Stocks – Pfizer, Tesla Rise Premarket; McDonald’s Falls

Stock Market

By Peter Nurse — Stocks in focus in premarket trade on Thursday, July 2nd. Please refresh for updates.

  • Pfizer (NYSE:) stock rose 2.6%, extending gains on Wednesday’s news that the pharma giant’s Covid-19 vaccine candidate (in collaboration with Germany’s BioNTech) has yielded positive results in a clinical trial. 

  • McDonald’s (NYSE:) stock fell 0.4% after the fast-food giant paused the reopening of its dine-in service in the U.S. as coronavirus cases continue to spread across states, according to an internal memo seen by the Wall Street Journal.

  • Tesla (NASDAQ:) stock rose 8.3%, continuing the electric maker’s impressive gains. Tesla became the world’s most valuable car manufacturer Wednesday, overtaking the market capitalization of Toyota, with its stock hitting a record high. 

  • American Airlines (NASDAQ:) stock rose 2.7% after the airline said it’s considering staff cuts; American reckons it’s overstaffed by about 8,000 flight attendants and may reduce its workforce through early retirements and voluntary leaves.

  • JetBlue Airways (NASDAQ:) stock rose 3.2% after the airline came to an agreement with the labor union that represents its pilots that avoids involuntary furloughs through April of next year.

  • Inovio Pharmaceuticals  (NASDAQ:) stock rose 3.9%, rebounding after dropping over 26% Wednesday after data from its coronavirus vaccine program fell short of expectations.
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