Home Depot, Wells Fargo, Vodafone fall premarket; Capital One rises
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 16th. Please refresh for updates.
Home Depot (NYSE: HD) stock fell 2.4% after the largest U.S. home improvement chain reported a miss in the current quarter and lower guidance for the year as soaring inflation deters customers from spending on their houses.
- Wells Fargo (NYSE: WFC) stock fell 0.4% after the banking giant agreed to pay $1 billion to settle a lawsuit accusing it of defrauding shareholders.
Baidu (NASDAQ: BIDU) stock rose 1.4% after the Chinese search engine giant beat first quarter revenue estimates as businesses spent more on advertising amid the country's economic recovery.
Capital One Financial (NYSE: COF) stock rose 6.5% after Warren Buffett’s Berkshire Hathaway disclosed it has begun investing in the consumer lender. Similarly, HP (NYSE: HPQ) stock rose 1.7%, while US Bancorp (NYSE: USB) stock fell 1.1%.
Tesla (NASDAQ: TSLA) stock rose 0.3% ahead of the electric car maker's annual shareholder meeting later in the session, with CEO Elon Musk under pressure to address investor concerns about the lack of a clear successor, softening demand and delays of some new models.
Western Alliance (NYSE: WAL) stock rose 3% after Bank of America reissued a ‘buy’ rating, saying the regional lender is not like the other three failed banks.
- Blue Apron (NYSE: APRN) stock rose 19.6% after the meal-kit provider announced plans for a long-term operations and logistics relationship with FreshRealm, a leading provider of fresh meals.
Vodafone (NASDAQ: VOD) ADRs fell 5.5% after the U.K.-based telecoms company announced plans to cut 11,000 jobs over the next three years, with new CEO Margherita Della Valle calling its performance “not good enough.”