By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, June 18th. Please refresh for updates.
Adobe (NASDAQ:ADBE) stock rose 2.8% after the software giant easily beat second-quarter targets, benefiting from customers moving towards a digital lifestyle by offering more mobile-based applications.
Fox Corp (NASDAQ:FOX) stock rose 1% after the entertainment announced plans to add $2 billion to its stock repurchase plan, bringing the total amount authorised to $4 billion.
Smith & Wesson (NASDAQ:SWBI) stock rose 4.5% after the gun manufacturer reported strong quarterly results, a new share buyback program and a higher dividend.
Lennar (NYSE:LEN) stock rose 1.4% after Goldman Sachs (NYSE:GS) upgraded its recommendation on the real estate company to ‘overweight’ from ‘neutral’, seeing nearly 50% upside in a hot housing market.
Athira Pharma (NASDAQ:ATHA) stock slumped 39% after the company placed its Chief Executive Officer Leen Kawas on temporary leave as it completes a review “stemming from doctoral research Dr. Kawas conducted while at Washington State University.”
Delta Air Lines (NYSE:DAL) stock rose 0.2% and Alaska Air (NYSE:ALK) stock rose 0.2% after Wolfe Research upgraded both airlines to ‘outperform’ from ‘underperform’ and ‘peer perform’ respectively, stating that the companies managed through the pandemic without needing to raise significant amounts of cash
Codexis (NASDAQ:CDXS) stock rose 3.1% after the enzyme engineering company announced a $13.9 million order from a global pharmaceutical company, lifting its guidance for FY 2021.
Orphazyme (NASDAQ:ORPH) stock slumped over 50% after the Food and Drug Administration rejected its experimental treatment for a rare genetic disorder known.
Biogen (NASDAQ:BIIB) stock rose 1.6% after Piper Sandler upgraded its investment stance to ‘overweight’ from ‘neutral’, citing the likely success of its newly approved Alzheimer’s drug Aduhelm.