IBM - Dow Jones Soars on Moderna Vaccine News; Home Depot IBM and Cisco Announce Acquisitions
More positive vaccine news lit a fire under the stock market on Monday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) up about 1.4% at noon EST. Moderna announced that an independent data-safety monitoring board found that its coronavirus vaccine candidate had an efficacy rate of 94.5% in a large phase 3 trial. The company expects to have 20 million doses ready to ship in the U.S. by the end of 2020, and it's on track to manufacture as many as 1 billion doses globally next year.
Turning to individual stocks, there was a flurry of acquisitions coming from Dow components on Monday. Home Depot (NYSE: HD) announced an agreement to acquire HD Supply (NASDAQ: HDS) ; International Business Machines (NYSE: IBM) inked a deal to acquire TruQua; and Cisco Systems (NASDAQ: CSCO) is bringing Banzai Cloud under its wing.
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Dow Jones Soars on Moderna Vaccine News; Home Depot, IBM, and Cisco Announce Acquisitions