By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, August 3rd. Please refresh for updates.
Microsoft (NASDAQ:MSFT) stock rose 2.5% after the tech giant aims to promptly complete a deal for TikTok's U.S., Canada, Australia and New Zealand operations, after U.S. President Donald Trump threatened to ban the popular app on security risks.
Marathon Petroleum (NYSE:MPC) stock soared 9.4% after agreeing to sell its gas stations to the Japanese owners of the 7-Eleven convenience store chain for $21 billion in the largest U.S. energy deal of the year.
Clorox (NYSE:CLX) stock rose 2.8% after beating fourth quarter expectations, thanks to a surge in cleaning product sales triggered by the global coronavirus pandemic. The company also promoted Linda Rendle, a 17-year veteran, to the chief executive officer role.
HSBC (NYSE:HSBC) ADR fell 5.3% after Europe's biggest bank reported a 65% drop in pretax profits to $4.3bn for the first half of the year and warned that bad loans linked to the coronavirus could reach $13 billion.
ADT (NYSE:ADT) stock soared 85% after the home security company confirmed that Alphabet’s Google (NASDAQ:GOOGL) would invest $450 million to acquire 6.6% stake in the company.
Tyson Foods (NYSE:TSN) stock rose 0.9% after the packaged foods company reported better-than-expected earnings for the third quarter, but its revenues disappointed. The company also named Dean Banks to be its new CEO in early October.
Virgin Galactic (NYSE:SPCE) stock rose 4% after announcing a deal with Rolls-Royce (OTC:RYCEY) to collaborate in designing and developing engine propulsion technology for high speed commercial aircraft.
Eli Lilly (NYSE:LLY) stock rose 2.5% after the drugmaker announced a late-stage trial to study whether one of its experimental Covid-19 antibody treatments can prevent the virus’ spread in residents and staff in U.S. nursing homes.
- Borr Drilling (NYSE:BORR) stock rose 27% after agreeing deals for three of its rigs, worth a potential $21 million.
- Eastman Kodak (NYSE:KODK) stock rose 5.3%, rebounding after Friday's 26% loss, after the company linked the granting of share options to its executive chairman with avoiding diluting his holding by a $100 million convertible bond deal.