Hot Stocks: COVID vaccine rally; APRN jumps; VLO sets high; GPN, MCO fall on earnings news
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Stocks managed to bounce back from recent weakness on Monday, finishing the session higher after an early dip that extended selling seen late last week. The Nasdaq, which fell more than 4% on Friday, led Monday's rebound, gaining 1.6% on the day.
Among the winners on the session, COVID vaccine stocks saw a boost. A setback for a competing product from Pfizer (PFE) prompted buying of shares of (NASDAQ:MRNA), BioNTech (NASDAQ:BNTX) and Novavax (NASDAQ:NVAX).
Looking at individual stocks, Blue Apron (APRN) represented one of the day's standout gainers. The stock expanded its value by more than a third after revealing a refinancing plan. 
Meanwhile, a positive analyst comment inspired additional gains in Valero Energy (VLO), which expanded its recent upswing to reach a new 52-week high.
Turning to some of the day's standout losers, Global Payments (GPN) slipped following the release of quarterly results. Earnings news also hurt Moody's (MCO), which fell to a new 52-week low. 
Sector In Focus
A setback for a COVID-19 pill from Pfizer (PFE) gave a lift to companies focused on selling vaccines for the virus. Moderna (MRNA), BioNTech (BNTX) and Novavax (NVAX) all posted gains.
PFE revealed that its Paxlovid did not meet the main goal of a mid-stage trial investigating the product as a possible prevention of COVID infection. Still, the drug remains indicated for at-home use by high-risk COVID patients. 
Of the vaccine makers, NVAX received the biggest jolt, rising 19% on the day. Last week, NVAX inspired some investor interest after news that the FDA had set a June meeting to review the firm's COVID vaccine.
MRNA climbed 6% on Monday, while BNTX, which has partnered with PFE on a COVID vaccine, rose about 5%. 
Standout Gainer
Blue Apron (APRN) surged after investors cheered an updated turnaround plan from the meal kit delivery company. The stock jumped nearly 34% on the news. 
The company announced that it has secured a $40M private placement from RJB Partners and a $500K investment by president and CEO Linda Findley. In addition, the firm revealed the refinancing of existing debt with $30M of senior secured notes.
âWe also view this planned debt refinancing as a smart, strategic move during a time of rising interest rates," Findley noted.
APRN soared $1.02 to finish at $4.04. The gains allowed the stock to rally off a 52-week low of $2.15 reached last week. Even with the advance, the stock remains 40% lower year to date.
Standout Loser
Investors reacted badly to guidance included in the latest earnings release from Global Payments (GPN), sending the stock lower by nearly 9%. 
The payment technology company topped analysts' expectations with its Q1 earnings. However, its revenue total merely met consensus and the company gave a lackluster top-line forecast, reiterating its previous forecast.
On other fronts, GPN showed optimism. The company raised its projection for 2022 adjusted margin by up to 125 basis points.
GPN plunged $12.62 to finish at $124.36. Shares have now fallen to the low end of a recent trading range, approaching a 52-week low of $116.74.
Notable New High
Valero Energy (VLO) gained nearly 5% on Monday, building on recent upward momentum and setting a fresh 52-week high. The latest leg up came as Morgan Stanley included the stock on its list of highest conviction stock picks.
On VLO, Morgan Stanley said: "We are broadly constructive on the refining cycle, and VLO is the most 'pure play' large cap within the group. Its asset base is well-managed, and we think VLO will continue to execute and drive substantial earnings growth as the refining cycle advances."
VLO finished Monday's trading at $116.60, an advance of $5.19 on the day. During the session, the stock set an intraday 52-week high of $116.68. 
Looking longer-term, VLO has been rising since the second half of December. Shares have now climbed about 51% in 2022.
Notable New Low
Moody's (MCO) stumbled to a new low after the financial rating agency included weak guidance in its latest earnings release. Hurt by the earnings news, the stock dropped almost 5%. 
The company largely matched expectations with its Q1 results, with revenues that slipped 5% from last year to $1.52B. Looking ahead, the company cut its forecast for adjusted EPS in 2022. 
MCO now sees adjusted EPS for the year between $9.85 and $10.35, below the $10.75-$11.25 that was previously predicted. Analysts were looking for a figure around $11.88.
With the disappointing forecast, MCO dropped to an intraday 52-week low of $287.01 early in the session. It recovered some of its losses later in the day but still retreated $14.86 to close at $301.13. 
The stock had set a previous 52-week closing low of $301.31 in mid-March. It bounced off that level later in the month but has trailed back to the downside lately. All told, MCO has fallen about 22% in 2022.

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