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MarketWatch MarketPulseJan 21, 2020
Novavax shares jump 60% in premarket trading
Shares of Novavax Inc. rallied 60% in premarket trading on Tuesday on heavy volume. The biotechnology company is developing vaccines, such as NanoFlu, its experimental season flu vaccine that is in late-stage clinical trials. Novavax said last week that it had received a fast-track designation from the Food and Drug Administration, an announcement that pushed up shares by 20%. Investors are paying close attention to the spread of a new coronavirus in Wuhan City, China. The company's stock is down 86% over the last 52 weeks, while the S&P 500 has gained 26%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 21, 2020
Uber is Morgan Stanley's top internet stock pick, stock rises
Morgan Stanley analyst Brian Nowak named Uber Technologies Inc. his top internet stock pick for 2020 on Tuesday, writing that the company is showing profit improvements in both its ride-hailing and Uber Eats businesses. The stock is up more than 4% Tuesday. "The two-player U.S. rideshare market continues to be more profit-focused and we expect the decline in available private funding for cash-burning competitors (post-WeWork) to make the non-U.S. markets more rational," he wrote. On the food delivery side, Nowak expects market consolidation in the U.S. and a more rational approach to the company's footprint overseas. Uber announced Tuesday that it had divested its India food-delivery business. Uber's shares have gained 20% over the past month, as the S&P 500 has risen 3.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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