Tesla, Credit Suisse Fall Premarket; Wells Fargo, Viasat, Box Rise


Tesla, Credit Suisse Fall Premarket; Wells Fargo, Viasat, Box Rise © Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Monday, October 3rd. Please refresh for updates.

  • Alphabet (NASDAQ:) stock rose 0.4% after the tech giant shut its Google Translate service in Mainland China, closing one of its few remaining consumer products in the second largest economy in the world.

  • Credit Suisse (NYSE:) stock fell 5.6% after from the bank’s senior management over the weekend failed to calm fears about its stability as the cost of insuring its debt against default exploded.

  • Tesla (NASDAQ:) stock fell 4.8% after the electric car manufacturer announced lower-than-expected deliveries in the third quarter, citing logistical challenges.

  • Wells Fargo (NYSE:) stock rose 1.2% after Goldman Sachs upgraded its stance on the banking giant to ‘buy’ from ‘neutral’, saying its offer an “underappreciated earnings growth story.”

  • Viasat (NASDAQ:) stock rose 12.1% after the Wall Street Journal reported that defense contractor L3Harris Technologies (NYSE:), down 1.4%, is close to a deal to buy a military communications business from the satellite specialist.

  • Box (NYSE:) stock rose 4.1% after Morgan Stanley upgraded its stance on the cloud-based content management provider to ‘overweight’ from ‘equal weight’, saying it can surge nearly 40%.

  • Myovant Sciences (NYSE:) stock soared 33% after the biopharmaceutical company rejected a bid by its largest shareholder, Sumitovant Biopharma, to buy the shares it doesn’t already own, saying the offer significantly undervalues the company.

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