By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, October 15th. Please refresh for updates.
Morgan Stanley (NYSE:MS) stock fell 0.6% despite the bank posting a 26% jump in third-quarter profit, powered by another bumper quarter at its trading business.
Fastly (NYSE:FSLY) stock slumped 29% after the software company said that its largest customer, TikTok parent Bytedance, did not use its product as much as expected amid a threatened ban in the U.S.
Alcoa (NYSE:AA) stock dropped 6.2% after the company projected a fourth-quarter decline in its key aluminum business, overshadowing a smaller-than-expected loss in the third quarter.
Tesla (NASDAQ:TSLA) stock fell 2.4% after CEO Elon Musk tweeted that the company would be reducing the price of its flagship sedan, the Model S, to $69,420, its second price cut this week.
United Airlines (NASDAQ:UAL) stock fell 1% after the airline posted a net loss of $1.8 billion in the third quarter, its third huge quarterly loss of the year, as the pandemic curtailed traffic.
Sleep Number (NASDAQ:SNBR) stock soared 6.2% after the smart bed company’s earnings and outlook topped estimates.
Tiffany (NYSE:TIF) stock rose 0.4% after the jeweler said sales have been rising through October on strong online demand.
Walgreens (NASDAQ:WBA) stock rose 1.9% after the drug-store services company reported a fiscal fourth-quarter profit that fell less than expected, while revenue rose above forecasts. It has also raised its dividend.
Wells Fargo (NYSE:WFC) stock fell 0.4% after Reuters reported the banking giant has fired about 100 to 125 employees for unethically availing themselves of coronavirus relief funds. The bank reported a drop in profit of 57% in the third quarter on Wednesday.
Zoom Video Communications (NASDAQ:ZM) stock fell 2.2% despite the company announcing it will bring applications and paid-for events to its video meetings service, an attempt to turn online meetings into a more central part of users’ lives.