By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, December 23rd. Please refresh for updates.
JD.com (NASDAQ:JD) ADRs fell 7.6% after the China-based online retail giant’s largest shareholder, Tencent Holdings (OTC:TCEHY), announced plans to cut its stake in the company to 2.3% from 17%, saying it’s now large enough to not need its backing. The move comes after heavy scrutiny of China's Internet giants by anti-monopoly regulators.
Novavax (NASDAQ:NVAX) stock rose 0.9% after the biotech said its two-dose Covid-19 vaccine demonstrated “strong immune responses” against Omicron and other Covid variants. Other widely-approved vaccines have needed a booster shot to improve immune responses.
Intel (NASDAQ:INTC) stock fell 0.1% after the chip maker’s letter telling suppliers not to source products or labor from the Xinjiang region triggered a backlash, forcing an apology.
Exxon Mobil (NYSE:XOM) stock rose 0.1%, underperforming the wider market, after the oil major reported a fire at its Baytown facility in Texas, the fourth-largest refinery in the U.S.
Pfizer (NYSE:PFE) stock rose 0.6% the day after the U.S. Food and Drug Administration granted emergency use authorization for the drugmaker’s Covid pill, the first oral antiviral drug against the virus.
Crocs (NASDAQ:CROX) stock fell 0.9% on concerns over higher debt and equity dilution the distinctive shoe manufacturer will have to accept to fund its $2.5 billion acquisition of privately-owned Heydude.