Twitter, Alibaba, Las Vegas Sands Fall Premarket; Perrigo, Mattel Rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, July 11th. Please refresh for updates.
Twitter (NYSE: TWTR ) stock fell 5.4% after Elon Musk backed out of his $44 billion deal to buy the social-media giant and take it private, setting the scene for a prolonged and expensive legal battle.
Alibaba (NYSE: BABA ) ADRs fell 4.1% after China imposed fines on a number of tech companies, reportedly for not complying with anti-monopoly rules on disclosure of transactions.
Uber (NYSE: UBER ) stock fell 2% after a report by the International Consortium of Investigative Journalists indicated the ride-hailing service lobbied top political leaders to relax labor and taxi laws.
Perrigo (NYSE: PRGO ) stock rose 2.1% after the pharmaceutical company said a unit has submitted an application to the Food and Drug Administration for approval of an over-the-counter birth control pill.
Las Vegas Sands (NYSE: LVS ) stock fell 4.6% and Wynn Resorts (NASDAQ: WYNN ) stock fell 5.4% after Macau shut all its casinos for the first time in more than two years in a bid to contain the spread of COVID-19.
Meta Platforms (NASDAQ: META ) stock fell 2.4% after Needham downgraded its investment stance on the technology company to ‘underperform’ from ‘hold’, citing “deteriorating” fundamentals and structural risks.
Mattel (NASDAQ: MAT ) stock rose 3.2% after Goldman Sachs upgraded its stance on the toymaker to ‘buy’ from ‘neutral’, adding that it should benefit from demand related to new TV and film releases.
Qorvo (NASDAQ: QRVO ) stock fell 4.2% after Cowen downgraded its stance on the semiconductor to ‘market perform’ from ‘outperform’, citing slowing demand for smartphones.
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