By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Friday, 24th January. Please refresh for updates.
- 9:18 AM ET: Alibaba ADRs (NYSE:BABA) fell 0.3% on concerns for Chinese consumption this year amid a clampdown on travel and public celebrations and the widespread closure of movie theaters and other places of mass gatherings, due to the spreading coronavirus outbreak. Standard & Poor’s Ratings Group warned on Thursday that the outbreak could take up to 1.2 percentage points off GDP growth this year.
- 9:13 AM ET: Ericsson (BS:ERICAs) (NASDAQ:ERIC) ADRs fell 7.6% after the telecom equipment company flagged higher costs related to the rollout of 5G networks, along with a disappointing 4% annual drop in revenue in the U.S., which it blamed in part on the delays to the merger of Sprint (NYSE:S) and T-Mobile US (NASDAQ:TMUS), which has been held up by antitrust concerns. The company nonetheless returned to profit in the quarter.
- 9:09 AM ET: Air Products and Chemicals (NYSE:APD) stock fell 0.1% after saying earnings in the current quarter would be some 4% below current consensus estimates. That overshadowed a modest beat on earnings for the final quarter of 2019.