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Tesla, Bed Bath & Beyond rise premarket; Ichor, CarMax and Salesforce fall

Investing.com
·1-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, January 11th. Please refresh for updates.

Tesla (NASDAQ:TSLA) stock rose 1.7% after the electric car manufacturer applied to expand its gigafactory in Texas with an investment totaling $775.7 million, marking one of its largest expansion drives since setting up the $5.5B gigafactory in Germany last year.

Ichor Holdings (NASDAQ:ICHR) stock fell 11% after the semiconductor equipment maker warned of a revenue miss for the final quarter of last year, as well as difficulties in the first quarter of the new year.

CarMax (NYSE:KMX) stock fell 2.2% after JPMorgan downgraded its stance on the used car company to ‘underweight’ from ‘neutral’, saying hopes for a recovery look “premature”.

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American Airlines (NASDAQ:AAL) stock fell 0.3%, Delta Air Lines (NYSE:DAL) stock fell 0.1% and Southwest Airlines (NYSE:LUV) stock dropped 1.6% after the U.S. FAA grounded all U.S. flights due to a system outage.

Bed Bath & Beyond (NASDAQ:BBBY) stock rose over 26% after short-sellers closed out short positions at this troubled retailer despite bleak quarterly results.

Xpeng (NYSE:XPEV) stock fell 0.5% after JPMorgan downgraded its stance on the Chinese electric vehicle manufacturer to ‘neutral’ from ‘overweight’ following China's decision to end a more than a decade-long subsidy for EV purchases.

Salesforce (NYSE:CRM) stock fell 2.9% after Bernstein downgraded its stance on the company to 'underperform' from 'market perform', saying the stock could fall nearly 20%.

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