Adobe, Fox and Smith & Wesson Rise Premarket By Investing.com

By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Friday, June 18th. Please refresh for updates.

• Adobe (NASDAQ:ADBE) stock rose 2.8% after the software giant easily beat second-quarter targets, benefiting from customers moving towards a digital lifestyle by offering more mobile-based applications.

• Fox Corp (NASDAQ:FOX) stock rose 1% after the entertainment announced plans to add $2 billion to its stock repurchase plan, bringing the total amount authorised to $4 billion.

• Smith & Wesson (NASDAQ:SWBI) stock rose 4.5% after the gun manufacturer reported  strong quarterly results, a new share buyback program and a higher dividend. 

• Lennar (NYSE:LEN) stock rose 1.4% after Goldman Sachs (NYSE:GS) upgraded its recommendation on the real estate company to ‘overweight’ from ‘neutral’, seeing nearly 50% upside in a hot housing market.

• Athira Pharma (NASDAQ:ATHA) stock slumped 39% after the company placed its Chief Executive Officer Leen Kawas on temporary leave as it completes a review “stemming from doctoral research Dr. Kawas conducted while at Washington State University.”

• Delta Air Lines (NYSE:DAL) stock rose 0.2% and Alaska Air (NYSE:ALK) stock rose 0.2% after Wolfe Research upgraded both airlines to ‘outperform’ from ‘underperform’ and ‘peer perform’ respectively, stating that the companies managed through the pandemic without needing to raise significant amounts of cash

• Codexis (NASDAQ:CDXS) stock rose 3.1% after the enzyme engineering company announced a $13.9 million order from a global pharmaceutical company, lifting its guidance for FY 2021.

• Orphazyme (NASDAQ:ORPH) stock slumped over 50% after the Food and Drug Administration rejected its experimental treatment for a rare genetic disorder known.

• Biogen (NASDAQ:BIIB) stock rose 1.6% after Piper Sandler upgraded its investment stance to ‘overweight’ from ‘neutral’, citing the likely success of its newly approved Alzheimer’s drug Aduhelm.