By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, December 17th. Please refresh for updates.
FedEx (NYSE: FDX ) stock rose 5.5% after the delivery company reinstated its original fiscal 2022 forecast late Thursday, having negotiated persistent labor challenges with a relative degree of success during its peak holiday season.
Oracle (NYSE: ORCL ) stock fell 5.1% after the WSJ reported that the enterprise software company could pay as much as $30 billion, its largest acquisition to date, to buy Cerner (NASDAQ: CERN ), an electronic-medical-records company. Cerner stock rose 16%.
Darden Restaurants (NYSE: DRI ) stock fell 3.6% after the owner of Olive Garden announced the planned retirement of CEO Gene Lee; that overshadowed the fact that it raised its forecasts for fiscal 2022 on solid quarterly results.
Winnebago (NYSE: WGO ) stock rose 4.1% after the recreational vehicle manufacturer beat quarterly profit and revenue expectations, as the company benefited from the Covid-19 pandemic skewing tourism spending to domestic vacation opportunities.
Rivian (NASDAQ: RIVN ) stock fell 8.4% after the electric vehicle manufacturer reported a hefty net loss in its first quarterly results as a public company, and also said its expected production would fall short of its 2021 target, an inauspicious omen for its ambitious plans to scale up production much more next year.
General Motors (NYSE: GM ) stock fell 3.6% after the auto giant announced that Dan Ammann, the chief executive of its self-driving car subsidiary Cruise, is leaving with immediate effect. This comes just as the company is preparing to receive approvals to operate a self-driving car service in San Francisco.
Starbucks (NASDAQ: SBUX ) stock fell 1.4% after Baird downgraded its stance on the coffee chain to ‘neutral’ from ‘outperform’, warning of uncertainty over its business in China as well as rising costs.
Meta Platforms (NASDAQ: FB ) stock fell 1.3%, following the tech sector lower, and weighed by the news that around 50,000 Facebook users have been targeted by private surveillance companies.
U.S. Steel (NYSE: X ) stock fell 5.1% after the steel producer issued disappointing guidance for the current quarter, citing higher expenses and cautious customer buying patterns.
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