The Dow, S&P 500 and Nasdaq rose on Monday after strong earnings reports and positive news from vaccine studies. Tech Midday Movers share information about what’s happening in tech stocks on Monday. TheStreet also looks at the five stocks that move the market on Monday.
TheStreet’s Katherine Ross discussed the latest news on the Street Lightning stock market with Jim Cramer. Cramer talked about how to trade Amazon shares, how bad things will get for Disney, and the latest news from Pfizer in the UK.
Amazon stocks: buy or sell?
Goldman Sachs and Jeffries raised their target price, as both analysts believe the strength of their e-commerce business will help boost stocks. Amazon announced last week that it was expanding in Austin, Texas and hiring 1,000 jobs. Annie Gaus worked on a report on Amazon sellers spending more money on ad space during the coronavirus pandemic.
Cramer loves Amazon, but says he shouldn’t put all his money behind the e-commerce giant and that he still needs to diversify his portfolio.
Disney Stock: Buy or Sell?
Disney announced that it is banning eating and drinking while walking, but will this be enough to help prevent the possible spread of the coronavirus in its parks? This is one of the unfortunate obstacles that Disney is trying to navigate while trying to open its parks and generate revenue during the pandemic. Disney shares received more bad news last week when Cowen downgraded the company’s rating due to the impact of the coronavirus pandemic.
Cramer talks about the state Disney is in right now and what his company will look like during the pandemic.
Pfizer Stock: Buy or Sell?
Pfizer PFE said on Monday it will supply at least 30 million doses of its experimental coronavirus vaccine to the UK government once it is approved. After the news broke, Prime Minister Boris Johnson said “we are not there yet” in terms of a global solution. Cramer said he doesn’t understand Johnson’s negativity about the timing of the shot after the news.
Cramer talks more about Johnson’s response in the news about the Pfizer vaccine.
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