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SAP, Hasbro Drop Premarket; Dunkin Brands Rise

Stock Markets Oct 26, 2020 08:57AM ET
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By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Monday, October 26th. Please refresh for updates.

  • SAP (NYSE:SAP) ADRs fell 21% after the German software giant warned that it would take longer than expected to recover from the impact of the coronavirus pandemic, abandoning its medium-term profitability targets.

  • Salesforce.com (NYSE:CRM) stock dropped 2.2% and Oracle (NYSE:ORCL) stock fell 3.1%, as a read across from SAP, with these two companies trading in the same sector.

  • Dunkin Brands (NASDAQ:DNKN) stock soared 18% after the New York Times reported that the parent company of Dunkin' and Baskin-Robbins is in preliminary talks to be bought by private equity-backed Inspire Brands.

  • Hasbro (NASDAQ:HAS) stock dropped 3.2% despite the games manufacturer posting better-than-expected quarterly revenue and profit numbers, boosted by demand for its high-profile games amid the pandemic. Its stock is up almost 20% this month.

  • Tesla (NASDAQ:TSLA) stock fell 1.6% after Chinese media reported that the electric car manufacturer will begin shipping made-in-China electric cars to Europe on Tuesday, a development interpreted by many as signalling that demand in Asia has not been sufficient to snap up the local production.

  • AstraZeneca (NYSE:AZN) ADRs rose 1% after the U.K.-based pharmaceutical giant said its potential Covid-19 vaccine, being manufactured in conjunction with University of Oxford, triggered a robust  immune response in adults, especially in the elderly - the age group most at risk from the virus.

  • American Airlines (NASDAQ:AAL) stock fell 2.4%, United Airlines (NASDAQ:UAL) stock dropped 3.1% and Delta Air Lines (NYSE:DAL) fell 2.7% amid fears that the resurgence in coronavirus cases will lead to further drops in passenger numbers.

  • Palantir (NYSE:PLTR) stock rose 2.1% after JPMorgan (NYSE:JPM) and Jefferies (NYSE:JEF) initiated coverage of the stock with “buy” ratings, after the company went public last month. They cited the company’s data-collecting prowess and capabilities.

 

SAP, Hasbro Drop Premarket; Dunkin Brands Rise
 

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