By Geoffrey Smith
Investing.com — Stocks in focus in premarket trade on Tuesday, 14th January. Please refresh for updates.
8:46 AM ET: GameStop (NYSE:) stock was down 12.9% at a four-month low after reporting late Thursday that sales in the nine-week holiday season fell 28% from a year earlier. Comparable sales were down 25%. The company also forecast a loss for the current fiscal year, when it reports at the end of March.
8:32 AM ET: Citigroup (NYSE:) 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:) stock was down 0.1% after reports that Amazon.com (NASDAQ:) 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:) 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:) 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:) 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.
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