Values to follow on Wall Street (updated)
(Updated with Index Futures, Tesla, U.S. Regional Banks, Pinduoduo and Altimmune forecourts)
PARIS, March 21 (Reuters) – Top stocks to watch on Tuesday on Wall Street, where futures on major indices suggest an open up 0.89% for the Dow Jones, 0.87% for the Standard & Poor’s 500 and 0.67% for the Nasdaq:
* Major banks JPMORGAN CHASE, CITIGROUP, BANK OF AMERICA, MORGAN STANLEY and WELLS FARGO are seen up 0.8% to 2.1% ahead of the market amid easing fears about the sector and scrutiny turned towards the Fed which begins two days of monetary policy meetings.
* Regional bank FIRST REPUBLIC BANK is expected to rise 23.6% at the opening of Wall Street the day after a fall of 47% to an historic low at 12.18 dollars, following the lowering of its rating credit rating in speculative (“junk”) grade by S&P Global amid liquidity problems. Its competitors PACWEST BANCORP and WESTERN ALLIANCE BANCORP take 4.0% and 3.4% respectively.
* TESLA – The American group’s vehicle sales in China totaled 106,915 units from January 1 to March 19, or 1,371 units per day on average, according to data from China Merchants Bank International. In the fourth quarter the daily average was 1,327 units.
* REGENERON announced on Tuesday that Dupixent, its drug developed in partnership with Sanofi, has been approved in the European Union for the treatment of severe atopic dermatitis in children aged six months to five years.
* MODERNA – Stephen Hoge, the lab’s president, said on Monday that the price of the COVID-19 vaccine would be around $130 per dose in the United States as the US administration plans to shift its vaccine purchases to the private sector.
* U.S. scientific equipment maker THERMO FISHER SCIENTIFIC and South Korea’s Celltrion are among candidates interested in buying the biopharmaceutical division of medical device maker BAXTER INTERNATIONAL, source people familiar with the matter told Reuters.
* ALTIMMUNE plunges 40% in pre-market trading after a clinical trial of its obesity treatment led to a suspected case of severe nausea and vomiting requiring rehydration.
* KKR – The American investment fund announced on Tuesday the sale of its stake in X-elio to the Canadian asset management group Brookfield, which now owns all of the capital of the Spanish renewable energy company.
* NVIDIA – The group’s chief executive, Jensen Huang, is due to unveil new artificial intelligence chips and technologies on Tuesday at the company’s annual conference.
* TENCENT MUSIC ENTERTAINMENT on Tuesday reported a quarterly profit above expectations thanks to an increase in the number of its subscribers and a recovery in advertising.
* ALPHABET – Google, an Alphabet subsidiary, announced on Tuesday the suspension of the Chinese group’s e-commerce application PINDUODUO from its mobile program store after the discovery of malware. Pinduoduo shares fell 1.9% in market forefront.
* META PLATFORMS gains 2.5% ahead of the market as Morgan Stanley’s recommendation is raised from “online weighting” to “overweight”, according to thefly.com (Written by Claude Chendjou, edited by Kate Entringer )
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