Trending Stock Market News Monday: Albertsons, Mercedes

Albertsons dropped Monday despite a strong quarter after the company said the growth it saw during the start of the coronavirus lockdown was slowing.
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U.S. equities had a bounce-back session Monday after disappointing unemployment numbers last week weighed on the major indices to close out the week. 

The Nasdaq was the biggest rebounder, gaining more than 1.3% in Monday's session, while the S&P 500 gained 0.5% and the Dow rose 0.15%. 

Here are some Wall Street stories you may have missed Monday. 

Albertsons Drops Despite Earnings Beat on Slowing Demand 

Shares of grocer Albertsons Companies  (ACI) - Get Report dropped 5% Monday despite strong earnings after the company signaled slowing demand in the current quarter amid easing coronavirus lockdown restrictions. 

The company expects July sales growth to be less than it was during the previous quarter as customers flocked to stores amid the initial coronavirus pandemic lockdown. Albertsons' IPO was in June and IPOs on TheStreet broke down what it will mean for the stock.

U.S. Doubles Potential Virus Vaccine Spending to $1 Billion

The U.S. is spending nearly $1 billion to help expedite the development of a potential coronavirus vaccine being manufactured by Moderna  (MRNA) - Get Report

The government committed an additional $472 million on top of an initial $483 million investment in order to help Moderna mass-produce a viable vaccine to combat the disease which has killed nearly 650,000 globally. 

Mercedes to Moth Ball Seven Models

Mercedes is planning to phase out as many as seven of its models, reversing the company's recent push to increase the number of models it offers, sources told Yahoo. 

The move is designed to help the company cut annual costs in order for it to invest more money into electrification and autonomy, dealer sources told Yahoo.