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Clover Health, Wendy's Rise Premarket; Campbell Soup Falls

Stock MarketsJun 09, 2021 08:17AM ET
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, June 9th. Please refresh for updates.

  • Clover Health stock (NASDAQ:CLOV) rose 22%, continuing the stellar 86% gains of the previous session, with the Medicare-backed insurance seller quickly becoming the new favorite of retail traders on social media channels such as Reddit's WallStreetBets.
  • Lordstown Motors (NASDAQ:RIDE) fell over 4%, continuing to drop after Tuesday's 16% fall when the company warned its electric vehicle business may fail. It had reported first quarter 2021 net loss of $125 million.
  • Campbell Soup (NYSE:CPB) dropped 7.4% after the company reported a near 5% fall in quarterly profit, hurt by rising raw material and supply chain costs.
  • Wendy’s (NASDAQ:WEN) rose 5.7%, gaining as part of the meme stock phenomena, and despite Stifel downgrading its investment recommendation on the fast food chain to ‘hold’ from ‘buy’, saying the Reddit-fueled surge has overtaken the fundamental upside for the company.
  • Fastly stock (NYSE:FSLY) rose 3.3% after the cloud computing company apologized for Tuesday’s widespread internet outage, saying the incident was caused by a software bug and not anything more sinister.
  • GameStop (NYSE:GME) rose 0.8% ahead of the struggling videogame retailer reporting its quarterly results after the bell on Wednesday. It has lost money for the past three years.
  • Merck (NYSE:MRK) rose 0.7% after the drugmaker said the U.S. government has agreed to buy about 1.7 million courses of the company's experimental COVID-19 treatment for about $1.2 billion, if it is authorized in the country.
  • Colgate-Palmolive (NYSE:CL) rose 1.4% after Credit Suisse upgraded its recommendation on the consumer products company to ‘outperform’ from ‘neutral’, saying the ongoing rotation into reopening stocks has left the stock undervalued.
  • Fox stock (NASDAQ:FOXA) rose 1.8% after Wells Fargo upgraded its recommendation on the media giant to ‘overweight’ from ‘equal weight’, saying the company could benefit from the rise in sports gambling.
Clover Health, Wendy's Rise Premarket; Campbell Soup Falls
 

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Comments (4)
Felix Lopez
Felix Lopez Jun 09, 2021 9:23AM ET
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CLOV the new favorite among Reddit traders? Haha these people make me laugh hard
Felix Lopez
Felix Lopez Jun 09, 2021 9:22AM ET
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CLOV the new favorite among Reddit traders? Haha these people make me laugh hard
Mr Pepe
Mr Pepe Jun 09, 2021 8:42AM ET
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The 1% controls the narrative.
Mitchel Pioneer
Mitchel Pioneer Jun 09, 2021 8:29AM ET
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Another day to criminally prop the DOW, and pump fraudulent "gains" into the NASDAQ.  Wall Street twists the financial knife in the back of the US working class, as the US Ponzi Scheme, laughingstock of the financial world, continues to defraud America in broad daylight.
Peter Ballsnbush
BoyYeetzWorld Jun 09, 2021 8:29AM ET
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Meanwhile you are making no money while everyone else is getting rich.
Phil Davis
Phil Davis Jun 09, 2021 8:29AM ET
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Sounds like you've been reading Karl Marx.
 
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