Investing.com – Stocks in focus in premarket trading on Wednesday:
• Tyson Foods (NYSE:) stock fell 5.6% in premarket trade by 8:15 AM ET (12:15 GMT) after it cut its full-year earnings forecast to $5.30 to $5.70 per share due to the impact of a fire at one of its key poultry factories.
• JetBlue Airways (NASDAQ:) stock fell 2.7% after the air carrier cut its third-quarter revenue per available seat mile due to weaker demand. The company said it now expects RASM in the third quarter to fall to negative 2.0% to flat.
• Apple (NASDAQ:) stock was up 1.4% after reported that the company is planning to introduce a cheaper iPhone in the spring to address its declining market share.
• Activision Blizzard (NASDAQ:) stock jumped 2.8% after BMO Capital upgraded the gaming stock to outperform, according to StreetInsider.
• Michaels (NASDAQ:) stock surged 20% after the arts and craft retailer’s earnings came in better than expected, as comparable-store sales rose 0.3%.
• Tapestry (NYSE:), the parent company of Coach and Kate Spade, rose 2.5% after it named Chairman Jide Zeitlin as CEO.
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