By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, December 16th. Please refresh for updates.
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Accenture (NYSE:ACN) stock rose 11% after the IT consulting firm forecast better-than-expected second-quarter revenue after its first-quarter top-line expanded by 27%, with more clients seeking its cloud and security services.
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Delta Air Lines (NYSE:DAL) stock rose 2.5% after the airline said it expects to be profitable in 2022, betting on strong holiday demand amid surging cases of the Omicron coronavirus variant.
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AT&T (NYSE:T) stock rose 2.1% after Morgan Stanley upgraded its investment stance on the telecom giant to ‘overweight’ from ‘equal-weight’, saying it will become a more focused communications business after the merger of its media assets with Discovery (NASDAQ:DISCA).
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Lennar (NYSE:LEN) stock fell 6.5% after the homebuilder missed quarterly profit expectations as pandemic-led supply chain issues pushed lumber costs higher and delayed house deliveries.
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Novartis (NYSE:NVS) ADRs rose 4.2% after the Swiss drugmaker announced a new share buyback program worth up to $15 billion, with the money coming from the $20.7 billion it received from selling part of its stake in rival Roche.
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Visa (NYSE:V) stock rose 0.8% after the credit card giant added $12 billion to its share buyback program, bringing the authorised total to $13.2 billion.
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JM Smucker (NYSE:SJM) stock rose 0.4% after the food producer announced it was selling its natural and organic beverage and grains businesses to Nexus Capital Management for approximately $110 million.
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Robinhood (NASDAQ:HOOD) stock rose 0.3% despite Bank of America initiating coverage of the stock trading app with an ‘underperform’ rating, saying peak growth conditions for the company are over and growth will be harder to achieve from now.