Check out the companies making headlines midday on Monday:
Nikola — Shares of the electric-vehicle maker rose nearly 6% after a JPMorgan analyst said he sees a “less drama-filled” news flow for the company in 2021. “We expect Nikola to post a video of a functioning Tre in January. We look for a steady flow of updates for the truck in 2021, as test milestones are met,” the analyst said.
Myovant Sciences — Shares rose 25% after the company agreed to a collaboration with Pfizer to develop prostate cancer drug relugolix. The drug is also being explored for possible use in women’s health.
Weibo — The stock dropped more than 10% despite a better-than-expected quarterly report from the Chinese social media company. Weibo posted adjusted profit of 66 cents per share, 6 cents above Refinitiv estimates. Its revenue also came in above analyst forecasts. Some analysts flagged the slowdown in the company’s growth in average active daily users, however.
Astrazeneca — U.S.-listed shares of the drug maker gained more than 1% after multiple reports said that the company’s Covid vaccine, which was developed in partnership with Oxford University, is expected to be approved in the U.K. this week. The AstraZeneca shot would likely be rolled out next week if approved in the next few days.
Apple — Shares of the tech giant advanced more than 3% amid strength in Big Tech. The advance comes after Apple posted its fourth straight week of gains.
Novavax — Shares dipped more than 2% after the biotechnology company said its coronavirus vaccine candidate entered a Phase 3 trial in the U.S. and Mexico. “This trial is a critical step in building the global portfolio of safe and effective vaccines to protect the world’s population,” said CEO Stanley Erck in a statement.
DoorDash — The food delivery company fell 3.8% after a Wall Street Journal column highlighted how a new bill in California could hurt delivery services. The regulation would require businesses to have stated agreements with restaurants, potentially hurting the growth strategy for some services.
CNBC’s Pippa Stevens, Jesse Pound and Yun Li contributed to this report.