Salesforce, Tesla Fall Premarket; Pfizer Gains

Salesforce, Tesla Fall Premarket; Pfizer Gains

© Reuters.  © Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Wednesday, December 2nd. Please refresh for updates.

  • Pfizer (NYSE:PFE) stock rose 3.4% after the U.K. regulator authorised the use of the pharma giant’s Covid-19 vaccine, becoming the western country to do so, with the drug set to be rolled out early next week.

  • Tesla (NASDAQ:TSLA) stock fell 2.7% after CNBC reported that CEO Elon Musk sent an email to employees Tuesday warning they will have to control costs or the stock “will immediately get crushed like a souffle under a sledgehammer!”

  • Salesforce (NYSE:CRM) stock fell 5.8% after the cloud-based software company agreed to buy workplace messaging app Slack for $27.7 billion, over half of the sum coming in cash and the rest in the form of Salesforce stock, creating a possible overhang among Slack's current investor base.

  • Walt Disney (NYSE:DIS) stock rose 0.2% after investment bank Citi lifted its price target for the media and entertainment conglomerate to $175, from $150, the highest on Wall Street, with a buy rating.

  • Walmart (NYSE:WMT) stock fell 0.1% after the retail giant announced it would drop the $35 minimum spend for its Walmart+ members to receive next-day or two-day shipping to better compete with Amazon (NASDAQ:AMZN) Prime.

  • Nvidia (NASDAQ:NVDA) stock fell 0.7% after Arm Holdings CEO Simon Segars said he expects regulators to “take a good look” at the $40 billion deal between the two companies.

  • Merck (NYSE:MRK) stock rose 0.2% after the drugmaker said it has sold its equity investment in vaccine developer Moderna (NASDAQ:MRNA), netting “a substantial gain.”

  • Boeing (NYSE:BA) stock rode 0.1% with American Airlines (NASDAQ:AAL) set to hold the first civilian passenger flight of the aircraft manufacturer’s 737 MAX in nearly two years. Newswires also reported that Ryanair (NASDAQ:RYAAY) was close to signing a new deal for the airliner.

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