By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, January 21st. Please refresh for updates.
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United Airlines (NASDAQ:UAL) stock fell 1.8% after the troubled airline reported a net loss of $2.1 billion in the fourth quarter, compared with a profit of $676 million a year earlier. It also warned sales would continue to suffer in the early part of 2021 as the coronavirus pandemic drags on.
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Tesla (NASDAQ:TSLA) stock rose 0.6% after the electric car manufacturer’s vehicle registrations in the state of California jumped nearly 63% during the fourth quarter compared with last year, largely due to the success of the company's Model Y, according to data from Cross-Sell.
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Kinder Morgan (NYSE:KMI) stock rose 2.6% after the pipeline operator beat expectations on both the top and bottom lines, although it also raised concerns about spending by shale producers.
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Baker Hughes (NYSE:BKR) stock rose 1.3%, with the oil services group helped by revenue beating quarterly expectations even if it reported a loss. The company said it was now well-positioned for the current environment.
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Discover Financial (NYSE:DFS) stock fell 1% after the financial services company pointed to an increase in credit losses during the second half of this year.
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Travelers (NYSE:TRV) stock rose 2.4% after the insurer reported a jump in quarterly profit, helped by an increase in returns from investments and lower catastrophe claims.
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Ford Motor Company (NYSE:F) stock rose 4%, continuing to climb after Deutsche Bank lifted its price target, adding the automaker to its short-term-buy list.
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Citigroup (NYSE:C) stock dropped 0.1% after the banking giant announced it will reduce bonuses for many of its top executives after the bank was reprimanded by regulators last year for failing to properly maintain risk-management procedures.
- PayPal (NASDAQ:PYPL) stock rose 1.2% after BTIG upgraded its investment stance on the online payments company to ‘buy’ from ‘neutral’, citing the benefits from the shift toward digital payments.