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Sunday, June 13, 2021

Moderna, GameStop, Amazon.com: Stocks That Defined the Week

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Moderna Inc.

MRNA 0.85%

Teens may soon have a second Covid-19 vaccine. Moderna said Thursday it has asked U.S. health regulators to authorize the use of its shot for those aged 12 to 17 as Americans continue to get vaccinated. Moderna and

Pfizer

also are studying their shots in children younger than age 12, and the companies said initial results from that testing could be available by the fall. Moderna shares fell 0.2% Thursday.

Apple Inc.

AAPL 0.98%

Apple is taking another bite out of the digital-advertising industry. Chief Executive

Tim Cook

kicked off the company’s weeklong Worldwide Developers Conference on Monday by announcing new features to help users control how their online data is used by third parties. Those changes, which will be introduced later this year, allow users to deny the ability of marketers to see if and when an email is opened through Apple’s Mail app and to hide IP address information to prevent tracking web usage on the Safari browser. This comes a year after Apple angered software developers by saying it would make it harder to track iPhone users’ digital footprints. Apple shares ended flat Monday and rose 0.7% Tuesday.

GameStop Corp.

GME 5.88%

GameStop is resetting its leadership team. The company named two

Amazon.comInc.

veterans as its chief executive and chief financial officer, and shareholders voted

Ryan Cohen

as chairman. Mr. Cohen, co-founder of online pet-supplies retailer

Chewy Inc.,

has spent seven months pushing for GameStop to move more quickly into e-commerce and away from its bricks-and-mortar roots, among other initiatives. GameStop’s elevated share price has helped it raise cash for its turnaround plan. The company brought in more than a half-billion dollars in April from a stock sale. GameStop shares added 0.9% Wednesday.

Campbell Soup Co.

CPB 0.85%

Shoppers’ appetite for Campbell has cooled. The soup maker’s pandemic-fueled surge in demand came to an end in the latest quarter as some customers returned to restaurants and offices, while higher costs cut into profits. Food makers received an unprecedented boost last year from the closures of restaurants, workplaces and schools that forced people to eat much more at home. Now, inflationary pressures also are hampering profits for food manufacturers just as more people are vaccinated against Covid-19 and the U.S. economy reopens. Campbell and others are raising prices to compensate for higher transportation, commodity and labor costs. Campbell shares lost 6.5% Wednesday.

United Parcel Service Inc.

Same-day delivery may be en route to UPS. The package-delivery company is testing the concept, Chief Executive

Carol Tomé

said Wednesday. The idea comes as the acceleration of e-commerce has pushed retailers to add more curbside and same-day delivery options. Amazon.com Inc., one of UPS’s biggest customers, and Instacart Inc. are among the current providers of same-day delivery. Food-delivery services such as

DoorDash Inc.

and

Uber Technologies Inc.

also have expanded into groceries during the pandemic. While UPS and rival

FedEx Corp.

have long provided overnight services, they generally don’t deliver packages on the same day they receive them. UPS shares fell 4.2% Wednesday.

Boeing Co.

Soaring domestic air travel is helping Boeing find new homes for its jets. Major U.S. carriers including

United Airlines Holdings Inc.

and

Alaska Air Group Inc.

are among recent buyers of 737 MAX planes that went unclaimed after buyers walked away or collapsed during the pandemic. The purchases have left the Chicago-based plane maker with around 10 stored MAX aircraft needing buyers. Last July, it counted around 100. Flights in the U.S. are on average 84% full amid a surge of summer travel, and carriers have responded by adding flights, making plans to bring back idled crew and hiring new pilots and flight attendants. Boeing shares lost 0.4% Friday.

Amazon.com Inc.

Big Tech may be forced to get a lot smaller. House lawmakers on Friday proposed bipartisan legislation that could require Amazon and other tech giants to effectively split into two companies or shed their private-label products. One of the proposed measures would mandate structural separation of Amazon, Apple Inc.,

Facebook Inc.

and

Alphabet Inc.’s

Google. Another bill targets the ability of Big Tech to leverage their online platforms to favor their own products over competitors. Amazon shares fell 0.1% Friday.

Write to Francesca Fontana at francesca.fontana@wsj.com

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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