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Stocks - Tesla, Amazon Rise in Premarket; PG&E Plunges

Investing.com - Stocks in focus in premarket trade Friday:

• Tesla (NASDAQ:TSLA) advanced 1.2% by 8:30 AM ET (13:30 GMT) after CEO Elon Musk broke ground on the company’s new factory in China outside Shanghai.

• Citigroup (NYSE:C) fell 0.2% despite an upgrade to outperform from neutral by Macquarie, while Bank of America (NYSE:BAC) fell 0.3% after Macquarie moved it to neutral from outperform.

• General Electric (NYSE:GE) rose 3% on a report its aircraft leasing unit could be a target for private equity firm Apollo Global Management.

• Loxo Oncology (NASDAQ:LOXO) soared 65% on news Eli Lilly (NYSE:LLY) will buy the company for about $8 billion. Lilly fell about 2.9%.

• Pacific Gas & Electric (NYSE:PCG) plunged 18% following a report from Reuters after the bell Friday that the utility could be weighing bankruptcy in the wake of the California wildfires.

• Amazon (NASDAQ:AMZN) rose 1.5% after Pivotal Research initiated coverage on the stock with a buy rating and a $1920 price target, Briefing.com reported.

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