Stock Market

Moderna, Intel Rise Premarket; Didi Global Falls By

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By Peter Nurse — Stocks in focus in premarket trade on Friday, July 16th. Please refresh for updates.

  • Intel (NASDAQ:) stock rose 0.4% after the Wall Street Journal reported that the chip maker is in talks to buy semiconductor manufacturer GlobalFoundries for about $30 billion.

  • Didi Global (NYSE:) ADR fell 4.3% after Chinese regulatory officials visited the ride-hailing giant’s offices to conduct a cybersecurity review, part of the country’s clampdown on the tech sector.

  • Moderna (NASDAQ:) stock rose 7.6% following news of the inclusion of the drugmaker’s stock into the next week, meaning it will likely be included in more funds benchmarked against the index.

  • Alcoa (NYSE:) stock rose 2% after the aluminum producer beat second-quarter earnings expectations, lifting its forecast for shipments this year as economies reopen.

  • Live Nation Entertainment (NYSE:) stock rose 1.9% after Goldman Starts coverage of the events promoter with a ‘buy’ rating, saying the stock can rally nearly 40% as concerts return.

  • Tencent Music (NYSE:) stock fell 0.8% after Morgan Stanley (NYSE:) downgraded its recommendation on the music streamer to ‘equal weight’ from ‘overweight’, citing rising regulatory issues in China.

  • Ericsson (BS:) ADR slumped 9%, weighed by a decline in sales in mainland China even as the Swedish telecoms operator announced a $8.3 billion multi-year 5G deal from Verizon Communications (NYSE:).

  • Square (NYSE:) stock rose 1.5% after the payments company’s CEO Jack Dorsey stated that the firm is building a new division that will focus on building decentralized finance services that focus on .

  • American Outdoor Brands (NASDAQ:) stock slumped 9.6% after the manufacturer of recreation products missed fiscal fourth-quarter revenue expectations, a major disappointment after the strong numbers in the previous quarter. 

  • Lordstown Motors (NASDAQ:) stock fell 0.9% after the electric truck maker said federal prosecutors in New York are investigating its pre-orders and its merger with special purpose acquisition company DiamondPeak Holdings.


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