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PepsiCo, Facebook And J&J Rise Premarket; Lordstown Motors Slumps By Investing.com

by Mike Robinson

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© Reuters.

Peter Nurse 

Investing.com — Premarket Trade on Tuesday October 5th: Stocks In Focus For the latest updates, please refresh.

  • Facebook (NASDAQ:) stock rose 1.2%, rebounding after losses of nearly 5% during the previous session on the back of a six-hour outage, the longest in the social media giant’s history. Frances Haugen, a whistleblower from Frances Haugen will testify against the company before Congress on Tuesday.

  • PepsiCoThe stock of (NASDAQ:) rose by 1% following the increase in revenue for full-year forecasts. As Covid-19’s social distancing measures were eased, the public opening of venues such as theaters or restaurants was a boost.

  • TeslaStock rose 0.7% on Monday after sharp losses in technology sector. An award for more than $130,000,000 in damages is due to the electric car company in a case involving racial harassment.

  • Johnson & Johnson(NYSE) Stock rose 0.5% after the drugmaker filed for an emergency use authorization to give a booster shot of Covid-19 in patients aged 18 or older.

  • Columbia Sportswear (NASDAQ:) stock fell 1.7% after Bank of America (NYSE:) downgraded its investment stance to ‘neutral’ from ‘buy’, citing supply chain issues in Asia, including factory closures in Vietnam.

  • SunPowerThe stock price of (NASDAQ) rose 1.7% after the company announced plans to restructure to concentrate on residential markets. It also intends to purchase rival Blue Raven (NASDAQ) and sell its industrial and commercial businesses.  

  • Lordstown Motors (NASDAQ:) stock slumped 9.4% after Morgan Stanley (NYSE:) downgraded its investment stance to ‘underweight’ from ‘equal weight’, cutting its price target to just $2 from $8. Concerns about Ohio’s electric vehicle maker’s sale price were raised by the bank.

 

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