By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, January 26th. Please refresh for updates.
Alphabet (NASDAQ:GOOGL) stock fell 0.4% after the tech giant’s Google unit said it will not make contributions from its political action committee in this election cycle to any Congress member who voted against certifying the results of the presidential election.
Apple (NASDAQ:AAPL) stock rose 0.2% after the iPhone maker said its hardware engineering chief, Dan Riccio, will step down to oversee a new undisclosed project.
CureVac (NASDAQ:CVAC) stock fell 2.4% after the biotech firm said it plans to sell 5 million shares in a secondary offering, as it starts late-stage trials of its Covid-19 vaccine candidate.
Apollo Global Management (NYSE:APO) stock rose 5.1% after the investment firm said Leon Black would step down as chief executive following an independent review of his ties to the disgraced late financier Jeffrey Epstein.
3M Company (NYSE:MMM) stock rose 1.5% after the industrial conglomerate beat fourth-quarter earnings and sales estimates and reinstated guidance as it continues to produce the respirators used to protect against Covid-19.
Johnson & Johnson (NYSE:JNJ) stock rose 1.9% after the drugmaker posted an 8.3% rise in quarterly sales and said it would share details from its keenly watched coronavirus vaccine trial soon.
General Electric (NYSE:GE) stock rose 9.1% after the industrial conglomerate reported a better-than-expected free cash flow for the fourth quarter and forecast strong 2021 cash flow, as it benefits from a recovery at its power and renewable energy units.
Regeneron (NASDAQ:REGN) stock rose 1.9% after the pharmaceutical said its antibody cocktail reduced Covid-19 cases by half and prevented all symptoms in people at high risk of catching the coronavirus.
American Express (NYSE:AXP) stock fell 1.5% after the financial services giant reported a drop in travel and entertainment spending during the pandemic. That said, its fourth-quarter earnings came in ahead of consensus.
Verizon (NYSE:VZ) stock fell 1% after the telecommunications giant added fewer monthly bill-paying phone subscribers than expected during the fourth quarter, facing increased competition from its main rivals.
Raytheon (NYSE:RTN) stock rose 2.6% after the defense contractor reported quarterly earnings and revenue ahead of expectations, with his cybersecurity solutions in demand given a recent spate of high-profile hackings.
UBS (NYSE:UBS) rose 2.1% after the Swiss banking giant reported its best quarter since 2006 in terms of profit, boosted by a surge in trading volumes as well as lending to wealthy clients.
Rolls-Royce (LON:RR) (OTC:RYCEY) fell 1.3% after the engine manufacturer downgraded its outlook for 2021, saying it now expects a cash outflow of $2.7 billion in the year, reflecting lower flying hours for its engines.
GameStop (NYSE:GME) stock rose 17%, AMC Entertainment (NYSE:AMC) stock rose 9.7% and Blackberry (TSX:BB) stock rose 7.6%, continuing the sharp gains seen from these heavily shorted stocks as retail traders take on the short sellers.
Etsy (NASDAQ:ETSY) stock rose 8.7% after the e-commerce retailer received a boost from a tweet from Tesla (NASDAQ:TSLA) founder Elon Musk, who said he “kinda loves” the company after buying a gift for his dog.