Tesla, Victoria's Secret, Quidel Rise Premarket; Cal-Maine Falls

·1 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, December 29th. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock rose 1.1% after CEO Elon Musk exercised all of his options expiring next year, signaling an end to his stock sales.

JD.com (NASDAQ:JD) ADRs fell 0.2% after the China-based online retail giant announced it would boost its share buyback plan by 50%, now spending up to $3 billion on buying back its shares. The company also said it has taken on a five-year, $2 billion loan to fund its green projects and other corporate purposes.

Quidel (NASDAQ:QDEL) stock rose 1.4% after the company said its testing kits are able to detect Omicron, the current dominant coronavirus variant.

Delta Air Lines (NYSE:DAL) stock fell 0.7% and Alaska Air (NYSE:ALK) stock fell 0.8% after both airlines canceled hundreds of flights on Tuesday, weighed by the rise in Covid cases.

Alibaba (NYSE:BABA) stock fell 0.9% following a Bloomberg report that stated the China-based e-commerce giant is considering the sale of its 30% stake in social media advertising company Weibo (NASDAQ:WB), down 0.8%, to state-owned Shanghai Media Group.

Cal-Maine Foods (NASDAQ:CALM) stock fell 7.3% after the egg producer disappointed with its quarterly profit, higher labor and packaging costs.

Victoria's Secret (NYSE:VSCO) stock rose 10% after the lingerie retailer announced a $250 million accelerated share repurchase program.

FuelCell Energy (NASDAQ:FCEL) stock fell over 12% after the fuel cell producer reported a larger quarterly loss than expected, while revenues fell to just under $14 million from $17 million a year ago.

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