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Nike, Rent-A-Center Fall Premarket; Amylyx, Micron and Meta Platforms Rise

September 30, 2022 8:54 AM EDT

By Peter Nurse -- Stocks in focus in premarket trade on Friday, September 30th. Please refresh for updates.

  • Nike (NYSE: NKE) stock fell over 11% after the world’s largest sportswear maker cautioned that gross margins would remain under pressure through the year.

  • Meta Platforms (NASDAQ: META) stock rose 0.3% after the Facebook-owner announced it will freeze hiring and look to cut costs, addressing an increasingly pressing cost problem.

  • Tesla (NASDAQ: TSLA) stock rose 0.2% with the company CEO Elon Musk set to unveil a prototype humanoid robot at the company’s “AI Day”, and may also discuss the electric car maker's long-delayed self-driving technology.

  • Amylyx Pharmaceuticals (NASDAQ: AMLX) stock rose 8.7% after the U.S. FDA approved its drug to treat a fatal neurodegenerative condition commonly known as Lou Gehrig's disease.

  • Altria (NYSE: MO) stock rose 0.4% after the tobacco giant announced it has exercised the option to be released from its non-competition obligations with troubled vaping company Juul.

  • Micron Technology (NASDAQ: MU) stock rose 1.4% after the chipmaker forecast strong revenue growth in the second half of fiscal 2023 even after warning of tougher times ahead and said it was cutting its investments.
  • Voya Financial (NYSE: VOYA) stock rose 1.2% after Piper Sandler upgraded its stance on the financial services company to 'overweight' from 'neutral', citing an attractive valuation.
  • Rent-A-Center (NASDAQ: RCII) stock fell 17% after the rent-to-own company cut its current quarter earnings guidance, citing the current macro economic conditions.

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