Investing.com - Stocks in focus in premarket trade Thursday:
• Macy’s (NYSE:M) stock tumbled 17.24% by 8:10 AM ET (13:10 GMT) after the company lowered its guidance for annual comparable sales and earnings.
• Target (NYSE:TGT) stock fell 3.27%. The company reported that its holiday sales increased by 5.7% and reaffirmed guidance, but also said its CFO is stepping down. Retailer Kohl’s Corporation (NYSE:KSS) plunged 9.7% after its holiday comparable sales rose just 1.2%.
• Tesla (NASDAQ:TSLA) stock fell 0.45% after CEO Elon Musk said the company would stop selling the lowest priced models of Model S sedans and Model X SUVs.
• Twitter (NYSE:TWTR) stock rose 3.57% as Bank of America (NYSE:BAC) Merrill Lynched upgraded its recommendation to buy and raised its target price to $39 based on increased usage by younger people and higher levels of engagement, according to CNBC. The company also announced that it was updating its feed with speech bubbles, indentations and different colors.
• Nike (NYSE:NKE) stock lost 0.56% after the European Commission launched an investigation into the company’s tax treatment in the Netherlands upon suspicion that it may have an illegal advantage.
• Ford (NYSE:F) stock gained 0.57% after the company announced that the first redesign of its Explorer in eight years for release in 2020 and also described a {{news- 1743181||new turnaround strategy for its European division}} that will include cutting thousands of jobs, exiting unprofitable markets and discontinuing vehicle lines responsible for losses.
• Amazon.com (NASDAQ:AMZN) stock lost 0.82% as it announced a deal to potentially build a stake in Balyo (PA:BALYO) for self-driving forklift trucks. Shares in the French robotics company soared more than 50%.
• Bed Bath & Beyond (NASDAQ:BBBY) stock soared 16.8% after the company said it was ahead of its long-term financial goals and forecast earnings for fiscal 2019 that beat analysts’ expectations.
• KB Home (NYSE:KBH) stock jumped 2.37% after the company reported quarterly results that beat on the top and bottom lines.