Tesla, Credit Suisse Fall Premarket; Wells Fargo, Viasat, Box Rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, October 3rd. Please refresh for updates.
Alphabet (NASDAQ: GOOGL) 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: CS) stock fell 5.6% after reassurances 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: TSLA) stock fell 4.8% after the electric car manufacturer announced lower-than-expected deliveries in the third quarter, citing logistical challenges.
Wells Fargo (NYSE: WFC) 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: VSAT) stock rose 12.1% after the Wall Street Journal reported that defense contractor L3Harris Technologies (NYSE: LHX), down 1.4%, is close to a deal to buy a military communications business from the satellite specialist.
Box (NYSE: BOX) 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: MYOV) 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.