Dow Jones Hits High Amid Coronavirus News As Tesla, Nio, Boeing Rally; Salesforce-Slack Deal Near? - Investor's Business Daily

BREAKING: Dow Futures Fall Amid AstraZeneca Vaccine News.

The Dow Jones and Nasdaq composite both hit record highs, as coronavirus vaccine progress from Moderna (MRNA) and AstraZeneca (AZN) and soaring coronavirus cases dominated the headlines.

While coronavirus news dominated the headlines, the stock market rally saw solid gains from real economy and stay-at-home stocks.

Last week, AstraZeneca (AZN) and Moderna (MRNA) went in opposite directions on coronavirus vaccine news.

On Monday, AstraZeneca slid after saying its coronavirus vaccine, co-developed with the University of Oxford was, on average, 70% effective in a key study.

In one dosage, it was 90% effective, still below the high standard set by the Moderna coronavirus vaccine, as well as the Pfizer (PFE) and BioNTech (BNTX) vaccine.

Two days later, Moderna jumped after signing a deal to supply the European Commission with at least 80 million doses of its coronavirus vaccine, with an option for 80 million more.

Slack stock surged Wednesday the news while Salesforce stock fell.  A growing appetite for acquisitions has been a drag on CRM stock.

One analyst speculated that Salesforce could pay a "low $40 take-out price, or nearly a $25 billion market value." Growing competition with Microsoft has been an overhang on Slack earnings since its June 2019 direct listing.

Off-price apparel retailer Burlington Stores (BURL) also beat, with EPS down 81% and sales down 6% to $1.67 billion.

VMware (VMW) said adjusted EPS rose 17% while revenue grew 8% to $2.86 billion, both beating.

Majority owner Dell Technologies (DELL) reported revenue climbed 3% to $23.5 billion while EPS rose 16%, both beating, helping by strong PC sales in the work-from-home trend.

Nutanix (NTNX) reported a narrower-than-expected loss while revenue fell a fraction to $312.8 million, both topping.

Revenue fell 4% to $410.6 million, above estimates for $406.5 million.

Medtronic (MDT) popped Tuesday after the medical products giant reported EPS fell 22% as sales dipped 0.8% to $7.65 billion in sales.

Analog Devices (ADI) reported a 6% sales gain to $1.53 billion in its fiscal Q4, after seven straight quarters of decline.

Deere (DE) saw EPS climb 12% while sales fell 2% to $9.73 billion.

Revenue missed views despite a 69% unit sales surge for Niu's sit-down electric scooters in the third quarter, building on Q2's 61% pandemic sales rebound.

Dow Jones futures fell Thursday as AstraZeneca said it'll likely run another coronavirus vaccine study.

Dow Jones futures fell Thursday as AstraZeneca said it'll likely..