Stock Groups

Biogen, Philips, Lucid Fall Premarket; Ocugen, Didi Global Rise -Breaking

by Mike Robinson

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© Reuters

Peter Nurse 

Investing.com — Premarket Trade on Wednesday January 12th: Stocks In Focus For the latest updates, please refresh.

  • BiogenThe stock of (NASDAQ:) plunged 8.5% following the announcement by the U.S. Medicare program that it would require Alzheimer’s patients to enroll in clinical trials, which will limit access to treatment. Piper Sandler downgraded its stance to “neutral” from “overweight”.

  • Lucid(NASDAQ): Stock dropped 1.1% after President Andrew Liveris revealed plans to create an electric vehicle factory in Saudi Arabia by 2025/2026.

  • PayPal (NASDAQ:) stock fell 1.9% after Jefferies downgraded its stance on the digital payments company to “hold” from “buy”, citing the normalizing of consumer conditions and limited catalysts ahead.

  • PhilipsADRs dropped 15% in the NYSE after a Dutch manufacturer of medical equipment warned that its fourth quarter profit would be affected. The company cited supply chain problems and customers who opted to defer installation.

  • Meta PlatformsStock fell 0.1% despite DoorDash’s CEO Tony Xu being appointed by Facebook. This was despite its owner, the company. 

  • Exxon Mobil The stock of (NYSE:) rose 0.3% following Reuters’ report that some oil companies had placed assets from Ohio shale on the block.

  • Didi Global (NYSE:) ADRs rose 5.1% following a report that the ride-hailing company’s Hong Kong IPO, announced in December, could happen in the second quarter of this year along with its withdrawal from the NYSE.

  • Wells Fargo (NYSE:) stock rose 0.9% after Piper Sandler upgraded its stance on the banking giant to “overweight” from “neutral”, saying the bank should benefit disproportionately from a climate of rising interest rates.

  • Ocugen (NASDAQ:) stock rose 5.8% after positive results from trials of the biopharmaceutical company’s vaccine candidate Covaxin.

 

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