🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Moderna, Xpeng and Uber rise premarket; State Street falls

Published 17-04-2023, 05:34 pm
© Reuters

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, April 17th. Please refresh for updates.

  • Merck (NS:PROR) (NYSE:MRK) stock fell 0.1% after the drugs giant announced Sunday plans to acquire Prometheus Biosciences (NASDAQ:RXDX), up 70%, for just short of $11 billion, building up its presence in immunology.

  • State Street (NYSE:STT) stock fell 8.4% after the financial services company reported disappointing first-quarter results, with earnings and revenue both below expectations.

  • Moderna (NASDAQ:MRNA) stock rose 2.5% after the company’s experimental mRNA cancer vaccine significantly cut the risk of death or recurrence of the most deadly skin cancer.

  • Xpeng (NYSE:XPEV) stock rose 11% after the Chinese electric vehicle maker unveiled a new platform it developed in-house for making vehicles, which it said will reduce development and manufacturing costs.

  • Dell (NYSE:DELL) stock fell 2.1% after JPMorgan downgraded its stance on the tech giant to ‘neutral’ from ‘overweight’, while HP (NYSE:HPQ) stock rose 2.3% after the investment bank lifted it to ‘overweight’ from ‘neutral’.

  • Uber (NYSE:UBER) stock rose 1.2% after Jefferies called the ride-sharing firm a top pick in a note, expecting long-term earnings growth to drive its shares around 50% higher.

  • M&T Bank (NYSE:MTB) stock rose 3.1% after the lender beat expectations for first-quarter profit, as the Federal Reserve's rapid rate hikes to tame high inflation boosted its interest income.

  • Amneal Pharmaceuticals (NYSE:AMRX) stock rose 8.8% after the pharma company reported strong first-quarter revenue growth and reaffirmed its 2023 guidance.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.