By Geoffrey Smith
Investing.com — Stocks in focus in premarket trading on Tuesday, 11th October. Please refresh for updates.
- Zscaler (NASDAQ: ZS) stock was down 3.0% after the cybersecurity firm said its president Amit Sinha has resigned to move to another tech company as chief executive. He’ll remain on Zscaler’s board of directors. however.
- KLA-Tencor (NASDAQ: KLAC) stock fell 2.4% after the chipmaking equipment and services company was reported by Reuters to be halting some activities in China to comply with U.S. export controls.
- Intel (NASDAQ: INTC) stock fell 0.2%, while AMD (NASDAQ: AMD) stock fell 0.6% after data showing global PC shipments slumped nearly 20% year-on-year in the third quarter, as the pandemic binge on electronics faded.
- Coinbase (NASDAQ: COIN) stock rose 5.2% after Google Cloud (NASDAQ: GOOGL) said it had tapped the exchange to process payments with cryptocurrencies from its users. It will also use Coinbase’s custody services.
- Tesla (NASDAQ: TSLA) stock fell 0.4% despite a report on a fansite calculating that sales were up 63% year-on-year in the third quarter, ahead of its annual target.
- Rivian Automotive (NASDAQ: RIVN) stock was down 0.4%, steadying after Monday’s 7% decline on the back of a mass recall.
- Meta Platforms (NASDAQ: META) stock fell 1.0% after analysts at Atlantic Equities downgraded the Facebook and Instagram owner to Neutral from Overweight with a new price target of $160 per share, saying that its growth model is “increasingly challenged” by macro headwinds and rising competition for advertising dollars.