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American Airlines, Goldman Sachs, Exxon Mobil Fall Premarket; Peloton, Zoom Rise

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, November 26th. Please refresh for updates.

American Airlines (NASDAQ:AAL) stock fell over 7%, with Delta Air Lines (NYSE:DAL) and United Airlines (NASDAQ:UAL) following suit, after the emergence of a new Covid variant threatened global travel. Additionally, Carnival (NYSE:CUK) stock dropped over 10%, as did Royal Caribbean (NYSE:RCL) and Norwegian Cruise Line (NYSE:NCLH).

Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Wells Fargo (NYSE:WFC) and Morgan Stanley (NYSE:MS) all fell more than 3% on the reduced likelihood of early interest rate hikes if the Federal Reserve is worried by the new variant.

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Exxon Mobil (NYSE:XOM) stock fell 4.4% and Chevron (NYSE:CVX) stock dropped 3.9% after crude prices slumped on concerns that the new Covid variant will lead to a fresh slowdown in global demand.

Zoom Video Communications (NASDAQ:ZM) stock rose 7.9% and Peloton (NASDAQ:PTON) stock climbed 5.9% as the emergence of the new Covid variant raised fears that countries could bring back restrictions on movement of people.

Didi (NYSE:DIDI) ADRs fell 7% after authorities in China asked the ride-hailing firm to delist from the NYSE because of security fears.

Tesla (NASDAQ:TSLA) stock fell 1.8% after CEO Elon Musk sold almost one million more shares of the electric car manufacturer, according to regulatory filings posted late Tuesday, bringing his sale of the company’s equity to 9.2 million and worth about $9.9 billion.

Pfizer (NYSE:PFE) stock climbed 6.1%, BioNTech (NASDAQ:BNTX) stock rose 7.3% and Moderna (NASDAQ:MRNA) stock surged 8.8% with investors betting that these drugmakers will get additional business for their vaccines as a result of the new Covid news.

Merck (NYSE:MRK) stock fell 3.2% ahead of the FDA’s review of the drugmaker’s Covid-19 pill, jointly developed with Ridgeback Biotherapeutics.

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