By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, September 21st. Please refresh for updates.
Nikola (NASDAQ:NKLA) stock fell 26% after the company's founder Trevor Milton stepped down as executive chairman as it battles allegations from a short-seller that it misled investors and automakers.
General Motors (NYSE:GM) fell 4.2%, falling in conjunction with Nikola as GM took a 11% stake in the electric-truck maker around two weeks ago.
Oracle (NYSE:ORCL) stock rose 2.8% and Walmart (NYSE:WMT) 0.9% after President Donald Trump on Saturday said he supported a deal in principle that would allow TikTok to continue to operate in the United States, with Oracle taking a 12.5% stake in the newly created U.S. company, and Walmart 7.5%.
JPMorgan (NYSE:JPM) stock fell 4.8% and Bank of New York Mellon (NYSE:BK) dropped 4.3% after the banking giants were both implicated in moving large sums of allegedly illicit funds by the Financial Crimes Enforcement Network. HSBC ADRs also fell 7.1%, after its shares hit a 25-year low in Europe.
American Airlines (NASDAQ:AAL) stock dropped 3.3%, Delta Air Lines (NYSE:DAL) fell 4.6%, United Airlines (NASDAQ:UAL) was down 3.6%, Royal Caribbean (NYSE:RCL) fell 4.8% and Carnival (NYSE:CUK) slumped 4.3% as the travel and leisure sector was hit hard by the surge in coronavirus cases in Europe.
Illumina (NASDAQ:ILMN) stock dropped 2.9% after the WSJ reported that the company agreed to pay $7.1 billion for the part of Grail that it doesn’t already own.
Tesla (NASDAQ:TSLA) stock rose 1.7% after CEO Elon Musk said in an internal email the U.S. electric carmaker has a chance to deliver a record number of vehicles in the third quarter.
Facebook (NASDAQ:FB) stock was down 2.5% after following a report that the social media giant told Ireland's High Court it cannot see how its services could operate in the European Union if regulators freeze its data transfer mechanism.
- Snowflake (NYSE:SNOW) stock fell 5.4% after Summit Insights said the shares are “at risk of a violent sell-off.” The company started coverage of the software firm with a sell rating.