FedEx, Avis and PayPal rise premarket; Palantir falls

  • Stock Market News
FedEx, Avis and PayPal rise premarket; Palantir falls
Credit: © Reuters. -- 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 (NS: RYMD ) 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.

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