Tesla, Snap, Novavax and Goldman Sachs fall premarket

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Tesla, Snap, Novavax and Goldman Sachs fall premarket
Credit: © Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, December 15th. Please refresh for updates.

  • Tesla (NASDAQ: TSLA ) stock fell 1.6% after filings showed CEO Elon Musk sold another $3.6 billion in stock in recent days, taking his total to near $40B this year.

  • Goldman Sachs (NYSE: GS ) stock fell 0.9% after reports that the investment bank will cut its bonus pool by as much as half this year, reflecting the problems it has faced with higher volatility and lower capital market activity.

  • Snap (NYSE: SNAP ) stock fell 2.3% after Jefferies downgraded its stance on the social media company to ‘neutral’ from ‘buy’, saying revenues estimates are “too optimistic” given the macro uncertainties.

  • Western Digital (NASDAQ: WDC ) stock fell 5.3% after Goldman Sachs downgraded the data storage company to ‘sell’ from ‘neutral’, citing a looming downturn in the memory industry.

  • Lennar (NYSE: LEN ) stock fell 2.9% after the homebuilder forecast a slowdown in new orders for the first quarter as a result of high mortgage rates.
  • Novavax (NASDAQ: NVAX ) stock fell over 12% after the drug maker proposed $250 million in stock and debt offerings.
  • AT&T (NYSE: T ) stock fell 1.4% after Morgan Stanley downgraded its stance on the telecoms giant to 'equal-weight' from 'overweight', predicting slower growth in 2023.

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