A Delta Airlines plane lands from Los Angeles at Kingsford Smith International Airport in Sydney, Australia, on October 31, 2021.
James D. Morgan | Getty Images
Check out the companies making headlines before the bell Friday:
Travel and Leisure Stocks – Airline stocks are hit hard in the premarket by news of the new Covid-19 variant, including American (AAL), United (UAL), Southwest (LUV), Delta (DAL) and JetBlue ( JBLU). Cruise stocks were also shaken: Royal Caribbean (RCL) fell 10.6%, Carnival (CCL) hit 10.5% and Norwegian (NCLH) fell 10%.
Stay-at-home stocks – Stocks that benefited from Covid-19 shutdowns rebounded, with Zoom Video (ZM) gaining 7.8% in premarket trading, DocuSign (DOCU) 3% higher, Netflix (NFLX) 2, 2% higher and Platoon (PTON ) jump 6.2%.
Vaccine stocks – These are rising following news of the Covid variant, with Moderna (MRNA) up 8.6% in the premarket, Pfizer (PFE) up 5.6%, BioNTech (BNTX) up 7.3% and Novavax ( NVAX) by 5.3%.
Merck (MRK) – The drugmaker and its partner, Ridgeback Biotherapeutics, said their experimental Covid pill reduced the risk of death and hospitalization in at-risk patients by 30%. However, that was a lower efficacy than seen in a previous study, and Merck fell 3% in premarket trading.
Didi Global (DIDI) – According to a Bloomberg report, Didi has been asked by Chinese regulators to delist from the New York Stock Exchange. The request to shut down the ride-taking company would come out of concerns about data security. Didi fell 6.3% in premarket actions.
Tesla (TSLA) – Tesla will invest $188 million to expand production capacity at its Shanghai factory, according to the state-backed Beijing Daily newspaper. Tesla fell 2.3% in the pre-market.
Micron Technology (MU) – Micron and Taiwan-based chipmaker United Microelectronics (UMC) have withdrawn intellectual property complaints against each other. The two companies gave no reason to end those cases. Micron fell 1.6% in the pre-market, while United Micro fell 2.3%.
Boeing (BA) – Boeing was told that its bid to sell fighter jets to Canada did not meet government requirements, according to a report in the Canadian Press. The report said two other competitors, Lockheed Martin (LMT) and the Swedish Saab, met those requirements and remained in the competition. Boeing lost 6.3% in premarket action.
Microsoft (MSFT) – Microsoft Chief Executive Officer Satya Nadella announced the sale of 839,000 shares in an SEC filing, making him owner of 831,000 shares following that transaction. Microsoft fell 1% in the premarket.
Pinduoduo (PDD) – The China-based e-commerce platform operator saw its premarket shares plunge 17.7% after it reported quarterly sales well below analysts’ estimates amid increasing competition from companies like Alibaba (BABA) ) and JD.com (JD).