© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, January 3rd. Please refresh for updates.
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Tesla (NASDAQ:) stock fell 3.9% after the electric car manufacturer reported for the fourth quarter, but still missed Wall Street estimates.
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Apple (NASDAQ:) stock rose 0.5% after Chinese media reported that the iPhone manufacturer‘s supplier Foxconn is now back operating its massive factory in Zhengzhou – the scene of some of the worst COVID-related disruptions – at 90% of capacity.
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Coty (NYSE:) stock rose 2.5% after Piper Sandler upgraded its stance on the beauty company to “overweight” from “neutral,” saying it is increasing exposure to China and travel retail, which should help further into 2023.
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Wynn Resorts (NASDAQ:) stock rose 3.4% after Wells Fargo upgraded the casino operator to “overweight” from “equal weight,” citing optimism over the reopening of Macau.
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PayPal (NASDAQ:) stock rose 2.4% after Truist upgraded the payments company to “buy” from “hold,” saying its forecasts now look reasonable.
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Ally Financial (NYSE:) stock fell 0.7% after Barclays downgraded its stance on the financial services company to “equal weight” from “overweight,” saying it is vulnerable in 2023.
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