Pfizer rises, while GM and Uber fall premarket

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The shares of General Motors (NYSE: GM) plummeted 2% after the automaker decided to halt sales of its Chevrolet Bolt electric vehicles after issuing yet another recall owing to the risk of fires caused by the high-voltage battery pack. After a California judge deemed unlawful a vote that allowed these businesses to label their driver’s independent contractors, Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) stock slumped 4.1 percent and 4.4 percent, respectively.

After the New York Times reported that the U.S. Food and Drug Administration is trying to award complete approval to the Covid-19 vaccine created by the two drug companies, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) saw their stocks rise 3.5 percent and 7 percent, respectively. Additionally, the United Kingdom agreed to purchase 35 million extra vaccinations from both businesses.

Walt Disney (NYSE: DIS) stock increased 0.8 percent after the entertainment giant received $125 million in internet income from the Marvel superhero flick “Black Widow.” Movie star Scarlett Johannsen is suing the corporation because the simultaneous streaming release undermined the box office receipts to which her compensation was related. Chevron (NYSE: CVX) stock increased 1.9 percent, aided by a sharp jump in oil prices, while the Wall Street Journal reported that the oil major has begun mandating some employees to take Covid-19 immunizations and is evaluating requirements across its whole workforce. Boeing’s (NYSE:BA) stock jumped 1.4 percent after the Wall Street Journal reported that the plane maker was planned to invest in Virgin Orbit’s $3.2 billion SPAC offering. Coinbase (NASDAQ: COIN) stock surged 3.6 percent as the cryptocurrency exchange benefited from bitcoin’s rise above $50,000, to its highest level since early May.

PayPal (NASDAQ: PYPL) stock increased 0.9 percent after the US-based online payments business revealed that British users will be able to buy, hold, and sell digital currencies beginning this week.