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Dow Jones Today, Futures Mixed As Disney Stock Rallies On Earnings; FDA Broadens Moderna, BioNTech Use; Upstart Upgraded

Posted Date: August 13 2021
Stock futures hammered out an uneven premarket session Friday, amid mixed global trade. Disney hoisted the Dow Jones today, rallying after its fiscal Q3 report. BioNTech and Moderna again rallied, as the FDA broadened approval for their Covid vaccines. China stocks were weak, and chipmakers mixed. Meanwhile, IBD 50 stock Upstart Holdings rallied on an analyst upgrade.

Dow Jones futures firmed up almost 0.2%, aiming to add to an already strong week. S&P 500 futures inched just narrowly above fair value. Nasdaq 100 futures slumped less than 0.1%, as China-based stocks packed the bottom of the index. Small caps pared early losses, with Russell 2000 futures narrowing to a loss of less than 0.1%.
IBD 50 stock Moderna (MRNA) led the Nasdaq 100, up 2.9%, after the Food and Drug Administration approved the Pfizer (PFE)/BioNTech (BNTX) and Moderna (MRNA) Covid-19 vaccines as a third-application booster shot for patients with weak immune systems. BioNTech gained 3.2%. Pfizer rose 0.7%. All three stocks have been exhibiting signs of climax-run behavior.
Upstart Holdings (UPST) gained 2.7%, trading high on the IBD 50 list, after Barclays upgraded the stock to overweight. The note also boosted Upstart's price target to 230, from 130. Upstart rallied 34.8% for the week through Thursday, moving to within 8% of a 191.99 buy point in a deep 10-week cup base.
Aside from Disney stock, earnings news sent LMP Automotive (LMPX) up 12% and ZipRecruiter (ZIP) to an 11% gain. On the earnings downside, Cricut (CRCT) tumbled 25%. Figs (FIGS) took an 8% dive. DoorDash (DASH) dropped 3.5% and Airbnb (ABNB) backed off 2.2%.
Chicken meat producer Pilgrim's Pride (PPC) rocketed 20% higher after Brazil's JBS (JBSAY) proposed a buyout of the remaining 20% of the company it does not already own at 26.50 a share.

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