TAL Education, Tencent Music, Lockheed Fall Premarket; Hasbro Rises

Investing.com

July 26, 2021 at 4:08 a.m.·1 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, July 26th. Please refresh for updates.

TAL Education (NYSE:TAL) stock fell 23%, GSX Techedu (NYSE:GOTU) stock fell 23% and New Oriental Education (NYSE:EDU) stock fell 24% after the Chinese authorities released a new directive over the weekend forcing the country's online learning providers to operate on a not-for-profit basis.

Alibaba (NYSE:BABA) ADR fell 3.3%, Baidu (NASDAQ:BIDU) ADR fell 3.8% and Didi Global (NYSE:DIDI) ADR fell 11% as the Chinese stocks listed in the U.S. suffered from the extended regulatory clampdown by Beijing.

Tencent Music (NYSE:TME) stock fell 10% after China's market regulator said over the weekend it would bar the company from exclusive music copyright agreements.

Amazon (NASDAQ:AMZN) stock rose 0.5% amid speculation that the online retail giant is exploring venturing into digital currencies after it advertised last week a vacancy for a digital currency product lead.

Lockheed Martin (NYSE:LMT) stock fell 0.4% after the weapons maker missed expectations with its second-quarter earnings, hurt by a classified aeronautics development program.

Hasbro (NASDAQ:HAS) stock rose 4.7% after the toymaker beat quarterly expectations, with its film and television production business returning to growth after the pandemic hit.

Koninklijke Philips (NYSE:PHG) ADR fell 4.8% after the Dutch health technology company booked an additional 250 million euros provision to do with the recall of breathing devices and ventilators, overshadowing otherwise strong second-quarter earnings.

Check Point Software (NASDAQ:CHKP) stock rose 0.5% after the cybersecurity firm beat quarterly expectations, with its software sales boosted by the recent spate of ransomware attacks.

TAL Education, Tencent Music, Lockheed Fall Premarket; Hasbro Rises

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