AstraZeneca, Tesla, Nike – Wednesday’s Premarket Movers
Stock futures were slightly higher Wednesday after House Democrats and President Donald Trump pushed for stimulus payments to be raised to $ 2,000 for most Americans, which stalled in the Republican-led Senate.
Here are some of the top movers during Wednesday premarket trading.
1. AstraZeneca AZN | Plus 1.9%
AstraZeneca American depository receipts (AZN) – Get the report Rose Premarket on Wednesday after its coronavirus vaccine, developed at Oxford University, was approved by the UK medical regulator for emergency use.
“We have enough of this vaccine to vaccinate the entire population,” British Health Secretary Matt Hancock told the BBC. “Enough people will be protected by spring so that we can end the pandemic.” ” he said.
2. Intel INTC | Decrease of 0.6%
Intel stocks (INTC) – Get the report On Wednesday, trading fell ahead of the IPO after hedge fund Third Point urged the chipmaker to consider strategic alternatives, including a possible separation of its engineering and manufacturing operations.
“We suggest that the board hire a reputable investment advisor to evaluate strategic alternatives, including whether or not Intel should remain an integrated device maker and whether certain failed acquisitions may be sold,” a report in the Wall Street Journal said below Citing the third point.
3. JD.com JD | Plus 1.6%
American depository receipts from JD.com (JD) – Get the report Bloomberg reported that the pre-market rose on Wednesday after the Chinese e-commerce giant’s board approved plans to examine the feasibility and terms of a spin-off of its cloud and AI business.
4. Tesla TSLA | Plus 1.2%
Tesla shares (TSLA) – Get the report rose after Wedbush analyst Daniel Ives said the electric car maker is expected to beat fourth-quarter delivery estimates and sell up to 200,000 cars, compared to its previously estimated 180,000.
The automaker would then have sold 500,000 cars by 2020, said Ives.
“Based on our initial analysis of demand and global delivery history for Tesla in [the fourth quarter]It seems Musk & Co. is likely to easily outperform [Wall Street] and internal expectations, “Ives wrote in a note.
“Looking towards the end of the year and 2021, we see a strong impact on the global demand for EVs. We expect EVs to increase from 3% of total car sales to 10% by 2025,” he said.
“We believe that this demand momentum will benefit the clear leader in electric vehicles, Tesla, disproportionately in the next few years, especially in the key region of China, which we believe could account for 40% of its electric vehicle deliveries by 2022 given the current brisk sales pace . ” Ives added.
According to Ives, Tesla could achieve one million delivery units worldwide by 2022 if the sales targets for China are met.
5. Nike OF | Plus 0.3%
Shares in sports retailer Nike (OF) – Get the report rose after Guggenheim analyst Robert Drbul named Nike his best stock for 2021 as the introduction of vaccines raised hopes of a reopening.
Drbul repeated a buy rating for the stock with a price target of $ 165.
The analyst sees an improved outlook for apparel in 2021 amid “optimism about a vaccine and a return to an element of normalization”. There is “pent-up demand for clothing,” wrote Drbul in a research report.
Nike should benefit from “cheap secular tailwinds” and its market share should “grow significantly from here” if its digital offering continues to grow, the analyst says.