Stocks - Apple, Boeing Slip in Premarket; Gilead Sciences, Tesla, Amazon Rise

Investing.com - Stocks in focus in premarket trade Monday:

• Apple (NASDAQ:AAPL) slipped 0.17% by 7:53 AM ET (12:53 GMT) after Citi cut its price target by $40 to $200, explaining that “trade wars are bad for tech stocks”, according to CNBC. Citi’s decision came after similar moves last week by other brokers such as Morgan Stanley (NYSE:MS), Rosenblatt and HSBC.

• Tesla (NASDAQ:TSLA) stock rose 1.23% as chief executive Elon Musk told "60 Minutes" in an interview that the company would consider buying the factories that General Motors (NYSE:GM) plans to idle.

• Boeing (NYSE:BA) stock dipped 0.22% even after the company announced the launch of its BBJ 777X, a new model that can fly more than half way around the world without stopping, farther than any business jet ever built.

• Gilead Sciences (NASDAQ:GILD) stock rose 1.83% as the company hired Roche Pharmaceuticals’ chief executive Daniel O’Day to lead become its new chairman and CEO.

• Amazon.com (NASDAQ:AMZN) stock edged forward 0.05% despite confirmation from Austria’s competition authority that it had received a complaint from the country’s retailers over the company’s double role as both a retailer and marketplace where other retailers’ products are sold.

• Alibaba (NYSE:BABA) stock lost 0.35% as the company announced that it will increase its stake in Alibaba Pictures to 51%.

• Bunge (NYSE:BG) stock gained 2.07% as the company announced that its chief executive officer Soren Schroder will step down, continuing his role until a successor is named.

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