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PepsiCo, Under Armour Rise Premarket; Eli Lilly, Clorox Fall

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By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Tuesday, August 3rd. Please refresh for updates.

NetEase (NASDAQ:NTES) stock fell 8.8% and Tencent Holdings (OTC:TCEHY) stock also weakened after a critical article in a state-run Chinese paper raised fears that the videogaming sector may be next to feel the pain of Chinese regulatory scrutiny. 

PepsiCo (NASDAQ:PEP) stock rose 0.5% after the soft drinks giant announced plans to sell its controlling stake in Tropicana, Naked and other juice brands in North America to private equity firm PAI Partners for $3.3 billion.

Alibaba (NYSE:BABA) ADRs fell 1.2% after the Chinese tech giant reported a 34% rise in quarterly revenue on Tuesday, helped by growth at its Cloud computing and e-commerce businesses.

Eli Lilly (NYSE:LLY) stock fell 1.9% after the drugmaker missed quarterly profit expectations, hit by weaker sales of its Covid-19 therapies as vaccinations ramped up.

BP (NYSE:BP) ADRs rose 5.7% after the U.K.-based oil major announced a higher dividend and increased its buyback program after returning to profit in the second quarter.

Clorox (NYSE:CLX) stock fell 10% after the consumer goods company disappointed with its full-year sales forecast, as demand for its cleaning products eased from pandemic highs.

Dupont De Nemours (NYSE:DD) stock rose 2.2% after the industrial materials maker reported a jump in second-quarter profit, helped by demand from chipmakers and automakers.

Under Armour (NYSE:UA) stock rose 6% after the athletic clothes retailer raised its annual revenue forecast as customers returned to gyms as coronavirus restrictions were eased.

ConocoPhillips (NYSE:COP) stock rose 1.1% after the oil giant posted a near doubling of profit in the second quarter, helped by higher oil and gas prices.

Marriott International (NASDAQ:MAR) stock rose 0.8% after the hotel chain returned to profit in the quarter, compared to a year-ago loss, as the tourist industry began to recover from the Covid battering.

Discovery (NASDAQ:DISCA) stock rose 1.1% after the streaming service beat expectations for second-quarter revenue on Tuesday, helped by the streaming subscriber additions, attracted by the ongoing Tokyo Olympics.

Translate Bio (NASDAQ:TBIO) stock soared 29% after French drugmaker Sanofi (NASDAQ:SNY) announced a $3.2 billion offer to buy the U.S. biotech company.

Simon Property Group (NYSE:SPG) stock rose 2.8% after the U.S. mall owner announced that sales at its shopping centers returned to pre-pandemic levels in June. 

 

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