By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, February 24th. Please refresh for updates.
- Johnson & Johnson (NYSE:JNJ) stock rose 1.3% after the U.S. Food & Drug Administration announced the drugmaker's one-shot Covid-19 vaccine appeared safe and effective in trials, suggesting it will be approved shortly for emergency use.
Square (NYSE:SQ) stock fell 2.5% after the financial services company announced it had put a further $170 million into Bitcoin, after buying $50 million worth of the cryptocurrency in October last year.
Tesla (NASDAQ:TSLA) stock rose 4.6% after asset management company Ark Invest stated that it had added a further $171 million worth of the electric car manufacturer’s stock on Tuesday.
MicroStrategy (NASDAQ:MSTR) stock rose 12% after bitcoin rebounded, as the business analytics company has invested around $3.7 billion in the cryptocurrency.
Lowe’s (NYSE:LOW) stock rose 2.4% after the retailer beat expectations with its quarterly profit, helped by same-store sales climbing over 28%, compared with the 22% expected by analysts surveyed by the company.
Amazon (NASDAQ:AMZN) stock rose 0.6% after the online retailer confirmed that Senior Vice President Jeff Blackburn was leaving the company after 22 years. His departure further paves the way for incoming CEO Andy Jassy to reshape the company's leadership.
Toll Brothers (NYSE:TOL) stock rose 1.6% after the home construction company reported better than expected results for its fiscal first quarter, helped by the pandemic-inspired housing boom.
Intuit (NASDAQ:INTU) stock fell 1.8% after the financial software firm’s fiscal second-quarter results disappointed, on both the top and bottom lines.
Workhorse (NASDAQ:WKHS) stock fell 8.4% after the U.S. Postal Service awarded a contract to rival Oshkosh (NYSE:OSK), up 8.4%, in order to help the service electrify its fleet of delivery vehicles.
Exxon (NYSE:XOM) stock rose 0.7% after the oil major announced plans to sell its non-operated U.K. North Sea assets to private-equity backed HitecVision for more than $1 billion.
- Exelon (NASDAQ:EXC) stock rose 2% after the energy company announced plans to separate its regulated electric and gas utilities and its competitive power generation and customer-facing energy businesses into two publicly traded companies.
- TJX Companies (NYSE:TJX) stock fell 2.7% after the discount store operator, and parent of TJ Maxx, missed holiday-quarter sales estimates, as coronavirus-induced lockdowns in Europe and Canada pressured sales of non-essential products.