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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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Stocks rise on cyclical boost but megacaps curb gains

11/23/2020 | 02:56pm EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Vaccine could reach first Americans by mid-December

* Tesla nears $500 billion in market cap

* Surging coronavirus cases cap stock market gains

* Dow up 0.85%, S&P 500 up 0.31%, Nasdaq up 0.06%

NEW YORK, Nov 23 (Reuters) - U.S. stocks rose in a choppy session on Monday as hopes for a COVID-19 vaccine boosted economically sensitive sectors such as energy and industrials, but a pullback in megacap shares held gains in check.

Cyclical sectors led gains, with energy ahead by more than 5% and industrials and financials each up more than 1%, as data showed monthly business activity expanded at the fastest rate in more than five years.

Energy shares also got a boost from oil prices, which have risen on anticipation a vaccine will help demand recover.

But declines in technology and tech-related heavyweight names such as Apple Inc and Facebook Inc muted gains as investors rotated out of stocks seen as safe bets following a coronavirus-led crash earlier this year.

"More of a cyclical day, or value day, than a growth day, but not overwhelmingly. We've had two weeks of a cyclically dominated market and that was initiated by the vaccine," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

"The market is battling between those two styles of investing depending on the outlook of the virus versus the vaccine."

The Dow Jones Industrial Average rose 247.3 points, or 0.85%, to 29,510.78, the S&P 500 gained 10.95 points, or 0.31%, to 3,568.49 and the Nasdaq Composite index added 6.72 points, or 0.06%, to 11,861.69.

Evidence of high efficacy rates in experimental COVID-19 vaccines had lifted the S&P 500 to a record high this month and brought the blue-chip Dow close to breaching 30,000 points for the first time, breathing new life into cyclical stocks that were beaten down during the recession.

AstraZeneca Plc on Monday became the latest major drugmaker to say its vaccine could be around 90% effective, while the U.S. health regulator is likely to approve in mid-December the distribution of Pfizer Inc's vaccine.

Volume is expected to be on the lighter side given a trading week shortened by the Thanksgiving holiday on Nov. 26.

Sentiment was dented by new lockdowns to contain a surge in coronavirus infections with Nevada on Sunday becoming the latest state to tighten curbs on casinos, restaurants and bars, while imposing a broader mandate for face-coverings over the next three weeks.

Hopes of more monetary stimulus were dampened after Treasury Secretary Steven Mnuchin last week pulled the plug on some of the Federal Reserve's pandemic emergency lending programs.

Richmond Federal Reserve Bank President Thomas Barkin said on Monday that households could struggle over the next several months without more government aid to provide support until a vaccine becomes widely available.

Tesla Inc surged 6.6%, inching closer to hitting $500 billion in market capitalization ahead of its inclusion in the S&P 500 next month.

Advancing issues outnumbered decliners on the NYSE by a 2.96-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers.

The S&P 500 posted 28 new 52-week highs and no new lows; the Nasdaq Composite recorded 163 new highs and 10 new lows. (Reporting by Chuck Mikolajczak; Editing by Richard Chang)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -1.37% 127.14 Delayed Quote.-4.18%
ASTRAZENECA PLC 0.44% 7592 Delayed Quote.3.66%
DJ INDUSTRIAL -0.57% 30814.26 Delayed Quote.1.26%
FACEBOOK INC 2.33% 251.36 Delayed Quote.-7.98%
LONDON BRENT OIL -2.91% 54.8 Delayed Quote.9.17%
NASDAQ 100 -0.73% 12803.932503 Delayed Quote.-0.65%
NASDAQ COMP. -0.87% 12998.502287 Delayed Quote.0.86%
PFIZER INC. -0.14% 36.7 Delayed Quote.-0.30%
S&P 500 -0.72% 3768.25 Delayed Quote.0.32%
TESLA, INC. -2.23% 826.16 Delayed Quote.17.07%
WTI -3.09% 52.11 Delayed Quote.11.60%
All news about ASTRAZENECA PLC
01:32aTHE LATEST : Pakistan approves Oxford-AstraZeneca vaccine
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01/16THE LATEST : Biden elevates science adviser to Cabinet level
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01/16ASTRAZENECA : India starts world's largest COVID-19 vaccination drive
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01/15MODERNA : WHO sees poorer countries getting first COVID vaccines this quarter
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01/15SINOVAC BIOTECH : Brazil airlifts emergency oxygen into pandemic-struck state, v..
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01/15ASTRAZENECA : Deutsche Bank Initiates Coverage on AstraZeneca With Buy Rating
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01/15European ADRs Move Sharply Lower in Friday Trading
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01/15South Africa's mining industry to support COVID-19 vaccine rollout
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01/15ASTRAZENECA : Nepal clears AstraZeneca vaccine for emergency use
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01/15ASTRAZENECA : Buy rating from Deutsche Bank
MD
More news
Financials (USD)
Sales 2020 26 400 M - -
Net income 2020 2 992 M - -
Net Debt 2020 13 217 M - -
P/E ratio 2020 43,0x
Yield 2020 2,73%
Capitalization 135 B 135 B -
EV / Sales 2020 5,63x
EV / Sales 2021 4,89x
Nbr of Employees 70 600
Free-Float 95,7%
Chart ASTRAZENECA PLC
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AstraZeneca PLC Technical Analysis Chart | MarketScreener
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Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 126,21 $
Last Close Price 103,14 $
Spread / Highest target 51,3%
Spread / Average Target 22,4%
Spread / Lowest Target -18,5%
EPS Revisions
Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
ASTRAZENECA PLC3.66%135 464
JOHNSON & JOHNSON1.86%421 997
ROCHE HOLDING AG2.48%305 385
NOVARTIS AG1.97%218 041
MERCK & CO., INC.1.93%210 954
PFIZER INC.-0.30%203 993