US Markets
U.S. stocks were in the green on Monday morning on positive news about another Covid-19 vaccine candidate. The Dow gained more than 1.37% to 29,479, the S&P 500 index jumped 1.36% to 3,585 and the Nasdaq Composite Index was up 1.02%, to 11,829.
Moderna (MRNA, Financial)'s experimental Covid-19 vaccine was 94.5% effective in preventing the disease based on interim data from a late-stage clinical trial.
Gainers
• Marathon Petroleum Corporation (MPC, Financial) +3.9%
• Royal Caribbean (rcl) +3.7%
• PVH Corp (PVH, Financial) +6%
Losers
• Etsy Inc (ETSY)-2.3%
• Pfizer Inc. (PFE) -2%
• PerkinElmer, Inc. (PKI, Financial) -0.1%
• Zynga (ZNGA, Financial) -0.9%
Global Markets
The main European stock markets traded in the green. The U.K.'s FTSE 100 gained 1.91%, France's CAC 40 rose 2.18%, Germany's Dax gained 1.2% and Spain's Ibex 35 gained 3.08%.
In Asia, Japan's Nikkei 225 gained 2.05%, India's BSE Sensex advanced 0.45%, Hong Kong's Hang Seng jumped 0.86% and China's Shanghai Composite jumped 1.11%.
JD.com releases earnings report
Shares of JD.com, Inc. (JD, Financial) fell 2.8% on Monday morning after the company announced financial results for its third quarter of fiscal 2020. It posted earnings per share of 50 cents, beating analysts' estimates by 9 cents. Net revenues increased 29.2% year-over-year to $125.7 billion.
Chairman and CEO Richard Liu had the following to say:
"Today, as China emerges from the pandemic, we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure. And our consumer mindshare continues to expand with over 100 million new active users joining our platform compared to a year ago."
Chief Financial Officer Sandy Xu said:
"We are pleased to set new records across many of our financial and operating metrics this quarter. We delivered robust topline growth across all of our product lines as well as record profitability driven by improved operating efficiency and the realization of scale benefits. With solid profitable growth as our basis, we will continue to invest in technology and infrastructure to enhance our user experience."
At the end of September, Chris Davis (Trades, Portfolio) reduced hisinvestment in the stock by 14% to 3,206,065 shares, while Ken Fisher (Trades, Portfolio) cut his investment by 2% to 7,571,192 shares.
Disclosure: The author holds no positions in any stocks mentioned.
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