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Stocks - Netflix, Tesla Fall Premarket; Chewy, Apple Rise

Investing.com

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

• Caesars Entertainment (NASDAQ:CZR) was in focus in premarket trade by 8:20 AM ET (12:20 GMT) after the casino company announced it is selling its Rio hotel and casino in Las Vegas to an affiliate of Imperial Cos. for $516.3 million.

• Netflix (NASDAQ:NFLX) was down 1% after the success of HBO at the annual Emmys underscored the intensifying competition in the streaming sector. HBO's parent company AT&T(NYSE:T) inched down 0.1%. Upcoming streaming offers from AT&T, Walt Disney (NYSE:DIS), and Apple (NASDAQ:AAPL) are likely to add to competition as viewers gain more streaming options.

• In related news, Viacom (NASDAQ:VIA) bought the cable TV rights to sitcom “Seinfeld” from Sony Pictures, starting in October 2021. Netflix (NASDAQ:NFLX) acquired the streaming rights to the hit show, also for 2021.

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• Apple (NASDAQ:AAPL) stock inched up 0.2% after Bloomberg reported that ten of its 15 requests for an exemption from tariffs on imports from China had been approved.

• Tesla (NASDAQ:TSLA) stock fell 0.6% in premarket trade after a Delaware judge ruled that the electric carmaker's board of directors will have to stand trial and defend CEO Elon Musk’s multibillion dollar pay package. The company was sued in June 2018 by shareholders over allegations of corporate waste.

• Chewy (NYSE:CHWY) stock jumped 2.9% after the pet product retailer was upgraded to buy from neutral by analysts at Nomura Instinet, who said worry over its profit margins are overstated.

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