Dave & Buster's Jumps on Coronavirus Vaccine Hopes

Dave & Buster's and other restaurant stocks benefited from renewed optimism about a coronavirus vaccine.
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Shares of restaurant and entertainment franchise Dave & Buster's (PLAY) - Get Report jumped as the restaurant industry got a bit of good news from the potential emergence of a coronavirus vaccine. 

Stocks were moving after Pfizer  (PFE) - Get Report said that it saw no serious safety concerns from its vaccine candidate and that later this month it would seek emergency-use authorization from the U.S. Food and Drug Administration.

Restaurants, travel and hospitality stocks helped push the Dow and S&P higher. 

The Dow set an all-time high intraday earlier in the session of 29,933 - the blue chip index last set a record on Feb. 12. The S&P 500 on Monday touched an intraday record 3,645.

 Pfizer received fast-track designation from the FDA in July based on preliminary data from Phase 1 and Phase 2 studies.

Its Phase 3 trial should be concluded in early December, Pfizer said, with analysis from around 164 infections.

The 90% efficacy rate, Pfizer said, was identified from the confirmed cases of 94 patients who received two doses of the vaccine.

Last month, Dave & Buster's proposed a private offering of $500 million of notes. 

The notes are senior secured, due in 2025. The company expects to use the proceeds from the offering to repay all amounts outstanding under its term-loan facility and to repay drawings under its revolving-credit facility.