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Beyond Meat, Pfizer and Nikola Rise Premarket; Adobe, Salesforce Fall

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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, January 5th. Please refresh for updates.

Beyond Meat (NASDAQ:BYND) stock rose 9.1% on the news that Yum! Brands-owned KFC will be selling its plant-based fried chicken at its U.S. restaurants. Yum

Carlyle Group (NASDAQ:CG) stock rose 0.1% after the private equity giant bought a 10% stake in logistics company Hyundai Glovis, an affiliate of Hyundai Motor, for around $510 million.

Pfizer (NYSE:PFE) stock rose 2% and BioNTech (NASDAQ:BNTX) stock climbed 2.9% after the two companies said they will work together to develop an mRNA-based vaccine against shingles, a debilitating and painful disease. Bank of America also upgraded its stance on Pfizer to “buy” from “neutral”.

Nikola (NASDAQ:NKLA) stock rose 2.3% after USA Truck (NASDAQ:USAK) announced a deal to buy 10 electric trucks. Separately, the electric vehicle maker dropped a $2 billion patent suit against Tesla (NASDAQ:TSLA).

Adobe (NASDAQ:ADBE) stock fell 3% and Salesforce (NYSE:CRM) stock dropped 3.3% after UBS downgraded its investment stance on both companies to “neutral” from “buy”, saying business software growth is slowing.

Pinterest (NYSE:PINS) stock rose 1.7% after Piper Sandler upgraded its stance on the image sharing service to “overweight” from “neutral”, saying the stock could bounce 60% this year after falling more than 50% over the last 12 months.

Alibaba (NYSE:BABA) ADRs fell 1.2% and Bilibili (NASDAQ:BILI) stock fell 4.1% after China's top market regulator fined the companies' units for failing to properly report about a dozen deals.

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