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Twitter, Alibaba, Las Vegas Sands Fall Premarket; Perrigo, Mattel Rise

Published 07/11/2022, 08:14 PM
Updated 07/11/2022, 08:14 PM
© Reuters.

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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