In this article we take a look at five stocks on the move on Tuesday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are On the Move on Tuesday.
5. Johnson & Johnson (NYSE:JNJ) is up around 0.5% after the company said trial data showed that a two dose version of the company’s vaccine provides 94% protection against symptomatic infection. Currently, Johnson & Johnson only has a single shot vaccine that’s been approved and that vaccine has considerably less effectiveness than the two shot version.
Johnson & Johnson (NYSE:JNJ) chief scientific officer Dr. Paul Stoffels’ said, “We now have generated evidence that a booster shot further increases protection against COVID-19 and is expected to extend the duration of protection significantly.”
Of the 873 elite funds we track, 88 were long Johnson & Johnson (NYSE:JNJ) at the end of Q2.
4. QuantumScape Corporation (NYSE:QS) has rallied 13% on Tuesday after the company announced it recently signed an agreement with a second top ten automotive original equipment manufacture by global revenues in which the OEM committed to collaborate with QuantumScape Corporation (NYSE:QS) to evaluate prototypes of QuantumScape Corporation (NYSE:QS)’s solid-state battery cells and to purchase 10MWh of capacity from the company’s pre-pilot production line facility for inclusion in pre-series vehicles, subject to satisfactory validation of intermediate milestones.
Jonathan Soros‘ JS Capital was long 2.295 million shares of QuantumScape Corporation (NYSE:QS) at the end of June.
3. Bausch Health Companies Inc. (NYSE:BHC) has rallied more than 7% after Chris Schott of JPMorgan said the sum of the parts value of Bausch Health Companies Inc. (NYSE:BHC) was around $40 per share, giving the stock considerable upside. Bausch Health Companies Inc. (NYSE:BHC) has outperformed the S&P 500 so far in 2021 with a year to date rally of 31%.
Carl Icahn‘s Icahn Capital LP was long more than 34.1 million shares of Bausch Health Companies Inc. (NYSE:BHC) at the end of June.
2. Blackstone Inc. (NYSE:BX) is up around 1.4% due to the broader market recovery. Given Blackstone Inc. (NYSE:BX)’s potential growth in China in the future, Blackstone Inc. (NYSE:BX) could also potentially benefit if China’s government moves to address the Evergrande situation. It isn’t clear whether China’s government will, however.
The number of elite funds we track that were long Blackstone Inc. (NYSE:BX) rose by 5 from the prior quarter to 54 at the end of June 30, 2021.
1. DraftKings Inc. (NASDAQ:DKNG) is down around 6% after sources told CNBC’s David Faber that DraftKings Inc. (NASDAQ:DKNG) is making a $20 billion offer to buy online sports betting company Entain. DraftKings Inc. (NASDAQ:DKNG) went public in 2020. Catherine D. Wood’s ARK Investment Management owned more than 13.6 million shares of DraftKings Inc. (NASDAQ:DKNG) at the end of June, 2021.
Disclosure: None.
