By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, November 16th. Please refresh for updates.
Walmart (NYSE: WMT ) stock rose 0.7% after the retail giant raised its annual sales and profit forecasts, expecting strong demand during the crucial holiday season.
Tesla (NASDAQ: TSLA ) stock fell 1.1% after CEO Elon Musk sold more shares of the electric vehicle maker a day earlier, while JPMorgan Chase brought a $162-million lawsuit against the company alleging breach of contract over stock warrants that came due this year.
Home Depot (NYSE: HD ) stock rose 0.8% after the retailer easily beat quarterly sales estimates, buoyed by a strong housing market that kept home improvement spending strong.
Pfizer (NYSE: PFE ) stock fell 0.9% after the drugmaker said it will allow generic manufacturers to supply its experimental antiviral Covid-19 pill to 95 low- and middle-income countries.
Microsoft (NASDAQ: MSFT ) stock rose 0.2% after Credit Suisse initiated coverage of the software giant at ‘outperform’, seeing significant growth ahead and another 19% stock price gain.
Southwest Airlines (NYSE: LUV ) stock fell 0.9% after Goldman Sachs downgraded its stance to ‘neutral’ from ‘buy’, citing last month’s operational problems. The influential investment bank also upgraded Allegiant Travel (NASDAQ: ALGT ), up 3.1%, to ‘buy’ from ‘neutral’, after it posted higher passenger traffic in October.
AbbVie (NYSE: ABBV ) stock fell 0.2% after a report mentioned the biopharmaceutical company’s Humira rheumatoid arthritis drug as the most extreme case of drugmakers hiking prices without justification in 2020.
Quantumscape (NYSE: QS ) stock fell 5.6% after Morgan Stanley downgraded its stance on the lithium battery maker to ‘equal weight’ from ‘overweight’, citing potential competition.
Lucid Group (NASDAQ: LCID ) stock rose 5.1% after the electric vehicle manufacturer reported more than 17,000 reservations for its Lucid Air car, up from 13,000 in the prior quarter.
Royalty Pharma (NASDAQ: RPRX ) stock rose 7.9% on the back of news that Berkshire Hathaway has taken a new $475 million stake in the drug royalty purchaser.
- Peloton (NASDAQ: PTON ) stock fell 1% after the fitness equipment maker announced plans to sell an additional $1 billion of its shares, trying to come up with cash amid slowing momentum for its product.
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