By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, October 18th. Please refresh for updates.
Goldman Sachs (NYSE:GS) stock rose 2.8% after the investment bank’s earnings and revenue beat quarterly expectations, also announcing it was reorganizing its business into three units as part of another significant overhaul.
Johnson & Johnson (NYSE:JNJ) stock rose 2% after the U.S. healthcare giant beat expectations for third-quarter sales, helped by strong demand for its cancer drug Darzalex and Crohn's disease drug Stelara.
Hasbro (NASDAQ:HAS) stock fell 4% after the toymaker reported a 28% fall in third-quarter earnings as inflation-hit consumers were further discouraged by price hikes.
Apple (NASDAQ:AAPL) stock rose 1.6% after Bloomberg reported that the iPhone maker is set to announce new 11-inch and 12.9-inch iPad Pro tablets in the coming days, to take advantage of the upcoming holiday season.
Microsoft (NASDAQ:MSFT) stock rose 2.1% after Axios reported that the software giant laid off under 1,000 employees across several divisions this week, less than 1% of its total workforce, cutting costs amid a global economic slowdown.
Intel (NASDAQ:INTC) stock rose 1.4%, helped by the overall positive mood despite the Wall Street Journal reporting that the tech giant is eyeing a valuation that is significantly lower than previously expected for the initial public offering of its self-driving car unit Mobileye.
Eli Lilly (NYSE:LLY) stock rose 0.7% after the drugmaker announced it will acquire genetic medicine developer Akouos in a cash deal worth about $487 million.
Target (NYSE:TGT) stock rose 3.1% after Jefferies upgraded its investment stance on the big box department store chain to ‘buy’ from ‘hold’, citing attractive valuation, supply chain improvements, and inventory positioning.