Stocks finished higher Monday, with the S&P 500 and the Nasdaq setting record intraday and closing highs, on news of progress in the efforts to develop coronavirus treatments and vaccines.
The FDA issued emergency use authorization for convalescent plasma as a treatment for covid-19 in hospitalized patients, the Trump administration said.
Here are some of the top gainers Monday:
1. Kamada | Percentage Increase Over 17%
Kamada (KMDA) - Get Report shares climbed after President Donald Trump said the Food and Drug Administration issued an emergency use authorization for convalescent plasma therapy to treat hospitalized covid-19 patients. Kamada is the Rehovot, Israel, developer of plasma-derived biopharmaceuticals.
2. Gap | Percentage Increase 7%
Gap (GPS) - Get Report shares advanced as the clothing retailer prepares to release second-quarter earnings on Thursday. While the company suffered during the coronavirus pandemic shutdown, its has seen strong online demand during the pandemic, driven by growth in the Old Navy and Athleta brands. In addition, the majority of stores have reopened.
3. LG Display | Percentage Increase Over 12%
LG Display (LPL) - Get Report American depositary receipts advanced as the Seoul consumer electronics company said it provided the first transparent OLED displays for subway train windows in Beijing and Shenzhen, China. The displays present information on subway schedules, locations, transfers as well as flights and lifestyle information such as news and weather on selected trains.
4. Olin | Percentage Increase Over 10%
5. TravelCenters | Percentage Increase Over 29%
TravelCenters (TA) - Get Report jumped after BTIG analyst James Sullivan initiated coverage of the company with a buy rating and $34 price target. Sullivan said he was positive on the company's new management and stronger balance sheet. He also cited TravelCenters' position in the the long-haul-trucking industry, which is projected to grow tonnage 1.2% and revenue 1.8% annually through 2030.