By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, January 5th. Please refresh for updates.
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China Telecom (NYSE:CHA) stock rose 9.5%, China Mobile (NYSE:CHL) rose 10% and China Unicom (NYSE:CHU) climbed 17% after the New York Stock Exchange said it no longer intends to delist these three Chinese telecom giants, an abrupt reversal of an announcement made only last week.
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Amazon (NASDAQ:AMZN) stock fell 0.4% after the online retail giant announced Monday it was abandoning its health care joint venture, called Haven, with JPMorgan (NYSE:JPM) and Berkshire Hathaway (NYSE:BRKa), which had been launched only a couple of years ago.
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Netflix (NASDAQ:NFLX) stock fell 0.1% after Benchmark reiterated its ‘sell’ rating, seeing little chance of upside surprises for membership growth in the fourth quarter or 2021.
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JD.com (NASDAQ:JD) stock rose 1.9% after Steifel upgraded its investment stance to ‘buy’ from ‘hold’, with a target price of $105.
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McDonald’s (NYSE:MCD) stock rose 0.3% after the fast food giant announced plans to enter the lucrative crispy chicken market this year, rolling out three versions of a Crispy Chicken Sandwich in the United States on Feb. 24.
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Micron Technology (NASDAQ:MU) stock rose 3.2% after Citi upgraded its stance to ‘buy’ from ‘sell’, citing its expectation of an upturn in the DRAM memory chip market.
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First Solar (NASDAQ:FSLR) stock fell 4.5% after Goldman Sachs (NYSE:GS) downgraded its stance to ‘sell’ from ‘buy’, with the investment bank suggesting the company’s earnings and margins are peaking and that more cyclical headwinds are emerging.
- Qualcomm (NASDAQ:QCOM) stock fell 1% after the tech company announced Cristiano Amon as its CEO elect, replacing Steve Mollenkopf who is retiring after 26 years at the company.