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IBM, Apple and Halliburton Rise Premarket; PPG Falls

Stock MarketsJul 20, 2021 08:08AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Tuesday, July 20th. Please refresh for updates.

  • IBM (NYSE:IBM) stock rose 3.3% after the tech company reported better than expected second-quarter revenue growth after the close Monday, boosted by strong growth in its Cloud and consulting businesses.

  • Apple (NASDAQ:AAPL) stock rose 0.8% following a report in The Wall Street Journal that the iPhone maker is looking to expand its facilities in Los Angeles, as it strives to deepen its commitment to streaming content. 

  • Travelers (NYSE:TRV) stock rose 0.2% after the insurer beat second-quarter profit expectations, helped by higher premiums, lower catastrophe losses and a surge in returns from investments.

  • Johnson & Johnson (NYSE:JNJ) stock rose 0.7%, AmerisourceBergen (NYSE:ABC) stock rose 4.8%, McKesson (NYSE:MCK) stock gained 5.1% and Cardinal Health (NYSE:CAH) stock climbed 5.1% following reports that these drugmakers are close to agreeing a $26 billion settlement of multiple lawsuits in various states which alleged they fueled the U.S. opioid crisis.

  • Halliburton (NYSE:HAL) stock rose 2.8% after the oilfield services provider reported a second-straight quarterly profit, as a rebound in crude prices from pandemic-lows buoyed demand.

  • Simon Property Group (NYSE:SPG) stock rose 1.9% after Stifel upgraded its investment recommendation to ‘buy’ from ‘hold’, saying that Monday’s selloff of almost 6% went too far and that investors should take advantage of a rebound.

  • Nasdaq (NASDAQ:NDAQ) stock rose 2.2% after the financial services group said Tuesday it was teaming up with some senior U.S. banks to create a separate trading venue for stocks of private companies.

  • Philip Morris (NYSE:PM) stock fell 0.5% after the tobacco giant missed expectations for its second-quarter revenue growth, but also authorized a new share repurchase scheme of up to $7 billion.

  • PPG Industries (NYSE:PPG) stock fell 6.4% after the paints supplier missed second-quarter earnings expectations and warned of rising costs during the current quarter.

 

IBM, Apple and Halliburton Rise Premarket; PPG Falls
 

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