By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, July 28th. Please refresh for updates.
Pfizer (NYSE:PFE) stock rose 2.8% after the pharmaceutical company raised its guidance for the full year, after its revenue and profit fell by less than expected in the second quarter. Pfizer and Biontech (NASDAQ:BNTX), up 3.4%, had said late Monday that they have started a late-stage clinical trial for one of their Covid-19 vaccine candidates, involving 30,000 people around the world.
3M (NYSE:MMM) stock fell 2.8% after the industrial giant reported a 12% drop in quarterly revenue, as results were "significantly impacted" by the Covid-19 pandemic.
Raytheon (NYSE:RTN) Technologies (NYSE:RTX) stock rose 3% after the company reported better than expected second-quarter numbers, helped by a "good performance" in its defense business.
McDonald’s (NYSE:MCD) stock fell 4.3% after the fast food giant disappointed with its second-quarter results, as a sharp drop in its overseas sales weighed on earnings.
Harley-Davidson (NYSE:HOG) stock fell 4.9% after it unexpectedly swung to a loss in the second quarter as coronavirus shutdowns hit motorcycle sales.
Tesla (NASDAQ:TSLA) stock fell 2.3%, handing back some of Monday’s 8.7% gain, after Bernstein downgraded the stock to ‘underperform’, saying “we find it difficult to justify Tesla's current valuation even under our most bullish/imaginative scenario.”
S&P Global (NYSE:SPGI) stock rose 0.4% after its revenue grew 14% in the second quarter, as the pandemic led to a surge of corporate bond issuance.
DR Horton (NYSE:DHI) stock rose 3.1% after the home construction company reported a 33% rise in fiscal third-quarter profit, despite uncertainty due to the pandemic.
Eastman Kodak (NYSE:KODK) soared 203% after the one-time photography leader announced it had received a $765 million government loan to help expedite domestic production of some drugs.