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BREAKING NEWS

Discovery, AT&T Rise Premarket; Tesla Falls

Stock Markets1 hour ago (May 17, 2021 08:00AM ET)

(C) Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Monday, May 17th. Please refresh for updates.

Discovery (NASDAQ:DISCA) stock soared 13% after telecoms giant AT&T (NYSE:T), up 3.6%, announced a deal to merge its content unit WarnerMedia with the mass media factual television company. This would creating a new company separate from AT&T that could be valued at $150 billion, including debt, the Financial Times reported.

Tesla (NASDAQ:TSLA) stock fell 1.8% amid doubts over the electric car maker’s bitcoin holding, as the price of the cryptocurrency fell. Concerns over the company’s Autopilot feature also weighed after a police investigation stated a fatal car accident in California involved the driver assistant system.

JD.com (NASDAQ:JD) ADR rose 0.2% after the Chinese online retail giant’s logistics arm said it would aim to raise some $3.4 billion through an IPO in Hong Kong of a 10% stake.

Trip.com (NASDAQ:TCOM) ADR rose 2.8% after Morgan Stanley (NYSE:MS) upgraded its stance on the online travel agency to ‘overweight’ from ‘equal weight’, saying the recovery in travel from China can boost the stock by more than 30%.

United Airlines (NASDAQ:UAL) stock fell 0.7% despite the airline stating it would add more than 400 daily flights to its July schedule and increase services to re-opened European destinations.

MicroStrategy (NASDAQ:MSTR) stock fell 5.6%, suffering with the fall in bitcoin as the business analytics company holds roughly $5 billion worth of bitcoin. Coinbase, the largest U.S. cryptocurrency exchange, also fell 3.5%.

ViacomCBS (NASDAQ:VIAC) stock rose 3.1% after the media conglomerate announced that former CBS CEO Les Moonves will not get his $120 million severance package following his departure in 2018, ending a long-running dispute over the money.

Texas Roadhouse (NASDAQ:TXRH) stock rose 1.8% after Deutsche Bank (DE:DBKGn) upgraded its stance on the steakhouse chain to ‘buy’ from ‘hold’, citing the possibility that current revenue assumptions may be conservative.

Discovery, AT&T Rise Premarket; Tesla Falls

Wall St. opens lower as inflation worries persist
By Reuters – May 17, 2021

(Reuters) – Wall Street’s main indexes opened lower on Monday after a sharp recovery late last week, as signs of inflationary pressures building in the economy kept investors…

More COVID-19 vaccines coming to Taiwan as cases spike
By Reuters – May 17, 2021

By Ben Blanchard and Yimou Lee TAIPEI (Reuters) -Much needed COVID-19 vaccines should be coming to Taiwan soon, the GAVI Vaccine Alliance said on Monday, as the chip-producing…

Emirates could swap Boeing 777X jets for smaller Dreamliners, chairman says
By Reuters – May 17, 2021

DUBAI (Reuters) -Emirates could swap some of its order for 126 Boeing (NYSE:BA) 777X jets for smaller 787 Dreamliners as part of a sweeping review of its future fleet…

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