Investing.com - Stocks in focus in premarket trading on Friday:
• Broadcom (NASDAQ:AVGO) stock slumped 9% by 8:15 AM ET (12:15 GMT) after the chipmaker predicted a slowdown in chip demand and cut its revenue forecast for 2019 by 8%, due largely to the trade conflict between the U.S. and China.
• Blue Apron (NYSE:APRN) stock fell 7.9% after it announced a reverse stock split in order to increase the company’s share price and improve liquidity.
• Facebook (NASDAQ:FB) stock rose 0.9% after the Wall Street Journal reported that the social media giant has gotten the backing of the likes of Visa (NYSE:V), Mastercard (NYSE:MA), PayPal, and Uber (NYSE:UBER) for its cryptocurrency that is being released next week.
• Mattel (NASDAQ:MAT) stock was down 0.7% after rival toymaker MGA Entertainment’s CEO told CNBC that shares of Mattel aren’t worth more than $6. MGA Entertainment has been trying to make a bid for the struggling company but Mattel has declined its offers.
• Tesla (NASDAQ:TSLA) stock tumbled 1.9% after news that its Autopilot head Zeljko Popovic is leaving the company for Embark, a self-driving trucking startup.
•Chewy (NYSE:CHWY) is set to start trading Friday after pricing its IPO at $22 a share late on Thursday. That was above the top end of its marketing range of $19-$21.