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.