By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 15th. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock fell 2.5% after CEO Elon Musk sold more of the electric car manufacturer’s stock on Friday, bringing his total sales for the week to 6.4 million shares amounting to $6.9 billion.
Shell (LON:RDSa) ADRs rose 1.4% after the energy giant announced plans to simplify its share structure to establish a single line of shares and move its tax residence to the U.K. from the Netherlands, in an effort to streamline costs and improve shareholder returns.
Crowdstrike (NASDAQ:CRWD) stock fell 3.3% after Morgan Stanley initiated its coverage of the cybersecurity company with an ‘underweight’ rating, saying the stock is now too expensive. It has risen by over one-third so far this year and now trades at over 50 times trailing annual sales.
Dollar Tree (NASDAQ:DLTR) stock rose 6.1% after activist investor Mantle Ridge secured a stake of at least $1.8 billion in the discount retailer, seeking the company to take action to boost its share price.
Boeing (NYSE:BA) stock rose 3.2% after the aircraft manufacturer stated over the weekend that Emirates announced an order for two 777 Freighters and as Saudi Arabian Airlines was in talks with the planemaker for a wide-body jet order. Airbus (OTC:EADSY) ADRs were flat but its local stock was up 1.7% after it announced an order for 255 narrow-body A321 aircraft at the same airshow in Dubai.
WeWork (NYSE:WE) stock rose 0.2% after the office sharing firm posted a smaller third-quarter loss, as a rebound in demand for office space helped drive membership.
CyrusOne (NASDAQ:CONE) stock rose 4.3% after the U.S. data center operator said it would be bought by KKR&Co (NYSE:KKR) and Global Infrastructure Partners and turned into a private company, in a deal valued at about $15 billion, including debt.
Chevron (NYSE:CVX) stock rose 0.5% after UBS upgraded its stance on the oil major to ‘buy’ from ‘neutral’, saying the current high oil prices are set to continue.
American Tower (NYSE:AMT) stock rose 0.3% after the provider of wireless communications infrastructure agreed to buy data center operator CoreSite Realty for $7.51 billion in cash to tap into a sector that has seen a boom in demand during the Covid-19 pandemic. Tyson Foods (NYSE:TSN) stock fell 1.2% after the meat company reported a sharp drop in the sales volumes of beef, pork and chicken in the fiscal fourth quarter, with a tight labor market continuing to impede operations.
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