Monday’s Headlines: Amazon’s Covid Plans Grow

Monday’s Headlines: Amazon’s Covid Plans Grow

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

RH (RH) +9.3%

Boston Beer Co. (SAM) +7.7%

Arista Networks (ANET) +6.6%

American Tower (AMT) +5.1%

ServiceNow (NOW) +4.8%

Moving Down ⬇️

DraftKings (DKNG) -3.4%

Roku Inc. (ROKU) -3.4%

Tesla Motors (TSLA) -3.4%

IMAX (IMAX) -3.0%

StoneCo (STNE) -2.9%

1. Did anyone have ‘Amazon (AMZN) developing at-home COVID-19 kits’ on their 2021 bingo card? Well, if you did, you’re in luck because the e-commerce leader has received authorization from the Food and Drug Administration (FDA) for a COVID-19 test that it hopes to use to bolster its employee screening program. The nasal swab test is being developed by Amazon subsidiary STS Lab Holdco and is to be offered to its staff, with plans unclear as of yet whether Amazon will release the kits commercially. This development evidences yet another advancement into the medical space from Amazon. Read the full story here.

2. Following a record close on Friday for all three major indexes, stock futures are in decline this morning. Last week, the blue-chip Dow Jones closed about 450 points higher, the S&P 500 (VOO) climbed 1.7% to hit a record closing high, while the tech-heavy Nasdaq Composite wiped out a 0.8% loss early in the day to end Friday 1.2% higher. Amid ongoing uncertainty around economic reopening, rising COVID-19 cases, and what Billy Joel would describe as “trouble in the Suez”, investors are expecting a week of volatility ahead. Strap yourselves in folks! Read the complete report here

3. Another week, another hastily deleted Elon Musk tweet to dissect, with the eccentric Tesla (TSLA) CEO giving some interesting predictions on Friday. Musk tweeted early Friday morning that “I think there is a >0% chance Tesla could be the biggest company” in response to a follower suggesting the automaker could be bigger than Apple (AAPL), and added, “probably within a few months” in replies to followers. Musk and Tesla are currently in hot water regarding the former’s Twitter escapades, the most recent clashes with governing bodies including allegations of Bitcoin price manipulation as well as potentially threatening employee unions. Read the full article here.

JamieJamie

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