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Virgin Galactic, AMC Entertainment, Coinbase Rise Premarket

Stock MarketsMay 24, 2021 08:05AM ET
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, May 24th. Please refresh for updates.

  • Virgin Galactic (NYSE:SPCE) stock rose 19% after the space travel company completed its first flight in more than two years, increasing the company’s chance of being commercially successful in taking paying customers into outer space.

  • AMC Entertainment (NYSE:AMC) stock rose 1.7% after rival Cineworld reported its U.K. reopening weekend had topped expectations as animated comedy "Peter Rabbit 2" drew crowds after months of lockdown, in a promising sign for the cinema industry ahead of the release of summer blockbusters. Its Chinese parent, Wanda, also sold most of its stake last week.

  • Coinbase Global (NASDAQ:COIN) stock rose 2.9% with the crypto-exchange benefitting from the bounce in the likes of Bitcoin, after a bout of weekend selling fueled by further signs of a gathering Chinese crackdown on the emerging sector. Goldman Sachs also upgraded its stance to ‘buy’.

  • HP (NYSE:HPQ) stock rose 2.2% after Citigroup upgraded its stance on the tech hardware company to ‘buy’ from ‘neutral’, citing a new growth cycle in personal computers.

  • Beyond Meat (NASDAQ:BYND) stock rose 3.9% after Bernstein upgraded the faux-meat producer to ‘outperform’, all the way from ‘underperform’, saying sales should improve as the economic reopening continues.

  • Martin Marietta Materials (NYSE:MLM) stock rose 0.7% after the construction materials supplier said it would buy HeidelbergCement (DE:HEIG)'s assets in California and Arizona for $2.3 billion. 

  • Ford (NYSE:F) stock rose 1.5% after the automaker said its new electric F-150 Lightning Pro would have a starting price for commercial customers of just under $40,000, with the series arriving next year.

  • Moderna (NASDAQ:MRNA) stock rose 1.5% after the drugmaker agreed a vaccine production agreement with South Korea’s Samsung (KS:005930) Biologics (KS:207940), enabling it to provide its Covid-19 vaccine to markets outside the United States beginning in the third quarter. 

  • Cabot Oil & Gas (NYSE:COG) stock rose 0.5% after it agreed to an all-stock merger of equals with gas producer Cimarex Energy (NYSE:XEC), down 0.8%, valued at $7.35 billion.

 

Virgin Galactic, AMC Entertainment, Coinbase Rise Premarket
 

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Hovanet Ladislau
Hovanet Ladislau May 24, 2021 9:50AM ET
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JeremyDjSkeezy Selph May 24, 2021 9:41AM ET
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