By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Friday, May 15th. Please refresh for updates.
- JD.Com (NASDAQ:JD) ADRs were up 3.5% after the company reported a strong set of numbers for the quarter that underlined the advantages of online retailers in an environment stamped by lockdowns.
- Micron (NASDAQ:MU) stock was down 6.3%, in response to growing fears about a re-heating of U.S.-China trade tensions. President Trump has reportedly moved to further restrict U.S. sales of chips to Huawei on national security grounds.
- Taiwan Semiconductor Manufacturing (NYSE:TSM) stock was down 2.8% afer the chipmaker said it will spend $12 billion to build a new chip factory in Arizona, creating an estimated 1,600 jobs. The news comes against increased threats of trade measures against China by the Trump administration.
- Amazon.com (NASDAQ:AMZN) stock was down 0.8%, outperforming the broader market after an otherwise dismal set of U.S. retail sales data showed non-store sales volumes rose 8.4% in April.
- Walmart (NYSE:WMT) stock also outperformed, falling only 0.1%, but JC Penney (NYSE:JCP) stock fell back 15% after reports suggesting the company will file for chapter 11 bankruptcy later in the day.
- Abbott Laboratories (NYSE:ABT) stock was down 2.3% after the U.S. Food and Drug Administration said its preliminary data showed that the company's rapid novel coronavirus (COVID-19) testing kits are returning false negatives.