U.S. Markets closed

Stocks - Apple, Broadcom, Barnes & Noble Rise Premarket; Beyond Meat Falls

Investing.com - Stocks in focus in premarket trading on Tuesday:

• Apple (NASDAQ:AAPL) stock rose 1.2% by 8:15 AM ET (12:15 GMT) after Bloomberg reported that its primary manufacturing partner in Taiwan has enough capacity to make all U.S.-bound iPhones outside of China, should U.S.-China trade tensions get out of hand.

• Tesla (NASDAQ:TSLA) stock gained 2.3% ahead of the electric car maker’s annual shareholder meeting at 5:30 PM ET (21:30 GMT).

•Intel (NASDAQ:INTC) stock inched up 0.9% after news that it is buying startup Barefoot Networks in a bid to compete with Broadcom (NASDAQ:AVGO) in Ethernet technology.

• Advanced Micro Devices (NASDAQ:AMD) stock jumped 2% adding to Monday's surge to a 13-year high after Microsoft (NASDAQ:MSFT) announced that its next generation of Xbox will run on AMD chips, rather than Nvidia's (NASDAQ:NVDA).

• Broadcom (NASDAQ:AVGO) stock jumped 3.5% after news that the chipmaker has entered into a two-year supply deal with Apple to provide radio-frequency, front-end component and modules for various Apple products.

• Beyond Meat (NASDAQ:BYND) stock slumped 10.4% after JP Morgan downgraded the stock to “neutral” from “overweight” as the stock is “beyond our price target” of $120, CNBC reported.

• Barnes & Noble (NYSE:BKS) stock rose 3.5% after the Wall Street Journal reported that book distributor Readerlink is working to outbid Elliot Management’s deal to acquire the company for $475 million in cash.

Related Articles

U.S. stock futures gain on China stimulus, tariff relief

India seeks bans for Deloitte, KPMG arm for alleged auditing lapses

SNC-Lavalin appoints Ian Edwards as interim president, CEO