Investing.com -- Stocks in focus in premarket trade on Tuesday, June 20th. Please refresh for updates.
FedEx (NYSE:FDX) stock rose 0.5% ahead of the delivery giant’s quarterly results, with investors looking to see whether cost cuts will help it catch up with rival United Parcel Service (NYSE:UPS) on the margin front.
Boeing (NYSE:BA) stock rose 0.1% after the head of Boeing Commercial Airplanes said Sunday the aircraft manufacturer expects to increase production of its best-selling 737 MAX to 38 jets a month "pretty soon."
NiSource (NYSE:NI) stock rose 0.4% after the utility firm agreed to sell a 19.9% equity interest in its unit NIPSCO for $2.15 billion to asset manager Blackstone's (NYSE:BX) infrastructure unit.
Palantir (NYSE:PLTR) stock fell 2.1% after Raymond James downgraded its stance on the data analytics company to ‘outperform’ from ‘strong buy’, citing its "premium" valuation after a strong run since its first-quarter print.
Alibaba (NYSE:BABA) ADRs fell 2.3% after the Chinese e-commerce giant announced that CEO Daniel Zhang will step down, in order to concentrate on the company’s cloud intelligence business.
Avis (NASDAQ:CAR) stock rose 4.1% after Morgan Stanley upgraded the budget car rental company to ‘overweight’ from ‘equal weight’, saying the stock is likely to add to the already strong gains seen this year.
PayPal (NASDAQ:PYPL) stock rose 2% after the payments company said investment firm KKR (NYSE:KKR) will purchase up to €40B (€1 = $1.0930) of its buy now, pay later loans in Europe.