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Facebook, Wells Fargo Fall Premarket; Ford, Chevron Rise

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Stock Markets1 hour ago (Sep 28, 2021 08:10AM ET)

(C) Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Tuesday, September 28th. Please refresh for updates.

Facebook (NASDAQ:FB) stock fell 1.6%, Apple (NASDAQ:AAPL) stock fell 1.7% and Amazon (NASDAQ:AMZN) stock dropped 1.6%, all sensitive to the outlook for interest rates, and all vulnerable to profit-taking after more than doubling since the depths of the pandemic 18 months ago.

Wells Fargo (NYSE:WFC) stock fell 0.7% after Morgan Stanley (NYSE:MS) downgraded its stance on Wells Fargo, the top performing large-cap banking stock in the second quarter in 2021, to ‘equal-weight’ from ‘overweight’, citing regulatory issues.

Mastercard (NYSE:MA) stock fell 0.8% following the decision of the credit card giant to enter the competitive “buy now, pay later” market, announcing a new program called “Mastercard Installments” for U.S., Australian and U.K. markets.

Ford (NYSE:F) stock rose 3.7% following the car giant’s announcement of ambitious plans to be a serious player in the electric vehicle market, setting up four factories — three to manufacture batteries and one to make F-series pickups.

Chevron (NYSE:CVX) stock rose 1.1%, Exxon Mobil (NYSE:XOM) stock rose 1.1%, Occidental Petroleum (NYSE:OXY) stock rose 1.9%, Devon Energy (NYSE:DVN) stock climbed 2.4% and Diamondback (NASDAQ:FANG) stock rose 2.2%, receiving a boost from rising prices for oil and gas prices.

Acceleron Pharma (NASDAQ:XLRN) stock rose 2.9% after the Wall Street Journal reported that Merck was in advanced talks to buy the company, bolstering the pharmaceutical giant’s rare-disease business.

Scientific Games (NASDAQ:SGMS) stock rose 4% after Endeavor Group agreed to buy an online sports-betting business from the game developer for $1.2 billion in cash and stock.

Huntsman (NYSE:HUN) stock rose 4.8% after hedge fund Starboard Value took an 8.4% stake in the chemical maker, calling the shares undervalued.

Facebook, Wells Fargo Fall Premarket; Ford, Chevron Rise

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