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.

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