By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, January 18th. Please refresh for updates.
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United Airlines (NASDAQ:UAL) stock rose 3.6% after the carrier reported strong fourth quarter numbers on robust travel demand and also forecast at least a four-fold jump in full-year profit for this year.
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Moderna (NASDAQ:MRNA) stock rose 7.7% after the drugmaker said its vaccine for respiratory syncytial virus is effective with older adults, and it expects to file an application for approval with the FDA in the first half of this year.
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Morgan Stanley (NYSE:MS) stock fell 0.6% after Citigroup downgraded its stance on the investment bank to 'neutral' from 'buy', saying the upside is now limited after its earnings beat.
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Coinbase (NASDAQ:COIN) stock fell 1.2% after the crypto exchange platform announced it was closing operations in Japan, the latest stage of a deep retrenchment following the collapse of crypto values last year.
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Microsoft (NASDAQ:MSFT) stock rose 0.4% following reports the tech giant plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions.
- IBM (NYSE:IBM) stock fell 1.9% after Morgan Stanley downgraded its stance on "Big Blue" to 'equal weight' from 'overweight', citing slowing revenue growth.
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CrowdStrike (NASDAQ:CRWD) stock rose 1.6% after BMO initiated coverage on the cybersecurity technology company with an 'outperform' rating, seeing it becoming a bigger player in the sector.
- Levi Strauss (NYSE:LEVI) stock fell 1.8% after Bank of America downgraded the jeans retailer to 'neutral' from 'buy', saying upside is difficult to see given the slowing demand for denim.