Moderna, Tesla Gain Premarket; Lemonade Drops By

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By Peter Nurse — Stocks in focus in premarket trade on Wednesday, August 12th. Please refresh for updates.

  • Moderna (NASDAQ:) stock rose 9.8% after the U.S. government agreed a deal with the drugmaker to acquire 100 million doses of its potential coronavirus vaccine for approximately $1.5 billion.

  • Tesla (NASDAQ:) stock rose 7.2% after the electric car manufacturer announced a five-way stock split, the first in its history, making its shares more affordable to growing numbers of retail investors.

  • Qualcomm (NASDAQ:) stock rose 1.2% after a federal appeals court overturned an antitrust ruling against the chipmaker, meaning it should not be able to obtain royalties from phonemakers.

  • Lemonade (NYSE:) stock fell 5% after the insurance company posted a second-quarter net loss in its first quarterly results a little over a month after its initial public offering. 

  • Roku (NASDAQ:) stock rose 3.8% after receiving a “buy” investment rating from Deutsche Bank (DE:) and a $185 12-month target price, offering potentially around 24% upside.

  • Tencent Holdings (OTC:) stock is likely to gain after the company’s second-quarter net profit rose 37%, fueled by strong growth in its gaming business. 

  • Boeing (NYSE:) stock rose 2.1% despite losing orders for another 43 of its 737 Max jets in July. Still, this represents an improvement as the aircraft maker suffered 377 canceled orders through the first half of the year, including 60 in June.

  • Eastman Kodak (NYSE:) stock rose 6.4%, correcting upward after a steep fall triggered by the announcement of an SEC investigation into trading activity in the stock ahead of the grant of a $765 million loan from the government. CEO Jim Continenza said he agreed with the government’s suspension of the loan, saying more work needed to be done first.

  • Deere (NYSE:) stock fell 0.6% after Deutsche Bank downgraded its investment stance on the company to “hold” from “buy”, citing valuation as the main cause. The stock is up almost 18% this month.

  • Royal Caribbean (NYSE:) stock rose 3.9% after the cruise company secured a $700 million term loan facility from Morgan Stanley (NYSE:).
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