By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, January 7th. Please refresh for updates.
China Telecom (NYSE:CHA) stock fell 8.2%, China Mobile (NYSE:CHL) stock fell 4.5% and China Unicom (NYSE:CHU) stock fell 7.3% after the New York Stock Exchange reversed its reversal, saying it will delist the three Chinese telecommunication giants after all.
Alibaba (NYSE:BABA) and Tencent Holdings (OTC:TCEHY) are likely to be in focus after the Wall Street Journal reported that the U.S. is considering extending a stock market ban to these internet giants. Both sets of ADRs fell over 4% in late trading in New York on Wednesday.
Tesla (NASDAQ:TSLA) stock rose 3% after long-term bear RBC Capital Markets upgraded its investment stance on the stock of the electric car manufacturer to ‘sector perform’ from ‘underperform’, saying it got its original stance “completely wrong”.
CureVac (NASDAQ:CVAC) stock soared 15% after the German biotech agreed to an alliance with Bayer (OTC:BAYRY) to help it seek regulatory approval for its experimental Covid-19 vaccine and distribute doses.
Coca-Cola (NYSE:KO) stock rose 0.4% despite JP Morgan downgrading its stance on the soft drink manufacturer to ‘neutral’ from ‘buy’, citing concerns it will have to pay the bulk of the $3.4 billion tax bill it faces in a transfer pricing dispute with the Inland Revenue Service.
Walgreens Boots (NASDAQ:WBA) stock rose 3.2% after the retailer reported stronger than expected fiscal first-quarter earnings, helped by healthy pharmacy sales. It took a $1.5 billion charge from its equity earnings in AmerisourceBergen (NYSE:ABC).
ConAgra Foods (NYSE:CAG) stock rose 0.2% after the foods retailer reported a sales rise of 6.2% to nearly $3 billion for the fiscal second quarter, while forecasting current-quarter organic sales growth of 6% to 8%.