By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, November 29th. Please refresh for updates.
American Airlines (NASDAQ:AAL) stock rose 1.4%, Delta Air Lines (NYSE:DAL) stock rose 1.6% and United Airlines (NASDAQ:UAL) stock climbed 1.7%, the airlines rebounding after Friday’s sharp losses in the wake of the Omicron variant news. The U.S. Transportation Security Administration screened 2.45 million airline passengers on Sunday, the highest number of daily passengers since the start of the pandemic.
Exxon Mobil (NYSE:XOM) stock rose 1.1%, Chevron (NYSE:CVX) stock climbed 1.5% and Halliburton (NYSE:HAL) stock rose 2% as crude prices jumped by around 5% in Monday’s recovery.
Moderna (NASDAQ:MRNA) stock rose 9.5% after the drugmaker’s chief medical officer said the company could roll out a reformulated vaccine to combat the omicron variant by early next year.
Tesla (NASDAQ:TSLA) stock rose 1.4% after CNBC reported that CEO Elon Musk has told employees at the electric car maker to focus on reducing costs instead of rushing to make deliveries by the end of the quarter.
Advanced Micro Devices (NASDAQ:AMD) stock rose 1.7% following a media report that Tesla has started using a new AMD chip in Model Y vehicles in China.
Merck (NYSE:MRK) stock fell 2.4% after Citigroup downgraded its investment stance on the drugmaker to ‘neutral’ from ‘buy’, saying the disappointing data for two of its important drugs means its future pipeline looks weak.
TJX Companies (NYSE:TJX) stock rose 2.6% after Citigroup upgraded its stance on the owner of TJ Maxx retail chain to ‘buy’ from ‘neutral’, expecting shoppers to shop earlier and spend more at the stores.
MGM Resorts (NYSE:MGM) stock fell 0.3% and Wynn Resorts (NASDAQ:WYNN) stock fell 1.8% in the wake of losses in the Macau units after a number of arrests over alleged links to cross-border gambling and money laundering.
United Parcel Service (NYSE:UPS) stock fell 0.3% after Deutsche Bank downgraded its stance to ‘hold’ from ‘buy’, saying the delivery company has outperformed the S&P 500 since the start of the pandemic but investors should start looking elsewhere.