Boeing, Tesla and Johnson & Johnson Fall Premarket

Stocks in focus in premarket trade on Monday, June 28th. Please refresh for updates.

Johnson & Johnson (NYSE:JNJ) stock fell 0.1% after the drugmaker agreed over the weekend to settle claims with New York state that it fueled the opioid crisis, paying $230 million. This means it won’t be part of a slew of litigations that allege a link between use of opioids and nearly 500,000 deaths in the last two decades.

Tesla (NASDAQ:TSLA) stock fell 0.1% after the company announced plans to virtually ‘recall’ nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving.

Boeing (NYSE:BA) stock fell 1.1% after the U.S. Federal Aviation Administration told the planemaker that its planned 777X is not yet ready for a significant certification step and warned it “realistically” will not certify the airplane until mid- to late-2023.

NRG Energy (NYSE:NRG) stock rose 2.6% after Goldman Sachs (NYSE:GS) upgraded its recommendation on the energy player to ‘conviction buy’ from ‘buy’, saying the stock’s recent underperformance in the wake of the recent extreme Texas weather makes it attractive, seeing nearly 50% upside.

Intellia Therapeutics (NASDAQ:NTLA) stock rose 57% after the company announced positive results from a study of a gene-editing treatment.

Baidu (NASDAQ:BIDU) stock rose 0.9% after the Chinese tech giant announced the appointment of Frank Wu, formerly with Cadillac, to lead the design studio at its smart electric vehicle venture, Jidu Auto.

Perion Network (NASDAQ:PERI) stock rose 11% after the advertising technology company reported strong second-quarter earnings and updated its full-year forecast.

GameStop (NYSE:GME) stock fell 0.2% while AMC Entertainment (NYSE:AMC) stock rose 2.5% after the two meme stocks were linked to the rebalancing of the Russell indices. GameStop, a troubled video games retailer, has moved to the Russell 1000 index while AMC, a cinema chain operator, stayed in the Russell 2000 benchmark. The changes in indices are effective today.

Biogen (NASDAQ:BIIB) stock fell 0.9% after U.S. lawmakers announced an inquiry into the process that approved its Alzheimer’s treatment as well as its pricing.