Stocks - Macy’s, Tech Data Rise Premarket; Facebook Falls

Investing.com

Fri, Nov 29, 2019, 3:46 AM

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

• Retail stocks were on watch in premarket trade by 8:40 AM ET (13:40 GMT) as the biggest shopping day of the year kicked-off. Macy’s (NYSE:M) stock gained 0.5% in premarket trade and Foot Locker (NYSE:FL) stock was up 1% while Walmart Inc (NYSE:WMT) and Amazon.com (NASDAQ:AMZN) were also in focus. Early data from Adobe (NASDAQ:ADBE) suggests that online sales will rise about 19% from a year ago.

• Pacific Gas & Electric Co (NYSE:PCG) stock fell 2.5% after a judge ruled that the California utility can be held liable for damage caused by its power lines, making it easier for wildfire victims to secure compensation from PG&E’s role in the devastating wildfires last year.

• Facebook (NASDAQ:FB) stock inched down 0.2% after an outage on Thanksgiving lasted several hours and prevented access to its Facebook, Instagram, and Messenger platforms.

• Chevron (NYSE:CVX) stock was in focus after news that it is selling its stake in two Nigerian offshore oil and gas blocks as it moves its focus to U.S.-based production.

• Tech Data Corporation (NASDAQ:TECD) stock jumped 12% after it agreed to a takeover bid from private-equity firm Apollo Global in a deal worth $5.14 billion excluding debt, or $145 per share.

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Stocks - Macy’s, Tech Data Rise Premarket; Facebook Falls

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