By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, January 7th. Please refresh for updates.
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GameStop (NYSE:GME) stock rose 16% after the WSJ reported that the troubled video game retailer, and retail investors favorite, is launching a division to create a marketplace for non-fungible tokens, or NFTs, and enter cryptocurrency partnerships as part of its recovery plan.
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Sonos (NASDAQ:SONO) stock rose 3.7% after the speaker maker won a U.S. trade agency ruling that will limit the imports of some phones, laptops and speakers made overseas by Alphabet’s Google (NASDAQ:GOOGL) because they infringe patents.
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Quidel (NASDAQ:QDEL) stock rose 4% after the manufacturer of diagnostic healthcare products released strong preliminary fourth-quarter results, benefiting from customers seeking out Covid testing kits.
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T-Mobile US (NASDAQ:TMUS) stock fell 2.5% after the telecommunications company announced disappointing preliminary full-year results, adding only 1.2 million postpaid accounts and 5.5 million postpaid customers over the year.
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Discovery (NASDAQ:DISCA) stock rose 4% after Bank of America upgraded its investment stance on the media giant to “buy” from “hold”, saying the stock could climb 75% as its merger with WarnerMedia closes.
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Kohls (NYSE:KSS) stock fell 4.2% after UBS downgraded its stance on the retailer to “sell” from “neutral”, saying inflationary pressures will increase costs and hurt earnings.
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Starbucks (NASDAQ:SBUX) stock fell 2.1% after RBC downgraded its stance on the coffee chain to "sector perform" from "outperform", expecting weakening profits in the near term.
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Delta Air Lines (NYSE:DAL) stock rose 1.5% after Bank of America (NYSE:BAC) lifted its investment stance to “buy” from “neutral”, saying the rebound of corporate travel this year will boost the airline’s bottom line.
- DraftKings (NASDAQ:DKNG) stock rose 1.8% ahead of the weekend’s launch of legal mobile sports betting in New York State. That comes just in time for this year's Superbowl.