Why Shares of Becton, Dickinson Rose 17.6% in July

Shares of medical devicemaker Becton, Dickinson (NYSE: BDX) jumped 17.6% in July, according to data from S&P Global Market Intelligence. Investors have been sharply attuned to COVID-19 developments, so when Becton, Dickinson -- commonly abbreviated as BD -- announced on July 6 that the FDA had approved its rapid-response coronavirus antigen test for emergency use, the market immediately began sending shares skyward. It's performed using BD's existing Veritor testing system.