Tesla, Vir Biotechnology, Illumina Rise Premarket; Rivian Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, January 11th. Please refresh for updates.
Tesla (NASDAQ: TSLA ) stock rose 0.9% after the U.S. electric vehicle maker sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019.
Twitter (NYSE: TWTR ) stock rose 0.6% after the social media giant bought a minority stake in digital advertising startup Aleph Group.
Rivian (NASDAQ: RIVN ) stock fell 4.1% following reports that head of operations Rod Copes left the electric vehicle maker at the end of last month.
General Electric (NYSE: GE ) stock rose 1% after Bernstein initiated coverage of the industrial conglomerate with a “buy” rating, saying the stock can rally 20% ahead of its three-way split.
CVS Health (NYSE: CVS ) stock rose 1.3% after the pharmacy chain raised its full-year earnings outlook, benefiting from the need for customers to buy Covid tests and remedies.
Intel (NASDAQ: INTC ) stock rose 1.1% after the chipmaker named Micron (NASDAQ: MU ) finance head David Zinsner as CFO and executive vice president from Jan. 17. Micron stock fell 0.5%.
Vir Biotechnology (NASDAQ: VIR ) stock rose 8.9% after the United States agreed to buy 600,000 more doses of the antibody-based Covid-19 treatment the U.S. drugmaker manufacturers with British partner GSK.
Illumina (NASDAQ: ILMN ) stock rose 4.5% after impressing with its 2022 revenue outlook, noting strong demand for its gene sequencing treatments.
IBM (NYSE: IBM ) stock fell 2.6% after UBS downgraded its stance on the tech giant to “sell” from “neutral”, citing an elevated valuation.
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