Investing.com – Stocks in focus in premarket trade Friday:
· Oracle (NYSE:) stock slumped 3.7% by 8:15 AM ET (12:15 GMT) after CEO Safra Catz said revenue could fall as much as 2% in the current quarter, which would make it the fourth-straight quarterly decline, highlighting its struggle to keep up in the key growth area of cloud services.
· Facebook (NASDAQ:) stock lost 1.6% after news that Chris Cox, the company’s chief product officer, is leaving due to disagreements with Mark Zuckerberg over his plan to focus the company on encryption messaging services.
. Tesla (NASDAQ:) stock was down 3% as questions remained over the launch of its mid-size electric SUV, including where it will be manufactured.
· Diplomat Pharmacy dropped 13.5% after its fourth-quarter earnings came in lower than expected. It reported a loss of $4.00 per share on revenue of $1.36 billion, much wprse than the $0.23 per share profit expected.
· Adobe (NASDAQ:) stock fell3.7% after it issued lower-than-expected guidance for the quarter.
· Amazon.com (NASDAQ:) stock rose 1% after KeyBanc upgraded the company to overweight from sector weight, according to CNBC.
· Apple (NASDAQ:) stock inched up 0.7% as the company responded to Spotify’s complaint that it limits rivals to its own streaming music service. Apple said it has approved nearly 200 updates on Spotify’s app and only requested changes when it sidestepped Apple’s platform rules.
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