By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, December 9th. Please refresh for updates.
Amazon (NASDAQ:AMZN) stock fell 0.5% after Italy's antitrust watchdog fined the online retail giant over $1 billion for alleged abuse of market dominance, one of the biggest penalties imposed on a U.S. tech giant in Europe.
GameStop (NYSE:GME) stock fell 5% after the troubled video game retailer released another quarterly loss and disclosed a subpoena from the U.S. securities regulator for documents on a probe into its share trading activity.
Pfizer (NYSE:PFE) stock rose 0.4% after Wells Fargo initiated coverage of the drugmaker at ‘overweight’, saying its Covid-19 treatments will continue to generate revenue for some time to come.
CVS Health (NYSE:CVS) stock rose 2.6% after the health insurer said it will return more money to shareholders through higher dividends and a $10 billion buyback while committing to meet at least the top end of its previous estimates for the current year.
Apple (NASDAQ:AAPL) stock fell 0.3%, in line with the day’s overall weakness, despite Morgan Stanley (NYSE:MS) naming the iPhone maker as one of its top stock picks for 2022, seeing 21% upside from plans for smart glasses and self-driving cars.
Hormel (NYSE:HRL) stock rose 1% after the food producer beat quarterly expectations, seeing double-digit growth across all of its business segments.
RH (NYSE:RH) stock rose 11% after the home-furnishing company beat quarterly expectations, prompting it to lift the lower end of its revenue guidance.
Lucid Group (NASDAQ:LCID) stock fell 6.4% after the electric vehicle maker announced a $1.75 billion offering of convertible senior notes.