Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Oils, Gannett, Rise in Premarket; Facebook Falls

Stock MarketsSep 27, 2021 08:49AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Geoffrey Smith 

Investing.com -- Stocks in focus in premarket trading in New York on Monday, 27th September. Please refresh for updates.

  • Facebook (NASDAQ:FB) stock fell 0.9% after the social media giant said it will pause work on its “Instagram Kids” project, days after a series of heavy-hitting articles in The Wall Street Journal exposed how the company had failed to act effectively to stop Instagram inflicting psychological damage on teens. Instagram head Adam Mosseri said he still believes the project “is the right thing to do.”

  • Gores Guggenheim (NASDAQ:GGPI) stock rose 2.8% after the Special Purpose Acquisition Company said that it will merge with Polestar, the electric vehicle unit of Volvo Cars owner Geely Automobile Holdings (OTC:GELYF) (OTC:GELYY), to take the latter public, at an implied enterprise value of $20 billion.
  • Oil and gas stocks rose across the energy complex as crude oil prices rose and natural gas prices surged in response to increasing signs of a global energy shortage at the start of the northern hemisphere winter heating season. Exxon Mobil (NYSE:XOM) stock rose 2.1%, while Chevron (NYSE:CVX) stock and Conocophillips (NYSE:COP) stock rose 1.6% and 2.0%, respectively.  Oil service firms were also lifted by the development: Schlumberger (NYSE:SLB) stock and Halliburton (NYSE:HAL) stock both rose 2.6%.
  • Gannett stock rose 3.6% after it announced another refinancing that will bring down the cost of its outstanding debt still further. It's issuing up to $550 million in senior secured notes, targeting a rate of at least 500 basis points over LIBOR (which is currently around 0.13%). That compares with a coupon of 7.75% for the bonds it issued in a January refinancing.
  • Alphabet stock (NASDAQ:GOOGL) traded 0.3% lower following a CNBC report that it willl cut its commission on sales on its Cloud marketplace to 3% from 20%, in an effort to build market share. Google's Cloud hosting business is currently a distant third behind Amazon (NASDAQ:AMZN) Web Services and Microsoft (NASDAQ:MSFT)'s Azure.  

  • Rolls-Royce (OTC:RYCEY) ADRs rose 9.0% to a 10-month high after the U.K.-based engineering giant announced a 30-year contract to supply aero engines to the U.S. Air Force and also the disposal of its Spanish-based ITM Aero business for some $2 billion.
Oils, Gannett, Rise in Premarket; Facebook Falls
 

Related Articles

Logitech quarterly sales rise on work-from-home boom
Logitech quarterly sales rise on work-from-home boom By Reuters - Oct 25, 2021

(Reuters) -Logitech International SA reported on Tuesday an increase in its sales in the second quarter as the computer peripherals maker continued to see a surge in demand for...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Charles Barnes
Charles Barnes Sep 27, 2021 9:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
GGPI is short lived pleasure. In board meetings we used to liken this movement as a “popcorn fart”
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email