By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, July 16th. Please refresh for updates.
Twitter (NYSE:TWTR) stock fell 4% after the tech giant was forced to freeze some of its most high-profile accounts after they were hijacked in a digital currency scam, raising serious questions about the platform's security.
Tesla (NASDAQ:TSLA) stock fell 3.8% after its vehicle registrations nearly halved in California during the second quarter, according to data from Cross-Sell, a marketing research firm that collates title and registration data.
Dell Technologies (NYSE:DELL) stock rose over 11% after the PC maker confirmed late Wednesday it’s considering spinning off its 81% stake in cloud computing software maker VMware (NYSE:VMW), up 1.3%, adding that such a move would not occur before September 2021.
Morgan Stanley (NYSE:MS) stock rose 0.2% after the banking giant recorded a 45% rise in quarterly profit, continuing the recent theme of strong trading gains in volatile markets.
Bank of America (NYSE:BAC) stock fell 2.9% after reporting a drop of more than 50% in second-quarter profit, even while posting lower loan loss provisions than most of its peers.
American Airlines (NASDAQ:AAL) stock dropped 4.5% after the airline warned about 25,000 employees about potential job cuts this fall as surges in coronavirus cases dash hopes for a quick rebound in travel demand.
Johnson & Johnson (NYSE:JNJ) stock dropped 0.3% after posting a 35% drop in second-quarter profit as the Covid-19 outbreak resulted in a sharp hit to sales of its medical devices. However, the healthcare conglomerate was able to raise its full-year guidance.
- Alcoa (NYSE:AA) stock rose 4.8% after the aluminum products company reported a smaller than expected second-quarter loss, helped by lower production costs and increased sales.