PG&E, Las Vegas Sands, Planet Fitness Rise Premarket; Li Auto, Lyft Fall
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US500
-1.72%
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WYNN
-0.90%
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AAPL
-1.51%
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CTXS
-0.06%
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AMZN
-3.01%
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MGM
-1.83%
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PCG
-2.70%
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LVS
+0.51%
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PLNT
-2.77%
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UBER
-2.66%
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LYFT
-4.77%
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LI
+3.18%
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By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, September 26th. Please refresh for updates.
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Amazon (NASDAQ:AMZN) stock fell 0.6% after the online retail giant announced plans to hold a sale for its loyalty-club shoppers, starting on Oct. 11, to boost holiday revenue and appeal to cost-conscious buyers facing economic turbulence.
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Apple (NASDAQ:AAPL) stock fell 0.5%, falling in line with the general market, despite the tech giant saying it will manufacture its latest iPhone 14 in India, moving some of its production away from China.
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PG&E (NYSE:PCG) stock rose 3.8% after S&P Dow Jones Indices announced on Friday that the utility will join the benchmark S&P 500 index on Oct. 3, replacing Citrix Systems (NASDAQ:CTXS), down 1.7%.
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Las Vegas Sands (NYSE:LVS) stock rose 6.8%, Wynn Resorts (NASDAQ:WYNN) stock rose 5% and MGM Resorts (NYSE:MGM) stock rose 2.3% after Macau authorities said China would resume an e-visa scheme for mainland travelers and permit group tours, likely increasing footfall at the gambling resort.
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Li Auto (NASDAQ:LI) stock fell 2.5% after the Chinese electric vehicle manufacturer cut its delivery outlook for the third quarter, citing “supply chain constraints”.
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Lyft (NASDAQ:LYFT) stock fell 3.7% after UBS downgraded its investment stance on the ride-hailing company to ‘neutral’ from ‘buy’, saying its survey suggests drivers prefer main rival Uber (NYSE:UBER).
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Planet Fitness (NYSE:PLNT) stock rose 4.3% after Raymond James upgraded its stance to ‘strong buy’ from ‘market perform’, citing a low valuation as well as a recession-resistant business.