GE, Xilinx and GenMark Diagnostics Rise Premarket

Stocks in focus in premarket trade on Friday, October 9th. Please refresh for updates.

Xilinx (NASDAQ:XLNX) stock soared 16% after the Wall Street Journal reported that Advanced Micro Devices (NASDAQ:AMD) is in advanced talks to buy the rival chip maker in a deal that could be worth more than $30 billion. AMD stock was down 1.6%.

GenMark (NASDAQ:GNMK) stock rose 13% after the Food and Drug Administration granted emergency authorization for its rapid molecular test that can distinguish between more than 20 different viruses and bacteria, including the coronavirus.

General Electric (NYSE:GE) stock climbed 4.1% after Goldman Sachs (NYSE:GS) resumed its investment coverage with a “buy” rating, saying CEO Larry Culp has made changes, resulting in a “leaner, structurally more productive” company during his two years on the job.

Boeing (NYSE:BA) stock rose 0.9% after Ryanair said it expects the airplane manufacturer’s troubled 737 MAX aircraft to return to service in the United States in the next month or so. The Federal Aviation Administration on Tuesday issued a draft report on revised training procedures for the 737 MAX, a milestone to return the plane to service.

AT&T (NYSE:T) stock rose 0.1% after the WSJ reported that WarnerMedia, owned by AT&T, is planning to cut thousands of jobs in a restructuring, as part of its plan to reduce costs by as much as 20%.

Wells Fargo (NYSE:WFC) stock rose 0.7% after the banking giant said its diversity initiatives comply with federal employment laws. It had received a letter from the U.S. Labor Department questioning whether the steps were unlawful or discriminatory.

NXP Semiconductors (NASDAQ:NXPI) stock rose 6.1% after the chipmaker reported stronger-than-expected preliminary third-quarter revenue and profit numbers, saying market conditions have improved faster than it anticipated.

Walt Disney (NYSE:DIS) stock rose 0.4% after it was announced that Pixar’s latest animated family film ‘Soul’ will skip theaters and debut exclusively on streaming service Disney+ in time for Christmas.

Exelon (NASDAQ:EXC) stock rose 2.8% after activist investor Keith Meister suggested a stake in the energy company could offer “significant” upside potential as it “would be worth a lot more if it breaks up.”

Gilead (NASDAQ:GILD) stock rose 2.2% after final data from a study of its remdesivir Covid treatment showed the drug cut recovery time by five days compared with patients who received a placebo.