Yahoo Finance Stocks - DR Horton Bucks Falling Trend in Premarket; Alibaba Plunges
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Monday, 27th January. Please refresh for updates.
9:27 AM ET: Airline stocks all tumbled as the spread of the coronavirus disease sparked fears that the global public will shun flying over the coming months. United Airlines (NASDAQ:UAL), American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) were all down by between 3.5% and 4%. Southwest (NYSE:LUV) outperformed marginally, dipping only 2.4%.
9:23 AM ET: Oil company stocks were hit once again as the price of crude tumbled to three-month lows. Exxon Mobil (NYSE:XOM) stock fell was down 1.2%, Chevron (NYSE:CVX) stock was down 1.6%, and shale player Continental Resources (NYSE:CLR) was down 2.6%.
Cheniere Energy (NYSE:LNG), which is hoping to increase shipments of liquefied natural gas to China in the wake of the phase-1 trade deal, fell another 2.6%.
9:20 AM ET: Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) stock was down 2.1% after the Wall Street Journal reported that state attorneys will meet with Justice Department officials to compare notes on their various investigations into the company.
9:14 AM ET: Alibaba (NYSE:BABA) ADRs were down 6.1% on fears for Chinese retail sales after Beijing said it would extend the week-long New Year holiday as part of its efforts to stop the spread of the coronavirus.
Arconic (NYSE:ARNC) stock was down 2.8% after reporting revenue and earnings that were marginally below expectations in the final quarter of 2019. Its guidance for the current year’s earnings was also some 2% below market consensus. The shares have significantly outperformed the S&P 500 over the last 12 months and are arguably vulnerable to profit-taking.
DR Horton (NYSE:DHI) stock was up 0.8%, clearly outperforming major indices that were all down over 1%, after the homebuilder reported earnings and revenue well above consensus. Recent data suggest that housing market activity remains close to multi-year highs thanks to low unemployment and mortgage rates.
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