By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Tuesday, June 16th. Please refresh for updates.
Caterpillar (NYSE:CAT) stock was up 7.3% and General Electric (NYSE:GE) stock rose 6.1% after strong retail sales data restored confidence in the ability of beaten-down cyclical stocks to outperform. Eli Lilly (NYSE:LLY) stock rose 9.1% after the drugmaker said its breast-cancer drug Verzenio decreased recurrence and death in certain patients when prescribed in combination with standard adjuvant endocrine therapy. The findings broaden the potential for use of Verzenio, which first received authorization from the FDA in 2017. Apple (NASDAQ:AAPL) stock was up 2.4%, as the broader market move outweighed concerns about two new antitrust probes that the company faces in Europe. EU antitrust authorities are investigating whether Apple used its App Store and its Apple Pay service to abuse a dominant market position. McDonald’s (NYSE:MCD) stock was up 1.7% after a company update on sales as it reopens its restaurants around the world. Same-store sales so far in the second quarter were down only 12% in the U.S., but were still down by as much as 53% overseas. Some 95% of its restaurants globally are open for business. New York Mortgage Trust (NASDAQ:NYMT) stock was up 14.7% after the company said on Monday it will resume dividend payments. Hertz Global (NYSE:HTZ) stock was up 13.8% after its eye-catching $500 million stock sale filing on Monday. The prospectus warned in five separate places that the stock could be worthless, given the state of its chapter 11 bankruptcy proceedings.