By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, January 7th. Please refresh for updates.
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China Telecom (NYSE:CHA) stock fell 8.2%, China Mobile (NYSE:CHL) stock fell 4.5% and China Unicom (NYSE:CHU) stock fell 7.3% after the New York Stock Exchange reversed its reversal, saying it will delist the three Chinese telecommunication giants after all.
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Alibaba (NYSE:BABA) and Tencent Holdings (OTC:TCEHY) are likely to be in focus after the Wall Street Journal reported that the U.S. is considering extending a stock market ban to these internet giants. Both sets of ADRs fell over 4% in late trading in New York on Wednesday.
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Tesla (NASDAQ:TSLA) stock rose 3% after long-term bear RBC Capital Markets upgraded its investment stance on the stock of the electric car manufacturer to ‘sector perform’ from ‘underperform’, saying it got its original stance “completely wrong”.
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CureVac (NASDAQ:CVAC) stock soared 15% after the German biotech agreed to an alliance with Bayer (OTC:BAYRY) to help it seek regulatory approval for its experimental Covid-19 vaccine and distribute doses.
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Coca-Cola (NYSE:KO) stock rose 0.4% despite JP Morgan downgrading its stance on the soft drink manufacturer to ‘neutral’ from ‘buy’, citing concerns it will have to pay the bulk of the $3.4 billion tax bill it faces in a transfer pricing dispute with the Inland Revenue Service.
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Walgreens Boots (NASDAQ:WBA) stock rose 3.2% after the retailer reported stronger than expected fiscal first-quarter earnings, helped by healthy pharmacy sales. It took a $1.5 billion charge from its equity earnings in AmerisourceBergen (NYSE:ABC).
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ConAgra Foods (NYSE:CAG) stock rose 0.2% after the foods retailer reported a sales rise of 6.2% to nearly $3 billion for the fiscal second quarter, while forecasting current-quarter organic sales growth of 6% to 8%.