By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, April 13th. Please refresh for updates.
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Johnson & Johnson (NYSE:JNJ) stock fell 2.3% after U.S. medical authorities called for a pause in the use of the drugmaker’s Covid-19 vaccine over blood clotting issues.
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Altimeter Growth Corp (NASDAQ:AGC) stock rose 5.1% with the SPAC set to take Singapore-based Grab Holdings public in the U.S. The deal has been valued at almost $40 billion, the largest ever deal involving a SPAC.
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Moderna (NASDAQ:MRNA) stock rose 7.7%, benefiting from J&J’s woes, which give it a chance to grab share in the key U.S. market. The drugmaker’s Covid-19 vaccine was rolled out for use in England earlier Tuesday.
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FedEx (NYSE:FDX) stock rose 1% after the investment bank KeyBanc Capital Markets upgraded its stance on the delivery giant to ‘overweight’ from ‘sector weight’, saying it can still grow numbers even as the market reopens.
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Alibaba (NYSE:BABA) ADR fell 0.9% after regulators in China ordered the e-commerce giant’s financial technology affiliate Ant Group to revamp its business.
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American Airlines (NASDAQ:AAL) stock fell 3.4%, United Airlines (NASDAQ:UAL) stock dropped 3.1%, Royal Caribbean (NYSE:RCL) stock fell 2.9% and Carnival (NYSE:CCL) (NYSE:CUK) stock fell 2.8% as the J&J vaccine news hits stocks associated with the reopening, including the airlines and cruise companies.
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Bristol-Myers Squibb (NYSE:BMY) stock rose 0.7% after Truist Securities upgraded its stance on the pharmaceutical company to ‘buy’ from ‘hold’, citing the company’s strong drug pipeline.
- Credit Suisse (SIX:CSGN) stock fell 0.9% with the Swiss banking giant likely to see changes to its board. Proxy adviser Glass Lewis urged the bank’s shareholders to oppose Andreas Gottschling's re-election, on grounds that as risk committee chairman he should be held accountable for losses generated by its dealings with Greensill Bank and Archegos Capital Management.