Because Pfizer’s Covid Antiviral Appears to Actually Work, the company’s stock is soaring

Shares of Pfizer Inc. jumped after the vaccine producer revealed a study showing that its COVID-19 antiviral medicine is effective in fighting the infection. Investors’ optimism about stocks and the economy was bolstered by the report.

A strong employment report and confidence about Pfizer’s antiviral medicine treatment for COVID-19 pushed the S&P 500 to new high.

Zhiwei Ren, managing director and portfolio manager at Penn Mutual Asset Management, said in a phone interview Friday that “you see a massive rotation towards the reopening trade.” It looks that people may be able to “to take a tablet when they get sick” from COVID in order to avert serious illness from Pfizer’s news.

During Friday’s trading, shares of Expedia Group Inc. EXPE surged 15.6 percent, according to FactSet data. Royal Caribbean Group RCL and concert promoter Live Nation Entertainment Inc. LYV both rose more than 15 percent.

www.ebtedge.com Activate : How To Activate Your Mountain State EBT card

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.

https //covid-19 ontario.ca/ : COVID-19 vaccines

The company also provides medicines and vaccines in various therapeutic areas, such as pneumococcal disease, meningococcal disease, tick-borne encephalitis, and COVID-19 under the Prevnar 13/Prevenar 13 (pediatric/adult), Nimenrix, FSME/IMMUN-TicoVac, Trumenba, and the Pfizer-BioNTech COVID-19 vaccine brands