Johnson & Johnson, Blink, Farfetch Rise Premarket; Tesla Falls
Investing.com
Published Nov 12, 2021 07:59AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, November 12th. Please refresh for updates.
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Johnson & Johnson (NYSE:JNJ) stock rose 2.8% after the company said it will break into two separate companies, splitting off its consumer health division from its large pharmaceuticals unit.
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Blink Charging (NASDAQ:BLNK) stock rose 5.7% after the provider of charging stations reported its third-quarter revenue jumped more than seven-fold, well ahead of expectations.
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Alibaba (NYSE:BABA) ADRs fell 1.2% after China’s largest ecommerce platform reported that its sales grew 8.5% during the Singles Day shopping festival, the first time in history that its growth has slowed below 10%. Smaller rival JD.com (NASDAQ:JD) stock fell 0.4% in sympathy even though it reported that its sales rose around 29% from the previous year.
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Tesla (NASDAQ:TSLA) stock fell 0.5% after regulatory filings showed Friday that Chief Executive Officer Elon Musk sold more shares of the electric car maker, days after he sold $5 billion of the stock, or 3% of his total holdings, the first such move since 2016.
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Farfetch (NYSE:FTCH) stock rose 3.6% after Swiss luxury goods firm Richemont (OTC:CFRUY) revealed it was in advanced talks to expand its partnership with the online luxury fashion retail platform, including through the sale of a stake in its underperforming e-commerce unit Yoox Net-a-Porter (MI:YNAP).
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AstraZeneca (NASDAQ:AZN) ADRs fell 4.2% as the Anglo-Swedish drugmaker reported third-quarter profit short of estimates, citing high integration costs for newly-acquired Alexion (NASDAQ:ALXN) and disappointing sales of its cancer drug Tagrisso in China.
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Biogen (NASDAQ:BIIB) stock rose 2.6% after late stage studies reported positive results for the biotech company’s Alzheimer's drug Aduhelm.
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Nvidia (NASDAQ:NVDA) stock fell 1.5% after Wedbush downgraded its investment stance on the tech company to ‘neutral’ from ‘outperform’, citing its elevated valuation having gained over 45% this month.
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Hewlett Packard Enterprise (NYSE:HPE) stock fell 4.6% after Goldman Sachs (NYSE:GS) downgraded its stance on the company to ‘sell’ from ‘neutral’, citing the risk of corporate spending on information technology slowing.
- Lordstown Motors (NASDAQ:RIDE) stock fell 9.6% after the auto startup delayed the commercial production and deliveries of its first product, an all-electric pickup called the Endurance, once more.
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