By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, August 10th. Please refresh for updates.
Twitter (NYSE:TWTR) stock rose 3.2% after the Wall Street Journal reported that the social media giant has held preliminary talks with TikTok about potentially buying its U.S. operations. Microsoft (NASDAQ:MSFT) has already been linked to these assets, and its stock dropped 0.6%.
Apple (NASDAQ:AAPL) stock rose 1.3% after investment firm Wedbush lifted its price target on the iPhone maker to $515 from $475, with $600 as its bull case, citing expected demand for the iPhone 12 at its October launch.
Simon Property Group (NYSE:SPG) stock rose 5.8% after the Wall Street Journal reported over the weekend that the mall operator was joining forces with Amazon.com (NASDAQ:AMZN) and looking at converting mall space formerly occupied by J.C. Penney and Sears into Amazon distribution centers.
Berkshire Hathaway (NYSE:BRKa) stock rose 0.6% after Warren Buffett’s investment vehicle reported that second-quarter net income surged 87% despite taking a $9.8 billion writedown on the back of the pandemic. It also announced share buybacks of $5.1 billion in the quarter.
Eastman Kodak (NYSE:KODK) stock dropped more than 36% after the U.S. government delayed handing over a loan of $765 million that would have helped the company make generic drugs. The deal is paused until allegations of insider trading are cleared.
Barrick Gold (NYSE:GOLD) stock rose 2% after the miner raised its quarterly dividend by 14%, returning some of the windfall it’s getting from gold’s record rally to its shareholders.
Marriott International (NASDAQ:MAR) stock fell 2.9% after the hotel operator reported its first quarterly loss in nearly nine years, as extended travel disruption due to the pandemic hammered bookings.
Duke Energy (NYSE:DUK) stock rose 1.6% despite reporting a second-quarter loss of $802 million, as the market had expected a weaker figure given the dramatic impact on the energy market from the pandemic.