Markets moved away from Covid-19 vaccines and on to obesity drugs like Novo Nordisk (NVO) and Eli Lilly (LLY). Although those are strong stocks to own, NVO stock indicated a bearish “double top” pattern. Unusually Moderna (MRNA) shares broke out in recent sessions. The stock gained 39% in the last month on optimism about its vaccine value.
On May 17, 2024, the European Patent Office upheld the validity of Moderna’s Covid vaccine. This is a setback for Pfizer (PFE) and BioNTech (BNTX). It sets the stage for Moderna to release more mRNA-based vaccines.
In the tourism sector, Carnival Cruise (CCL) gained 7.27% on Monday to close at $16.09. The stock continues to cycle toward the $16 share price. The firm continues to attract tourists, growing its bookings. The higher cash flow will facilitate Carnival’s debt payback schedule.
Royal Caribbean (RCL) is just an attractive trade as CCL stock. At 52-week highs, investors should avoid chasing the stock.
Norwegian Cruise (NCLH) gained 7.56% on Monday. The firm increased its guidance, lifting the cruise ship stock sector. The firm expects an operational EBITDA margin of around 39%. It will reduce its net leverage to around 4.5 times. It expects an EPS of $1.42, up from $1.32 previously.
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