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Saturday, January 28, 2023

Apple, Tesla, Salesforce rise premarket; Microsoft, Target fall

Apple, Tesla, Salesforce rise premarket; Microsoft, Target fall
© Reuters.

 

BABA
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TSLA
+2.44%

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GE
+1.97%

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TGT
-1.30%

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AAPL
+1.79%

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GS
+0.62%

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MSFT
-3.93%

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By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Wednesday, January 4th. Please refresh for updates.

Apple (NASDAQ:AAPL) stock rose 0.5%, rebounding after the iPhone maker’s stock market value shrank sharply on Tuesday, leaving it below $2 trillion for the first time since March 2021.

Microsoft (NASDAQ:MSFT) stock fell 2.7% after UBS downgraded its stance on the software giant to “neutral” from “buy”, saying its growth engine, Azure, could suffer from a deceleration in growth.

Salesforce (NYSE:CRM) stock rose 3.5% after the cloud-based software company announced it would lay off about 10% of its employees and close some offices as a part of its restructuring plan.

Goldman Sachs (NYSE:GS) stock fell 0.4% after Wolfe Research downgraded its stance on the investment bank to “market perform” from “outperform”, seeing “less compelling” upside.

Alibaba (NYSE:BABA) stock rose 6.4% after reports that Ant Group, of which the Chinese e-commerce giant holds 33%, had received permission from China’s securities regulators to raise capital.

Tesla (NASDAQ:TSLA) stock rose 1.1%, bouncing after having dropped over 12% during the prior session, its biggest daily fall in over two years, following missing expectations for deliveries in the fourth quarter.

Target (NYSE:TGT) stock fell 1.9% after Wells Fargo downgraded the retailer to “equal weight” from “overweight”, saying consumers will have to make tough decisions in 2023.

Source: Investing.com

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