This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are top 10 S&P 500 stock gainers for the week ended August 21:
Moderna and Merck Say Melanoma Skin Cancer Vaccine Meets Goals in Large Trial
Merck and Moderna, Inc. jointly reported positive results from their pivotal Phase 3 clinical trial Interpath-001, which met its primary endpoint of recurrence-free survival. Shares of Moderna, Inc. soared 129% for the week while Merck gained 12%.
The trial evaluated the individualized neoantigen therapy Intismeran Autogene in combination with Keytruda in patients with completely resected stage IIB-IV melanoma. Results showed that patients receiving the combination regimen experienced a substantial reduction in the risk of disease recurrence or death compared to standard adjuvant therapy, while safety data remained consistent with previously reported findings.
The two companies stated they plan to engage with regulatory authorities regarding submission filings for the combination therapy, aiming to advance it into the regulatory review process as quickly as possible. The complete trial data will be presented in detail at an upcoming scientific meeting.
Estee Lauder Jumps 18% After Forecasting Annual Profit Above Estimates on Strong China Demand
Estee Lauder forecast annual profit above Wall Street estimates on Wednesday, betting on sustained spending on premium fragrances and strong performance in key markets such as China, reflecting persistent gains from its CEO's turnaround strategy. Shares jumped over 18% for the week.
Resilient spending by affluent and younger customers, especially on trendy items, has helped boost demand for the cosmetics maker's luxury fragrances and skincare products such as Le Labo and Balmain Beauty.
To sustain that momentum, Estee has accelerated premium product launches, streamlined supply chain and ramped up investments in innovation and marketing under CEO Stephane de La Faverie's "Beauty Reimagined" strategy.
Crypto Stocks Rally as Bitcoin Records Best Week Since 2024 Amid Trump-Fueled Crypto Rally
Bitcoin recorded its best week in more than two years as investors continued to piled into digital assets after President Donald Trump called for Congress topass key legislation. Its 23% gain this week is its best weekly performance since March 2024, according to Dow Jones Market Data.
Crypto shares jumped this week with Coinbase rising 26%, Robinhood jumping 13%.
Digital assets have broken out of a long slump in recent days. Trump met with crypto executives at the White House on Wednesday and called for Congress to vote through the Clarity Act, which would regulate Bitcoin and other tokens as commodities instead of securities.
It wasn’t just Trump that boosted cryptos this week. Treasury Secretary Scott Bessent said on Wednesday that his department would boost longer-duration debt buybacks, which sparked a retreat in bond yields. Lower borrowing costs tend to lift cryptos because they make bonds and other interest-bearing assets less appealing and add liquidity to the market.
Comments