Investing.com | Jan 14, 2020 13:33
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Tuesday, 14th January. Please refresh for updates.
8:32 AM ET: Citigroup (NYSE:C) stock was up 0.5% after its fourth-quarter revenue and earnings came in 3% ahead of expectations. The results were driven by a 49% rise in fixed-income trading revenue in the quarter. The bank’s global consumer division also posted an $8.5 billion increase in revenue.
8:27 AM ET: Microsoft (NASDAQ:MSFT) stock was down 0.1% after reports that Amazon.com (NASDAQ:AMZN) is seeking a court order to block it from working on a $10 billion Cloud computing contract from the Pentagon.
According to Reuters, who cited a court filing, Amazon (NASDAQ:AMZN) plans to file a motion for a temporary restraining order on Jan. 24 and a federal court will issue its decision on Feb. 11.
8:21 AM ET: Beyond Meat (NASDAQ:BYND) rose another 10.3%, extending a rally that has already seen it rise 50% since the end of last year.
There’s been no single catalyst for the increase, but a number of analysts have flagged what they see as an inevitable march toward mainstream status for plant-based meat alternatives in their outlooks for 2020.
The stock is still over 50% below where it peaked in the euphoria after its IPO last year.
8:17 AM ET: Visa (NYSE:V) stock was up 0.2%, on course for a fifth straight record high, after announcing the acquisition of fintech startup Plaid for $5.3 billion. The acquisition reflects the company’s efforts to ensure that its dominant position in global payments today isn’t eroded by new technologies that bypass cards.
Written By: Investing.com
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