Stocks - Citigroup, Amazon.com, Rise Premarket; Boeing, CIRCOR Fall
Investing.com - Stocks in focus in premarket trading on Monday:
• Citigroup (NYSE:C) stock rose 0.8% in premarket trade by 8:20 AM ET (12:20 GMT) after its earnings came in higher than expected. The bank reported earnings per share of $1.95 on $18.8 billion revenue in the second-quarter. Revenue rose 2% on a $350 million pre-tax gain on its investment in Tradeweb, while higher revenue in global consumer banking was offset by declines in investment banking, fixed income and equity markets revenue.
• Boeing (NYSE:BA) stock fell 1.2% after American Airlines Group said it is extending the cancellation of daily flights into early November due to the ongoing grounding of Boeing’s 737 Max jets. The news follows a Wall Street Journal report that suggested the model could stay grounded until next year.
• Amazon.com (NASDAQ:AMZN) stock gained 0.5% as the company’s annual discount-shopping sale kicks off. Workers in the U.S. and European Union are planning strikes on Prime Day to protest salaries and unsafe working conditions at fulfillment centers.
• Gilead Sciences (NASDAQ:GILD) stock was up 0.4% on news that it is investing $5.1 billion to raise its stake in Belgian-Dutch biotech company Galapagos (NASDAQ:GLPG) in a collaboration that would reduce Gilead's dependence on its hepatitis C treatment.
• OrganiGram (NASDAQ:OGI) stock declined 6% after the company reported a loss of $0.07 per share, well below estimates, as cannabis yields during its fiscal third-quarter fell due to changes in growing protocols. The Canadian cannabis company reported revenue of $24.75 million, which was better than expected.
• CIRCOR International (NYSE:CIR) slumped 17.3% after Crane Company (NYSE:CR) said it would not extend its offer to acquire it, saying the CIRCOR board failed to engage in any discussions. The current offer lapses on Friday.
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