By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, December 13th. Please refresh for updates.
Pfizer (NYSE:PFE) stock rose 1.2% and BioNTech (NASDAQ:BNTX) stock rose 3.9% after an Israeli study showed their Covid-19 vaccine booster provides good protection against severe illness from the Omicron variant. Pfizer has also agreed to acquire Arena Pharmaceuticals (NASDAQ:ARNA) in a $6.7 billion all-cash deal to expand its cancer and inflammatory disease treatment pipeline. Arena stock soared over 90%.
Harley-Davidson (NYSE:HOG) stock rose 10% after the iconic motorcycle maker announced it’s merging its “Livewire” electric motorcycle unit with a special purpose acquisition company. Livewire will have an enterprise value of about $1.8 billion and will trade on the NYSE.
Intel (NASDAQ:INTC) stock rose 0.3% after local authorities indicated that the chip manufacturer is set to invest over $7.1 billion in a new, state-of-the-art facility in Malaysia.
Credit Suisse (SIX:CSGN) stock rose 0.3% after the Swiss banking giant revamped its executive board, seeking to move on from a difficult year during which it was battered by a stream of controversies and losses.
Lucid (NASDAQ:LCID) stock rose 6.6% after the luxury EV-maker said the $1.75-billion debt paper it is raising will be convertible at a 50% premium to its December 9 share price, pricing more tightly than expected pointing to lenders’ confidence in the company’s long term future.
Microsoft (NASDAQ:MSFT) stock rose 0.1% following a Reuters report stating that the U.K. antitrust regulator will look into the company’s $16-billion purchase of artificial intelligence and speech technology firm Nuance Communications (NASDAQ:NUAN).
- Apple (NASDAQ:AAPL) stock rose 1.2% after JPMorgan raised its price target on the iPhone maker to $210 from $180, the highest on Wall Street, citing the likely launch of a 5G iPhone SE.
Coca-Cola (NYSE:KO) stock rose 1.2% after JPMorgan (NYSE:JPM) upgraded its stance on the soft drinks giant to ‘overweight’ from ‘neutral’, saying reopenings and higher prices will boost its revenue going into 2022.
Bristol-Myers Squibb (NYSE:BMY) stock rose 1.9% after the pharmaceutical giant announced a 10% increase in its quarterly dividend and added $15 billion to its share buyback authorization.
Qualcomm (NASDAQ:QCOM) stock rose 1.6% after JPMorgan named the chip manufacturer as one of its top picks for 2022.