Here are the companies making headlines on Wall Street on Monday.
Eli Lilly – Drug dealer shares fell more than 8% after a phase two test for donanemab showed the treatment slowed the progression of Alzheimer’s disease. Mizuho Securities said in a note that the results were “hard, not surprising.”
AMC Entertainment – Shares of film theater giant jumped more than 22% as it began reopening theaters in Los Angeles. AMC opened two venues in the city Monday, and plans to reopen the remaining 23 Los Angeles theaters by Friday. The company hopes all areas across the state will be open by Friday.
American Airlines, United Airlines, Delta Air Lines and Alaska Air Group – Shares of major U.S. companies on Monday jumped amid hopes of a return to normal travel amid vaccine spreads. Air travel over the weekend hit its highest level in more than a year and airlines are seeing more registrations. Shares of American Airlines and United Airlines rose more than 6%. Delta gained 3% and Alaska Air Group gained nearly 4.4%.
MGM Resorts – Hotel and game stock rose about 4.2% after investment firm Jefferies upgraded MGM to buy from a hold. The company cited a positive outlook for Las Vegas travel and the rise of online gambling as reasons for optimism.
Unity Software – Shares of Unity Software came in more than 3% after Goldman Sachs began covering the stock of the video game with a buy rating, saying it was “a design platform for the masses The Wall Street company pulled a $ 126 per share price target on Unity, representing nearly 20% upside from its $ 105.70 per share opening price.
Gap – Shares of the seller jumped nearly 5.5% after Wells Fargo raised its target on the stock to a $ 40 high street, or about 30% above where shares closed Friday. The company appears to be “well positioned for market share benefits this year, Athleta has a meaningful runway for continued growth and the Gap brand features green shoes in their brand health campaigns,” Wells Fargo wrote in a note to clients.
NXP Semiconductors, Penn National Gaming – S&P Dow Jones Indices announced a new addition to the S&P 500 on Friday, strengthening shares of Penn National Gaming and NXP Semiconductors. Stocks rose 7.7% and 3.1%, respectively, on Monday.
GenMark Diagnostics – Shares of the diagnostic company jumped 29% after it was announced that Roche was buying GenMark in a $ 1.8 billion full-money deal. The potential for a contract has previously been reported.