delegating power to the heads of the company’s business units to become more agile in the face of growing challenges and potentially pave the way for fallout, people familiar with the matter said. Shares traded in the United States were down 3.4% pre-market.
  • Chinese US-listed e-commerce company Pinduoduo plunged 17% after reporting quarterly earnings.
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  • Coronavirus outbreaks and a regulatory overhaul cloud the long road to recovery for the gaming hub in China. Macau gaming stocks have lost between 23% and 56% since the start of 2021, as the second year of the pandemic kept what was the world’s most lucrative gaming market largely closed to outside visitors.

Write to James Willhite at [email protected]

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2/ https://www.wsj.com/articles/zoom-video-carnival-peloton-moderna-what-to-watch-when-the-stock-market-opens-today-11637926067

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