By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, November 10th. Please refresh for updates.
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Amazon (NASDAQ:AMZN) stock fell 1.9% after the Financial Times reported that the European Commission is expected to shortly file formal antitrust charges against the tech company over its dual role as a marketplace for merchants and as a retailer competing to sell the same products.
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Beyond Meat (NASDAQ:BYND) stock slumped 22% after the plant-based meat producer posted a surprise quarterly loss and lower than expected sales on Monday. News that McDonald's (NYSE:MCD) has also launched its own meat substitute called "McPlant" also hit sentiment, with McDonald's has declined to confirm Beyond's claims that it will be a key supplier to the product range.
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Eli Lilly (NYSE:LLY) stock rose 3.6% after the U.S. Food and Drug Administration authorized emergency use of Eli Lilly’s experimental Covid-19 antibody treatment.
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Tesla (NASDAQ:TSLA) stock fell 1% as the electric car maker said it will reimburse some Model X and Model S owners to cover issues with a memory device that caused touchscreen blackouts.
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Microsoft (NASDAQ:MSFT) stock fell 2.1%, with the launch of two new models of its Xbox gaming console coming at a time when the pandemic-driven boom in consumer spending on games may be set to slow due to progress in developing a Covid-19 vaccine.
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Uber (NYSE:UBER) stock fell 0.4% despite news website Axios reporting that the U.S. Justice Department had cleared the ride-hailing company’s acquisition of food delivery company Postmates for $2.65 billion in an all-stock deal.
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Norwegian Cruise Line (NYSE:NCLH) stock rose 3.4% despite reporting a quarterly loss of $2.35 per share, wider than expected, while revenue was below estimates as well.
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Simon Property (NYSE:SPG) stock fell 3.6% after the mall owner reported disappointing third-quarter results Monday, with total revenue falling 25% to $1.06 billion from $1.42 billion a year earlier.
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HD Supply (NASDAQ:HDS) stock rose 1.6% despite Lowe’s denying it was in talks with the building products distributor, refuting a previous report by Bloomberg.
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Nikola (NASDAQ:NKLA) stock rose 1.5% after the electric truckmaker revealed a smaller loss than expected in the third quarter; investors were reassured by a net cash position of $900 million.
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Occidental Petroleum (NYSE:OXY) stock fell 0.5% after the crude producer reported a larger than expected third quarter loss, hit by a plunge in crude oil prices.
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Raytheon (NYSE:RTN) stock rose 2.3% after JP Morgan upgraded its investment stance on the tech company to ‘overweight’ from ‘neutral’, also lifting its price target to $79 from $66.
- Spirit Aerosystems (NYSE:SPR) stock rose 4.9% after JP Morgan lifted its stance on the aerostructures manufacturer to ‘overweight’ from ‘neutral’, raising its price target to $36 from $26.