Tuesday, March 2, 2021

Alibaba (BABA) Stock Surged For Not To Be Blacklisted, Johnson & Johnson (JNJ) Also Rose

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Alibaba Group Holding Limited (BABA) started its ascent with a +3.26 percent increase to $242.98. According to Reuters, the Trump administration has dropped attempts to add the company to the blacklist of Chinese firms with suspected military links, along with the search engine Baidu and the giant Tencent.

Johnson & Johnson (JNJ) climbed +1.75% to $160.65 on the day. Johnson and Johnson report that their single-dose vaccine is well on the way to deployment in March, with a goal of one billion doses administered during the year. In February, the group aims to provide strong vaccine efficacy evidence. Intermediate findings from a report published in the New England Journal of Medicine show that 90 percent of patients developed an immune reaction 29 days after the vaccine was given and for at least 71 days.

Tesla, Inc. (TSLA) fell to $845, down -1.1 percent on Thursday. Due to touch screen flaws that may pose safety hazards, the U.S. National Highway Traffic Safety Administration, NHTSA, has ordered Elon Musk’s company to recall 158,000 Model S and X cars.

Cisco Systems, Inc. (CSCO) fell by -0.46% to $45.15, while Acacia Communications, Inc. (ACIA) improved by +31.45% to $113.64. Also, Cisco has entered into a new deal to purchase Acacia Communications. The new contract is worth $4.5 billion. The US will pay $115 for each share of Acacia, ending months of uncertainty over the purchase. The US, Germany, and Austria had accepted the original agreement, but China had not validated the deal.

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