Geoffrey Smith

Investing.com — Premarket Trading on Monday 11 October: Stocks In Focus Refresh to receive updates

• Southwest AirlinesThe stock of (NYSE:) fell 2.6% following a highly disrupted weekend in flight movements. Bad weather in Florida caused severe disruptions to aircraft and staff availability. Over 1,000 flights were cancelled by the airline on Sunday. This is more than 25% of its scheduled flight schedule. 
• Aspen TechStock rose 4.2% as Emerson (NYSE) Electric announced that it would spin-off its industrial software businesses into the company. The deal was intended to provide a greater range of services to industrial customers. After trading down in the premarket, Emerson stock was unaffected.
• HasbroThe stock of (NASDAQ:) fell 1.3% following the announcement that Brian Goldner, CEO, will be taking immediate medical leave. Rich Stoddart will assume the CEO role on an interim basis. He is the lead independent director of the company. 
• MeituanAfter the company was cleared of an antitrust investigation, ADRs rose by 4.7% and reached their highest level in just two months. China’s competition regulator fined the company $534 million after it was found guilty of abuses in a dominating position on the market for food delivery. ADRs from other Chinese countries rose in sympathy as they hoped that Beijing’s ban on tech companies would not result in the worst possible scenario.
• Exxon Mobil The stock of (NYSE:) rose 1.5% to reach a new three-month peak as crude oil prices continued to rise. Futures reached a new seven-year high in New York as the trading began. This was despite a strong squeeze on global gas and coal markets. 
• AstraZenecaADRs rose 0.6% in NASDAQ after the announcement of promising results from a trial for an experimental antiviral medication for Covid-19. According to the company, half of the serious illnesses that could be caused by the drug were reduced in the trial it conducted for Covid-19. This was a bit more than Merck’s (NYSE:).
• MerckStock rose by 0.6% following the formal request for emergency authorization from the pharmaceutical company to use its antiviral Covid-19 tablet, which may be the first orally administered drug that is effective against coronavirus.
• KKR Stock rose 0.8% on Friday as the remaining founders of the private equity firm announced that they would step down to hand over the reins and the company’s long-standing insiders.