Nike, Rent-A-Center Fall Premarket; Amylyx, Micron and Meta Platforms Rise

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, September 30th. Please refresh for updates.

• Nike (NYSE:NKE) stock fell over 11% after the world’s largest sportswear maker cautioned that gross margins would remain under pressure through the year.

• Meta Platforms (NASDAQ:META) stock rose 0.3% after the Facebook-owner announced it will freeze hiring and look to cut costs, addressing an increasingly pressing cost problem.

• Tesla (NASDAQ:TSLA) stock rose 0.2% with the company CEO Elon Musk set to unveil a prototype humanoid robot at the company’s “AI Day”, and may also discuss the electric car maker's long-delayed self-driving technology.

• Amylyx Pharmaceuticals (NASDAQ:AMLX) stock rose 8.7% after the U.S. FDA approved its drug to treat a fatal neurodegenerative condition commonly known as Lou Gehrig's disease.

• Altria (NYSE:MO) stock rose 0.4% after the tobacco giant announced it has exercised the option to be released from its non-competition obligations with troubled vaping company Juul.

• Micron Technology (NASDAQ:MU) stock rose 1.4% after the chipmaker forecast strong revenue growth in the second half of fiscal 2023 even after warning of tougher times ahead and said it was cutting its investments.
• Voya Financial (NYSE:VOYA) stock rose 1.2% after Piper Sandler upgraded its stance on the financial services company to 'overweight' from 'neutral', citing an attractive valuation.
• Rent-A-Center (NASDAQ:RCII) stock fell 17% after the rent-to-own company cut its current quarter earnings guidance, citing the current macro economic conditions.