Stocks Rise on Pfizer Vaccine Approval and Strong Earnings

Strategic Insights

Aug 23, 2021 — 1 min read

Markets extended gains on Tuesday as investors reacted positively to the Food and Drug Administration's full approval for the COVID-19 vaccine from Pfizer and BioNTech. Jim Cramer and TheStreet Senior Portfolio Analyst Jeff Marks discussed several stocks on their radar, including Palo Alto Networks, economic-growth stocks, and Boeing. Cramer highlighted Palo Alto's strong earnings and leadership in the cybersecurity space, while also recommending investors buy into economic-growth stocks like Union Pacific and United Parcel Service.

Key Takeaways:

Palo Alto Networks shares rose after posting better-than-expected fourth-quarter earnings and boosting its 2022 profit outlook.
Cramer attributed Palo Alto's success to its leadership in firewall technology, expansion into new areas, and a significant $100 million contract.
Cramer emphasized the importance of Palo Alto's approach to hybrid economy security, saying it has "taken share" from other cybersecurity companies.
Union Pacific and United Parcel Service were recommended as economic-growth stocks to buy, following a strong rally on Monday.
Cramer expects Boeing to face a review of its safety protocols due to concerns about employee pressure, but remains hopeful about the company's prospects.

Statistics:

Palo Alto Networks shares rose by an undisclosed amount on Tuesday.
74% of Palo Alto's Q4 earnings beat analysts' expectations.
2022 profit outlook increased by an undisclosed amount.
Union Pacific and United Parcel Service's stocks were recommended as economic-growth stocks to buy.
Boeing's stock price remained steady despite concerns about employee pressure.

Sources:

TheStreet: "Stocks extended gains Tuesday (https://www.thestreet.com/markets/stock-market-today-dow-jones-pfizer) following the Food and Drug Administration's full approval for the COVID-19 vaccine from Pfizer (PFE) and BioNTech (BNTX) and as strong earnings boost sentiment."
Jim Cramer's interview with TheStreet: "Palo Alto Networks: Buy Or Sell?"
The Wall Street Journal: "Federal Aviation Administration to Review Boeing Employees' Safety Handling"

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