Tesla, Quidel, Chubb Rise Premarket; Allogene Tumbles
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, October 8th. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock rose 0.1% after the electric vehicle manufacturer’s chief executive Elon Musk confirmed that the company was moving its headquarters from California to Texas.
Pfizer (NYSE:PFE) stock rose 0.2% after the drugmaker asked U.S. health regulators to approve their Covid-19 vaccine for children 5 to 11 years old, meaning the shot could be potentially available to millions of youngsters in a matter of weeks.
Quidel (NASDAQ:QDEL) stock rose 6.8% after the maker of rapid diagnostic testing solutions reported strong quarterly results, boosted by a jump in Covid-19 related sales.
Allogene Therapeutics (NASDAQ:ALLO) stock fell 36% on the back of the FDA halting testing for a group of the company’s cancer cell therapies after a "chromosomal abnormality" was observed in a single patient.
Oshkosh (NYSE:OSK) stock fell 4% after the truck maker cut its fourth-quarter guidance, citing supply-chain and logistics disruptions hurting its ability to make shipments.
Life Time Group (NYSE:LTH) stock will be in focus after the newly floated chain of fitness clubs had a relatively weak first trading day on Thursday. It raised just over $700 million in its IPO after scaling back its offering.
Chubb (NYSE:CB) stock rose 0.8% on the back of the insurer agreeing to buy Cigna (NYSE:CI)'s life, accident, and supplemental benefits businesses in Asia Pacific and Turkey for $5.75 billion in cash. Cigna stock rose 1.1%.
Oatly (NASDAQ:OTLY) stock rose 6.9% after JPMorgan (NYSE:JPM) upgraded its investment stance on the alternative dairy producer to ‘overweight’ from ‘neutral’ after a hefty fall since June opened significant upside potential.
Sirius XM (NASDAQ:SIRI) stock fell 1.4% after JPMorgan downgraded its stance to ‘neutral’ from ‘overweight’, citing accelerated satellite investments.
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