United Air, Carnival Shares Up on Coronavirus News

United Air, Carnival Shares Up on Coronavirus News

United Air, Carnival Shares Up on Coronavirus News

Airline, cruise-ship and hotel stocks are rising on news about coronavirus treatments and vaccines.
Rob Lenihan
Publish date:
Aug 24, 2020 2:13 PM EDT

United Airlines Holdings  (UAL) – Get Report and Carnival Corp.  (CCL) – Get Report were among several travel-related stocks that were climbing Monday after government health officials approved a plasma treatment for coronavirus patients.

Both United and Carnival were up more than 8% at last check. In addition, Delta Air Lines  (DAL) – Get Report was advancing as the company said it planned to resume more than 50 international flights for winter 2020 and summer 2021.

Also rising were American Airlines Group  (AAL) – Get Report, Southwest Airlines  (LUV) – Get Report and Norwegian Cruise Line Holdings  (NCLH) – Get Report.

U.S. Global Jets ETF  (JETS) – Get Report, an exchange-traded fund that tracks the global airline industry, was up 4.3% recently.

The Food and Drug Administration issued emergency use authorization for convalescent plasma as a treatment for covid-19 in hospitalized patients.

In addition, AstraZeneca  (AZN) – Get Report was rising after a report said the Trump administration was weighing going around traditional regulatory standards to fast-track a possible coronavirus vaccine being developed by the company and Oxford University.

Hotel chains, such as Hilton Worldwide Holdings  (HLT) – Get Report, Marriott International  (MAR) – Get Report and Hyatt Hotels  (H) – Get Report were also higher.

Aerospace giant Boeing  (BA) – Get Report also saw its shares rising more than 5% on Monday.

The airline, hotel, and cruise ship sectors were all devastated by the coronavirus pandemic shutdown as governments attempted to slow the spread of the potentially deadly disease. Companies were forced to cut and furlough thousands of employees.

Separately, the U.S. Environmental Protection Agency said on Monday it granted emergency approval for American Airlines to use a disinfectant against the coronavirus on certain surfaces, Reuters reported. The disinfectant lasts as long as seven days, and the EPA is studying whether it could be effective in places like schools.

EPA Administrator Andrew Wheeler said at a news briefing that SurfaceWise2, made by Allied BioScience of Plano, Texas, is the first long-lasting product approved by the agency to help fight the spread of the novel coronavirus.

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