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Travelers, Alcoa Rise in Premarket; United Falls on Weak Forecast

Investing.com
·2-min read

By Geoffrey Smith

Investing.com -- Stocks in focus in premarket trading on Thursday, 20th January. Please refresh for updates.

Beyond Meat (NASDAQ:BYND) stock rose 1.3% on reports that its joint venture Pepsico (NASDAQ:PEP) has borne fruit, in the form of a vegan jerky snack. United Airlines stock fell 1.1% after the company predicted its capacity will stay below pre-pandemic levels all year, while American Airlines (NASDAQ:AAL) stock rose 1.4% after posting a narrower loss than expected and confining its pessimism only to the first quarter. Travelers (NYSE:TRV) stock rose 3.7% after reporting a quarter in which record investment returns more than offset a hit from catastrophe-related claims Union Pacific (NYSE:UNP) stock rose 0.6% after the railroad operator said its profit rose 24% on the year due to higher shipments of industrial products, metals and lumber. Baker Hughes stock rose 1.4% after the oilfield services company returned to an adjusted profit in the fourth quarter. Its clients are starting to drill more as oil prices hit their highest level in seven years. Amazon (NASDAQ:AMZN) stock rose 0.6% after news that it will open its first clothing store in California. The news didn’t appear to have any real impact on rival fashion chains, despite fresh evidence of Amazon encroaching on their turf. Ford stock fell 1.9% after Jefferies analysts downgraded it to neutral on valuation grounds. The stock has rallied strongly since the company updated its plans for electrification at the start of the year, but fell over 7% on Wednesday. Alcoa (NYSE:AA) stock rose 2.6% after swinging to an adjusted profit in the fourth quarter, helped by strong prices for aluminum and alumina. The company also issued its first cash dividend since its restructuring. Casper Sleep (NYSE:CSPR) stock rose another 13% after shareholders voted to take the company private, after an altogether unsatisfactory experience of public capital markets. The stock closed on Wednesday more than 50% below its IPO price.

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