Investing.com - Stocks in focus in pre-market trade Monday:
• General Motors (NYSE:GM), Ford Motor (NYSE:F) and Fiat Chrysler (NYSE:FCAU) stocks gained 3.37%, 2.44% and 2.23%, respectively by 8:05 AM ET (13:05 GMT) after U.S. President Donald Trump said that China had agreed to cut tariffs on American-made cars.
• Tesla (NASDAQ:TSLA) stock gained 3.43%, also benefiting from the auto tariff reduction amid additional news that it’s expanding its electric charging routes in Canada to allow coast-to-coast travel.
• Apple (NASDAQ:AAPL) stock rose 3.35% as the U.S.-China trade ceasefire was interpreted to reduce risk of tariffs hurting its products. The company was also in headlines as 9to5Mac reported that it may release an updated version of its AirPods in the first quarter of 2019 with a possible redesign coming in 2020, while Bloomberg cited sources as saying the company will hold off on 5G technology for its iPhones until 2020 at the earliest.
• Amazon.com (NASDAQ:AMZN) stock advanced 4.60% amid news that the company is testing its cashierless checkout technology for application in bigger stores, according to The Wall Street Journal.
• Tribune Media (NYSE:TRCO) stock soared 10.01% after Nexstar Media confirmed earlier rumors that it would acquire the company for $46.50 a share in a cash transaction that is valued at $6.4 billion including the assumption of Tribune Media’s outstanding debt.
• Qualcomm (NASDAQ:QCOM) stock traded up 2.99% after the company rejected the possibility of reopening a bid to acquire NXP Semiconductors.
• Broadcom (NASDAQ:AVGO) stock advanced 3.20% after it announced a global preferred services partnership with HCL Technologies.
• New Age Beverages (NASDAQ:NBEV) stock skyrocketed 15.15% after it announced a merger with Morinda in a deal valued at $85 million.
• Netflix (NASDAQ:NFLX) stock rose 3.61% despite a report from The Times that the company’s UK accounts were under examination by British tax regulator HM Revenue and Customs.
• Finisar NASDAQ:FNSR) stock was little changed as fiscal second-quarter profit beat expectations but revenue missed.
• Pfizer (NYSE:PFE) stock gained 0.54% as the company announced a positive study for PF-05280586, a potential rituximab Biosimilar used in patients with indolent follicular lymphoma.