Investing.com - Stocks in focus in premarket trade Wednesday:
· Google (NASDAQ:GOOGL) parent company Alphabet’s stock fell 0.1% by 8:15 AM ET (12:15 GMT) after news that the European Union hit the company with a $1.7 billion antitrust fine for blocking ad rivals.
· FedEx (NYSE:FDX) stock slumped 6.5% after its earnings missed estimates and it cut its 2019 forecasts due to the slowdown in global trade growth.
. Anheuser Busch-Inbev (BR:ABI) stock slipped 0.7% on news that it is changing up its board, with two representatives of private equity group 3G Capital departing.
· Tencent Music lost 5.2% after posting a loss of $130 million in its first quarterly results since going public.
· BlackRock (NYSE:BLK) stock inched down 0.3% as the company announced it is slashing the fee for its largest equity fund for institutional investors, the iShares S&P 500 Index Fund.
· General Mills (NYSE:GIS) gained 4.5% after announcing earnings that were higher than expected and raising its full-year forecast. The company reported earnings per share of $0.83 on $4.2 billion of revenue as organic net sales grew by 1%.
· Pfizer (NYSE:PFE) stock rose 0.2% after the pharmaceutical company announced it had acquired a 15% stake in gene therapy developer Vivet Therapeutics.