Stock futures were trading lower Monday as recession fears remained at the forefront of investors’ minds as a new trading month begins.
These are some of the stocks making notable moves in the premarket session Monday.
Alibaba (ticker: BABA) gained 1.7% as investor sentiment improved after the Chinese tech giant released a statement in response to the possibility of being delisted by the Securities and Exchange Commission. The company said that it will “strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange.”
Shares of Boeing (BA) rose 5.2% after regulators approved the plane maker’s plan for validating repairs to the 787 Dreamliner, and the company temporarily avoided a strike at three plants that make military gear.
Chinese electric-vehicle makers reported deliveries for July on Monday that, when combined, were down from June’s record. The stocks, however, were trading higher. NIO ( NIO ) stock was 3.5% higher, XPeng (XPE) gained 2.9% and Li Auto was up 3.5%.
Oil stocks were lower on Monday on news that the Democrats’ climate change measure could cost oil companies, by some estimates, as much as $25 billion. Exxon Mobil (XOM) was down 0.8%, Chevron (CVX) lost 0.4% and Shell (SHEL) was 0.2% lower.
Global Payments (GPN) climbed 3% after the payment technology company announced plans to acquire EVO Payments (EVOP) for $34 a share in cash. EVO soared 19%. Global Payments also reported adjusted earnings for its second quarter that beat Wall Street estimates.
Valvoline (VVV) stock was 2.4% higher Monday after the company announced that it had reached a definitive agreement to sell its global products business to Aramco for $2.65 billion in cash.
Retailer Target (TGT) was 2% higher after an analyst at Wells Fargo upgraded the rating of the stock to Overweight from Equal Weight.
Clothing retailer American Eagle Outfitters (AEO) was down 1.3% after an analyst at Cowen downgraded the stock to Perform from Outperform.
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