By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Tuesday, February 18th.
- 8:57 AM ET: Apple (NASDAQ:) stock fell 2.0% after the company warned it would miss its revenue guidance for the first three months of 2020, due to production constraints in China and an expected dip in Chinese sales, due to the covid-19 virus.
Walmart (NYSE:) stock rose 0.9%, shrugging off disappointing results for the fourth quarter, in which sales rose by less than expected.
The company also said it expects online sales to grow about 30% in fiscal 2021, down from last year's growth of 37%, and down from some 35% in the fourth quarter of last year.
Legg Mason stock rose 24% after rival asset manager Franklin Resources (NYSE:) agreed to buy it for $4.5 billion in cash. Franklin will also assume $2 billion of debt.
Franklin Resources (NYSE:) stock rose 14%.