Stocks - FAANGs Slide in Premarket, Teva Sinks, Uber Extends Losses
Published May 13, 2019 08:18AM ET
Investing.com - Stocks in focus in premarket trade Monday:
• FAANG stocks Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Google (NASDAQ:GOOGL) all slid between 2% and 3% by 8:16 AM ET (12:16 GMT) as the high-value tech stocks were hit by concerns that the tariff battle between the U.S. and China would hit their profits.
• Uber (NYSE:UBER) stock tumbled 6.9%, extending the decline of nearly 8% that the company registered on its first day of trade last Friday. Its ride-hailing rival Lyft (NASDAQ:LYFT) was indicated to open down another 3.1% - a loss of 30% from its IPO price in March.
• Teva Pharmaceutical (NYSE:TEVA) stock sank 8.7% after the company was named in a lawsuit for allegedly fixing drug prices.
• Walt Disney (NYSE:DIS) stock fell 1.5% amid risk-off sentiment despite the fact that its “Avengers: Endgame” continued to rake in the money at the box office for a third consecutive weekend.
• Catalyst Pharmaceuticals (NASDAQ:CPRX) stock jumped 17.8% after reporting a much narrower loss than expected for the first quarter. The stock still remains nearly 50% below the level it was at when the Food & Drug Administration approved a drug last week that competes with Catalyst's Firdapse.
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Written By: Investing.com
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