© Reuters. By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, October 20th. Please refresh for updates.
Goldman Sachs (NYSE:) stock rose 0.7% after Bloomberg reported late Monday that the investment bank had reached an agreement with the U.S. Department of Justice to pay more than $2 billion for the bank’s role in Malaysia’s 1MDB scandal.
- Procter & Gamble (NYSE:) stock rose 1.8% after the company reported 9% sales growth in the first quarter, lifting its full-year guidance on both earnings and shareholder returns..
Tesla (NASDAQ:) stock rose 0.3% despite the electric car manufacturer’s vehicle registrations in the U.S. state of California dropping 13% in the third quarter from last year’s level, according to data from Cross-Sell, a research firm that collates title and registration data.
ACI Worldwide (NASDAQ:) stock rose 1.9% after activist investor Starboard Value boosted its stake in the payment systems company to 9%, according to a regulatory filing made on Monday.
General Motors (NYSE:) stock rose 1.1% after the car giant said in a statement Monday that it planned to make a “major U.S. manufacturing investment announcement” on Tuesday. GM is expected to announce a significant investment to expand production of electric vehicles at a factory in Spring Hill, Tennessee and potentially other sites.
Parsley Energy (NYSE:) stock rose 11% after the Wall Street Journal reported that it was in discussions to be bought by Pioneer Natural Resources (NYSE:) in an all-stock deal.
Moderna (NASDAQ:) stock rose 2.9% after the company’s CEO Stéphane Bancel said the federal government could authorize emergency use of its experimental Covid-19 vaccine in December, if the company gets positive interim results in November from a large clinical trial.
- Alphabet (NASDAQ:) (NASDAQ:) stock fell 0.7% after the U.S. Justice Department said that it would hold a media briefing later Tuesday on an antitrust announcement. Although the Justice Department but did not mention Alphabet’s Google it is expected to sue the internet giant this week for allegedly breaking antitrust law in using its market power to grow its business.
Intel (NASDAQ:) stock rose 0.2% after the U.S. chipmaker reached a deal to sell its flash-memory manufacturing business to South Korea’s SK Hynix (KS:) for about $9 billion.
UBS (NYSE:) stock rose 7.3% after the Swiss banking giant reported a near doubling of its net profit in the quarter, its best third quarter in a decade.
Logitech (NASDAQ:) stock soared 18% after the computer hardware provider reported a big jump in second-quarter profit and again hiked its guidance, helped by the work-from-home boom.
IBM (NYSE:) stock dropped 3.3% after reporting its third straight drop in quarterly revenue and refraining from issuing a forecast for the current quarter, something it explained with the uncertainty around the global economic recovery.
Travelers (NYSE:) stock rose 2.6% after the insurer posted stronger-than-expected profit and revenue for the third quarter, despite high catastrophe losses.
Lockheed Martin (NYSE:) stock rose 0.1% after the U.S. weapons maker reported a 5.6% rise in third-quarter profit, helped by higher sales in its aeronautics unit, and raised its full-year earnings forecast.
Microsoft (NASDAQ:) stock rose 0.6% after the Wall Street Journal reported that the software giant is teaming up with Elon Musk’s SpaceX in cloud-computing for space customers.
Albertsons (NYSE:) stock rose 4.9% after the grocery company reported strong 2Q results, including sales growth of almost 14%; digital sales more than tripled.
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