Pfizer (PFE)
Last week biotech company Pfizer (PFE) saw an 8% increase in share price after-hours, following their announcement of a 90% effective COVID-19 vaccine.
In general, Pfizer is a tremendously successful company that has established a $202.2 billion market capitalization over years of drug manufacturing and production. They own name brand drugs such as Advil, Robitussin, and Viagra, as well as household items like Chapstick, and even produce laboratory equipment.
Already a giant of the industry, with the vaccine announcement and accompanied by their steady earnings growth over the past 5 years (14%), Pfizer is on track to further their status as one of the most trusted biotechnology companies in the world.
General Electric (GE)
In light of recent events, GE looks to finally return to its place as one of the most actively owned and traded stocks in history. During the coronavirus pandemic, the company saw a significant drop in share price because of cut dividends, a removal from the Dow Jones Industrial Average (DJIA), and losses due to sharp decline in air fare.
Despite this, GE decreased their spending and switched business models. They began manufacturing masks and ventilators, allowing for a profitable quarter. Clearly, GE’s management has proven more than capable of adapting during tough times and due to this they have rebounded 40% from their low of 2020. Assuming the pandemic doesn’t significantly impact company performance in the future, GE hopes to maintain this position.
Plug Power (PLUG)
The announcement of president-elect Joe Biden’s victory prompted significant gains for the renewable energy market. With Biden’s strong anti-fracking position and promise to rejoin the Paris Climate Accord, renewable energy companies skyrocketed in hopes of government funding for these projects.
One company, Plug Power (PLUG) saw a 30% increase this week. Plug Power is a solar cell company that has been around since 1999 and is responsible for many of the rooftop solar panels in America. The Biden administration provides the prospect of government funding for oil alternatives and thus, gives Plug Power hope.
