By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, January 28th. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock fell 4.8% after the electric carmaker failed to provide a concrete target for vehicle deliveries in 2021, even as it posted record earnings on Wednesday. JMP Securities has downgraded its investment stance to ‘market perform’ from ‘outperform’.
- GameStop (NYSE:GME) stock rose 28%, continuing the retail-based momentum which has seen the shares in the video games retailer soar above $450 from $40 just a week ago.
American Airlines (NASDAQ:AAL) stock rose 48% as retail traders moved to squeeze short interest in the stock after the airline’s sales came in ahead of expectations in the fourth quarter. It still reported an $8.9 billion annual loss on Thursday, its biggest on record, with its cash burn rate around $30 million a day in the quarter.
Southwest Airlines (NYSE:LUV) stock rose 5.5% after the airline forecast that January revenue will be down 65% to 70% compared with 2019, slightly better than a decline of as much as 75% it previously forecast. It still reported its first annual loss since 1972.
Apple (NASDAQ:AAPL) stock fell 2.4%, with investors worried that the iPhone maker didn't provide specific forward guidance despite reporting late Wednesday that its smartphone shipments jumped 22% to record levels in the fourth quarter, making it the world's biggest seller.
Facebook (NASDAQ:FB) stock rose 0.3% after the social media giant easily beat quarterly revenue estimates on Wednesday after heavy holiday advertising by e-commerce retailers. It also warned Apple's impending privacy changes could hurt its revenue by interfering with ad targeting.
Dow (NYSE:DOW) stock rose 0.8% after the company reported a jump in fourth-quarter profit of over 61%, compared with the third, helped by higher demand and prices for its chemicals.
McDonald’s (NYSE:MCD) stock fell 0.9% after the fast food chain missed both earnings and revenue estimates with its quarterly numbers, although its U.S. comparable-restaurant sales did beat forecasts.
Comcast (NASDAQ:CMCSA) stock rose 2.8% after the media conglomerate posted strong quarterly results and raised its dividend, while stating its Peacock streaming service has now reached 33 million subscribers in its first 6 months.
Levi Strauss (NYSE:LEVI) stock fell 3.2% after the jeans maker issued a cautious forecast for the current quarter, despite beating expectations with its quarterly earnings.
- AMC Entertainment (NYSE:AMC) stock fell 15%, BlackBerry (NYSE:BB) fell 9.6% and Nokia (NYSE:NOK) ADR dropped 18%, all three stocks weakening after they were subject to a short squeeze Wednesday.