By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, January 11th. Please refresh for updates.
Twitter (NYSE:TWTR) stock fell 7.4% after the social media giant’s decision to ban President Donald Trump, one of its most high-profile users, from its platform. This move deprives the company of one of its best traffic-generators, as well as risking controversy and possible new regulation over the policy of 'de-platforming'.
Similar concerns hit Apple (NASDAQ:AAPL) stock, which fell 1.2%, Alphabet (NASDAQ:GOOGL) stock, down 0.5% and Amazon (NASDAQ:AMZN) stock, down 0.7%, after the tech giants all stopped their associations with Parler, a social messaging service linked with a significant user base among the right wing.
Gilead (NASDAQ:GILD) stock rose 2% after the drugmaker raised its full-year profit forecast, boosted by increased sales of Covid-19 treatment remdesivir.
Eli Lilly (NYSE:LLY) stock soared 15% after the drug maker said an experimental medicine appeared to slow the decline of patients with the early symptoms of Alzheimer’s disease.
Goldman Sachs (NYSE:GS) stock dropped 0.8%, Morgan Stanley (NYSE:MS) stock fell 0.9% and JPMorgan Chase (NYSE:JPM) stock slipped 0.8% after the banking giants said they will delist 500 structured products in Hong Kong, following the U.S. ban on investments in companies linked to China’s military.
Nio (NYSE:NIO) ADR rose 11% after the Chinese electric vehicle maker’s CEO William Li said the company may decide to start producing mass-market vehicles under a different brand name. The market is also responding well to the launch of its new ET7 sedan, which boasts a range of 621 miles.
Tesla (NASDAQ:TSLA) stock fell 1.4% after recent hefty gains as the electric car manufacturer joined the benchmark S&P 500 index, making its founder Elon Musk the richest person in the world. The stock has climbed 44% over the last month.
Boeing (NYSE:BA) stock fell 4% after the crash of an 737-500 aircraft on Saturday near Jakarta, the Indonesian capital. Although this was not a 737 Max, the plane which was grounded after deadly crashes in 2018 and 2019, this accident will still raise questions.
Baidu (NASDAQ:BIDU) stock rose 3.4% after the Chinese search engine giant confirmed it will partner with carmaker Zhejiang Geely to make smart electric vehicles.
Lululemon Athletica (NASDAQ:LULU) stock fell 2.6% after the sports apparel company reported strong third-quarter sales of $1.1 billion, but declined to offer an outlook for the full year due to the ongoing effects of the Covid pandemic.