By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, October 6th. Please refresh for updates.
Facebook (NASDAQ:FB) stock fell 1.1%, weighed along with the tech sector as a whole by rising bond yields. The social media giant will also be in focus after whistleblower Frances Haugen accused the company of prioritizing profits over safety in her testimony to Congress.
Constellation Brands (NYSE:STZ) stock fell 1.9% after the drinks company missed expectations with its quarterly earnings, even if it did increase its full-year earnings forecast.
Palantir Technologies (NYSE:PLTR) stock rose 6.9% after the software company won the bulk of a $823 million contract with the U.S. Army to provide data and analytics software.
General Motors (NYSE:GM) stock fell 0.3% ahead of the auto giant’s investor day, which is likely to provide more details about its plans for electric vehicle growth.
Moderna (NASDAQ:MRNA) stock fell 3.5% on the back of Sweden pausing use of the drugmaker’s Covid-19 vaccine, citing reports of possible rare side effects such as myocarditis.
Manchester United (NYSE:MANU) stock fell over 12% after the Glazer family, the owners of the English soccer club, offered to sell a stake worth about $186 million, the second disposal this year.
Nucor (NYSE:NUE) stock fell 3.1% and United States Steel (NYSE:X) (SA:USSX34) stock fell 4% after Goldman Sachs (NYSE:GS) downgraded its investment stance on both companies, to ‘neutral’ from ‘buy’, saying the price of hot-rolled coil steel has been abnormally high in 2021, but that may soon be coming to an end.
American Airlines (NASDAQ:AAL) stock fell 3.3% and JetBlue (NASDAQ:JBLU) stock dropped 2.6% after Goldman Sachs downgraded its stance on both airlines, to ‘sell’ from ‘neutral’ in the former’s case and to ‘neutral’ from ‘buy’ on the latter. The investment bank cited higher price of jet fuel and inflationary non-fuel cost pressures.