Stocks - J&J Tumbles Premarket; American Outdoor Brands, Exxon Mobil Rise
Stocks in focus in premarket trading on Wednesday:
•Boeing (NYSE:BA) stock inched up 0.5% in premarket trade by 8:20 AM ET (12:20 GMT) even after American Airlines (NASDAQ:AAL) pulled Boeing’s 737 Max from its schedule until mid-January, hinting at yet another delay to the resumption of flights by the model. American Airlines was up 1.7%.
• Johnson&Johnson (NYSE:JNJ) stock tumbled 2.1% after a court ordered the company to pay a Maryland a man $8 billion because its antipsychotic drug Risperdal caused him to grow enlarged breasts.
• PayPal (NASDAQ:PYPL) stock slipped 0.3% after it said in a filing that it expects a $177 million loss on strategic investments in the third quarter.
• American Outdoor Brands (NASDAQ:AOBC) stock surged 7.3% after Craig-Hallum upgraded the company to buy from hold.
• Exxon Mobil (NYSE:XOM) stock gained 0.9% on news that it is considering a sale of its Malaysian upstream assets, Bloomberg reported.
• Levi Strauss (NYSE:LEVI) stock lost 0.1% as strong third-quarter earnings were soured partly by struggles with wholesale business in North and South America.