Stocks making the biggest moves midday: Pfizer, Zoom Video, JPMorgan Chase, United Airlines & more

Check out the companies making headlines midday on Monday:

Pfizer, BioNTech — Pfizer and BioNTech jumped 8% and 9.7%, respectively, after the two companies released trial data that showed their coronavirus vaccine candidate had an efficacy rate of more than 90%. Dr. Albert Bourla, chairman and CEO of Pfizer, hailed the trial results as a "great day for science and humanity." U.S. stocks rallied broadly on the news.

Zoom Video, Amazon — Shares of Zoom Video and Amazon struggled on Monday as traders rotated out of so-called stay-at-home stocks and into beaten-down cyclical names following Pfizer and BioNTech's vaccine data release. Zoom Video traded more than 15% lower and Amazon slid 2%. These stocks, however, are still sharply higher for the year, with Zoom having gained more than 500% in 2020.

United Airlines, American Airlines, Carnival, Norwegian Cruise Line — Airlines and cruise stocks surged following the positive vaccine news from Pfizer. Carnival's stock jumped 30%, while Norwegian and Royal Caribbean added roughly 22% and 24%, respectively. For airlines, United popped 15%, while American, Delta and Southwest also saw double-digit gains.

AMC Entertainment –AMC Entertainment soared more than 72% following news that a coronavirus vaccine developed by Pfizer and BioNTech is more than 90% effective. The movie theater chain was on the brink of bankruptcy after its revenue plunged more than 90% in the third quarter amid forced shutdowns. A successful vaccine could be critical to AMC's turnaround as the company burns through its cash.

JPMorgan Chase, Citigroup – Shares of JPMorgan and Citigroup both surged about 10%, leading the gains in financial stocks amid a broad rotation into cyclicals following the positive vaccine news. The advance in bank stocks also came after a jump in bond yields on the promise of a faster economic recovery. The yield on the benchmark 10-year Treasury note jumped 13 basis points to 0.97%, its highest level since March 20.

Valero Energy, National Oilwell Varco, Exxon Mobil, Chevron — Energy stocks moved sharply higher on Monday, following a spike in oil prices as positive vaccine news fueled optimism about the economic recovery. Shares of Valero and National Oilwell Varco rallied roughly 27% and 24%, respectively, while Exxon and Chevron also saw double-digit gains.

Biogen — The biotech stock sank 30% after an advisory committee from the Food and Drug Administration rejected the use of Biogen's aducanumab drug for use in patients Alzheimer's. The company saw several downgrades from Wall Street, including to underweight from neutral by Atlantic Equities.

New York Times — Shares of The New York Times Company jumped 3.2% after an analyst at Evercore ISI upgraded the media company to outperform from in-line. "NYT shares have traded lower in response to the (likely) result of the US presidential election and a related perception that growth is set to slow materially next year," the analyst said in a note. "We think the key focus for fundamental investors now shifts to 2021 subscriber and ARPU expectations."

Fisker — Fisker rallied more than 18% after the car maker's stock was initiated with an outperform rating at Cowen. The research firm said there is a "compelling" buying opportunity for investors.

Beyond Meat — Beyond Meat tumbled nearly 9% after McDonald's said will test a meat-free burger in several markets next year as it adds plant-based menu offerings. Beyond Meat had made the meat-free patties for McDonald's Canadian test, and the fast-food chain ended the test in April.

—CNBC's Yun Li, Jesse Pound and Michael Bloom contributed to this report.

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