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Ford, Nike, Western Digital Fall Premarket; Boeing, Cognex Rise

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, September 20th. Please refresh for updates.

Ford (NYSE:F) stock fell 4% after the auto giant said late Monday that inflation-related supplier costs will run about $1 billion higher than expected in the current quarter and estimates it will have 40,000 to 45,000 vehicles in inventory lacking parts, which will delay sales.

Boeing (NYSE:BA) stock rose 2.2% after China's aviation regulator held a meeting with the aircraft manufacturer last week about the return of the 737 MAX to the country. The jet has not flown commercially in China since March 2019, when it was grounded after two fatal crashes.

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Nike (NYSE:NKE) stock fell 2.4% after Barclays downgraded its stance on the sports apparel retailer to ‘equal weight’ from ‘overweight’, citing a slew of challenges facing the company as it heads into next week’s earnings report.

Cognex (NASDAQ:CGNX) stock rose 4.3% after the manufacturer of machine vision systems raised its revenue guidance for the third quarter, citing faster-than-expected demand fulfillment.

UnitedHealth (NYSE:UNH) stock rose 0.3% after a court ruling that bolstered its case for the $13 billion takeover of Change Healthcare (NASDAQ:CHNG), up 7.5%, which the Biden Administration is resisting on antitrust grounds.

Morgan Stanley (NYSE:MS) stock fell 0.2% after the lender agreed to pay $35 million to settle Securities and Exchange Commission charges it repeatedly failed to safeguard personal information for millions of customers.

Goldman Sachs (NYSE:GS) stock fell 0.2% after Bloomberg reported that the investment bank has laid off at least 25 bankers in Asia, as volatility in capital markets stifles deal-making across sectors.

Western Digital (NASDAQ:WDC) stock fell 1.6% after Deutsche Bank downgraded its stance on the computer hard disk drive manufacturer to ‘hold’ from ‘buy’, citing softening demand and supply chain issues.

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