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Stocks - Roku, General Motors Fall Premarket; Etsy Rises

Investing.com
Updated

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

• Beyond Meat (NASDAQ:BYND) stock was up 0.3% in premarket trade by 8:20 AM ET (12:20 GMT) after reports that the plant-based meat alternative company hired Sanjay Shah as its chief operating officer. Shah was previously senior vice president at Tesla’s solar division.

• Roku (NASDAQ:ROKU) stock slumped 5.9% to $125.96 after it was rated as ‘sell’ in new coverage by Pivotal Research, citing increasing competition in the streaming device business that will drive costs of devices to zero and put pressure on advertising revenue. Meanwhile, Oppenheimer raised its target price on Roku to $155 a share from $120 a share.

• General Motors (NYSE:GM) stock slipped 0.6% as a strike by its workers entered its third day after the United Auto Workers union said many issues remain unresolved.

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• Texas Instruments (NASDAQ:TXN) stock inched up 0.5% after it raised its quarterly dividend by 17%, to $0.90 from $0.77 a share.

• Alphabet (NASDAQ:GOOGL) stock rose 0.3% after it announced that its Google unit is investing $3.3 billion over the next two years to expand its European data centers.

• Etsy (NASDAQ:ETSY) stock jumped 2.8% after it was upgraded to ‘outperform’ from ‘sector perform’ at RBC Capital Markets due to the positive impact of online marketplace’s most recent initiatives.

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