Traders have an assortment of stocks to bet on today. In the vaccine segment, Moderna (MRNA) may added to Monday’s 8.69% gain. Last week the Food and Drug Administration voted to recommend changes to the flu vaccines. It recommends converting quadrivalent flu vaccines to trivalent.
Renewed buying interest in electric vehicle automotive firms lifted Albemarle (ALB) by 5.43% yesterday. Markets are dismissing concerns about a stock dilution. On March 6, Albemarle priced its $2 billion equity offering. It upsized the offer from $1.75 billion, an indication of strong demand.
In the energy sector, EQT Corporation (EQT) harmed shareholders when it announced an all-stock deal to buy Mountain Valley Pipeline owner Equitrans (ETRN). ETRN stock gained 8.5% on Monday while EQT stock lost 7.76%. EQT is getting ETRN stock at a deep discount. Expect ETRN shareholders to vote “no” to the deal. This would force EQT to sweeten the deal.
Other energy stocks traded mixed. The direction of West Texas Intermediate crude depends on the direction of inflation rates. Continued inflationary pressure would indicate the economy is overheated. This increases demand for oil and gas. In addition, China reported an end to deflation. China’s CPI rose by 0.7% in February.
Investors may look at energy giants like Exxon Mobil (XOM). If China’s economy rebounds, mining firms like Rio Tinto (RIO) and Freeport-McMoRan (FCX) will thrive.
