Stocks with the biggest moves at noon: Merck, Moderna and more

Find out which companies are making the midday headlines.

Merck – Shares jumped more than 9% after announcing that its new antiviral pill reduced the risk of death or hospitalization for Covid patients by 50%. The pharmaceutical company plans to file an emergency use authorization request.

Moderna, Regeneron – Companies with other Covid-19 drugs fell after Merck’s oral pill showed positive data in a clinical trial. Moderna shares fell almost 13%, while Regeneron shares fell more than 5%.

United Airlines, Delta Air Lines, American Airlines, Southwest Airlines – Airlines shares rallied as Merck’s oral drug Covid showed promising results. United Airlines grew nearly 6%, Delta Air Lines more than 5% and American Airlines about 4%. Southwest Airlines also jumped more than 4% following a share upgrade by JPMorgan.

Penn National Gaming, Hilton Worldwide, Norwegian Cruise Line – Travel and entertainment shares have jumped following positive results from Merck’s Covid pill. Penn National Gaming grew over 6%, Live Nation Entertainment by around 5%, Hilton Worldwide by over 4% and Norwegian Cruise Line by almost 4.8%.

Lordstown Motors – Lordstown Motors saw its inventory drop by more than 15% after announcing a deal to sell its Ohio assembly plant to iPhone maker Foxconn for $ 230 million. Lordstown Motors shares were up 21% on Thursday as reports indicated the deal was on the way.

Zoom Video Communications – Zoom and Five9 have terminated what would have been a $ 14.7 billion deal. The shareholders of Five9 rejected the proposed acquisition by Zoom. Zoom shares gained 2.2% and Five9 shares rose 3.2%.

Walt Disney – Shares of the media giant have climbed 3% on news that Disney and Scarlett Johansson have settled a lawsuit involving the movie “Black Widow.” Johansson had sued Disney over the film’s release on the Disney + streaming service at the same time it was making its theatrical debut.

Exxon Mobil – The oil giant rose more than 2% after the company updated Wall Street on its expected third quarter results. In a filing with the Securities and Exchange Commission, Exxon said rising oil and gas prices could boost profits by $ 1.5 billion. Analysts at Bank of America said the company is on track to achieve its highest earnings per share since the third quarter of 2014.

International Flavors & Fragrances – Shares of International Flavors climbed more than 6% after the company announced that its chief executive Andreas Fibig was planning to retire. The company said Fibig will remain at the helm of the company until a successor is found.

– CNBC’s Jesse Pound and Maggie Fitzgerald contributed reporting