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Stocks - Uber, Regeneron Soar Premarket; Spotify Drops

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Monday, July 6th. Please refresh for updates.

Berkshire Hathaway (NYSE:BRKa) stock rose 2.5% and Dominion Energy (NYSE:D) dropped 1.8% after Warren Buffett’s investment vehicle agreed to buy Dominion’s natural gas transmission and storage network for $4 billion.

Uber (NYSE:UBER) stock rose 8.9% after the ride-sharing company agreed on a deal to buy food-delivery app Postmates in a $2.65 billion all-stock agreement. This would provide additional heft to its Uber Eats division.

Boeing (NYSE:BA) stock rose 2.2%, as the Wall Street Journal reported that the next stage of getting the company’s 737 MAX jets back into service could occur this week, with another government test flight assessing the safety of software fixes.

Facebook (NASDAQ:FB) stock rose 1.3% with CEO Mark Zuckerberg set to meet the leaders of civil rights groups on Tuesday to address the concerns over racism, discrimination and voter suppression on its site. These have prompted a boycott by major advertisers, hitting ad revenue.

Mylan (NASDAQ:MYL) stock rose 2.8% after receiving regulatory approval in India for emergency restricted use of its remdesivir drug in Covid-19 patients.

Ford (NYSE:F) stock rose 1.7% after the car manufacturing giant rolled out Monday the product and marketing strategy for its new family of Bronco SUVs,  designed to take on Fiat Chrysler Automobiles' profitable Jeep franchise.

Regeneron (NASDAQ:REGN) stock rose 4.3% after the pharma announced that it was moving to start a Phase 3 trial of its antibody cocktail to treat the Covid-19 virus.

Tesla (NASDAQ:TSLA) stock rose 6.2%, on track for another record high, after JPMorgan analyst Ryan Brinkman raised his stock price target to $295, from $275. Brinkman is the most bearish on Tesla of the 32 analysts surveyed by FactSet.

Spotify (NYSE:SPOT) stock dropped 1.4% after Bernstein downgraded its investment stance on the music streaming provider to underperform, saying it is unlikely to generate much earnings from Podcasts.

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