1 month ago
Stock Market

Stocks - Kraft Tumbles in Premarket, Tesla, Apple, Zillow Gain, Dropbox Sinks

Investing.com - Stocks in focus in premarket trade Friday: • Kraft Heinz (NASDAQ:KHC) stock tumbled 24.68% by 8:10 AM ET (13:10

Investing.com - Stocks in focus in premarket trade Friday:

• Kraft Heinz (NASDAQ:KHC) stock tumbled 24.68% by 8:10 AM ET (13:10 GMT) after the company wrote down the value of its Kraft and Oscar Mayer trademarks by $15.4 billion, the centerpiece of a broadly disappointing earnings update. It also disclosed that it is being investigated by the Securities Exchange Commission for its accounting practices and internal controls.

Roku Inc (NASDAQ:ROKU) stock jumped 6.49% after the company reported quarterly results that topped consensus on the top and bottom lines.

• Zillow (NASDAQ:ZG) stock last gained 2.88% amid volatile trading after its chief executive and co-founder Spencer Rascoff stepped down, with another co-founder, Rich Barton, reportedly ready to return to the CEO position. The company’s revenue guidance for the current quarter also topped estimates.

• Tesla (NASDAQ:TSLA) stock gained 0.90% as the company’s Model 3 deliveries to China began ahead of schedule.

• Apple (NASDAQ:AAPL) stock advanced 0.43% as the company teamed up with Ant Financial Services to offer interest-free financing on iPhone purchases in China.

• Ford Motor (NYSE:F) stock slipped 0.231% as the company said it hired outside help to investigate possible problems with fuel economy and emissions tests.

• Dropbox (NASDAQ:DBX) stock sank 6.41% after the company forecast a decline in operating margins.

Citigroup (NYSE:C) stock traded up 1.06% as analysts at Jefferies upgraded the stock to buy from hold, according to CNBC.

• Extraction Oil & Gas (NASDAQ:XOG) soared 18.11% after its quarterly profit smashed analysts’ expectations.

• Hewlett Packard Enterprise (NYSE:HPE) stock rose 1.66% after the company reported fiscal first-quarter profit that beat consensus.