Stock Movers BioNTech Rises, Boeing Gains, Nucor Up After Trump Steel Announcement
Jun 2, 2025
BioNTech's shares soared after a whopping $11.1 billion licensing deal with Bristol-Myers Squibb for a new cancer drug. Boeing's stock gained traction thanks to an upgrade from BofA Global Research, highlighting its strategic role in recent trade deals. Nucor saw a boost in shares following Trump's announcement to double tariffs on steel and aluminum. Each of these developments reflects significant shifts in market sentiment, influenced by corporate strategies and government policies.
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BioNTech's Oncology Market Potential
- BioNTech's next-gen cancer drug licensing deal implies oncology's market could hit $60 billion annually by 2027.
- The agreement includes up to $11.1 billion in payments and shared development and profits with Bristol-Myers Squibb.
Boeing Favored in Trade Deals
- Bank of America upgraded Boeing to buy, citing its aircraft as a favored trade tool for the Trump administration.
- The price target was raised to $260, implying a 25% stock increase from current levels.
Tariff Hike Boosts U.S. Steel Stocks
- Trump announced that steel and aluminum tariffs will double to 50%, boosting U.S. steel stocks like Nucor.
- This tariff rise might raise U.S. steel prices enough to deter imports, which currently exceed domestic production.