By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, June 17th. Please refresh for updates.
Twitter (NYSE:TWTR) stock rose 1.7% after billionaire Elon Musk told employees that he’s still committed to his bid for the social media company, but gave a back-handed warning of staff cuts coming down the line if he succeeds.
Tesla (NASDAQ:TSLA) stock rose 1.5%, helped by the better overall tone, despite the electric car manufacturer raising the price for some Model Y cars for the Chinese market.
Adobe (NASDAQ:ADBE) stock fell 3.8% after the software company offered up disappointing full-year guidance after the close Thursday, citing the war in Ukraine, a $175 million foreign-exchange headwind, and summer seasonality.
Roku (NASDAQ:ROKU) stock rose 5.4% after the streaming service announced a partnership with Walmart (NYSE:WMT), with the deal allowing Roku’s viewers to take advantage of the retail giant’s e-commerce platform.
Alibaba (NYSE:BABA) ADRs rose over 10% after Reuters reported that China’s central bank has accepted affiliate Ant Group’s (HK:6688) application to set up a financial holding company.
United States Steel (NYSE:X) stock rose 7.3% after the steel producer announced stronger than expected second quarter guidance and also accelerated its stock buybacks in the same quarter.
Dow (NYSE:DOW) stock fell 0.9% after Citigroup downgraded its stance on the chemicals company to ‘neutral’ from ‘buy’, saying the sector will struggle going forward.
Utz Brands (NYSE:UTZ) stock almost 9% after Goldman Sachs upgraded the snack foods company to ‘buy’ from ‘neutral’, saying it is now at a “compelling entry point.”