Drug maker stocks rise but travel stocks sink on new coronavirus variant


Shares of airlines fell and drug makers rose in premarket trades on Friday as investors reacted to fresh travel bans related to a new variant of the coronavirus that causes COVID-19 called B.1.1.529 identified in South Africa. Meanwhile, stocks relating to ‘stay-at-home’ activities gained. The British government has banned flights from South Africa and five other southern African countries. The World Health Organization’s technical working group is meeting Friday to discuss the variant. Pfizer PFE, +6.11% advanced by 5.8%, Moderna MRNA, +20.57% gained 8.7%, Southwest Airlines LUV, -4.32% dropped 7%, American Airlines AAL, -8.79% stock slumped 7%; Expedia EXPE, -9.48% fell 6.8% and United Airlines UAL, -9.57% dropped 7.6%. Delta Air Lines DAL, -8.34% lost 7.8%, Norwegian Cruise NCLH, -11.36% gave up 9.6% and Royal Caribbean RCL, -13.22% shares slid 10%. Netflix NFLX, +1.12% rose 2%.Take-Two Interactive Software TTWO, +3.26% rose by 1%.

This article was originally published by Marketwatch.com. Read the original article here.

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