Stock market

Micron, Guess Rise Premarket; J&J Falls

Stock Markets (Apr 01, 2021 07:59AM ET) Micron, Guess Rise Premarket; J&J Falls© Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Thursday, April 1st. Please refresh for updates.

  • Johnson & Johnson (NYSE:JNJ) stock fell 1.1% after the drugmaker confirmed that a batch of its Covid-19 vaccine did not meet quality control standards, due to a key ingredient made by partner Emergent Biosolutions (NYSE:EBS). Its stock fell 7.3%. 
  • Micron (NASDAQ:MU) stock rose 4.4% after the chip maker forecast strong fiscal third-quarter revenue growth due to a rise in demand for memory chips. The Wall Street Journal also reported that Micron and Western Digital (NASDAQ:WDC), up 4%, were looking at a deal to buy Japanese chip maker Kioxia.  
  • Taiwan Semiconductor Manufacturing (NYSE:TSM) stock rose 2.5% after the world’s largest contract chip manufacturer announced plans to invest $100 billion over the next three to increase capacity at its chipmaking plants.
  • Pfizer (NYSE:PFE) stock rose 0.3% after the drugmaker announced that new data showed its Covid vaccine, made with partner BioNTech, had 91% efficacy after six months, key to getting approval for general use and not just for emergency usage.  
  • Wingstop (NASDAQ:WING) stock rose 7.7% after the restaurant company posted strong first quarter sales, with same-store sales jumping more than 20% on the year. In particular, digital sales soared more than 60% as customers ordered their chicken wings from home.
  • Guess (NYSE:GES) stock rose 6.8% after the clothing retailer posted a fourth-quarter profit that beat expectations even as the pandemic-related lockdowns resulted in a 23% drop in revenue. The company declined to give guidance due to continued uncertainty.
  • Quantumscape (NYSE:QS) stock soared over 15% after the company, which produces solid-state lithium batteries, announced it has met the requirements for a second $100 million investment by German car giant Volkswagen (DE:VOWG_p). 
  • Exxon (NYSE:XOM) stock rose 0.5% after the oil giant signaled it could post its first profit in five quarters, helped by higher oil and gas prices, even including the hit from February’s deep freeze.
  • Boeing (NYSE:BA) stock rose 0.4% after the Federal Aviation Administration approved the design for the airplane manufacturer’s 737-8200, part of the 737 MAX series, a necessary step before it can begin delivering the airplanes to airlines.
  • Uber (NYSE:UBER) stock rose 1.7% after Jefferies (NYSE:JEF) initiated coverage of the ride hailing company with a ‘buy’ rating, calling the company one of its top reopening plays.
  • CarMax (NYSE:KMX) stock fell 3.3% after the auto retailer announced it would acquire the remaining part of auto information provider Edmunds that it didn’t already own, in a cash-and-stock deal valuing it at $404 million.

Micron, Guess Rise Premarket; J&J Falls 

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