By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, March 22nd. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock rose 3.1% after the investment management firm Ark Invest lifted its price target on the electric car manufacturer’s stock to $3,000 by 2025, compared with $654.87 as of Friday’s close. Tesla accounts for over 10% of assets under management in Cathie Wood’s ARK Innovation ETF (NYSE:ARKK)
AstraZeneca (NASDAQ:AZN) ADR rose 2.3% after data from a U.S. trial showed the drugmaker’s vaccine was 79% effective at preventing symptomatic Covid-19, potentially paving the way for its emergency authorization in the United States. It also reinforced the company’s earlier findings about the vaccine’s safety, which had been questioned by some European governments (but not the EU medicines regulator).
Kansas City Southern (NYSE:KSU) stock soared over 17% after Canadian Pacific (NYSE:CP) Railway, down 3%, agreed to buy the transportation company for $25 billion in a cash-and-shares deal to create the first rail network connecting the United States, Mexico, and Canada.
Blackstone (NYSE:BX) stock fell 0.1% after the investment firm proposed a buyout of Australia’s Crown Resorts (OTC:CWLDY) in a deal valuing the casino operator at $6.2 billion, a markdown from the troubled company’s value a year ago.
Royal Caribbean (NYSE:RCL) stock fell 0.9% despite the cruise operator saying two of its cruises will resume in June, with adult passengers having to test negative for Covid-19 before getting on a ship. The pandemic has halted all sailings for the last year.
JetBlue (NASDAQ:JBLU) stock fell 4.8% after the airline announced it is planning to raise $650 million through the sale of convertible senior notes due in 2026.
- PepsiCo (NASDAQ:PEP)stock rose 0.8% after Barclays (LON:BARC) upgraded its investment stance on the soft drinks maker to ‘overweight’ from ‘equal weight’, citing its recent underperformance and the potential for sharp revenue and profit growth.
- Apollo Global Management (NYSE:APO) stock rose 1.4% after it was announced that Leon Black is completely severing ties with the private equity firm amid scrutiny over his ties with disgraced financier Jeffrey Epstein. Apollo announced Monday that Black has stepped down as CEO four months ahead of schedule and will no longer serve as the firm’s chairman.
Tesla, AstraZeneca and Kansas City Southern Rise Premarket
By Reuters – Mar 22, 2021
WASHINGTON (Reuters) – The number of U.S. air passengers screened topped 1.5 million Sunday for the first time since March 2020, as air travel continues to rebound from a…
By Investing.com – Mar 22, 2021
By Dhirendra Tripathi
Investing.com – AstraZeneca (NASDAQ:AZN) shares were up 2% in Monday’s premarket trading after data from a large trial in the U.S. and elsewhere showed its…
By Reuters – Mar 22, 2021
(Reuters) – Apollo Global Management (NYSE:APO) Inc on Monday appointed Jay Clayton, former U.S. Securities and Exchange Commission chief, as non-executive chairman after Founder…
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