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Square Falls Premarket; Moderna, Caterpillar, Levi Strauss Rise

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By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Monday, August 2nd. Please refresh for updates.

Square (NYSE:SQ) stock fell 4.4% after the payments company announced plans to acquire Afterpay in a $29 billion deal, a roughly 30% premium to the Australian fintech company’s last closing price.

Foot Locker (NYSE:FL) stock fell 0.2% after the Wall Street Journal reported that the footwear retailer is set to buy two other retailers for a total of about $1.1 billion in cash deals.

Pfizer (NYSE:PFE) stock rose 0.8% and Moderna (NASDAQ:MRNA) stock rose 2.5% after the drugmakers agreed a new deal with the European Union to supply their Covid-19 vaccines at a significantly higher price.

Caterpillar (NYSE:CAT) stock rose 0.4% with the U.S. Senate likely to agree a $1 trillion infrastructure investment bill this week that will likely benefit the heavy equipment manufacturer.

Bloomin Brands (NASDAQ:BLMN) stock rose 4.3% after Deutsche Bank (DE:DBKGn) upgraded its stance on the restaurant company to ‘buy’ from ‘hold’, saying the stock can gain 35% if investors are patient.

Levi Strauss (NYSE:LEVI) stock rose 2.1% after Stifel initiated coverage on the jeans manufacturer with a ‘buy’ rating, saying the stock can jump around 40%.

Ferrari (NYSE:RACE) stock fell 0.5% after the luxury carmaker chose not to upgrade its full-year forecasts despite its core profit tripling in the second quarter as shipments increased.

Parker-Hannifin (NYSE:PH) stock fell 1.6% after the company which specializes in motion control technologies is in the process of buying U.K. rival Meggitt (LON:MGGT) for just under $9 billion in cash.

Zoom Video Communications (NASDAQ:ZM) stock rose 0.6% after the video conferencing company agreed to pay $85 million to settle a lawsuit claiming it violated users' privacy rights by sharing personal data.

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