3 months ago
Stock Market

Stocks - Starbucks, Costco Slump in Premarket; Apple, Merck, Adobe Fall

Investing.com - Stocks in focus in premarket trade Friday: • Starbucks (NASDAQ:SBUX) stock fell 3.75% by 8:04 AM ET (13:04 GMT)

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

• Starbucks (NASDAQ:SBUX) stock fell 3.75% by 8:04 AM ET (13:04 GMT) as the company forecast that same-store sales would remain steady despite its partnership with UberEats in the U.S. and nearly doubling its stores in China.

• Costco (NASDAQ:COST) stock slumped 3.75% after the company announced a decline in gross margins for its fiscal first quarter.

• Adobe (NASDAQ:ADBE) stock slid 1.96% after reporting mixed quarterly earnings and providing earnings guidance for the current quarter that missed analysts’ estimates.

• Apple (NASDAQ:AAPL) stock fell 1.23% as the company announced that it would push software updates in China in an attempt to avoid alleged infringement of Qualcomm (NASDAQ:QCOM) patents.

• Merck & Company (NYSE:MRK) stock lost 1.66% as the company said it would acquire Antelliq Group for €2.1 billion ($2.37 billion).

• Tesla (NASDAQ:TSLA) stock fell 0.74% as its head of digital product, Parag Vaish, resigned to take another job.

• Ford Motor (NYSE:F) stock was little change despite the fact that the company reported that sales in China fell 55% in November.