By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Wednesday, September 16th. Please refresh for updates.
Nikola (NASDAQ:NKLA) stock fell 6.4% after reports that the U.S. Department of Justice is joining the SEC in making inquiries into fraud claims made against the electric truck maker after a report by the short-selling investment firm Hindenburg Research.
- General Motors (NYSE:GM) stock rose 4.4% following reports that the car manufacturer is set to announce plans to put into production an interchangeable “family” of electric vehicle drive systems and motors.
Facebook (NASDAQ:FB) stock fell 1.5% after the Wall Street Journal reported that the Federal Trade Commission is preparing a possible antitrust suit against the social media giant. A number of celebrities, including the likes of Kim Kardashian, have boycotted its Instagram platform.
FedEx (NYSE:FDX) stock rose 8.8% after the delivery giant reported the highest quarterly revenue in its history late Tuesday, prompting a bigger-than-expected quarterly profit on Tuesday amid a pandemic-fueled surge in e-commerce shipments.
Microsoft (NASDAQ:MSFT) stock rose 0.9% after the tech giant raised its quarterly dividend by 10%.
Adobe (NASDAQ:ADBE) stock rose 2.1% after the software company posted better-than-expected results for its fiscal third quarter, helped by robust demand for its cloud-based creative tools during the coronavirus pandemic.
Boeing (NYSE:BA) stock fell 0.9% after a report by the House Democrats criticized the aircraft manufacturer over design errors and a lack of transparency in the wake of the two fatal 737 MAX crashes.
Oracle (NYSE:ORCL) stock climbed 1.4% after President Donald Trump said Tuesday that the tech giant was “very close” to a deal over the popular video app TikTok.
- Kohls (NYSE:KSS) stock rose 0.2% after the retailer said it has cut about 15% of its corporate jobs, in an attempt to save about $65 million in annual expenses.
- Snowflake (NYSE:SNOW) stock set for its debut after being priced at $120, for a valuation of $33 billion. Jfrog (NASDAQ:FROG) stock also starts trading later Wednesday, after pricing its IPO at $44, above its $39 to $41 price range.
FedEx, General Motors Rise Premarket; Nikola Falls
By Reuters – Sep 16, 2020
MILAN (Reuters) – Ferrari (NYSE:RACE) rolled out the Portofino M, a modified version of its top-selling gran tourer, on Wednesday as the Italian sportscar maker pursues a rapid…
By Investing.com – Sep 16, 2020
By Christiana SciaudoneInvesting.com — XPO Logistics (NYSE:XPO) popped after Fedex reported breakthrough results and Credit Suisse (SIX:CSGN) raised its price target.
By Investing.com – Sep 16, 2020
By Christiana SciaudoneInvesting.com — Casino stocks slumped after Roth Capital downgraded Wynn Resorts (NASDAQ:WYNN).
Wynn fell 5%, Melco Resorts & Entertainment Ltd…
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