
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, December 16th. Please refresh for updates.
Adobe (NASDAQ:ADBE) stock rose 5% after the software company recorded 10% growth in fourth-quarter revenues and forecast healthy first-quarter profit as demand remained strong.
Meta Platforms (NASDAQ:META) stock rose 2% after JPMorgan upgraded its stance on the Facebook owner to ‘overweight’ from ‘neutral’, saying top and bottom-line pressures will ease in 2023.
General Motors (NYSE:GM) stock fell 1% after U.S. auto safety regulators formally opened a safety probe into the autonomous driving system in vehicles produced by the auto giant’s robotaxi unit Cruise LLC.
General Electric (NYSE:GE) stock fell 1% after France’s financial prosecutor confirmed that searches were conducted at the U.S conglomerate's Belfort site as part of an ongoing probe into possible tax fraud.
Alibaba (NYSE:BABA) stock rose 2.4% and Baidu (NASDAQ:BIDU) stock rose 1% after the U.S. accounting watchdog said it has full access to inspect and investigate firms in China, removing the risk that these companies could be removed from U.S. stock exchanges.
Coinbase (NASDAQ:COIN) stock fell 1.8% with the cryptocurrency exchange platform hit by more selling in the asset class on fresh doubts about the reliability of reserve figures provided by rival Binance.
Accenture (NYSE:ACN) stock fell 1.4% after the professional services company disappointed with its second-quarter revenue forecast, even as revenue grew 5% in the quarter ending Nov. 30 as IT spending held strong.
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