Alphabet, Nucor, Bristol-Myers Squibb Fall Premarket; Starbucks Rises
Investing.com | Author Peter Nurse
Published Sep 14, 2022 07:37AM ET
Updated Sep 14, 2022 08:09AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, September 14th. Please refresh for updates.
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Alphabet (NASDAQ:GOOGL) stock fell 0.2% after Europe's second-top court upheld an EU antitrust decision against the tech giant’s Google unit, but trimmed the record fine.
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Starbucks (NASDAQ:SBUX) stock rose 0.8% after the coffee chain projected profits to grow between 15% and 20% per share over the next three years, a significant increase from previous guidance.
- Nucor (NYSE:NUE) stock fell 6.7% after the steel producer issued disappointing third-quarter earnings guidance, with the company citing "metal margin contraction and reduced shipping volumes."
- SoFi Technologies (NASDAQ:SOFI) stock rose 3.1% after Bank of America upgraded its stance on the fintech firm to 'buy' from 'neutral', citing increased user growth and engagement.
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Merck (NYSE:MRK) stock rose 0.1% after Berenberg upgraded its stance on the drug maker to ‘buy’ from ‘hold’, saying it has a lot to offer for investors looking for a low-risk option in the sector.
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Bristol-Myers Squibb (NYSE:BMY) stock fell 1.2% after Berenberg downgraded its stance on the pharma giant to ‘hold’ from ‘buy’, saying the upside is running out as the stock has gained nearly 14% year to date.
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Walmart (NYSE:WMT) stock rose 0.8% and Target (NYSE:TGT) stock rose 0.4% after KeyBanc initiated coverage of both retailers with ‘overweight’ ratings, ceiling heir strong competitive positioning.
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