Adobe, Fox and Smith & Wesson Rise Premarket By Investing.com

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© Reuters.

By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Friday, June 18th. Please refresh for updates.

  • Adobe (NASDAQ:) stock rose 2.8% after the software giant easily beat second-quarter targets, benefiting from customers moving towards a digital lifestyle by offering more mobile-based applications.

  • Fox Corp (NASDAQ:) stock rose 1% after the entertainment announced plans to add $2 billion to its stock repurchase plan, bringing the total amount authorised to $4 billion.

  • Smith & Wesson (NASDAQ:) stock rose 4.5% after the gun manufacturer reported  strong quarterly results, a new share buyback program and a higher dividend. 

  • Lennar (NYSE:) stock rose 1.4% after Goldman Sachs (NYSE:) upgraded its recommendation on the real estate company to ‘overweight’ from ‘neutral’, seeing nearly 50% upside in a hot housing market.

  • Athira Pharma (NASDAQ:) stock slumped 39% after the company placed its Chief Executive Officer Leen Kawas on temporary leave as it completes a review “stemming from doctoral research Dr. Kawas conducted while at Washington State University.”

  • Delta Air Lines (NYSE:) stock rose 0.2% and Alaska Air (NYSE:) stock rose 0.2% after Wolfe Research upgraded both airlines to ‘outperform’ from ‘underperform’ and ‘peer perform’ respectively, stating that the companies managed through the pandemic without needing to raise significant amounts of cash

  • Codexis (NASDAQ:) stock rose 3.1% after the enzyme engineering company announced a $13.9 million order from a global pharmaceutical company, lifting its guidance for FY 2021.

  • Orphazyme (NASDAQ:) stock slumped over 50% after the Food and Drug Administration rejected its experimental treatment for a rare genetic disorder known.

  • Biogen (NASDAQ:) stock rose 1.6% after Piper Sandler upgraded its investment stance to ‘overweight’ from ‘neutral’, citing the likely success of its newly approved Alzheimer’s drug Aduhelm.

 

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