Tyson Foods, Walt Disney rise premarket; Oatly, Tesla, Hasbro fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 14th. Please refresh for updates.
Tyson Foods (NYSE: TSN) stock rose 1.9% after the packaged food maker forecast full-year sales above estimates, signaling steady demand for its produce despite decades-high levels of inflation.
Tesla (NASDAQ: TSLA) stock fell 1.1% on concerns that CEO Elon Musk said "I have too much work on my plate," raising fears that he will be unable to concentrate on his role at the electric car manufacturer after his purchase of Twitter.
Oatly (NASDAQ: OTLY) stock fell 10% after the maker of oat-based drinks reported a larger than expected quarterly loss, citing China's COVID restrictions as well as the stronger dollar.
Walt Disney (NYSE: DIS) stock rose 0.5% after Reuters reported that the entertainment giant is planning to freeze hiring and cut some jobs as it strives to move the Disney+ streaming service to profitability, citing a memo.
Coinbase (NASDAQ: COIN) stock fell 2% as the digital currency space continues to suffer from the fallout from the collapse of cryptocurrency exchange FTX.
Moderna (NASDAQ: MRNA) stock fell 1.5% after the drugmaker offered up mixed results for its latest COVID vaccine, saying it produced a better immune response against the BA.4/5 subvariant but a less effective response against the emerging subvariant BQ.1.1.
Hasbro (NASDAQ: HAS) stock fell 6.4% after Bank of America downgraded its stance on the toymaker all the way down to 'underperform' from 'buy', seeing the long-term value destruction of its "Magic: The Gathering" trading card game business.