By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, April 1st. Please refresh for updates.
Johnson & Johnson (NYSE:JNJ) stock fell 1.1% after the drugmaker confirmed that a batch of its Covid-19 vaccine did not meet quality control standards, due to a key ingredient made by partner Emergent Biosolutions (NYSE:EBS). Its stock fell 7.3%.
Micron (NASDAQ:MU) stock rose 4.4% after the chip maker forecast strong fiscal third-quarter revenue growth due to a rise in demand for memory chips. The Wall Street Journal also reported that Micron and Western Digital (NASDAQ:WDC), up 4%, were looking at a deal to buy Japanese chip maker Kioxia.
- Taiwan Semiconductor Manufacturing (NYSE:TSM) stock rose 2.5% after the world's largest contract chip manufacturer announced plans to invest $100 billion over the next three to increase capacity at its chipmaking plants.
Pfizer (NYSE:PFE) stock rose 0.3% after the drugmaker announced that new data showed its Covid vaccine, made with partner BioNTech, had 91% efficacy after six months, key to getting approval for general use and not just for emergency usage.
Wingstop (NASDAQ:WING) stock rose 7.7% after the restaurant company posted strong first quarter sales, with same-store sales jumping more than 20% on the year. In particular, digital sales soared more than 60% as customers ordered their chicken wings from home.
Guess (NYSE:GES) stock rose 6.8% after the clothing retailer posted a fourth-quarter profit that beat expectations even as the pandemic-related lockdowns resulted in a 23% drop in revenue. The company declined to give guidance due to continued uncertainty.
Quantumscape (NYSE:QS) stock soared over 15% after the company, which produces solid-state lithium batteries, announced it has met the requirements for a second $100 million investment by German car giant Volkswagen (DE:VOWG_p).
Exxon (NYSE:XOM) stock rose 0.5% after the oil giant signaled it could post its first profit in five quarters, helped by higher oil and gas prices, even including the hit from February’s deep freeze.
Boeing (NYSE:BA) stock rose 0.4% after the Federal Aviation Administration approved the design for the airplane manufacturer’s 737-8200, part of the 737 MAX series, a necessary step before it can begin delivering the airplanes to airlines.
Uber (NYSE:UBER) stock rose 1.7% after Jefferies (NYSE:JEF) initiated coverage of the ride hailing company with a ‘buy’ rating, calling the company one of its top reopening plays.
CarMax (NYSE:KMX) stock fell 3.3% after the auto retailer announced it would acquire the remaining part of auto information provider Edmunds that it didn’t already own, in a cash-and-stock deal valuing it at $404 million.