Here are the companies that make headlines on Wall Street on Monday.
Eli Lilly – The drug’s shares fell by more than 8% after a second phase study for donanemab showed that the treatment slowed the progression of Alzheimer’s disease. Mizuho Securities said in a statement that the results were “solid, not amazing.”
AMC Entertainment – The shares of the film giant increased by over 22%, when the reopening of cinemas in Los Angeles began. AMC reopened two locations in the city on Monday and plans to reopen the other 23 theaters in Los Angeles by Friday. The company hopes to have all of its locations across the state open by Friday.
American Airlines, United Airlines, Delta Air Lines and Alaska Air Group – Shares of major US airlines jumped on Monday amid optimism about a return to normal travel amid the launch of the vaccine. Weekend air travel has reached its highest level in more than a year, and airlines are seeing increased bookings. Shares of American Airlines and United Airlines increased by more than 6%. Delta grew 3%, and Alaska Air Group gained nearly 4.4%.
MGM Resorts – The stock of hotels and games increased by about 4.2% after investment firm Jefferies upgraded MGM to buy from the hold. The company cited an improved outlook for trips to Las Vegas and the rise of online gambling as reasons for optimism.
Unity Software – Unity Software shares rose more than 3% after Goldman Sachs began covering the stock of video games with a buy rating, calling it a “mass design platform.” The Wall Street firm hit a target price of $ 126 per share, representing an increase of almost 20% compared to the opening price of $ 105.70 per share.
Gap – The retailer’s shares rose nearly 5.5% after Wells Fargo raised its stock target to a maximum of $ 40 or about 30% above, where the shares closed on Friday. The company “appears to be extremely well positioned for market share gains this year, Athleta has a significant track record for continued growth, and the Gap brand has 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 on Friday announced new additions to the S&P 500, boosting shares of Penn National Gaming and NXP Semiconductors. Stocks rose on Monday by 7.7% and 3.1%, respectively.
GenMark Diagnostics – The shares of the diagnostic company increased by 29% after the announcement that Roche was buying GenMark through a $ 1.8 billion cash transaction. The potential for a transaction had been previously reported.