Why Pfizer and Moderna Bumped Higher on Tuesday

The coronavirus pandemic is still very much with us, and coronavirus stocks Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA) remain on the radar of many investors.

Some good news for the two companies' COVID-19 vaccines pushed Pfizer stock more than 3% higher on Tuesday, beating even the 2.5% gain of a surging S&P 500 index. Moderna also gained, but at a more modest 1.5% rate.

On Friday, as expected, the Food and Drug Administration (FDA) amended the Emergency Use Authorizations of Pfizer's Comirnaty and Moderna's mRNA-1273 (also known as Spikevax) to include very young children. The former (developed in partnership with German biotech BioNTech) has been given the green light for youths from 6 months to 4 years old, and the latter's age range is 6 months to 5 years.

Source Fool.com