By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, December 21st. Please refresh for updates.
Nike (NYSE:NKE) stock rose 3.7% after sales of its shoes and apparel in North America, the company’s largest market, rose 12% year-on-year, offsetting a 20% slump in the company’s sales in China.
Micron (NASDAQ:MU) stock rose 8.5% after a solid start to the chipmaker's financial year, driven by strong demand for its memory and storage chips, led it to promise a record year of sales with “solid profitability”.
Nikola (NASDAQ:NKLA) stock rose 2.9% after the electric-truck maker agreed to pay $125 million to the Securities and Exchange Committee to settle charges that it defrauded investors, removing an element of uncertainty over the stock.
FedEx (NYSE:FDX) stock rose 1.5% after JPMorgan named the delivery company as one of its top picks for 2022, seeing nearly 30% upside.
General Mills (NYSE:GIS) stock fell 3.5% after the food retailer missed its quarterly earnings estimates, citing higher input costs and supply chain disruptions. That said, it raised its full-year sales forecast, boosted by strong demand for snacks and baking products as the pandemic-induced at-home cooking boom held strong.
Citrix Systems (NASDAQ:CTXS) stock rose 9.2% following a Bloomberg report that said that activist investor Elliott Management and Vista Equity Partners are considering a joint bid for the cloud computing company.
Rite Aid (NYSE:RAD) stock rose 4.8% after the pharmacy chain recorded a quarterly profit, instead of the expected loss, and announced the closure of over 60 stores to generate annual savings of around $25 million.
Moderna (NASDAQ:MRNA)stock rose 0.3% after CEO Stephane Bancel told a Swiss newspaper that work to tailor its Covid-19 vaccine to protect against the Omicron variant could begin within a few weeks, and that only minor adjustments would be needed.