Walmart, Amazon, Netflix rise premarket; Home Depot, Harley-Davidson fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, November 15th. Please refresh for updates.
Home Depot (NYSE: HD) stock fell 2% after the home improvement chain left its annual forecasts unchanged even as quarterly results topped expectations, raising concerns about demand amid a slowing housing market.
Walmart (NYSE: WMT) stock rose 7% after the retail giant raised its full-year net sales expectations and forecast a smaller fall in annual profit as demand for groceries holds up despite higher prices. It also announced a new $20 billion share buyback plan.
Amazon (NASDAQ: AMZN) stock rose 3.2% after the Wall Street Journal reported that the online retail giant is looking at up to 10,000 corporate job cuts in a cost-saving exercise.
Netflix (NASDAQ: NFLX) stock rose 3.2% after Bank of America upgraded its stance on the streaming giant all the way to ‘buy’ from ‘underperform’, saying the ad subscriber tier can drive 23% upside.
Harley-Davidson (NYSE: HOG) stock fell 1.5% after Jefferies initiated coverage of the motorcycle manufacturer with an ‘underperform’ rating, saying its growth story "lacks legs."
- Energizer (NYSE: ENR) stock rose 8.1% despite swinging to a net loss in the fourth quarter, as adjusted profit and sales topped expectations as higher pricing offset declines in battery volumes.
- Estée Lauder (NYSE: EL) stock rose 1.8% after the Wall Street Journal reported that the cosmetics company was close to a deal to buy high-end fashion company Tom Ford for roughly $2.8 billion.
Taiwan Semiconductor Manufacturing (NYSE: TSM) stock rose 10%, Paramount Global (NASDAQ: PARA) stock rose 6%, Louisiana-Pacific (NYSE: LPX) stock climbed 10% and Jefferies Financial Group (NYSE: JEF) stock rose 4.5% after Berkshire Hathaway either increased or took new positions in the four companies.
- Vodafone (NASDAQ: VOD) ADRs fell 4.3% after the U.K.-based telecommunications company narrowed its annual income guidance after flagging that soaring consumer prices and elevated energy costs weighed on its half-year performance.