Stocks – Roku Slumps Premarket; Fiat Chrysler, Amazon Rise
Investing.com – Stocks in focus in premarket trading on Monday:
•Walt Disney Company (NYSE:) stock was up 0.4% in premarket trade by 8:20 AM ET (13:20 GMT) after its “Frozen 2” movie set a Thanksgiving weekend record for ticket sales, taking in $123.7 million in North America. It’s now taken nearly $739 million in two weeks since opening.
• Roku (NASDAQ:) stock slumped 7.2% after Morgan Stanley (NYSE:) downgraded the video streaming device maker to “underweight” from “equal-weight” citing possible slowing growth in 2020. The shares have more than quadrupled this year as the offering of streaming services has proliferated.
• Fiat Chrysler (NYSE:) stock inched up 0.3% after reaching a tentative four-year deal with the United Auto Workers union.
• Wells Fargo & Company (NYSE:) stock was flat after it was downgraded to “underperform” from “market perform” at Raymond James, citing expectations that its revenue will shrink in 2020.
• Retail stocks continued to be in focus, as Cyber Monday rounds off the first wave of holiday season promotions. Amazon.com (NASDAQ:) gained 0.3%.
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