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


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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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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.