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Pfizer, Novavax Rise Premarket; Tesla, Estee Lauder Fall

Pfizer, Novavax Rise Premarket; Tesla, Estee Lauder Fall
© Reuters.

By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Tuesday, November 2nd. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock fell 4.4% after the National Highway Traffic Safety Administration said the electric car maker is recalling nearly 12,000 U.S. vehicles because of a software communication error. CEO Elon Musk also tweeted that the company’s ground-breaking bulk order from car rental firm Hertz Global  (OTC:HTZZ) hasn’t been finalized yet.

Pfizer (NYSE:PFE) stock rose 3.1% after the drugmaker raised its full-year sales forecast for its Covid-19 vaccine by 7.5% to $36 billion, helped by deals for booster doses and potential shots in children. The ADRs of its partner BioNTech (NASDAQ:BNTX) rose 2.1%. 

Novavax (NASDAQ:NVAX) stock rose 4.1% after the drugmaker secured emergency use approval for its Covid-19 vaccine in Indonesia, its first in any country. The company also said it expects to file a full submission for authorization to the U.S. Food and Drug Administration within in a few weeks.

Rogers (NYSE:ROG) stock rose over 30% after industrial materials maker DuPont de Nemours (NYSE:DD), up 0.4%, said it would buy the engineering materials technology maker for about $5.2 billion. 

Estee Lauder (NYSE:EL) stock fell 2% after the perfume and makeup manufacturer cut its full-year sales forecast, as the delta variant of Covid-19 ushered in fresh lockdowns in certain markets, particularly China. 

Under Armour (NYSE:UA) stock soared 9.2% after the sports apparel maker raised its annual revenue forecast, with consumers still seeking comfortable attire as companies push back their dates for mass returns to the office.

Chegg (NYSE:CHGG) stock slumped over 30% after the education technology company disappointed with its third-quarter report, prompting Morgan Stanley (NYSE:MS) to downgrade its investment stance to ‘equal-weight’ from ‘overweight’.

Clorox (NYSE:CLX) stock rose 2.2% after the bleach maker posted upbeat first-quarter results, with consumers still fixated on cleanliness in the wake of the pandemic.

Avis Budget (NASDAQ:CAR) stock rose 6.3% after the car rental company reported a strong third quarter, as well as announcing a $1 billion increase to its share repurchase program.

Simon Property Group (NYSE:SPG) stock rose 3.9% as the mall operator raised its 2021 profit forecast after soundly beating earnings expectations. It also lifted its quarterly dividend.

 

Source: Investing.com

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