By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, November 7th. Please refresh for updates.
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Apple (NASDAQ:AAPL) stock fell 1.6% after the iPhone maker warned of lower shipments of its premium iPhone 14 model due to a production plant in China being hobbled by COVID-19 restrictions.
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Meta Platforms (NASDAQ:META) stock rose 3% after the Wall Street Journal reported over the weekend that the Facebook owner was set to start announcing significant numbers of layoffs, likely starting this week.
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Palantir (NYSE:PLTR) stock fell 2.5% after the data analytics software provider posted its slowest quarterly revenue growth since it went public in 2020, but forecast a better-than-expected fourth quarter revenue due to renewal and expansion of U.S. government contracts.
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Ouster (NYSE:OUST) stock rose 8.6% while Velodyne (NASDAQ:VLDR) stock rose 7.4% after the two Lidar makers agreed to merge, seeking to increase competitiveness in a sector which has seen valuations fall substantially.
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Berkshire Hathaway (NYSE:BRKa) stock rose 1.1% after the Omaha-based conglomerate over the weekend posted a 20% jump in operating earnings during the third quarter, and bought back another $1 billion in stock.
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Home Depot (NYSE:HD) stock rose 0.4% after the retail giant's workers voted against forming a union at a location in Pennsylvania.
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BioNTech (NASDAQ:BNTX) stock fell 2.7% after the drug maker reported a 43% drop in third-quarter sales from a year ago and 44% fall in net profit, even as it lifted the lower bound of its 2022 COVID-19 vaccine revenue guidance for the full year.
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IAA (NYSE:IAA) stock rose 6.3% after Ritchie Bros Auctioneers (NYSE:RBA), down 10%, announced plans to buy the low-value auto marketplace in a cash-and-stock deal valued at about $7.3 billion including debt.
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Costco (NASDAQ:COST) stock fell 1.4% after Wells Fargo) downgraded its investment stance on the wholesale retailer to 'equal-weight' from 'overweight', saying the stock is too expensive given the headwinds it faces.