By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, July 16th. Please refresh for updates.
Intel (NASDAQ:INTC) stock rose 0.4% after the Wall Street Journal reported that the chip maker is in talks to buy semiconductor manufacturer GlobalFoundries for about $30 billion.
Didi Global (NYSE:DIDI) ADR fell 4.3% after Chinese regulatory officials visited the ride-hailing giant’s offices to conduct a cybersecurity review, part of the country’s clampdown on the tech sector.
Moderna (NASDAQ:MRNA) stock rose 7.6% following news of the inclusion of the drugmaker’s stock into the S&P 500 Index next week, meaning it will likely be included in more funds benchmarked against the index.
Alcoa (NYSE:AA) stock rose 2% after the aluminum producer beat second-quarter earnings expectations, lifting its forecast for shipments this year as economies reopen.
Live Nation Entertainment (NYSE:LYV) stock rose 1.9% after Goldman Starts coverage of the events promoter with a ‘buy’ rating, saying the stock can rally nearly 40% as concerts return.
Tencent Music (NYSE:TME) stock fell 0.8% after Morgan Stanley (NYSE:MS) downgraded its recommendation on the music streamer to ‘equal weight’ from ‘overweight’, citing rising regulatory issues in China.
Ericsson (BS:ERICAs) ADR slumped 9%, weighed by a decline in sales in mainland China even as the Swedish telecoms operator announced a $8.3 billion multi-year 5G deal from Verizon Communications (NYSE:VZ).
Square (NYSE:SQ) stock rose 1.5% after the payments company’s CEO Jack Dorsey stated that the firm is building a new division that will focus on building decentralized finance services that focus on Bitcoin.
American Outdoor Brands (NASDAQ:SWBI) stock slumped 9.6% after the manufacturer of recreation products missed fiscal fourth-quarter revenue expectations, a major disappointment after the strong numbers in the previous quarter.
Lordstown Motors (NASDAQ:RIDE) stock fell 0.9% after the electric truck maker said federal prosecutors in New York are investigating its pre-orders and its merger with special purpose acquisition company DiamondPeak Holdings.