Jim Paulson, Chief Investment Strategist of the Ludold Group, discussed mega cap growth stocks and cycles.
U.S. stock markets rallied Monday morning after the first batch of COVID-19 vaccines were delivered and bilateral stimulus agreement talks showed signs of progress.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| Me: DJI. | DOW JONES AVERAGES | 30285.59 | +239.22 | + 0.80% |
| SP500 | S&P500 | 3695.38 | +31.92 | + 0.87% |
| I: COMP | Nasdaq Composite Index | 12513.400842 | +135.53 | + 1.09% |
The Dow Jones Industrial Average rose 195 points, or 0.65%, in the opening minutes of trading, while the S&P 500 and Nasdaq mix rose 0.64% and 0.71%, respectively.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| P.F.E. | PFIZER INC. | 40.82 | -0.29 | -0.71% |
| PNTX | Biotech S.E. | 120.95 | -6.35 | -4.99% |
A health worker in New York State became the first American to receive the Pfizer / Bioentech Covit-19 vaccine on Monday.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| FDX | FedEx Corporation | 293.37 | +3.64 | + 1.26% |
| UPS | United Parcel Service Inc. | 170.18 | +1.76 | + 1.05% |
FedEx Corporation will deliver the vaccines to 145 U.S. hospitals on Monday, 425 on Tuesday and 66 on Wednesday.
The vaccine comes amid talks that talks around the $ 900 billion COVID-19 relief package could resume after President Trump signs a bill to temporarily fund the government.
Millionaires make housing market a rare winner in coronavirus downturn
MERGER MONDAY
In the mergers and acquisitions, British pharmaceutical maker AstroGeneca PLC agreed to buy US biotech Alexian Drugs for $ 39 billion in cash and shares. Alexian shareholders will receive a 45% premium on the final price on Friday.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| AZN | AstraZeneca PLC | 50.84 | -3.44 | -6.33% |
| ALXN | Alexian Pharmaceuticals Inc. | 157.98 | +37.00 | + 30.58% |
Private-stock company Vista Partners has agreed to buy learning-software company PuralSite Inc. for $ 3.5 billion, or 25% premium for shares where it settled on Friday.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| B.S. | PLURALSIGHT INC | 20.12 | +1.14 | + 6.01% |
Electronic Arts Inc. Competitor Tag-to-Interactive has signed a $ 971 million deal to buy UK-based racing game developer Godmaster for $ 1.4 billion a month.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| E.A. | Electronic Arts Inc. | 137.79 | +1.99 | + 1.46% |
| TTWO | Pick two | 198.96 | +8.75 | + 4.60% |
Click here to read more on Fox Business
Elsewhere, shares of Virgin Galactic Inc. were down as the company’s test flight on Saturday failed to reach space as planned. The company said the rocket motor did not fire because the ignition line was not completed.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| SPCE | Virgin Galactic Holdings Inc. | 28.02 | -4.00 | -12.49% |
Meanwhile, Tesla Inc. CNBC said it had sent a letter to employees saying it would stop production of the Model X and Model S vehicles from December 24 to January 11. The letter asks the affected staff to do a “volunteer charity” to help deliver vehicles to customers.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| DSLA | Tesla Inc. | 617.11 | +7.12 | + 1.17% |
In terms of commodities, West Texas Intermediate crude was up 61 cents at $ 47.18 a barrel and gold was down $ 6.90 at $ 1,836.70 an ounce.
European markets traded higher, with Germany’s DAX 40 up 1.14%, France’s CAC 30 up 1% and Britain’s FTSE 100 up 0.17%.
In Asia, Hong Kong’s Hong Cheng index fell 0.44%, Japan’s Nikkei 0.3% and China’s Shanghai Composite 0.66%.