By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, March 12th. Please refresh for updates.
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Novavax (NASDAQ:NVAX) stock soared 16% after the drug maker said its Covid-19 vaccine was 96% effective in preventing cases caused by the original version of the coronavirus in a late-stage trial, moving it a step closer to regulatory approval. It also showed 86% efficacy against the new variant first observed in the U.K. and 60% efficacy against the so-called South African variant.
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Tesla (NASDAQ:TSLA) stock fell 2.9% after a fire at the electric carmaker’s factory in Fremont, California. There were no reports of injuries, and the fire has been brought under control, but it could set back production at a time when rivals are also ramping up output..
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DocuSign (NASDAQ:DOCU) stock fell 4% despite the company reporting better than expected fourth-quarter results and delivering upbeat guidance. The stock has gained around 200% over the last year.
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Ulta Beauty (NASDAQ:ULTA) stock fell 9.1% after the beauty retailer announced that CEO Mary Dillon will be stepping down in June, to be replaced by company president Dave Kimbell. Additionally, net sales fell 4.6% from the fourth quarter of 2019 partly due to pandemic lockdowns and a decrease in cosmetics sales.
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Funko (NASDAQ:FNKO) stock rose 10% after the toy manufacturer posted strong fourth-quarter results, helped by strong sales in key products lines like “The Mandalorian”.
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Poshmark (NASDAQ:POSH) stock slumped 12% after the e-commerce company offered disappointed guidance for the current quarter in its first results since going public.
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JD.com (NASDAQ:JD) ADR fell 3% after Reuters reported that the Chinese e-commerce company is in talks to buy part or all of a stake in brokerage Sinolink Securities worth at least $1.5 billion.
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Translate Bio (NASDAQ:TBIO) stock rose 5% after the therapeutics company announced it has started, along with partner Sanofi (PA:SASY) (NASDAQ:SNY), a clinical trial for its Covid-19 vaccine candidate.
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Alibaba (NYSE:BABA) ADR fell 2.1%, Baidu (NASDAQ:BIDU) stock fell 2.5% and Tencent (HK:0700) Music (NYSE:TME) stock fell 3% after a group of 12 companies were fined - albeit largely token amounts - by the Chinese regulator for anti-competitive practices.
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Netflix (NASDAQ:NFLX) stock fell 1.3%, weakening with the tech selloff, while the streaming service is testing a new policy aimed at stopping the sharing of subscriber passwords.
- Verizon (NYSE:VZ) stock rose 0.5% after the telecommunications giant saw healthy demand at its $25 billion debt sale to help expand its next-generation 5G mobile service.