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Stocks - Lyft, GM Rise Premarket; Slack, Mallinckrodt Tumbles

Investing.com

Investing.com - Stocks in focus in premarket trading on Thursday:

• Slack (NYSE:WORK) stock slumped 14.2% in premarket trade by 8:25 AM ET (12:25 GMT) after it forecast a slightly larger-than-expected loss per share for the fiscal third-quarter in its first earnings report since the company went public. The shares have fallen nearly 20% since the initial public offering.

• Mallinckrodt (NYSE:MNK) stock slumped 45% after Bloomberg reported late on Wednesday that the group is considering filing for bankruptcy protection as it prepares to face a wave of opioid-related lawsuits.

• Enterprise software group Cloudera (NYSE:CLDR) stock surged 12.5% after its earnings came in better than expected, helped by a record contribution from its partnership with IBM (NYSE:IBM).

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• LYFT (NASDAQ:LYFT) stock gained 3.3% after Deutsche Bank (DE:DBKGn) initiated coverage to buy, pointing to “robust” second-quarter results, CNBC reported.

• CVS Health (NYSE:CVS) stock rose 2.2% after a district judge approved a settlement with the Justice Department allowing it to complete its acquisition of insurer Aetna (NYSE:AET).

• General Motors (NYSE:GM) stock inched up 0.7% ahead of CEO Mary Barra’s meeting with President Donald Trump to discuss trade, contracts, and fuel efficiency standards. Trump criticised GM last week for its operations in China.

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