By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, September 30th. Please refresh for updates.
Nike (NYSE:NKE) stock fell over 11% after the world’s largest sportswear maker cautioned that gross margins would remain under pressure through the year.
Meta Platforms (NASDAQ:META) stock rose 0.3% after the Facebook-owner announced it will freeze hiring and look to cut costs, addressing an increasingly pressing cost problem.
Tesla (NASDAQ:TSLA) stock rose 0.2% with the company CEO Elon Musk set to unveil a prototype humanoid robot at the company’s “AI Day”, and may also discuss the electric car maker's long-delayed self-driving technology.
Amylyx Pharmaceuticals (NASDAQ:AMLX) stock rose 8.7% after the U.S. FDA approved its drug to treat a fatal neurodegenerative condition commonly known as Lou Gehrig's disease.
Altria (NYSE:MO) stock rose 0.4% after the tobacco giant announced it has exercised the option to be released from its non-competition obligations with troubled vaping company Juul.
Micron Technology (NASDAQ:MU) stock rose 1.4% after the chipmaker forecast strong revenue growth in the second half of fiscal 2023 even after warning of tougher times ahead and said it was cutting its investments. Voya Financial (NYSE:VOYA) stock rose 1.2% after Piper Sandler upgraded its stance on the financial services company to 'overweight' from 'neutral', citing an attractive valuation. Rent-A-Center (NASDAQ:RCII) stock fell 17% after the rent-to-own company cut its current quarter earnings guidance, citing the current macro economic conditions.