By Peter Nurse
- Stocks in focus in premarket trade on Friday, July 10th. Please refresh for updates.
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United Airlines (NASDAQ:UAL) stock fell 5.4% after the airline reached agreement with a pilots union for voluntary furloughs and early retirement packages, the latest effort to slash costs. The deal comes as chances for a recovery in air travel grow more remote as cases of Covid-19 soar.
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Ford (NYSE:F) stock fell 2.6% after the carmaker said it may have to shut down production at plants in the U.S. due to a shortage of engines from Mexico.
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Starbucks (NASDAQ:SBUX) stock fell 0.8% after the Coffee giant said it will start requiring customers to wear masks in all of its American stores from July 15. The wearing of masks has become something of a political hot potato.
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MGM Resorts (NYSE:MGM) stock fell 2.5% as the surge in Covid-19 cases means investors fret about whether customers will return to the casinos in any size in the foreseeable future.
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BioNTech (NASDAQ:BNTX) stock rose 1.3% after its CEO told The Wall Street Journal that its experimental drug, in conjunction with Pfizer (NYSE:PFE), for treating Covid-19 may be available by December.
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Walt Disney (NYSE:DIS) stock fell 0.9% with the company pressing ahead with its plans to begin opening its theme parks in Florida this weekend despite surging numbers of Covid-19 cases in the state.
- Beyond Meat (NASDAQ:BYND) stock fell 2.8% after Citigroup (NYSE:C) downgraded its investment stance to “sell” from “neutral”, saying high operating costs could place the company’s margins under pressure.
