Stocks in focus in premarket trade on Tuesday, April 6th 2021
- Credit Suisse (SIX:CSGN) ADRs rose 0.2%, rebounding after last week’s sharp losses, with the Swiss banking giant culling its senior management, suspending its share buyback program and cutting its dividend in the wake of twin fiascos that have cost it billions of dollars.
- Mudrick Capital (NASDAQ:MUDS) stock rose 20% following news that this SPAC will be used to take Topps public, valuing the chewing gum and collectible cards company at $1.3 billion.
- Snap (NYSE:SNAP) stock rose 2.6% after Atlantic Equities upgraded its investment rating on the photo-messaging app to ‘overweight’ from ‘neutral’, citing valuation.
- BP (NYSE:BP) ADR rose 3% after the oil giant said it will achieve its $35 billion net-debt target about a year earlier than expected, meaning the company can resume its share buyback program while returning at least 60% of surplus cash flow to shareholders.
- Illumina (NASDAQ:ILMN) stock rose 9.2% after the life sciences company issued strong guidance for the current quarter and the full year guidance, driven by record orders in its gene-sequencing and related businesses.
- GameStop (NYSE:GME) stock fell 0.5%, continuing the recent volatile trading in this meme stock after it announced plans to issue up to 3.5 million shares.
- Cara Therapeutic (NASDAQ:CARA) stock soared 12% on news that the biopharmaceutical company’s stock will be added to the S&P SmallCap 600 index, effective on Wednesday.
- Norwegian Cruise Line (NYSE:NCLH) stock rose 1.8% with the cruise operator seeking the approval of federal health authorities to let it sail from U.S. ports starting July 4, citing its vaccination requirement for passengers and crew.
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