By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, June 29th. Please refresh for updates.
Facebook (NASDAQ:FB) stock rose 0.4%, extending Monday’s 4% gain which lifted the company’s market cap above $1 trillion for the first time. The move comes after a federal judge dismissed antitrust lawsuits against the social media giant filed by the U.S. government and most states.
Boeing (NYSE:BA) stock rose 1.2% after the aircraft manufacturer confirmed an order from United Airlines (NASDAQ:UAL),of 200 Boeing 737 MAX planes as the airline pursues post-pandemic domestic growth. United stock fell in reaction to a commitment that will raise its flying capacity by as much as 6%.
Morgan Stanley (NYSE:MS) stock rose 3.1%, leading gains among the big lenders after saying it would double its dividend in the third quarter. Goldman Sachs (NYSE:GS) gained 1.3% and Wells Fargo (NYSE:WFC) stock rose 0.4%, while Citigroup (NYSE:C) stock fell 0.9% after it bucked the trend, keeping its dividend unchanged.
General Electric (NYSE:GE) stock rose 1% after Goldman Sachs named the industrial conglomerate as one of its top ideas, with a ‘buy’ rating, saying the cyclical trade has further to run and GE’s price can rise a further 24%.
Tesla (NASDAQ:TSLA) stock fell 0.5% after UBS cut its price target on the electric car manufacturer by around 10%, citing growing competition.
Herman Miller (NASDAQ:MLHR) stock fell 2.2% after the provider of office furniture provided a weaker-than-expected full-year earnings forecast, even as it beat forecasts with its quarterly numbers.
Walmart (NYSE:WMT) stock rose 0.1% after the retail giant announced it will start selling private-label analog insulin this week at a deep discount to branded insulin vials and pens, as it seeks to drive growth at its healthcare business
- XPO Logistics (NYSE:XPO)stock fell 2.6% after the company announced a public offering of 5 million common shares, priced at $138 per share. It plans to use the funds to pay down debt and for general corporate purposes.