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Stocks - Alphabet, Tesla, Apple Fall Premarket Amid Trade Fears

2019-05-20 20:54    Investing

Stocks - Alphabet, Tesla, Apple Fall Premarket Amid Trade Fears Stock News

Stocks in focus in premarket trading on Monday:

• Alphabet (NASDAQ:GOOGL) stock was down 1.3% by 8:15 AM ET (12:15 GMT) on news that it suspended business with Chinese tech giant Huawei after the White House blacklisted the company.

• Apple (NASDAQ:AAPL) fell 2.4% amid fears that it could be targeted by Chinese authorities for retaliatory trade measures. Unconfirmed reports alleged Beijing may temporarily raise import tariffs on its goods.

• Tesla (NASDAQ:TSLA) stock slumped 4.4% after an analyst report at Wedbush raised concerns about demand for its Model 3, CNBC reported. The company is struggling with ongoing concerns about its financial sustainability and is also vulnerable to Chinese trade countermeasures, given that China is the world's biggest market for electric vehicles.

• Lyft (NASDAQ:LYFT) stock fell 2.4% after the ride-sharing company was sued by investors over its initial public offering. The suit says Lyft misled investors over its market position.

• Boeing (NYSE:BA) stock slipped 1% after it found it couldn’t accurately replicate in a flight simulator the conditions that caused two fatal crashes involving the aircraft model.

• Target (NYSE:TGT) stock fell 0.1% after rising earlier on news that Morgan Stanley (NYSE:MS) upgraded the company to equal-weight from underweight, according to CNBC.

• Qudian (NYSE:QD) stock surged 4.9% after the Chinese online lender posted strong earnings, with its outstanding loan balance increasing by 91.2% from a year earlier and revenue rising by 22.2%.

StockShinzo Abe

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