© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Wednesday, January 4th. Please refresh for updates.
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Apple (NASDAQ:) 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.
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Microsoft (NASDAQ:) 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.
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Salesforce (NYSE:) 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.
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Goldman Sachs (NYSE:) stock fell 0.4% after Wolfe Research downgraded its stance on the investment bank to “market perform” from “outperform”, seeing “less compelling” upside.
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Alibaba (NYSE:) 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.
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Tesla (NASDAQ:) 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.
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Target (NYSE:) 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.
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