Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Tesla, Coca-Cola Rise Premarket; Peloton Falls

Published 22/10/2020, 13:02
Updated 22/10/2020, 13:03
© Reuters.

© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Thursday, October 22nd. Please refresh for updates.

  • Tesla (NASDAQ:TSLA) stock rose 4.4% after the electric car maker reported strong third-quarter earnings and revenue numbers following "substantial" growth in vehicle deliveries.

  • Coca-Cola (NYSE:KO) stock rose 2.5% after the soft drinks giant beat quarterly revenue expectations, helped by the partial reopening of theaters and restaurants shut for months by the pandemic. 

  • Peloton (NASDAQ:PTON) stock fell 3.1% after Goldman Sachs (NYSE:GS) downgraded its investment rating on the home fitness company to “neutral” from “buy”, stating that the stock's 458% gain since it was added to the bank’s buy list in 2019 suggests that “much of the near term opportunity is priced in.”

  • Whirlpool (NYSE:WHR) stock rose 4.2% after the appliances maker reported a near 11% rise in third-quarter profit as stay-at-home orders boosted demand for its products during the coronavirus crisis. 

  • Amazon (NASDAQ:AMZN) stock rose 0.3% after the e-commerce giant said on Thursday it has invested $100 million in opening new warehouses in Mexico, in a bid to offer faster deliveries.

  • Check Point Software (NASDAQ:CHKP) stock rose 0.4% after the cybersecurity company reported a 6.9% rise in third-quarter profit, and said revenue grew in all key areas.

  • Chipotle (NYSE:CMG) stock fell 4.5% after the restaurant chain posted a 19% drop in quarterly profit, despite a three-fold jump in online sales; the results were hurt by higher beef prices, delivery costs and coronavirus-related expenses.

  • Dow (NYSE:DOW) stock rose 1.5% despite the materials and plastics company reporting third-quarter net loss. Adjusted profit and sales both fell less than expected.

  • Exxon (NYSE:XOM) stock rose 0.3% after the oil giant’s CEO Darren Woods outlined plans to lay off an unspecified number of employees in an email to staff,  as low oil prices drive the company to cut costs.

  • AT&T (NYSE:T) stock rose 3.2% after the telecommunications giant beat revenue expectations, helped by stronger than expected gains in new phone subscribers. 

  • Align (NASDAQ:ALGN) stock soared 27% after the maker of Invisalign, the alternative to metal braces, posted strong earnings, helped by “an uptick in consumer engagement from new social-media influencers like Charli D’Amelio and Marsai Martin.”

  • Southwest Airlines (NYSE:LUV) stock rose 0.7% after the airline said it will burn less cash in the current quarter, after reporting a record loss of over $1 billion in the third quarter. 

  • Kimberly-Clark (NYSE:KMB) stock fell 3.8% after the consumer goods company reported weaker than expected third-quarter earnings, as the pandemic hit sales of toilet tissue and other products to offices.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.