By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Thursday, March 25th. Major indices are paring losses after initial U.S. jobless claims rose to a record 3.28 million last week. Please refresh for updates.
- Ford Motor Company (NYSE:F) stock was down 4.5% after Standard & Poor’s cut its long-term credit rating to junk on Wednesday, effectively cutting it off from the Federal Reserve’s new backstop for corporate debt.
- Apple (NASDAQ:AAPL) stock was down 0.9% after the Japanese newspaper Nikkei reported that it may delay the launch its new generation of 5G iPhones in the fall, pushing back what it expected to be a surge in upgrades by consumers.
- Boeing (NYSE:BA) stock was up 3.8% after the $2 trillion ‘phase 3’ stimulus package passed the Senate 96-0, setting it up for what should be a relatively smooth passage through the House of Representatives by Friday.
- Fiat Chrysler (NYSE:FCAU) stock was down 1.2% after the company said it had entered into a new credit facility with two banks.
- Caterpillar (NYSE:CAT) stock was down 2.1% after the maker of heavy equipment withdrew its guidance for the year and suspending production at certain facilities due to disruptions in its supply chain.
- Beyond Meat (NASDAQ:BYND) stock was down 7.6% after analysts at Goldman Sachs (NYSE:GS) downgraded it to ‘sell’ from ‘neutral’ on valuation grounds