By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, October 5th. Please refresh for updates.
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Regeneron (NASDAQ:REGN) stock rose 5.3%, climbing after President Trump was given the company’s experimental Covid antibody treatment, suggesting that the drug was likely to be approved for general use in the future. The biotech was also upgraded to “overweight” from “neutral” by Cantor Fitzgerald.
- Navistar (NYSE:NAV) stock rose 2.2% following reports that major shareholder Carl Icahn is willing to accept a bid of about $50 per share for the truck maker.
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AMC Entertainment (NYSE:AMC) stock fell 6.9% after rival cinema chain, Cineworld, announced the closure of its more than 500 U.S. Regal theaters, as well as its theaters in the U.K.
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Eidos Therapeutics (NASDAQ:EIDX) stock soared 31% after BridgeBio Pharma (NASDAQ:BBIO), up 0.1%, agreed to buy the biotech in a deal valuing Eidos at $2.8 billion.
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AT&T (NYSE:T) stock fell 0.8% after KeyBanc Capital downgraded its investment stance on the telecoms giant to “underweight” from “sector weight”, citing declining average revenue per user numbers.
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Square (NYSE:SQ) rose 2.3% after Susquehanna raised its price target on the credit-card payment processing company to $195 from $180.
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MyoKardia (NASDAQ:MYOK) stock soared 58% after Bristol-Myers Squibb (NYSE:BMY), down 0.7%, announced plans to buy the heart drugs developer for about $13 billion, paying $225 per share in cash, a 61.2% premium on Friday closing price.
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3M (NYSE:MMM) stock rose 0.2% after saying it has launched an aggressive legal effort to prevent the sale of fraudulent personal protective equipment products during the coronavirus pandemic.
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DraftKings (NASDAQ:DKNG) stock fell 4.9% after the sports and sports betting operator said it’s set to offer 32 million shares in a syndicated deal, half by the company and half by selling stockholders, with the money raised by the company to be used for general corporate purposes.