The Dow, the S&P 500, and the Nasdaq are all up Monday after strong earnings reports and positive news from vaccine studies. The Tech Midday Movers share insight into what is happening in tech stocks Monday. TheStreet also discusses the five stocks moving the market Monday.
TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning with Jim Cramer. Cramer spoke about how to trade Amazon shares, how bad will things get for Disney and the latest Pfizer news in the UK.
Amazon Stock: Buy or Sell?
Amazon had its price target raised by Goldman Sachs and Jeffries as analysts at both believe the strength of their e-commerce business will help raise the shares higher. Amazon announced last week that it was expanding in Austin, Texas and hiring 1,000 jobs. Annie Gaus worked on a report about Amazon sellers spending more money on ad space during the coronavirus pandemic.
Cramer loves Amazon but says you shouldn't put all your money behind the e-commerce giant and should still diversify your portfolio.
Disney Stock: Buy or Sell?
Disney announced that it is banning eating and drinking while walking but will this be enough to help prevent the potential spread of coronavirus at its parks? This is one of the unfortunate obstacles that Disney is attempting to navigate as it tries to open its parks and generate revenue during the pandemic. Disney shares got more bad news last week when the company was downgraded by Cowen due to the impact of the coronavirus pandemic.
Cramer talks about the state that Disney is in right now and what it will look like for their company during the pandemic.
Pfizer Stock: Buy or Sell?
Pfizer PFE said Monday that it will supply at least 30 million doses of its experimental coronavirus vaccine to the U.K. government once it's approved. After the news came out, Prime Minister Boris Johnson said 'we're not there yet' in terms of a global solution. Cramer said he doesn't understand the negativity coming from Johnson about the timing of the vaccine following the news.
Cramer talks further about the response from Johnson on the Pfizer vaccine news.
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