Market review: Facebook shares rise on launch of new online service

Facebook shares rose 4.6% to $225.96 Wednesday amid bullish reports about its outlook and its announcement that it is launching Shops, an online service that will allow businesses to display and sell products. Shares closed the week at $234.91.

Overstock shares rose 18% to $17.87 Tuesday amid strong gains for e-commerce-sector companies and the distribution of its its digital dividend. Shares closed Friday at $17.60.

Royal Caribbean shares fell 3% to $40.87 Wednesday after the cruise-line operator said it booked a $1.4 billion first-quarter loss as it was forced to suspend operations due the pandemic. Its stock had briefly climbed after the company said bookings for 2021 are within historical ranges. Shares closed the week at $43.14.

Vaccine bounce

AstraZeneca shares rose 4% to $55.93 on Thursday on news that it had received $1.2 billion in U.S. funding to develop a vaccine. Shares closed the week at $55.22.

Netflix shares dropped 3.3% to $432.75 Thursday after it said it will ask customers who have not watched anything on the on-demand video streaming service in a year or more if they wish to maintain their subscription — and will cancel their membership if it does not hear back. Shares closed Friday at $429.32.

Boston Scientific shares fell 6.4% to $34.81 Thursday after it announced offerings of $750 million of common shares and $750 million of Series A mandatory convertible preferred shares. Shares closed the week at $35.91.

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