Delta, Lennar, Darden Restaurants rise premarket; Tesla, Best Buy fall

  • Stock Market News
Delta, Lennar, Darden Restaurants rise premarket; Tesla, Best Buy fall
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Wednesday, December 14th. Please refresh for updates.

  • Delta (NYSE: DAL ) stock rose 4.3% after the airline forecast its profit would nearly double next year, driven by "robust" travel demand and a decline in non-fuel operating costs.

  • Lennar (NYSE: LEN ) stock rose 1.5% after Barclays upgraded its stance on the home construction company to ‘overweight’ from ‘equal weight’, saying the stock can rally more than 25% as the housing market troughs in 2023.

  • Tesla (NASDAQ: TSLA ) stock fell 0.8% after Goldman Sachs cut its 12-month target price on the electric vehicle manufacturer to $235 from $305, while keeping a ‘buy’ rating. The stock closed Tuesday at $160.

  • Apple (NASDAQ: AAPL ) stock fell 0.3% after the tech giant announced plans to allow third-party app stores on the iPhone in Europe to forestall antitrust action against it in the EU, potentially hitting a lucrative revenue stream.

  • Darden Restaurants (NYSE: DRI ) stock rose 1.4% after Wedbush upgraded its stance on the owner of Olive Garden, among other chains, to 'outperform' from 'neutral', expecting market share gains in the difficult climate.
  • Best Buy (NYSE: BBY ) stock fell 3.1% after Bank of America downgraded its stance on the electronics retailer to 'underperform' from 'neutral', citing the challenging environment.
  • Moderna (NASDAQ: MRNA ) stock rose 1.6%, continuing the previous session's strong rally after the pharmaceutical maker reported positive trends from the trial of its vaccine for skin cancer.

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