By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, June 11th. Please refresh for updates.
Tesla (NASDAQ:) stock rose 0.5% after the electric car manufacturer unveiled its Model S Plaid at an event held at its Fremont, California factory, with the new high-end version of its Model S selling for just under $130,000.
Chewy (NYSE:) stock fell 1.3% after the pet-product retailer warned of labor shortages, higher wages eating into margins and supply chain challenges despite the company’s swing back to profit.
Vertex Pharmaceuticals (NASDAQ:) stock fell 13% after the biotech decided not to go ahead with its attempt to develop a drug for a rare liver disorder, a setback in its attempt to broaden its offerings beyond cystic fibrosis drugs.
Snowflake (NYSE:) stock fell 3.7% after the cloud computing company presented a highly ambitious financial target of reaching $10 billion in annual product revenue by 2029 at its Investor Day meeting, compared with $554 million in its fiscal year that ended in January.
Royal Caribbean (NYSE:) stock fell 2% after the cruise operator reported that two passengers aboard its Millennium cruise ship tested positive for Covid-19. The passengers have been isolated, and the cruise line is currently conducting contact tracing.
Biogen (NASDAQ:) stock rose 1.4% after UBS upgraded its stance on the drug maker to ‘buy’ from ‘neutral’, citing the FDA’s approval this week of its Alzheimer’s disease treatment Aduhelm.
Zoom Video Communications (NASDAQ:) stock rose 0.6% after RBC Capital Markets initiated coverage with an ‘outperform’ rating, calling the video conferencing company a top pick. The bank says a hybrid return to office in the corporate world is an opportunity for Zoom to differentiate itself and excel.
Dave & Buster’s Entertainment (NASDAQ:) stock rose 5.1% after the restaurant and entertainment company reported better than expected first-quarter earnings, actually reporting a profit.
Deutsche Bank (DE:) stock fell 1.5% after reports stated that the ECB has asked the German bank not to wait too long in naming a successor to Chairman Paul Achleitner, allowing the central bank enough time to vet the candidate to replace him.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.