Stock Market News
PG&E, Las Vegas Sands, Planet Fitness Rise Premarket; Li Auto, Lyft Fall
2022.09.26 08:36
Stocks in focus in premarket trade on Monday, September 26th. Please refresh for updates.
- Amazon (NASDAQ:) stock fell 0.6% after the online retail giant announced plans to hold a sale for its loyalty-club shoppers, starting on Oct. 11, to boost holiday revenue and appeal to cost-conscious buyers facing economic turbulence.
- Apple (NASDAQ:) stock fell 0.5%, falling in line with the general market, despite the tech giant saying it will manufacture its latest iPhone 14 in India, moving some of its production away from China.
- PG&E (NYSE:) stock rose 3.8% after S&P Dow Jones Indices announced on Friday that the utility will join the benchmark on Oct. 3, replacing Citrix Systems (NASDAQ:), down 1.7%.
- Las Vegas Sands (NYSE:) stock rose 6.8%, Wynn Resorts (NASDAQ:) stock rose 5% and MGM Resorts (NYSE:) stock rose 2.3% after Macau authorities said China would resume an e-visa scheme for mainland travelers and permit group tours, likely increasing footfall at the gambling resort.
- Li Auto (NASDAQ:) stock fell 2.5% after the Chinese electric vehicle manufacturer cut its delivery outlook for the third quarter, citing “supply chain constraints”.
- Lyft (NASDAQ:) stock fell 3.7% after UBS downgraded its investment stance on the ride-hailing company to ‘neutral’ from ‘buy’, saying its survey suggests drivers prefer main rival Uber (NYSE:).
- Planet Fitness (NYSE:) stock rose 4.3% after Raymond James upgraded its stance to ‘strong buy’ from ‘market perform’, citing a low valuation as well as a recession-resistant business.
