Stocks - Micron Sinks in Pre-market; Wells Fargo, Tesla Fall; Apple, Walmart Gain

Stocks in focus in pre-market trade on Friday.

Investing.com - Stocks in focus in pre-market trade Friday:

• Micron Technology (NASDAQ:MU) stock slumped 3.69% by 8:10 AM ET (12:10 GMT) after its chief financial officer said the company’s gross margins will suffer due to tariffs between the U.S. and China.

• Walmart (NYSE:WMT) stock inched up 0.04% as the company warned U.S. President Donald Trump in a letter than tariffs may force it to increase prices.

• Wells Fargo (NYSE:WFC) stock lost 0.99% as the bank said it would reduce its workforce by 5% to 10% over the next three years as part of its turnaround plan.

• Apple (NASDAQ:AAPL) stock rose 0.19% as its new iPhone XS and XS Max went on sale globally.

• Tesla (NASDAQ:TSLA) stock fell 0.35% as yet another executive reportedly resigned from the company.

• McDonald’s (NYSE:MCD) stock advanced 0.59% as the company raised its quarterly dividend by 15 cents to $1.16.

• Texas Instruments (NASDAQ:TXN) stock traded up 0.93% as the company increased its quarterly dividend to by 15 cents to $0.77 and announced a $12 billion stock buyback plan.

• Adobe Systems (NASDAQ:ADBE) stock edged forward 0.06% as the company confirmed earlier reports that it will acquire Marketo for $4.75 billion.

• Medtronic (NYSE:MDT) stock slipped 0.08% as the company announced it would buy Mazor Robotics for approximately $1.6 billion in cash.

• Steelcase (NYSE:SCS) soared 14.55% as it reported better-than-expected quarterly results and gave guidance for the current quarter that beat analysts’ estimates.

• United Natural Foods (NASDAQ:UNFI) stock plunged 11.08% as the company’s quarterly results missed consensus on both the top and bottom lines.

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