Companies are making headlines in premarket trading.
The vaccine maker's shares were up more than 10% in early morning trading on Monday after gaining 20% on Friday. Moderna could roll out a reformulated vaccine against Covid early next year, according to the company's chief medical officer.
Major airlines rose as investors bought the dip following new travel suspensions in Asia and Europe, in response to the newly discovered omicron variant of Covid-19. United, Delta and American Airlines all gained 1%. The travel booking site rose 2%.
Carnival, Royal Caribbean Cruises and Norwegian Cruise Line rose more than 3% as the broader rebound in travel stocks from Friday's omicron-driven sell-off continued.
Several analysts initiated coverage of the stock of Allbirds. Bank of America and Morgan Stanley both had price targets of $23, implying a 16% upside to Friday's close.
The price of bitcoin rebounded and the shares of the exchange rose more than 2%. Microstrategy rose 3.4%, as othercryptocurrencies got a lift too. The companies added more than 1%.
Following a 5.7% jump on Friday, the shares of Zoom fell 2%, moving in the opposite direction of travel stocks. Other stay-at- home stocks also dipped Monday morning.
The pharmaceutical company's shares fell 1.8% after Citi lowered its stock to neutral from buy, saying development struggles for the company's HIV drug islatravir will hurt its long-term potential.
According to a report by the South China Morning Post, the Macao gaming sector is lower after the head of Macau's biggest casino junket operator and 10 others were arrested over allegedly illegal gambling platforms targeting mainland Chinese. Wynn and Las Vegas Sands both fell.
