Check out some of the biggest movers in the premarket:
Apple (AAPL) — Apple reportedly could see production shortages of up to 6 million iPhone Pro models due to Covid-related unrest at contract manufacturer Foxconn’s China factory. Apple fell 1.7 percent in premarket trading, saying Apple and Foxconn expect to make up that shortfall by 2023, a person familiar with the merger told Bloomberg.
Taboola.com (TABILLA) – Shares of the software company surged 65.2 percent in premarket trading after announcing a 30-year deal with Yahoo, under which Tabola will promote native advertising across all Yahoo platforms.
Wynn Resorts (WYNN), MGM Resorts (MGM), Melco Resorts (MLCO), Las Vegas Sands (LVS) – Casino stocks rallied in after-hours trading after the Chinese government granted temporary permission to companies to resume operations in Macau. Wynn jumped 5.9%, MGM added 2.2%, Melco gathered 8% and Las Vegas Sands rose 3.2%.
Biogen (BIB) – Biogen fell 5.5% in premarket trading, according to an online publication Science.org. The publication said the trial was sponsored by Biogen and Japanese pharmaceutical company Esai.
Exxon Mobil (XOM), Chevron (CVX) – These and other energy stocks fell in premarket trading as WTI crude hit an 11-month low. Exxon lost 1.8% while Chevron fell 1.7%.
Anheuser-Busch InBev (BUD) — Anheuser-Busch InBev jumped 4.2% in premarket trading after a double upgrade from JP Morgan Securities, which upgraded the brewer’s stock to “overweight” from “underweight.” The company is now seeing strong earnings performance while showing a rapidly improving balance sheet.
The first sun (FSLR) – The solar company’s stock fell 2.6% in premarket trading following a downgrade from “overweight” to “neutral” by JP Morgan. JPMorgan’s call for more incentives for alternative energy reflects the stock’s performance since the announcement of the inflation-busting legislation.
News Corporation (NWSA), Fox (FOXA) – T. Rowe Price is the latest major shareholder to be concerned about Rupert Murdoch’s plans to re-merge News Corp and Fox, according to a New York Times report. The investment firm is News Corp’s second-largest shareholder after the Murdoch family, with a 12 percent stake, and a merger is believed to devalue News Corp’s shares.
Pinduoduo (PDD) – The China-based e-commerce platform beat both top- and bottom-line estimates last quarter, as China’s strict Covid policies prompted more consumers to shop online. Pinduoduo rose 14.2% in premarket.
.
[ad_2]
Comments