Stocks – Boeing, Facebook, Beyond Meat Rise Premarket; Oracle Falls
Investing.com – Stocks in focus in premarket trading on Tuesday:
• Boeing (NYSE:BA) stock surged 1.3% by 8:20 AM ET (12:20 GMT) as it landed an order of 20 new planes from Korean Air at day two of the Paris Air Show. The airline maker had failed to secure any new orders on the first day in the wake of two fatal crashes involving its 737 MAX.
• Moneygram (NASDAQ:MGI) stock surged 155% in premarket trade on news that blockchain startup Ripple invested $50 million in the money transfer company in a move that could broaden the appeal of its token, XRP.
• Facebook (NASDAQ:FB) stock gained 1.7% as it announced more details of its own cryptocurrency project, called Libra. The social media has partnered with 28 companies to create a Geneva-based entity, called the Libra Association, which will develop and govern the so-called stablecoin. The coin is expected to launch in 2020, Reuters reported.
• Beyond Meat (NASDAQ:BYND) surged another 12% to what would constitute a new all-time high for the stock, on continued enthusiasm for a new ‘ground beef’ product that is set to launch next week.
• Oracle (NYSE:ORCL) stock fell 0.5% after it was downgraded to “neutral” from “outperform” at Macquarie Research, according to CNBC.
• AT&T (NYSE:T) stock rose 0.3% as its subsidiary Warner Brothers is nearing a production deal with director J.J. Abrams, the Los Angeles Times reported.
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