Stocks making the biggest moves in the premarket: Virgin Galactic, Krispy Kreme, Apollo Global & more

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CNBC 02 July, 2021 - 07:01am 29 views

When is Bezos going into space?

The news came just hours after Bezos' Blue Origin said Bezos would be accompanied into space on July 20 by a female aerospace pioneer who's waited 60 years to rocket away. Bezos chose July 20 as his West Texas launch date — the 52nd anniversary of the Apollo 11 moon landing. Associated PressRichard Branson announces trip to space, ahead of Jeff Bezos

Virgin Galactic (SPCE) – Virgin Galactic shares soared 28.2% in the premarket after it announced that founder Richard Branson plans to be aboard a planned July 11 space flight. The flight would be 9 days before a scheduled Blue Origin flight would take its founder, Amazon's Jeff Bezos, into space.

Didi (DIDI) – The China-based ride-hailing company's shares gave up a premarket gain, following news that China's Cyberspace Administration will conduct a cybersecurity investigation into Didi's operations. It has also asked Didi to cease new user registrations while the investigation is taking place. Didi shares tumbled 5.5% in the premarket following that news.

Krispy Kreme (DNUT) – The donut chain's shares fell 5% in premarket trading, giving back a portion of the 23.5% gain registered in Thursday's first day of trading. Krispy Kreme returned to the public markets yesterday, five years after being taken private.

Apollo Global (APO) – The private-equity firm announced it would buy a stake of up to 24.9% in financial technology investor Motive Partners, with The Wall Street Journal reporting that the transaction values Motive at about $1 billion. Apollo fell 2.4% in the premarket.

Johnson & Johnson (JNJ) – J&J said its Covid-19 vaccine showed promise against the Delta variant and other emerging strains of the virus. It also said immune response among vaccine recipients lasted at least eight months.

Raytheon Technologies (RTX) – The defense contractor won a $2 billion Air Force contract to produce a nuclear-armed cruise missile. Design and manufacturing of the missile are expected to be completed in February 2027.

Verizon (VZ) – Verizon told regulators it would continue to support low-cost wireless service if it is allowed to complete its $6.9 billion deal to buy prepaid mobile phone provider Tracfone.

Tesla (TSLA) – An attorney for a Pennsylvania driver told Reuters that a Tesla Model S Plaid model burst into flame while the owner was driving, just three days after it was delivered. Tesla did not have an immediate comment.

GlaxoSmithKline (GSK) – The drugmaker responded to a letter sent by activist investor Elliott Advisors, saying it welcomes all constructive input from shareholders that supports the creation of long-term value. Elliott had disclosed a stake in Glaxo earlier this week and urged it to consider selling its consumer health care unit, among other suggestions.

PNC Financial (PNC) – The banking company received a double upgrade from Wolfe Research to "outperform" from "underperform." Wolfe feels PNC's earnings outlook is especially upbeat due to the acquisition of the U.S. unit of Spanish bank BBVA.

CureVac (CVAC) – The German drugmaker's stock slumped 4.1% in the premarket, adding to Thursday's 7.7% slide. That followed news that its Covid-19 vaccine saw 48% efficacy in updated study results, only slightly improved from initial results.

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Billionaire space race: Richard Branson aiming for July 11 launch date, 9 days ahead of Jeff Bezos

Fox Business 01 July, 2021 - 06:12pm

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ProcureAM CEO Andrew Chanin discusses the potential impact of the Pentagon's UFO report on space stocks.

Virgin Galactic announced Thursday that the launch window for its first fully crewed spaceflight opens July 11, and founder Richard Branson will be onboard. 

If all goes according to plan and the VSS Unity launches on July 11, then Branson will be the first billionaire in space, nine days ahead of Jeff Bezos's first planned flight aboard Blue Origin's New Shepard space ship. 

"I truly believe that space belongs to all of us," Branson wrote Thursday. "After 17 years of research, engineering and innovation, the new commercial space industry is poised to open the universe to humankind and change the world for good."

Branson hinted that he was trying to get to space soon on Wednesday after Virgin Galactic's sister company, Virgin Orbit, launched seven satellites.

"All I can say is when the engineers tell me that I can go to space, I’m ready, fit and healthy to go," Branson told the Associated Press after Virgin Orbit's successful launch. "So we’ll see."

Two pilots and three other mission specialists will be on board with Branson, who will be "testing the private astronaut experience," the company said Thursday. 

One of the objectives of the mission is to evaluate the "commercial customer cabin with a full crew, including the cabin environment, seat comfort, the weightless experience, and the views of Earth that the spaceship delivers — all to ensure every moment of the astronaut’s journey maximizes the wonder and awe created by space travel," according to Virgin Galactic.

Bezos announced earlier this month that he, his brother Mark, and a $28 million auction winner would take off July 20 on New Shepard's first crewed suborbital flight, which will reach an altitude of more than 340,000 feet. 

"Ever since I was five years old, I’ve dreamed of traveling to space," Bezos wrote in an Instagram caption announcing the flight on June 7. "On July 20th, I will take that journey with my brother. The greatest adventure, with my best friend."

Female aerospace pioneer Wally Funk will also be onboard New Shepard next month, which will make her the oldest person ever in space at 82 years old, Blue Origin announced Thursday. 

Virgin Galactic is planning two more test flights later this year before it plans to open for business to paying astronauts in 2022. 

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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Virgin Galactic Holdings, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2021 - SPCE

Yahoo Finance 01 July, 2021 - 02:17pm

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

CASE DETAILS: According to the filed complaint: (i) for accounting purposes, Social Capital Hedosophia Holdings Corp.'s ("SCH") warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the business combination; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Virgin Galactic, you have until July 27, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you purchased Virgin Galactic securities between October 26, 2019 and April 30, 2021, you may be entitled to compensation without payment of any out-of-pocket costs or fees.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?prid=17326&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.

WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars for shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by corporations.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington, D.C. The Firm's Founding Partners, Joseph Levi and Eduard Korsinsky, have been representing shareholders and institutional clients for almost 20 years and have achieved remarkable results for clients in the U.S. and internationally. The firm, with more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those that we represent. Our attorneys have extensive expertise representing investors in securities litigation with a track record of recovering hundreds of millions of dollars in cases. Levi & Korsinsky was ranked in Institutional Shareholder Services' ("ISS") SCAS Top 50 Report for 7 years in a row as a top securities litigation firm in the United States. The SCAS Top 50 Report identifies the top plaintiffs' securities law firms in the country, and year after year, ISS has recognized Levi & Korsinsky as a leading firm in the area of securities class action litigation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89248

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Shares of Virgin Galactic Holdings (NYSE: SPCE) ran into turbulence this week, down 22% from last Friday as of midday Thursday. The stock rocketed higher last week after winning a key regulatory approval, but some on Wall Street seem to believe that climb was too high, too fast. Virgin Galactic shares have a history of turbulence, and this past week has been no exception.

Richard Branson’s Virgin Orbit delivered satellites from three countries into space Wednesday, its second successful rocket launch from a plane.

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The boss of Arm has warned that the company could be forced to cut investment and jobs if the British technology company were to go public instead of being sold to Nvidia. Simon Segars, Arm’s chief executive, told The Telegraph that the public markets were the “worst place to go” and could force it to address costs after a years-long spending drive that has seen it hire thousands of UK staff. Opponents of the $40bn (£29bn) sale to Nvidia have urged Arm to relist its shares, five years after the

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