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

Stocks - Apple Falls in Premarket; Drug Reports Lift Gilead, AbbVie

Stock MarketsFeb 03, 2020 08:25AM 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 trade on Monday, 3rd February. Please refresh for updates

  • 8:58 AM ET: Tesla (NASDAQ:TSLA) stock rose 3.7% to a new all-time high after Chinese battery maker CATL confirmed it had signed a deal to supply the company. Tesla has recently commissioned its new factory in Shanghai and had flagged last week that it had diversified battery suppliers beyond traditional partner Panasonic.
  • Panasonic stock (OTC:PCRFY) earlier fell in Tokyo despite the company reporting better-than-expected earnings for the fourth quarter of 2019.
    • 8:53 AM ET: Luckin Coffee (NASDAQ:LK) stock rose 2.0% in a modest bounce from a 10.7% on Friday, when short-seller Muddy Waters Research disclosed a short position in the company. The company said at the weekend it "stands by its business model" after Muddy Waters alleged fraudulent accounting. The stock is still down by around one-third in the last two weeks, reflecting expectations of a severe hit to sales from the coronavirus outbreak.

    • 8:49 AM ET: Monster Beverage (NASDAQ:MNST) stock rose 2.1% after being upgraded to Overweight by analysts at Morgan Stanley (NYSE:MS).

    • 8:14 AM ET: Check Point Software (NASDAQ:CHKP) stock was down 1.7% despite reporting what appeared to be marginally better than expected numbers for the fourth quarter. The cyber security firm initially gave no guidance for the current year but will hold a conference call at 8:30 AM ET.

    • 8:21 AM ET: Northrop Grumman (NYSE:NOC) stock fell 1.6% after receiving a double-downgrade to Sell from Buy from analysts at Goldman Sachs (NYSE:GS).

    • 8:24 AM ET: Ryanair ADRs (NASDAQ:RYAAY) were in focus after the company’s common stock rose 5.4% in London on the back of a better-than-expected end to 2019. Europe’s largest discount airline returned to profit, but pushed back its medium-term traffic target due to the delayed receipt of Boeing (NYSE:BA) 737 MAXes.

    • 8:10 AM ET: Apple (NASDAQ:AAPL) stock fell 0.7% to a three-week low after the company said it would shut its stores, corporate offices and call centers in China until at least Feb. 9, out of what it called “an abundance of caution” over the coronavirus outbreak. The company makes some 20% of its iPhone sales in China. In addition to the sales issue, the company also faces possible supply-chain issues as the Chinese government has ordered factories around the country to stay shut until Feb. 10.

    • Boeing (NYSE:BA) stock was up 0.1% despite suggestions of further complications to the process of getting the 737 MAX airborne again. The New York Times reported that European regulators want the company to relocate certain stretches of wiring to reduce the risk of short-circuiting. The Wall Street Journal said that the Federal Aviation Agency, which disagrees with its European counterpart, may push back a key certification flight as a result.

    • AbbVie (NYSE:ABBV) stock was up 1.2% after reports that its antiviral products were part of a cocktail of drugs successfully used to treat a patient suffering from the novel coronavirus in Thailand.

    • Gilead Sciences (NASDAQ:GILD) stock was up 5.3% after saying late on Friday that a U.S. coronavirus patient had responded positively to treatment with the company’s anti-HIV drug remdesivir, which hasn’t yet received regulatory approval in the U.S. or anywhere else.

    Stocks - Apple Falls in Premarket; Drug Reports Lift Gilead, AbbVie
     

    Related Articles

    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.
     
    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