Hot Stocks: COVID vaccine stocks rise; STNE jumps on earnings; GFS hits high; BBAI, AMBC plunge
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Wall Street continued its recent rebound on Friday, notching its fourth consecutive day of gains. The Nasdaq led the advance again, rising by 2.1% while the S&P 500 advanced 1.2%.
COVID vaccine makers were among the standout performers during the day. The sector got a lift from Moderna's (NASDAQ:MRNA) request for regulators to approve a second booster shot. BioNTech (BNTX) and Novavax (NVAX) rose as well.
StoneCo (STNE) also stepped into the spotlight, jumping more than 40% following its earnings report. GlobalFoundries (GFS) showed strength as well, building on a recent rally and setting its highest mark since coming public last year.
On the other side of the ledger, BigBear.ai (BBAI) lost more than a fifth of its value following a disappointing earnings report. Ambac Financial (AMBC) also plunged, dragged to a 52-week low by an unfavorable court ruling.
Sector In Focus
COVID vaccine makers got a boost after one of the big players in the industry asked regulators to approve a fourth dose of the product to protect against the virus.
Moderna (MRNA) announced that it has asked the U.S. Food and Drug Administration to consent to a second booster shot for all adults. The firm said that the CDC and individual doctors would determine who should get the additional jab, but the wide authorization would give them as much discretion as possible.
Following the news, MRNA, which derives much of its revenue from its COVID vaccine, climbed over 6% on the session. At the same time, rival vaccine maker BioNTech (BNTX) posted a gain of almost 6%, while Novavax (NVAX) advanced about 4%.
Standout Gainer
StoneCo (STNE) surged more than 42%, bolstered by a standout earnings report and aggressive commentary from its CEO.
The Brazil-based payment processor reported quarterly revenue that jumped 87% from last year, despite a headwind from COVID. Meanwhile, the firm predicted even faster growth for Q1, with revenue projected to rise between 113% and 119%.
In addition, the firm's CEO detailed steps STNE plans to take to reorganize this year, including splitting into two operating segments. The firm also plans to relaunch its credit offering this year.
STNE jumped $4.04 on Friday to close at $13.65. The stock, which traded above $90 in early 2021, fell steadily through the rest of last year and into the beginning of this year. Shares eventually reached a 52-week low of $8.05.
Friday's advance allowed the stock to post its highest finish since early February.
Standout Loser
A weak earnings report sparked massive selling in shares of BigBear.ai (BBAI). The stock finished the day lower by more than 22%.
The AI analytics firm, which came public in December through a SPAC deal, reported a loss for its latest quarter that was dramatically wider than analysts had predicted. Revenue also came in short of expectations.
Looking ahead, the company predicted a top-line figure between $175M and $205M. Analysts are looking for a figure of $183M.
Weighed down by the bottom-line disappointment, BBAI recorded a decline of $1.85 on the session, ending the day at $6.44. 
Friday's retreat reversed gains posted earlier this month, with the stock reaching its lowest level since early March.
Notable New High
GlobalFoundries (GFS) posted another day of gains on Friday, adding to a recent upswing. The stock advanced another nearly 7% during the session, reaching its highest level since coming public in October.
GFS came public in late October in an IPO priced at $47 a share, valuing the computer chip maker at $26B. Shares found early support, surging to a level above $70 by the end of November.
However, the stock dropped from there, caught up in the general tech retreat that marked the early part of 2022. Shares eventually reached a post-IPO low of $43.59, spending time below its IPO price.
GFS bounced off that low in late January and has found additional support since late February. The gains have accelerated recently, with notable rallies in each of the last four sessions, including a nearly 13% jump on Tuesday.
Shares advanced $4.87 on Friday to close at $76.78. During the session, GFS also reached a new intraday post-IPO peak of $77.
Notable New Low
A court decision sent shares of Ambac Financial (AMBC) spiraling, with the stock losing nearly 23% during the session. The retreat took shares to a new 52-week low.
The slide followed an unfavorable ruling from the New York Court of Appeals in a case involving the firm's Ambac Assurance Corp. The suit relates to its insured residential mortgage-backed securities transactions.
AMBC finished Friday's session at $9.16, a decline of $2.66 on the day. Shares also reached an intraday 52-week low of $8.71.

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