Here are the biggest market movers midday.
Moderna – The drugmaker saw its stock soar more than 22% after the company issued promising data about its cancer treatment. Moderna announced that its experimental melanoma vaccine combined with Merck cancer treatment Keytruda cut the risk of skin cancer recurrence or death by 44%, compared with a treatment of only Keytruda.
First Solar – The solar stock added 3% following an announcement on Monday that it will replace Fortune Brands Home & Security in the S&P 500. Fortune Brands, which is spinning off a division, will replace First Solar in the S&P MidCap 400 index. It added about 2%
Pfizer – The Covid vaccine maker gained 1% after Goldman Sachs upgraded the stock to buy from neutral, saying progress in other areas make the firm confident the stock will perform even as the need for its pandemic-related offerings decreases.
Oracle – Shares of the software company slipped more than 1%. Late Monday, the firm reported better-than-expected results in its fiscal second quarter as cloud infrastructure revenue jumped. However, Oracle did issue a lighter earnings forecast than analysts had predicted.
