Stocks making the biggest moves noon: Moderna, IHS Markit, Nikola, Carnival & more

Moderna in Cambridge, MA is pictured on Feb. 28, 2020.

David L. Ryan | The Boston Globe by way of Getty Images

Check out the firms making headlines noon Monday:

Moderna — Shares rallied more than 14% after the drugmaker stated its coronavirus vaccine candidate was more than 94% efficient in stopping Covid-19 throughout a trial. The firm added it will search emergency use approval from the Food and Drug Administration.

S&P Global, IHS Markit — S&P Global stated it will purchase IHS Markit for $44 billion, together with debt, in a deal that’s anticipated to shut in the second half of 2021. S&P Global traders will obtain 67.75% of the mixed firm as soon as the deal closes. “This merger increases scale while rounding out our combined capabilities,” S&P CEO Douglas Peterson stated. Shares of S&P Global rose 3.2% and IHS superior 9.4%.

Nikola — Shares of Nikola dropped 24.4% after General Motors gave up its fairness stake in the electrical automobile maker as a part of a smaller deal between the two firms. In September, the two firms introduced a $2 billion deal that gave GM an 11% stake in Nikola to provide battery and fuel-cell applied sciences. GM had additionally agreed to construct Nikola’s Badger pickup truck. Under the new deal, GM is not going to construct the truck.

Apple — The tech big superior more than 1% after bullish feedback from Wall Street. Loop Capital Markets upgraded the inventory to a purchase ranking and set a $131 per share goal, which is about 12% above the place the inventory closed Friday. Separately, Morgan Stanley stated early indicators point out that iPhone 12 gross sales are surpassing expectations.

Salesforce, Slack — The messaging platform popped more than 4% after CNBC’s David Faber reported Salesforce’s deal to purchase Slack is predicted to be introduced Tuesday after the market shut. Shares of Salesforce misplaced more than 3% in noon buying and selling Monday.

Delta Air Lines — Shares of the airline ticked practically 2% decrease after Raymond James downgraded the inventory to market carry out from outperform. The name was primarily as a result of valuation.

Bank of America — The financial institution was downgraded to underweight from chubby by an analyst at Morgan Stanley. The analyst stated Bank of America’s “tighter underwriting standards post crisis limit both their downside going into a recession and their relative upside coming out of one.”

Carnival Corp – Shares of the cruise operator fell more than 4% amid a sell-off in firms delicate to the financial system reopening. Royal Caribbean and Norwegian Cruise Line every slid 2%, whereas retailers Gap and Macy’s declined by more than 4%. The vitality sector, which is by far the best-performing S&P 500 grouping this month, additionally declined, with Chevron and Exxon dipping 2%.

—CNBC’s Pippa Stevens and Maggie Fitzgerald contributed to this report.

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