Hot Stocks: Delayed MRNA boosters; SPOT, CRUS analyst comments; BA Dreamliner holdup; MTCH going into S&P 500

seekingalpha2021-09-07
  • As traders returned to work following the three-day holiday weekend, COVID shots and analyst comments represented the major themes in Tuesday's pre-market action. Moderna, Inc. lost ground on word that the rollout of COVID boosters would start out with only the joint vaccine from Pfizer and BioNTech SE.
  • Meanwhile, a couple of stocks advanced on upgrades. Spotify Technology S.A. and Cirrus Logic both gained ground after positive analyst comments.
  • Boeing generated headlines in Tuesday's pre-market period as well. The company has reportedly delayed its 787 Dreamliner deliveries.
  • Elsewhere, Match.com climbed before the bell on news that it was joining the S&P 500 index.

Decliners

  • Moderna (MRNA) posted a modest dip in pre-market action afterit was left out of the initial COVID booster plans. Over the weekend, White House chief medical adviser Dr. Anthony Fauci said the PFE/BNTX vaccine would be included for the rollout planned for Sept. 20, with MRNA's version set to follow sometime soon after.
  • MRNA fell on the news, but recovered some of its early pre-market losses to post a decline of less than 1%.
  • Meanwhile, wrangling with regulators will cause Boeing(NYSE:BA)to delay deliveries of its 787 Dreamliner aircraft, according to The Wall Street Journal.The paper reported that the company could not reach an agreement on inspectionswith the Federal Aviation Administration, meaning customers will have to wait until at least late October to receive their aircraft.
  • On the news, shares of BA dipped about 0.6% in pre-market action.

Gainers

  • Spotify (SPOT) received an upgrade from KeyBanc.Analyst Justin Patterson raised his rating on the stock to Overweight from Sector Weight, pointing to favorable industry dynamics and his outlook for monthly users. SPOT rose nearly 4% before the bell.
  • Cirrus Logic (CRUS) also gained ground following an analyst comment.Barclays upgraded the stock to Overweight from Equal Weight, saying that content gains at Apple should equate to wins for CRUS. The stock gained about 4% in pre-market action.
  • Match (MTCH) jumped before the bell, rising more than 10% on an index reshuffling.The stock is moving into the Standard & Poor's 500 indexas part of the indicator's quarterly rebalancing.
  • Standard & Poor's also said that Ceridian HCM(NYSE:CDAY)and Brown & Brown(NYSE:BRO)are joining the S&P 500. CDAY posted a fractional advance on the news, while BRO was down slightly.
  • Keep up with Wall Street's biggest winners and losers throughout the session.Turn to SA's On The Move section.
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