By Geoffrey Smith
- Stocks in focus in premarket trade on Tuesday, June 16th. Please refresh for updates.
- Caterpillar (NYSE:CAT) stock was up 7.3% and General Electric (NYSE:GE) stock rose 6.1% after strong retail sales data restored confidence in the ability of beaten-down cyclical stocks to outperform.
- Eli Lilly (NYSE:LLY) stock rose 9.1% after the drugmaker said its breast-cancer drug Verzenio decreased recurrence and death in certain patients when prescribed in combination with standard adjuvant endocrine therapy.
- The findings broaden the potential for use of Verzenio, which first received authorization from the FDA in 2017.
- Apple (NASDAQ:AAPL) stock was up 2.4%, as the broader market move outweighed concerns about two new antitrust probes that the company faces in Europe.
- EU antitrust authorities are investigating whether Apple used its App Store and its Apple Pay service to abuse a dominant market position.
- McDonald’s (NYSE:MCD) stock was up 1.7% after a company update on sales as it reopens its restaurants around the world.
- Same-store sales so far in the second quarter were down only 12% in the U.S., but were still down by as much as 53% overseas. Some 95% of its restaurants globally are open for business.
- New York Mortgage Trust (NASDAQ:NYMT) stock was up 14.7% after the company said on Monday it will resume dividend payments.
- Hertz Global (NYSE:HTZ) stock was up 13.8% after its eye-catching $500 million stock sale filing on Monday. The prospectus warned in five separate places that the stock could be worthless, given the state of its chapter 11 bankruptcy proceedings.
