Philip van Doorn

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Feb. 28, 2020, 9:39 a.m. EST

These are the only 7 stocks in the S&P 500 that rose while the market plunged

The company whose stock has risen the most is working on drug trials to fight COVID-19

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By Philip van Doorn, MarketWatch


Bloomberg News
Gilead Sciences is holding drug trials to see if its Remdesivir medication is effective against the COVID-10 virus.

In any market environment, there are exceptions to the trend. But there aren’t many this time.

Since the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.45%  hit its last closing record on Feb. 19, the index has skidded 12% — and only seven of the component stocks haven’t declined through the close on Feb. 27. See the list below.

Before you get there, here’s a list of stocks in the index that took the worst beatings, along with a summary of how the 11 sectors performed.

It might surprise you that Tesla /zigman2/quotes/203558040/composite TSLA +4.40%  isn’t on that list of decliners, but the electric car maker hasn’t yet met the requirements to be included in the S&P 500. Before the outbreak of the coronavirus strain known as COVID-19, it appeared likely to be added to the index by the end of 2020. Tesla’s stock was down nearly $100 (13%) on Feb. 27 to close at $679. The stock was down $238 (26%) since it set a closing record of $917.42 on Feb. 19.

Read: Tesla’s stock tumbles toward biggest-ever weekly drop

So here are the exceptions — seven S&P 500 stocks that rose in price between Feb. 19 and Feb. 27:

Company Ticker Industry Price change since Feb. 19 Price change - 2020 Decline from 52-week high Price change - 2019
Gilead Sciences Inc. /zigman2/quotes/210293917/composite GILD Biotechnology 7.9% 11.8% -7.9% 3.9%
Regeneron Pharmaceuticals Inc. /zigman2/quotes/203149337/composite REGN Biotechnology 7.7% 14.9% -8.2% 0.5%
Clorox Co. /zigman2/quotes/206443229/composite CLX Household/Personal Care 2.3% 9.9% -3.1% -0.4%
E-Trade Financial Corp. /zigman2/quotes/205731930/composite ETFC Investment Banks/Brokers 2.3% 1.3% -19.8% 3.4%
CME Group Inc. Class A /zigman2/quotes/210449693/composite CME Investment Banks/Brokers 1.4% 4.8% -6.6% 6.7%
Newmont Corp. /zigman2/quotes/205356474/composite NEM Precious Metals 0.8% 7.1% -9.4% 25.4%
Cboe Global Markets Inc. /zigman2/quotes/208166986/composite CBOE Investment Banks/Brokers 0.7% 1.0% -5.2% 22.7%
Source: FactSet

You can click the tickers for more about each company.

• Gilead Sciences  has announced two Phase 3 clinical studies to measure the effectiveness of its Remdesivir medication in countering COVID-19 infections. The company’s Feb. 26 press release has more details. Jefferies analyst Michael Yee rates Gilead a “buy,” but wrote in a note to clients on Feb. 26 that although he is pleased that fighting the virus is a ‘very high priority” for Gilead’s management, “the financial implications are modest (pricing, one-time use, no tail).”

• Regeneron Pharmaceuticals  ws upgraded to a “Buy” by Jefferies analyst Biren Amin on Feb. 25, because he believes competitive risk to the company’s Eylea macular degeneration therapy has been minimized because of safety concerns over Novartis AG’s /zigman2/quotes/203243705/composite NVS -0.90%   /zigman2/quotes/203286410/delayed CH:NOVN -0.40%  Beovu medication.

• Clorox  is an obvious defensive stock during a time when people are concerned about the spread of a deadly virus and reaching for bleach. But Charles Lemonides, founder of ValueWorks LLC in New York, argued that for long-term investors, Clorox’s high valuation to earnings actually makes it a risky stock.

• E-Trade Financial  agreed on Feb. 20 to be acquired by Morgan Stanley /zigman2/quotes/209104354/composite MS +4.34%  in an all-stock deal valued at $58.74 a share at that time. E-Trade’s shares closed at $45.95 Thursday. The deal calls for an exchange of 1.0432 Morgan Stanley shares for every E-Trade share. Morgan Stanley’s shares closed at $45.41 on Feb. 27, so based on those numbers, E-Trade’s takeout price would be $47.37.

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/zigman2/quotes/210599714/realtime
US : S&P US
2,789.82
+39.84 +1.45%
Volume: 0.00
April 9, 2020 5:15p
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 573.00
+24.16 +4.40%
Volume: 0.00
April 9, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$105.66 billion
Rev. per Employee
$439,627
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/zigman2/quotes/210293917/composite
US : U.S.: Nasdaq
$ 73.51
-1.48 -1.97%
Volume: 0.00
April 9, 2020 4:00p
P/E Ratio
17.46
Dividend Yield
3.70%
Market Cap
$92.55 billion
Rev. per Employee
$2.02M
loading...
/zigman2/quotes/203149337/composite
US : U.S.: Nasdaq
$ 512.96
+0.63 +0.12%
Volume: 0.00
April 9, 2020 4:00p
P/E Ratio
27.79
Dividend Yield
N/A
Market Cap
$56.44 billion
Rev. per Employee
$906,865
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/zigman2/quotes/206443229/composite
US : U.S.: NYSE
$ 184.21
+3.17 +1.75%
Volume: 2.11M
April 9, 2020 6:30p
P/E Ratio
28.95
Dividend Yield
2.30%
Market Cap
$23.04 billion
Rev. per Employee
$717,701
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/zigman2/quotes/205731930/composite
US : U.S.: Nasdaq
$ 41.76
+1.84 +4.61%
Volume: 0.00
April 9, 2020 4:00p
P/E Ratio
10.91
Dividend Yield
1.34%
Market Cap
$9.23 billion
Rev. per Employee
$761,500
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/zigman2/quotes/210449693/composite
US : U.S.: Nasdaq
$ 190.16
+9.19 +5.08%
Volume: 0.00
April 9, 2020 4:00p
P/E Ratio
32.17
Dividend Yield
1.79%
Market Cap
$68.17 billion
Rev. per Employee
$960,349
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/zigman2/quotes/205356474/composite
US : U.S.: NYSE
$ 57.31
+6.78 +13.42%
Volume: 15.21M
April 9, 2020 6:30p
P/E Ratio
16.52
Dividend Yield
0.98%
Market Cap
$46.29 billion
Rev. per Employee
$300,083
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/zigman2/quotes/208166986/composite
US : U.S.: Cboe BZX
$ 93.42
-2.28 -2.38%
Volume: 0.00
April 9, 2020 4:10p
P/E Ratio
27.89
Dividend Yield
1.49%
Market Cap
$10.25 billion
Rev. per Employee
$3.29M
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/zigman2/quotes/203243705/composite
US : U.S.: NYSE
$ 84.85
-0.77 -0.90%
Volume: 2.25M
April 9, 2020 6:30p
P/E Ratio
16.78
Dividend Yield
2.37%
Market Cap
$192.19 billion
Rev. per Employee
$415,614
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/zigman2/quotes/203286410/delayed
CH : Switzerland: SWX
CHF 82.12
-0.33 -0.40%
Volume: 5.91M
April 9, 2020 5:30p
P/E Ratio
16.30
Dividend Yield
3.59%
Market Cap
CHF186.00 billion
Rev. per Employee
CHF405,818
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/zigman2/quotes/209104354/composite
US : U.S.: NYSE
$ 41.08
+1.71 +4.34%
Volume: 21.90M
April 9, 2020 6:30p
P/E Ratio
7.92
Dividend Yield
3.41%
Market Cap
$62.95 billion
Rev. per Employee
$831,709
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Philip van Doorn covers various investment and industry topics. He has previously worked as a senior analyst at TheStreet.com. He also has experience in community banking and as a credit analyst at the Federal Home Loan Bank of New York.

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