7 June 2021
3841
2 min.
25
NYSE premarket
Tesla (NASDAQ:TSLA) shares fell 0.5% on the New York Stock Exchange premarket after CEO Elon Musk announced on Twitter (NYSE:TWTR) that the electric car maker has halted production of the Model S Plaid Plus, which was expected to be Tesla's longest-range car and the most expensive version of its flagship Model S sedan.
Shares in Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Netflix (NASDAQ:NFLX) will be in focus after the G-7 agreed to support a minimum global corporate tax rate of 15%.
AMC Entertainment shares are up 2.5%, GameStop (NYSE:GME) is up 1.2% and Blackberry is up 1.7%.
Shares of QTS Realty (NYSE: QTS) were up 21 per cent.
US Concrete (NASDAQ: USCR) shares rose more than 27% after the company agreed to acquire Vulcan Materials (NYSE: VMC) 0.7%), for $1.3bn.
Shares of KKR (NYSE: KKR) added 1.1% after the investment firm announced plans to buy airport services firm Atlantic Aviation from current owner Macquarie Infrastructure (NYSE: MIC), whose shares are up more than 13%, for nearly $4.5 billion, seeking to capitalize on growing demand for private jet services.
Progressive (NYSE: PGR) shares fell 2% after Morgan Stanley (NYSE:MS) downgraded the insurance company's stock from 'mid-market' to 'below market'.
Visa (NYSE:V) shares rose 1.2% after investment firm Piper Sandler upgraded its assessment of the payments company's stock from "mid-market" to "above market", saying it looked cheap compared to its main rival Mastercard (NYSE:MA), which has outperformed Visa over the past year.
Shares in Peloton (NASDAQ: PTON) rose 1.6% after Loop Capital Markets gave the fitness equipment company a 'buy' rating, saying recent difficulties, including the recall of around 125,000 Tread+ treadmills, were exaggerated and investors should buy the stock during the fall.
Biogen (NASDAQ: BIIB) shares rose 3.3% ahead of the FDA's decision on whether to approve the drug aducanumab, produced by that manufacturer to treat Alzheimer's disease.
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