Lululemon stock climbs ahead of S&P 500 inclusion
Shares of Lululemon Athletica Inc. LULU, +1.00% rallied more than 5% after index provider S&P Dow Jones Indices said the stock will join the S&P 500 index SPX on Wednesday.
Shares of Hubbell Inc. HUBB, -4.75% rose 2.7%, as the electrical company is also due to move to the S&P 500.Pfizer Inc. shares PFE, -2.46% fell 3% after the drugmaker slashed its outlook for the year late Friday due lower-than-expected demand for COVID products. Shares in BioNTech BNTX, -4.89%, which helps make Pfizer’s COVID vaccine, also declined 5%, alongside shares of other biotech drugmakers with exposure to COVID products like Moderna Inc. MRNA, -2.46% which dropped 4%.
Novavax Inc. NVAX, -5.37% shares fell 5%, also pressured by losses for Pfizer. As well, the Financial Times reported on Sunday that EU regulators had asked the biotech for more information about its variant-targeted COVID vaccine. Manchester United Ltd. MANU, +1.22% shares fell 10% after the Associated Press reported Qatar’s Sheikh Jassim bin Hamad Al Thani will rescind his bid to buy the English soccer team, potentially clearing the way for an offer British billionaire Jim Ratcliffe.
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