Tesla and Ally Financial fall premarket; Coty, Wynn Resorts rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, January 3rd. Please refresh for updates.
Tesla (NASDAQ: TSLA) stock fell 3.9% after the electric car manufacturer reported record production and deliveries for the fourth quarter, but still missed Wall Street estimates.
Apple (NASDAQ: AAPL) stock rose 0.5% after Chinese media reported that the iPhone manufacturer's supplier Foxconn is now back operating its massive factory in Zhengzhou – the scene of some of the worst COVID-related disruptions - at 90% of capacity.
Coty (NYSE: COTY) stock rose 2.5% after Piper Sandler upgraded its stance on the beauty company to "overweight" from "neutral," saying it is increasing exposure to China and travel retail, which should help further into 2023.
Wynn Resorts (NASDAQ: WYNN) stock rose 3.4% after Wells Fargo upgraded the casino operator to "overweight" from "equal weight," citing optimism over the reopening of Macau.
PayPal (NASDAQ: PYPL) stock rose 2.4% after Truist upgraded the payments company to "buy" from "hold," saying its forecasts now look reasonable.
Ally Financial (NYSE: ALLY) stock fell 0.7% after Barclays downgraded its stance on the financial services company to "equal weight" from "overweight," saying it is vulnerable in 2023.