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Stocks: Papa John's Soars in Premarket; J&J, Comcast, Zynga All Rise

Published 08/27/2019, 08:47 AM
Updated 08/27/2019, 09:03 AM
© Reuters.

Investing.com - Stocks in focus in premarket trading on Tuesday:

  • Papa John's (NASDAQ:PZZA) stock jumped 6.8% in premarket trade by 8:40 AM ET (12:40 GMT) after it named Arby’s President Rob Lynch as its new president and CEO. He replaces Steve Ritchie, who took over as CEO last year after founder John Schnatter stepped down.

  • Johnson & Johnson (NYSE:JNJ) stock rose 1.2% in premarket trade after a court imposed a much lower fine than expected at the end of a trial centering on its role in the opioid crisis. An Oklahoma court ordered the company to pay $572.1 million in damages on allegations that it contributed to the epidemic.

  • Boeing (NYSE:BA) stock was up 0.4% on news that a unit of Russian conglomerate Rostec is willing to settle out of court to resolve a dispute over an order for 35 of the airplane maker’s 737 MAX jets.

  • Comcast (NASDAQ:CMCSA) stock gained 1.2% after Wells Fargo (NYSE:WFC) resumed coverage with an “outperform” rating, with analysts citing it as having more sources of value than other cable companies, according to CNBC.

  • Zynga (NASDAQ:ZNGA) stock was up 2.9% after Wedbush added the gaming company to its “Best Ideas” list.

  • Taiwan Semiconductor Manufacturing (NYSE:TSM) ADRs were up 1.2%, shrugging off a lawsuit from Global Foundries alleging various patent infringements. The suit aims to block the import of Apple (NASDAQ:AAPL) smartphones and other products into the U.S. and Germany.

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