By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, January 31st. Please refresh for updates.
Citrix Systems (NASDAQ:CTXS) stock fell 3.1% following a report in the Wall Street Journal stating that Elliott Management and Vista Equity Partners are close to agreeing a deal to take the software company private, at a price of $104/share, below Friday’s closing level.
Spotify (NYSE:SPOT) stock rose 2.8% after the audio streaming service tried to tackle accusations that it was being used as a platform to promote false information about Covid-19 vaccines, specifically via comedian Joe Rogan's podcasts.
Beyond Meat (NASDAQ:BYND) stock rose 4.4% after Barclays upgraded its investment stance on the faux-meat producer all the way to “overweight” from “underweight”, saying its recent partnerships with restaurants will boost the stock.
Tesla (NASDAQ:TSLA) stock rose 1.8% after Credit Suisse upgraded the electric car manufacturer to “overweight” from “neutral”, citing the dramatic pullback for tech stocks during January.
Netflix (NASDAQ:NFLX) stock rose 3% after Citigroup upgraded its stance on the subscription streaming service to “buy” from “neutral”, saying current levels don't assume material subscription growth beyond 2023.
Blackberry (TSX:BB) stock fell 6.2% after the communications software company agreed to sell its non-core legacy patents for $600 million.
Otis Worldwide (NYSE:OTIS) stock fell 3.9% after the elevator maker warned that sales growth would slow this year, forecasting 2022 earnings per share considerably below consensus expectations.