By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, July 8th. Please refresh for updates.
Didi Global (NYSE:DIDI) fell 5.7%, the ride-hailing company falling for the fourth day on continued worries over China's increased regulatory scrutiny on domestic technology companies. E-commerce giant Alibaba (NYSE:BABA) stock fell 2.6% and internet search engine Baidu (NASDAQ:BIDU) stock dropped 3.8%.
CSX (NASDAQ:CSX) stock fell 1.1%, Canadian Pacific (NYSE:CP) stock fell 1.9%, Norfolk Southern (NYSE:NSC) stock fell 2% after the Wall Street Journal reported that the Biden administration is looking to confront consolidation and perceived anti competitive pricing in the railroad industries. Canadian National Railway (NYSE:CNI) stock rose 0.5%, with the company in a takeover battle for Kansas City Southern (NYSE:KSU).
Carnival (NYSE:CUK) stock fell 5.1%, Royal Caribbean (NYSE:RCL) stock fell 2.8% and Norwegian Cruise Line (NYSE:NCLH) stock dropped 3.7% on fears the spread of the delta variant of the Covid-19 virus will delay the full reopening of the industry.
United Airlines (NASDAQ:UAL) stock fell 3.1%, American Airlines (NASDAQ:AAL) stock dropped 3% and Delta Air Lines (NYSE:DAL) stock fell 2.2% on fears the surge of Covid-19 cases globally will hit the travel industry.
Alphabet (NASDAQ:GOOGL) stock fell 1.7% after a number of states took the owner of Google to court alleging it operates an illegal monopoly with its Google Play app store.
WD-40 Company (NASDAQ:WDFC) stock rose 5.2% after the chemicals company raised its full-year revenue forecast, citing a strong third quarter.
Gan Ltd (NASDAQ:GAN) stock rose 11% after the online gaming company announced strong preliminary second-quarter results, lifting its revenue guidance for the year.
DR Horton (NYSE:DHI) stock fell 2.1% after RBC downgraded its stance on the home builder to ‘sector perform’ from ‘outperform’, saying this market is due for a slowdown.
Charles Schwab (NYSE:SCHW) stock fell 3.7% after Goldman Sachs (NYSE:GS) downgraded the financial services company to ‘neutral’ from ‘buy’, saying upside is limited after the recent retail trading boom.
Coinbase Global (NASDAQ:COIN) stock fell 5.4%, with the cryptocurrency exchange weighed by the 6% slump in the price of bitcoin, the largest by market capitalization of the digital currencies.
- GameStop (NYSE:GME) stock fell 6.7% and AMC Entertainment (NYSE:AMC) stock fell 11% with retail investors deserting these meme stocks as sentiment turns in the broader equity markets.