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Goldman Sachs, Procter & Gamble and GM Rise Premarket

·3 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, October 20th. Please refresh for updates.

Goldman Sachs (NYSE:GS) stock rose 0.7% after Bloomberg reported late Monday that the investment bank had reached an agreement with the U.S. Department of Justice to pay more than $2 billion for the bank's role in Malaysia's 1MDB scandal.

Procter&Gamble

Tesla (NASDAQ:TSLA) stock rose 0.3% despite the electric car manufacturer’s vehicle registrations in the U.S. state of California dropping 13% in the third quarter from last year's level, according to data from Cross-Sell, a research firm that collates title and registration data.

ACI Worldwide (NASDAQ:ACIW) stock rose 1.9% after activist investor Starboard Value boosted its stake in the payment systems company to 9%, according to a regulatory filing made on Monday.

General Motors (NYSE:GM) stock rose 1.1% after the car giant said in a statement Monday that it planned to make a "major U.S. manufacturing investment announcement" on Tuesday. GM is expected to announce a significant investment to expand production of electric vehicles at a factory in Spring Hill, Tennessee and potentially other sites.

Parsley Energy (NYSE:PE) stock rose 11% after the Wall Street Journal reported that it was in discussions to be bought by Pioneer Natural Resources (NYSE:PXD) in an all-stock deal.

Moderna (NASDAQ:MRNA) stock rose 2.9% after the company’s CEO Stéphane Bancel said the federal government could authorize emergency use of its experimental Covid-19 vaccine in December, if the company gets positive interim results in November from a large clinical trial.

Alphabet (NASDAQ:GOOGL)

Intel (NASDAQ:INTC) stock rose 0.2% after the U.S. chipmaker reached a deal to sell its flash-memory manufacturing business to South Korea’s SK Hynix (KS:000660) for about $9 billion.

UBS (NYSE:UBS) stock rose 7.3% after the Swiss banking giant reported a near doubling of its net profit in the quarter, its best third quarter in a decade.

Logitech (NASDAQ:LOGI) stock soared 18% after the computer hardware provider reported a big jump in second-quarter profit and again hiked its guidance, helped by the work-from-home boom.

IBM (NYSE:IBM) stock dropped 3.3% after reporting its third straight drop in quarterly revenue and refraining from issuing a forecast for the current quarter, something it explained with the uncertainty around the global economic recovery.

Travelers (NYSE:TRV) stock rose 2.6% after the insurer posted stronger-than-expected profit and revenue for the third quarter, despite high catastrophe losses.

Lockheed Martin (NYSE:LMT) stock rose 0.1% after the U.S. weapons maker reported a 5.6% rise in third-quarter profit, helped by higher sales in its aeronautics unit, and raised its full-year earnings forecast.

Microsoft (NASDAQ:MSFT) stock rose 0.6% after the Wall Street Journal reported that the software giant is teaming up with Elon Musk's SpaceX in cloud-computing for space customers.

Albertsons (NYSE:ACI) stock rose 4.9% after the grocery company reported strong 2Q results, including sales growth of almost 14%; digital sales more than tripled.

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