Tesla, Bed Bath&Beyond and Silvergate Capital fall premarket; WWE rises
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, January 6th. Please refresh for updates.
Tesla (NASDAQ: TSLA) stock fell 6.2% after the electric car manufacturer cut its prices in China for the second time in less than three months, stoking expectations of a wider price war in the world's largest auto market.
Bed Bath & Beyond (NASDAQ: BBBY) stock slumped 12% after the troubled retailer said Thursday it was running out of cash and was exploring options, including bankruptcy.
Silvergate Capital (NYSE: SI) stock fell over 11% after JPMorgan downgraded its stance on the crypto bank to 'neutral' from 'overweight', saying mounting withdrawals are a cause for concern.
World Wrestling Entertainment (NYSE: WWE) stock rose 10% after former chief Vince McMahon said he intends to return as executive chairman to involve himself in the company's media rights negotiation process and review of strategic alternatives.
Shell (NYSE: SHEL) ADRs rose 0.4% after the energy giant said it had a strong fourth quarter for gas trading, despite the sharp fall in natural gas, and thus will pay an additional $2 billion in taxes in the fourth quarter.
- Bank of America (NYSE: BAC) stock fell 0.7% and JPMorgan Chase (NYSE: JPM) stock fell 0.8% after Deutsche Bank downgraded its stance on both banking rivals, citing weakening fundamentals.
- Southwest Airlines (NYSE: LUV) stock fell 2.5% after the carrier revised its fourth quarter forecast to net loss from "strong profit" after a technological meltdown forced it to cancel thousands of flights over the festive period.