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Stocks - Tesla, Netflix, American Express Slide in Premarket, CVS Jumps

Investing.com

Investing.com - Stocks in focus in premarket trade Friday:

• Tesla TSLA) stock tumbled 6.86% by 8:17 AM ET (13:17 GMT) after Chief Executive Elon Musk said he was cutting its full-time workforce by 7% in order to lower operating costs.

• Netflix (NASDAQ:NFLX) stock slid 3.06% as the company’s quarterly revenue missed consensus and its first-quarter earnings guidance was well below analysts’ expectations.

• American Express (NYSE:AXP) stock traded down 2.10% after the company reported worse-than-expected profit for the fourth quarter.

• CVS Health (NYSE:CVS) stock jumped 2.26% after it reached an agreement for Walmart (NYSE:WMT) to remain part of the company’s network for commercial and Medicaid pharmacy customers.

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• Fossil Group Inc (NASDAQ:FOSL) stock gained 1.39% after the company said it would sell smartwatch technology to Google (NASDAQ:GOOGL) for $40.million.

• Tiffany & Co (NYSE:TIF). stock lost 0.89% as the company reported a 2% decline in holiday sales.

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