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Stocks: Tesla, PG&E, Airbus All Rise in Premarket

Published 01/02/2020, 08:45 AM
Updated 01/02/2020, 08:49 AM
© Reuters.

Investing.com -- Stocks in focus in premarket trade on Thursday, 2nd January.

  • Airbus ADRs (OTC:EADSY) were set for a higher opening after the company’s shares in Paris rose 2.9% on a Reuters report saying that it will beat its target of 860 aircraft deliveries in 2019. That confirms Airbus’s dethronement of Boeing (NYSE:BA) as the world’s no. 1 maker of airplanes. Boeing had only delivered 345 planes in the 11 months through November. Its stock was up 0.7% in premarket.

  • Altria (NYSE:MO) stock was up 0.5% after The Wall Street Journal reported that the Food and Drug Administration is likely to exempt menthol from the vaping flavors that it intends to ban, after research showed the measure would be unpopular in key states in an election year.

  • Tesla (NASDAQ:TSLA) stock was up 2.2% after Canaccord Genuity upgraded its target price to $515 from $370, predicting a big acceleration in the electric vehicle revolution in the year ahead. Tesla meanwhile said it will start delivering its Model 3 sedans from its new Shanghai factory on Jan. 7.

    • Network equipment maker Anixter International (NYSE:AXE) stock was in focus after the company said it had accepted an improved offer worth $93.50 a share from private equity firm Clayton, Dubilier & Rice. That’s just over 1% above its last close.

    • Industrial products distributor WESCO International Inc (NYSE:WCC), which had battled CD&R for control of Anixter, was also in the spotlight.
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    • Pacific Gas & Electric Co (NYSE:PCG) stock was up 0.3% after a court ruling that cut its obligations to bondholders.

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