By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, September 26th. Please refresh for updates.
Amazon (NASDAQ:AMZN) stock fell 0.6% after the online retail giant announced plans to hold a sale for its loyalty-club shoppers, starting on Oct. 11, to boost holiday revenue and appeal to cost-conscious buyers facing economic turbulence.
Apple (NASDAQ:AAPL) stock fell 0.5%, falling in line with the general market, despite the tech giant saying it will manufacture its latest iPhone 14 in India, moving some of its production away from China.
PG&E (NYSE:PCG) stock rose 3.8% after S&P Dow Jones Indices announced on Friday that the utility will join the benchmark S&P 500 index on Oct. 3, replacing Citrix Systems (NASDAQ:CTXS), down 1.7%.
Las Vegas Sands (NYSE:LVS) stock rose 6.8%, Wynn Resorts (NASDAQ:WYNN) stock rose 5% and MGM Resorts (NYSE:MGM) stock rose 2.3% after Macau authorities said China would resume an e-visa scheme for mainland travelers and permit group tours, likely increasing footfall at the gambling resort.
Li Auto (NASDAQ:LI) stock fell 2.5% after the Chinese electric vehicle manufacturer cut its delivery outlook for the third quarter, citing “supply chain constraints”.
Lyft (NASDAQ:LYFT) stock fell 3.7% after UBS downgraded its investment stance on the ride-hailing company to ‘neutral’ from ‘buy’, saying its survey suggests drivers prefer main rival Uber (NYSE:UBER).
Planet Fitness (NYSE:PLNT) stock rose 4.3% after Raymond James upgraded its stance to ‘strong buy’ from ‘market perform’, citing a low valuation as well as a recession-resistant business.