PG&E, Las Vegas Sands, Planet Fitness Rise Premarket; Li Auto, Lyft Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, September 26th. Please refresh for updates.
Amazon (NASDAQ: AMZN) stock fell 0.6% after the online retail giant announced plans to hold a sale for its loyalty-club shoppers, starting on Oct. 11, to boost holiday revenue and appeal to cost-conscious buyers facing economic turbulence.
Apple (NASDAQ: AAPL) stock fell 0.5%, falling in line with the general market, despite the tech giant saying it will manufacture its latest iPhone 14 in India, moving some of its production away from China.
PG&E (NYSE: PCG) stock rose 3.8% after S&P Dow Jones Indices announced on Friday that the utility will join the benchmark S&P 500 index on Oct. 3, replacing Citrix Systems (NASDAQ: CTXS), down 1.7%.
Las Vegas Sands (NYSE: LVS) stock rose 6.8%, Wynn Resorts (NASDAQ: WYNN) stock rose 5% and MGM Resorts (NYSE: MGM) stock rose 2.3% after Macau authorities said China would resume an e-visa scheme for mainland travelers and permit group tours, likely increasing footfall at the gambling resort.
Li Auto (NASDAQ: LI) stock fell 2.5% after the Chinese electric vehicle manufacturer cut its delivery outlook for the third quarter, citing “supply chain constraints”.
Lyft (NASDAQ: LYFT) stock fell 3.7% after UBS downgraded its investment stance on the ride-hailing company to ‘neutral’ from ‘buy’, saying its survey suggests drivers prefer main rival Uber (NYSE: UBER).
Planet Fitness (NYSE: PLNT) stock rose 4.3% after Raymond James upgraded its stance to ‘strong buy’ from ‘market perform’, citing a low valuation as well as a recession-resistant business.