© Reuters. By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, October 26th. Please refresh for updates.
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SAP (NYSE:) ADRs fell 21% after the German software giant warned that it would take longer than expected to recover from the impact of the coronavirus pandemic, abandoning its medium-term profitability targets.
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Salesforce.com (NYSE:) stock dropped 2.2% and Oracle (NYSE:) stock fell 3.1%, as a read across from SAP, with these two companies trading in the same sector.
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Dunkin Brands (NASDAQ:) stock soared 18% after the New York Times reported that the parent company of Dunkin’ and Baskin-Robbins is in preliminary talks to be bought by private equity-backed Inspire Brands.
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Hasbro (NASDAQ:) stock dropped 3.2% despite the games manufacturer posting better-than-expected quarterly revenue and profit numbers, boosted by demand for its high-profile games amid the pandemic. Its stock is up almost 20% this month.
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Tesla (NASDAQ:) stock fell 1.6% after Chinese media reported that the electric car manufacturer will begin shipping made-in-China electric cars to Europe on Tuesday, a development interpreted by many as signalling that demand in Asia has not been sufficient to snap up the local production.
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AstraZeneca (NYSE:) ADRs rose 1% after the U.K.-based pharmaceutical giant said its potential Covid-19 vaccine, being manufactured in conjunction with University of Oxford, triggered a robust immune response in adults, especially in the elderly – the age group most at risk from the virus.
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American Airlines (NASDAQ:) stock fell 2.4%, United Airlines (NASDAQ:) stock dropped 3.1% and Delta Air Lines (NYSE:) fell 2.7% amid fears that the resurgence in coronavirus cases will lead to further drops in passenger numbers.
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Palantir (NYSE:) stock rose 2.1% after JPMorgan (NYSE:) and Jefferies (NYSE:) initiated coverage of the stock with “buy” ratings, after the company went public last month. They cited the company’s data-collecting prowess and capabilities.
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