Tesla, Bed Bath&Beyond rise premarket; Ichor, CarMax and Salesforce fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, January 11th. Please refresh for updates.
Tesla (NASDAQ: TSLA) stock rose 1.7% after the electric car manufacturer applied to expand its gigafactory in Texas with an investment totaling $775.7 million, marking one of its largest expansion drives since setting up the $5.5B gigafactory in Germany last year.
Ichor Holdings (NASDAQ: ICHR) stock fell 11% after the semiconductor equipment maker warned of a revenue miss for the final quarter of last year, as well as difficulties in the first quarter of the new year.
CarMax (NYSE: KMX) stock fell 2.2% after JPMorgan downgraded its stance on the used car company to ‘underweight’ from ‘neutral’, saying hopes for a recovery look “premature”.
American Airlines (NASDAQ: AAL) stock fell 0.3%, Delta Air Lines (NYSE: DAL) stock fell 0.1% and Southwest Airlines (NYSE: LUV) stock dropped 1.6% after the U.S. FAA grounded all U.S. flights due to a system outage.
Bed Bath & Beyond (NASDAQ: BBBY) stock rose over 26% after short-sellers closed out short positions at this troubled retailer despite bleak quarterly results.
Xpeng (NYSE: XPEV) stock fell 0.5% after JPMorgan downgraded its stance on the Chinese electric vehicle manufacturer to ‘neutral’ from ‘overweight’ following China's decision to end a more than a decade-long subsidy for EV purchases.
- Salesforce (NYSE: CRM) stock fell 2.9% after Bernstein downgraded its stance on the company to 'underperform' from 'market perform', saying the stock could fall nearly 20%.