Kenvue rises in early trading, reversing some of yesterday’s drop, as scientists push back on Tylenol-autism link

Kenvue, the company behind pain relief medication Tylenol, is seeing shares rebound a little this morning as doctors push back against President Trump’s claims about the drug’s link to autism, per Reuters.

At a news conference yesterday, the president repeatedly warned pregnant women to avoid taking Tylenol, suggesting that the drug’s active ingredient (acetaminophen) is connected to rising autism rates in the US, sending shares in Kenvue, which was spun off from Johnson & Johnson just over two years ago, slumping to a record low.

A company spokesperson has since rejected the claims, scientists have started weighing in, and the FDA has confirmed that, while it will change warning labels on drugs containing acetaminophen, a causal relationship has not been established.

The company’s stock was up about 6% in premarket trading as of 6:20 a.m. ET.

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Matt Phillips30m

Firefly Aerospace dives after first earnings report

Firefly Aerospace, a Texas-based midcap builder of space launch vehicles, dove in early trading Tuesday after posting its first quarterly report since its August IPO.

Results were worse than expected. Sales dropped 26% to $15.5 million. And the company posted an adjusted loss per share of $5.78, compared to a loss of $4.60 per share last year.

Firefly Aerospace shares tumble after it posts widening loss, declining revenue

Luke Kawa40m

Plug Power has nearly doubled in seven sessions on no fundamental news

Plug Power’s romp higher on heavy volumes continues apace.

Nearly 30 million shares have changed hands as of 9:27 a.m. ET, making Plug the second-most-traded stock on US exchanges and propelling the stock up double digits.

There’s little in the way of fundamental news to speak of behind Plug’s recent surge, which has seen shares nearly double since September 12.

If the stock ends higher today, it will mark 10 straight day of gains for the hydrogen fuel cell company, its longest winning streak on record.

Outside of the explosion in volumes in mid-May (after the stock had hit its lowest level in over a decade) and Plug’s meme stock moment in 2014, this is the hottest five-day average for volumes in the stock ever.

Luke Kawa2h

Opendoor continues to tumble after one of its biggest owners dumped over 11 million shares Monday

The rejuvenation of Opendoor Technologies’ share price has been a story of more buyers than sellers, particularly retail investors enthused by the change of leadership at the online real estate company.

The stock’s abrupt tumble on Monday — with the pain seemingly extending into the premarket on Tuesday — is what happens when selling pressure rises to the fore.

Access Industries, an investment firm run by Len Blavatnik, sold 11.36 million shares of Opendoor through its AI LiquidRE arm, with September 22 listed as the approximate date of sale, per a filing.

The investment firm is the third-largest holder of Opendoor shares, according to Bloomberg, trailing only new CEO Kaz Nejatian and index fund provider Vanguard.

Access Industries previously sold 10.87 million shares of Opendoor on September 12.

Its Access Technologies Venture arm was one of Opendoor’s early backers, cited as the lead investor in its Series C round back in October 2015.

Max Knoblauch2h

Boeing climbs on $8.5 billion Uzbekistan Airways deal that could be followed by more large orders

As world leaders converge on New York City for the UN General Assembly, more Boeing deals are being struck with countries seeking favor with the Trump administration.

On Monday evening, Boeing announced Uzbekistan Airways will order up to 22 of the plane maker’s 787 Dreamliner jets in an $8.5 billion deal. It would be the largest order ever for the airline and, per Boeing, support nearly 35,000 US jobs. Boeing shares climbed more than 2% in premarket trading on Tuesday.

It may not be the only big order Boeing receives this week. According to reporting by Bloomberg, Turkish President Recep Tayyip Erdogan — who is set to visit the White House Thursday — has plans to buy “hundreds” of Boeing planes. At a Tuesday press conference, US lawmakers visiting China said negotiations were nearing their “last days or weeks.”

Boeing has repeatedly been at or near the center of Trump administration trade deals, securing several multibillion-dollar orders from airlines in South Korea, Qatar, and the UK, among others.

Luke Kawa2h

IonQ jumps after announcing tech breakthrough on interconnecting quantum computers

IonQ is up more than 3% in premarket trading after announcing “a significant technological advancement in its pursuit of scalable quantum networks.”

Specifically, the company was able to convert photons from visible wavelengths into telecom wavelengths, which it calls a “critical milestone” that “paves the way for interconnecting quantum computers over vast distances using the current existing fiber optic infrastructure.”

Technological achievements — like the reduction in error rate that Rigetti achieved with its multi-chip quantum computer in July — have been key catalysts for the industry in the past. What makes this one a little extra special for IonQ is that this progress was made “with research support from the Air Force Research Lab,” an entity that’s currently partnering with multiple firms in the industry to advance its quantum capabilities.

With little in the way of commercial applications for gate-based quantum computing companies, research and government-linked institutions are a key source of revenues.

“We will soon connect two quantum computers over standard wavelengths, opening the floodgates for broadly networked quantum devices using commercial fiber infrastructure,” said Niccolo de Masi, chairman and CEO of IonQ.

IonQ plans to acquire quantum sensor company Vector Atomic, which Needham & Co. analyst N. Quinn Bolton said would help support the growth of the firm’s business with governments.

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