An American Airlines aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia on November 23, 2021.
Drew Angerer | Getty Images
Check out the companies that hit the headlines on Tuesday at noon.
American Airlines, Norwegian Cruise Line Travel stocks fell as investors continued to weigh the risks of the Covid-Omicron variant. American Airlines shares were down more than 4%, Norwegian Cruise Line was down more than 6%, Wynn Resorts was down around 5%, and Airbnb was down 4.9%.
gap, Under armor Retail stocks have come under pressure after online sales fell 1.4% year over year on Cyber Monday and fell for the first time ever, according to Adobe Analytics. However, Adobe expects customers to expand their shopping this year and expects the entire holiday season to see record-breaking online sales growth. Gap down more than 6%, Under Armor down about 5%, and Tommy Hilfiger parents PVH Corp lost more than 4%.
Regeneron Pharma – Regeneron’s shares fell more than 2% after the company owned its Covid-19 antibody drugs could be less effective against the omicron variant of Covid. The company said mutations in the variant suggest that “the neutralizing activity of both vaccine-induced and monoclonal antibody-mediated immunity may be reduced”.
Modern, Pfizer Vaccine manufacturer stocks were in focus after Moderna CEO Stephane Bancel told the Financial Times that he was expects existing vaccines to be less effective against the Omicron variant. Researchers are still studying the new variant’s response to previous immunity, and Oxford University said it was no evidence yet that current vaccines do not protect against serious Omicron disease. The Moderna share lost more than 6%. The BioNTech share fell by more than 5%. Pfizer stock gained around 2%. Novavax shares gained more than 2%.
Money tree – The discounter’s stock slumped 4.5% after Goldman Sachs downgraded Dollar Tree too neutral of buy. The company said the company’s operational improvements have been priced in and Dollar Tree will face pedestrian traffic issues in the coming year.
Solar drain – The stock of clean energy lost 6.3% Morgan Stanley downgraded it balanced. The investment firm issued a notice to its clients that Solaredge’s shares may be fully valued after a recent hot spell.
Meta platforms Facebook parent Meta shares fell more than 3% after UK competition watchdog said the company should sell the GIF sharing platform Giphy, which Facebook acquired last year. The regulator said the deal could harm social media users and UK advertisers. Meta has stated that she does not agree with the decision and is considering an appeal.
Beyond meat, oatmeal Beyond Meat and Oatly stocks fell approximately 6% and 7% respectively after HSBC began coverage of protein stocks with a downgraded rating. “Given the prospect of increased competition, the growth we forecast will not be enough for many participants to meet their high growth ambitions,” the company said.
Twitter, square – Twitter and Square shares fell more than 5% and 2%, respectively. The moves come a day later Jack Dorsey has announced his resignation as CEO of Twitter while he remained at Square as chief executive. Bank of America upgraded Place to neutral of below average performance and repeat a purchase review for Twitter.
– CNBC’s Jesse Pound and Tanaya Macheel contributed to the coverage