Nearly all the companies in the S&P 500 have now released their results for the third quarter, with positive surprises in terms of earnings for 84 percent of them. Ultimately, the earnings of the S&P 500 decreased by 6.3 percent in the third quarter relative to the same time in 2019, while analysts predicted a 21 percent decline at the end of September. The biggest declines were suffered in detail by three sectors: electricity, air transport and hotels/restaurants, both of which were plagued by the coronavirus crisis. Except these industries, profits were up 4.3% year-on-year, driven primarily by the healthcare sector (up 13%), as well as internet services, software, biotechnology, but also the automotive industry.
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On Monday, stocks of biotech firms especially involved in coronavirus vaccines traded in distributed order, including Astrazeneca Plc (AZN) down -1% on Wall Street, Pfizer Inc (PFE) lost -0.5%, BioNTech SE (BNTX) jumped up 2.3% on Wall Street, Moderna Inc (MRNA) surged 3.5% and Curevac N.V. Inc (CVAC) gained 6.7%.
The New Jersey laboratory, Merck & Co., Inc. (MRK) was down -0.2 percent at first session of the week as it has confirmed the $425 million acquisition of OncoImmune, which produces a medication that can alleviate symptoms of Covid and minimize deaths in patients with serious types.
Regeneron Pharmaceuticals Inc. (REGN) started the week with a rise of 0.97% on Monday. Emergency use authorization has been issued by the FDA to treat Covid-19 with a combination of antibodies developed by the community. During his hospitalization following coronavirus infection in October, President Donald Trump was given the treatment. For mild to moderate cases in adults following good results, the use of the medication was approved. In early November, the FDA had already approved the treatment of Eli Lilly for newly infected patients at risk of developing a serious form of the disease.
