Investing.com - Stocks in focus in premarket trading on Friday:
• Micron Technology (NASDAQ:MU) stock slumped 5.7% in premarket trade by 8:20 AM ET (12:20 GMT) after it forecast a disappointing holiday season due to falling demand for its memory products, while the company also said it was “mindful” of economic and trade uncertainty.
• Delta Air Lines (NYSE:DAL) stock gained attention after the company announced it was buying a 20% stake in LATAM Airlines for $1.9 billion in cash and debt.
• Las Vegas Sands (NYSE:LVS) stock gained 5% after it was added to the S&P 500, replacing Nektar Therapeutics. The move is effective Oct. 3.
• Wells Fargo & Company (NYSE:WFC) stock rose 2.7% after it named Bank of New York Mellon (NYSE:BK) CEO Charles Scharf as its new Chief Executive. The company has been without a CEO since Tim Sloan left earlier this year.
• LYFT (NASDAQ:LYFT) stock was up 1.3% after the ride-sharing company was rated as outperform in initial coverage at Wells Fargo (NYSE:WFC), which cited expectations that revenue per rider will grow faster than expected.
• Apple (NASDAQ:AAPL) stock inched up 0.2% after the Wall Street Journal reported that it is planning to bring feature-length films to movie theaters ahead of the release of its Apple TV + streaming service.