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JD.com, Intel Fall Premarket; Novavax Rises -Breaking

by Mike Robinson

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© Reuters

Peter Nurse 

Investing.com — Premarket Trade on Thursday, December 23rd. For the latest updates, please refresh.

  • JD.com (NASDAQ:) ADRs fell 7.6% after the China-based online retail giant’s largest shareholder, Tencent Holdings (OTC:), announced plans to cut its stake in the company to 2.3% from 17%, saying it’s now large enough to not need its backing. Anti-monopoly regulators have been closely monitoring China’s Internet giants.

  • Novavax (NASDAQ:) stock rose 0.9% after the biotech said its two-dose Covid-19 vaccine demonstrated “strong immune responses” against Omicron and other Covid variants.  To improve immunity, other vaccines that have been widely approved required a booster shot.

  • Intel (NASDAQ:) stock fell 0.1% after the chip maker’s letter telling suppliers not to source products or labor from the Xinjiang region triggered a backlash, forcing an apology.

  • Exxon Mobil Stock rose 0.1% after NYSE reported that an oil major had set fire to its Baytown, Texas facility. This is the fourth-largest U.S. refinery.

  • Pfizer (NYSE:) stock rose 0.6% the day after the U.S. Food and Drug Administration granted emergency use authorization for the drugmaker’s Covid pill, the first oral antiviral drug against the virus.

  • Crocs (NASDAQ:) Stock fell 0.9% due to concerns about higher debt and equity dilution that the prominent shoe manufacturer must accept in order to finance its $2.5 Billion acquisition of Heydude.

 

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