Novavax, Merck rise; Regeneron, Anaplan fall

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Tuesday: Novavax, Merck rise; Regeneron, Anaplan fall.

Novavax Inc., up $2.06 to $48.17.

The biotechnology company started an early study for a potential coronavirus vaccine.

AutoZone Inc., up 26 cents to $1,123.20.

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The auto parts retailer handily beat Wall Street’s fiscal third-quarter profit and revenue forecasts.

Independent Bank Group, up $4.98 to $36.21.

The bank terminated a merger deal with Texas Capital Bancshares because of a significant impact from the virus pandemic.

Hibbett Sports Inc., down 78 cents to $18.72.

The sporting goods retailer reported surprisingly good first-quarter financial results and a surge in digital sales.

Regeneron Pharmaceuticals Inc., down $24.70 to $545.21.

The drug developer is buying back $5 billion of its stock as Sanofi sells a majority of its stake in the company.

Anaplan Inc., down $3.91 to $47.15.

The software developer gave investors a weak revenue forecast for the current quarter.

Merck & Co., up 89 cents to $77.26.

The pharmaceutical company is working with Ridgeback Biotherapeutics to develop a treatment for COVID-19.

Bank of America Corp., up $1.62 to $24.28.

Bond yields rose as Wall Street grew more optimistic about an economic recovery.

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