Stocks - Tesla, Apple, Netflix, Restaurant Brands Rise in Premarket
Stocks in focus in premarket trade Monday:
• Apple (NASDAQ:AAPL) stock advanced 0.52% by 8:20 AM ET (13:20 GMT) despite a report that showed it is losing market share in China. Its Chinese shipments fell an estimated 20% in the fourth quarter, twice the decline posted by the overall Chinese market.
• Tesla (NASDAQ:TSLA) stock gained 2.22% after CNBC reported that analysts at Canaccord Genuity upgraded the stock to buy and hiked its price target to $450 from $330.
• Nasdaq (NASDAQ:NDAQ) stock will be on watch in the regular session as competitor Euronext increased its rival bid for Norwegian-based Oslo Bors to about $790 million.
• NVIDIA (NASDAQ:NVDA) stock fell 1.80% after Bernstein analysts downgraded their recommendation to market perform from outperform and cut the target price to $175 from $250, according to MarketWatch.
• Microsoft (NASDAQ:MSFT) stock rose 0.64%, Netflix (NASDAQ:NFLX) stock gained 0.85% and Alibaba (NYSE:BABA) stock advanced 1.52%, respectively, despite a filing that showed hedge fund Third Point unloaded its stake in all three companies during the fourth quarter.
• Morgan Stanley (NYSE:MS) stock rose 0.47% as the company announced that it would acquire Solium Capital for $900 million.
• Lockheed Martin (NYSE:LMT) stock could see movement during the regular session as the U.S. Department of Justice sued the company for alleged false claims and kickbacks on a contract for nuclear site cleanup.
• Walmart (NYSE:WMT) stock slipped 0.14% amid news that a federal judge dismissed a shoplifter extortion case against the company and another six retailers.
• Restaurant Brands International (NYSE:QSR) stock traded up 2.07% as the company reported quarterly profit that beat expectations.
• Ingersoll-Rand stock could see movement in the regular session after the company announced that it would acquire Precision Flow Systems for $1.45 billion.