Top Stocks to Watch: Automakers, Adobe, Alibaba, and More

2023-06-20 13:06:00
(Updated with Baidu, Rivian Automotive, Palantir) PARIS, June 20 (Archyde.com) – Top stocks to watch on Tuesday on Wall Street, where futures on major indices suggest an open down around 0.3%: * Automakers are down in forefront trading after reports from Archyde.com that a bipartisan group of U.S. lawmakers will beg at a Tuesday meeting the heads of FORD FN and GENERAL MOTORS GM.N to cut their reliance on Chinese parts, especially electric car batteries. GM, Ford, TESLA TSLA.O lost about 1% in the forefront. * ADOBE ADBE.O was down 1.3% in pre-market trading after reports from the Financial Times that the European competition regulator will launch an investigation into the proposed $20 billion (18.29 billion) takeover this year. euros) of the Figma platform. * ALIBABA BABA.N, 9988.HK announced on Tuesday that its CEO Daniel Zhang will step down to focus on the company’s cloud division, as the Chinese e-commerce giant pursues its planned spin-off in six business units. * KKR KKR.N has signed an exclusive multi-year agreement with PAYPAL PYPL.O for its “Buy Now, Pay Later” split payment method in Europe. * ELI LILLY LLY.N to acquire DICE THERAPEUTICS DICE.O, which specializes in the treatment of autoimmune diseases, in a $2.4 billion (€2.2 billion) all-cash transaction, announced the two companies. * VF CORP VFC.N – The owner of The North Face and Vans brands has named former Logitech LOGN.S boss Bracken Darrell as chief executive effective July 17. * NASDAQ NDAQ.O said it had reached an agreement with operator EEX, the European energy sector exchange, to transfer its electricity trading and clearing activities in Europe to it, without giving financial details. * FARADAY FUTURE INTELLIGENT ELECTRIC FFIE.O – The electric vehicle maker has announced a stock split, in a 1 for 2 to 1 for 90 shares range, to meet Nasdaq listing requirements. The group has also announced that it is behind on the delivery of its vehicles. The action fell 37.6% in pre-market. * NISOURCE NI.N announced the sale to BLACKSTONE BX.N of a minority stake in NIPSCO, its electricity and gas distribution business in Indiana, for 2.15 billion dollars (1.97 billion euros). euros). * CARLYLE CG.O has announced the appointment of John Redett as Chief Financial Officer effective October 1. * NIKE NKE.N was down 2% in trade before the open in reaction to the release of a note from Morgan Stanley, which warned that the drop in demand seen in Europe and North America could lead to a glut of inventory and therefore put pressure on the results of the sports equipment supplier in the fourth quarter. * RIVIAN AUTOMOTIVE RIVN.O gains 3.2% in pre-market trading, the group having announced that it has adopted the electric vehicle charging standard implemented by Tesla, which gives access to Tesla charging stations to Rivian customers. * PHILIP MORRIS PM.N – Citigroup raises its recommendation from ‘neutral’ to ‘buy’. The group gained 1.2% in pre-market trading. * BAIDU BIDU.O – Morgan Stanley raises its recommendation from “neutral” to “overweight”. * PALANTIR TECHNOLOGIES PLTR.N – Raymond James lowers its recommendation from “outperform” to “buy”. (Written by Corentin Chapron, edited by Laetitia Volga and Blandine Hénault)
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