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.
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