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Tesla, Live Nation Fall Premarket; Coty, Caterpillar Rise

Stock Markets Nov 08, 2021 08:08AM ET
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By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Monday, November 8th. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock fell 4% as investors prepare for CEO Elon Musk to sell 10% of his stake in the electric car maker as he prepares to pay a tax bill.

  • Coty (NYSE:COTY) stock rose 7.5% after the cosmetics maker reported first-quarter earnings well ahead of estimates and raised its annual guidance. Its share count will also fall as it redeems over half of the preference shares held by KKR.

  • Caterpillar (NYSE:CAT) stock rose 4.8%, Nucor (NYSE:NUE) stock rose 3.8% and U.S. Steel (NYSE:X) stock climbed 4.7% and several other companies traded higher, buoyed by the prospect of an earnings boost from the Biden administration’s $1-trillion infrastructure package.

  • Krispy Kreme (NASDAQ:DNUT) stock fell 1.7% after Truist Securities downgraded its stance on the donut chain to ‘hold’ from ‘buy’, saying a labor shortage and rising wages could derail its expansion plans.

  • Aptiv (NYSE:APTV) stock fell 1.5% after Piper Sandler downgraded its stance on the auto parts company to ‘neutral’ from ‘overweight’, saying the stock has little upside left.

  • Regeneron (NASDAQ:REGN) stock rose 1.9% after the pharmaceutical company said that just a single dose of its antibody cocktail could provide long-term protection against Covid-19.

  • Live Nation Entertainment (NYSE:LYV) stock fell 2.9% in the wake of the tragic deaths at a Travis Scott concert over the weekend. The event promoter and venue operator has reportedly been named as a defendant in the associated lawsuit.

  • Autolus Therapeutics (NASDAQ:AUTL) stock rose over 26% after Blackstone (NYSE:BX) said it would invest up to $250 million in the biotech company.

  • McAfee (NASDAQ:MCFE) stock fell 3.2% after the Wall Street Journal reported that the cyber security firm is nearing a deal to sell itself to U.S. private equity firm Advent International for more than $10 billion.

 

Tesla, Live Nation Fall Premarket; Coty, Caterpillar Rise
 

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