Stock Groups

Citrix, Blackberry Fall Premarket; Spotify, Beyond Meat Rise -Breaking

by Mike Robinson

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© Reuters.

Peter Nurse 

Investing.com — Focus on stocks in premarket trading Monday, January 31st. Refresh to see the most recent updates.

  • Citrix Systems (NASDAQ:) stock fell 3.1% following a report in the Wall Street Journal stating that Elliott Management and Vista Equity Partners are close to agreeing a deal to take the private, at a price of $104/share, below Friday’s closing level.

  • SpotifyThe stock of (NYSE) rose 2.8% in the wake of accusations that it was used as an advertising platform for false information about Covid-19 vaccinations through comedian Joe Rogan’s podcasts. 

  • Beyond meat (NASDAQ:) stock rose 4.4% after Barclays upgraded its investment stance on the faux-meat producer all the way to “overweight” from “underweight”, saying its recent partnerships with restaurants will boost the stock.

  • Tesla (NASDAQ:) stock rose 1.8% after Credit Suisse upgraded the electric car manufacturer to “overweight” from “neutral”, citing the dramatic pullback for tech stocks during January.

  • Netflix (NASDAQ:) stock rose 3% after Citigroup upgraded its stance on the subscription streaming service to “buy” from “neutral”, saying current levels don’t assume material subscription growth beyond 2023.

  • Blackberry(TSX:), stock dropped 6.2% following the announcement by communications software firm that it would sell non-core patents of its legacy for $600million.

  • Otis WorldwideStock fell 3.9% on the NYSE after an elevator manufacturer warned sales growth would slow in this year. The forecast for 2022 earnings per share was significantly below consensus expectations.

 

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