Stocks - Pfizer, Merck Rise Premarket; Alphabet, Beyond Meat Tumble
Investing.com - Stocks in focus in premarket trading on Tuesday:
• General Motors (NYSE:GM) stock rose 1.4% in premarket trade by 8:20 AM ET (11:20 GMT) after it beat Wall Street estimates, despite a $1 billion hit to its bottom line from the UAW strike
• Boeing (NYSE:BA) stock dipped 0.2% ahead of testimony before the Senate by CEO Dennis Muilenburg on two fatal 737 Max crashes.
• Beyond Meat (NASDAQ:BYND) stock tumbled 18.9% after a surprise profit was not enough to outweigh comments that it would need to add discounts to combat competition. The company's conference call also reminded investors that early investors who who hold almost 80% of the company's stock will soon be allowed to sell it, as the post-IPO lockup period ends.
• Alphabet (NASDAQ:GOOGL), the parent company of Google, fell 1.5% after it reported earnings that came in below forecasts as expenses for the quarter increased due to investments in cloud computing.
• Pfizer (NYSE:PFE) stock gained 3.1% after its earnings came in above estimates and it raised its full-year forecast.
• Merck (NYSE:MRK) stock was up 2.5% after beating Wall Street forecasts and it raised its outlook for the year on strong sales of cancer treatment drugs.
• Mastercard (NYSE:MA) stock inched up 1.1% after it reported an 11% rise in profit due to more transactions and higher fees.
Related Articles
Wall Street set for subdued open on mixed earnings reports
Pfizer raises 2019 forecast on surging cancer drug sales
Saudi Aramco aims to begin planned IPO on November 3: sources
